Glass Ceramics Market growth scenario 2021 to 2030, building & construction segment is driving the industry growth

The global glass ceramics market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA.

PORTLAND, UNITED STATES, USA, February 22, 2022 /EINPresswire.com/ -- As per the report published by Allied Market Research, the global glass ceramics market is estimated to reach $2.4 billion by 2030, growing at a CAGR of 6.0% from 2021 to 2030. The report highlights the market potential, market characteristics, competitive landscape, and growth by segmentation.

On the basis of application, the building & construction segment is estimated to hold the lion’s share through 2030. However, the optical segment is anticipated to register the highest CAGR of 7.3% during the forecast period.

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Asa Eswara Prasad, Manager, Materials & Chemicals at Allied Market Research, stated, “Rise in urbanization, low thermal expansion, and development of nano-phase ceramics drive the growth of the global glass ceramics market. However, high cost of optical ceramic hinders the market growth. On the contrary, rise in urbanization is expected to unlock new opportunities for the market players in the future.”

The global glass ceramics market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is expected to hold the lion’s share through 2030. In addition, the region is projected to portray the highest CAGR of 7.3% from 2020 to 2030.

The global glass ceramics market is segmented on the basis of composition and application.

Based on composition, the lithium-aluminum-silicate (LAS) segment is expected to hold the highest market share during the forecast period. However, the magnesium-aluminum-silicon oxides (MAS) segment is projected to portray the fastest CAGR of 6.6% during the forecast period.

The global glass ceramics market includes an in-depth analysis of the prime market players such as CoorsTek Inc., Kanger Glass-ceramic Co., Ltd., Corning Inc., Kyocera Corporation, Kedi Glass-Ceramic Industrial Co. Ltd., Nippon Electric Glass Co., Ltd., Morgan Advanced Materials plc, Saint Gobain, Ohara Corporation, and Schott AG.

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By Application:

1. Building & construction
2. Electrical & electronics
3. Healthcare
4. Aerospace
5. Optical
6. Others

Covid-19 pandemic impact on the market:

• The Covid-19 outbreak resulted in a partial or complete shutdown of manufacturing facilities that do not come under essential goods. This hampered the market greatly.
• The construction sector was among the severely hit sectors during the pandemic. The prolonged lockdown postponed several major construction & infrastructure projects due to disruption of the supply chain and lack of workers.
• The pandemic negatively affected the electronics, aerospace, optical sectors as well, which are the prime end-use industries of glass ceramics.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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