Aug 18, 2022
The United Nations general assembly proclaimed this year, 2022, as the international year of glass. The Year will celebrate the essential role glass has and will continue to have in Society. It was highlighted in the draft resolution, “the International Year of Glass, 2022 can facilitate the exchange of best practices and the creation of partnerships between key stakeholders to support developing countries in achieving sustainability in the glass industry, creating jobs and improving livelihoods.”
Gathering more than 1,300 endorsements from 78 countries, the year of glass has come at a time most beneficial to its market. As the industry grows in a post pandemic world, we are reminded how important glass is for a more sustainable, healthy future.
The support for the glass industry leads the global market for glass ceramics into a growth spurt where it is expected to rise to 1.8 billion in 2026, growing at a compound annual growth rate (CAGR) of 5.8% during the forecast period of 2021-2026.
As a natural material with an endless recyclable state, glass is one of our key materials which we rely on every day. The glass industry is committed to building on its longstanding cultural heritage to drive sustainable growth for the world. The focus on the year of glass has led to policies aimed at glass technological advancements in diverse end-use sectors, from aerospace and automotive industries to health care and architecture. These factors will substantially boost the glass ceramics industry.
The glass ceramics market makes up some of the most essential uses for glass that have been developed over time to ensure its technology fits with the growing need of the consumer. In manufacturing, glass ceramics are valued for having the strength of ceramics but the hermetic sealing properties of glass. The process of fabricating glass ceramics is quite like glass fabrication. Its raw material includes:
The application of glass ceramics we might see in our everyday lives includes:
The COVID-19 pandemic severely disrupted the glass ceramics industry landscape. Lockdown and quarantine measures limited production and the supply of glass ceramics globally. To see the sheer scale of the impact on the market, one of the major players in the industry Corning Inc. recorded in 2020 an estimated $200 million in revenue loss.
Although the pandemic made a significant impact on the market growth in 2020, the industry has pulled through post pandemic and is set to steadily increase through the forecast period.
Over the next four years, significant changes are forecast to take place in global glass ceramics manufacturing and applications. These factors which will drive the market include:
With all eyes on glass this year it’s no wonder the market is set to steadily increase through the forecast period.
To read a more in-depth analysis of the glass ceramics market through to 2026, click here to purchase the full report or download your free overview.
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