Borosilicate Glass Market- By Analytics Type, By Deployment , By Application, By End User, By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030

Borosilicate Glass Market Overview

Borosilicate Glass Market is forecast to reach $2.7 billion by 2030, after growing at a CAGR of 5.8% over the forecast period of 2024-2030. Advances in Health and medical technologies, growing demand for solar tubes and laboratory equipment is driving the growth of the market. Increasing urbanization population and household appliance consumption are further boosting the borosilicate glass market.

As mentioned before, the anticipated growth trend in the borosilicate glass market is driven by the increasing demand for applications such as solar energy tubes, heat glassware, and laboratory glassware. Borosilicate glass, renowned for its unique thermal and chemical properties, finds extensive use in solar energy tubes, contributing substantially to the market's expansion. In addition to its role in sustainable energy applications, borosilicate glass is gaining prominence in heat glassware. Its exceptional resistance to thermal shock makes it a preferred material in kitchenware and industrial settings. This growing utilization is a key factor fueling market growth, reflecting the material's versatility and adaptability to diverse industry needs.

Furthermore, the market is witnessing a surge in demand attributed to the use of borosilicate glass in laboratory glassware. This uptick is underpinned by advancements in research and development activities across various industries. The precision and durability offered by borosilicate glass make it the material of choice in laboratories globally, further solidifying its position in the market.

As these trends continue to unfold, the borosilicate glass market is set on a steady growth trajectory. The combination of its applications in sustainable energy, heat glassware, and laboratory settings positions borosilicate glass as a versatile material with enduring demand, promising sustained expansion in the forecast period.

Market Snapshot:

Report Coverage

The “Borosilicate Glass Market Report – Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Borosilicate Glass Market.

By Type: Non-Alkaline-Earth Borosilicate Glass, Alkaline-Earth-Containing Borosilicate Glass, High-Borate Borosilicate Glass

By Application: Heat Resistant Glass Panel, Display Screen, Lighting Glass, Sealing Glass, Neutral Glass, Cosmetic Container, Solar Glass, Glass Microspheres and Others

By Geography: North America (the USA, Canada and Mexico), South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica and Rest of South America) Europe (UK, Germany, Italy, France, Netherlands, Belgium, Denmark, Spain and the Rest of Europe), Asia-Pacific (China, Australia, Japan, South Korea, India, Taiwan, Malaysia, Hong Kong and Rest of APAC),  Rest of the World [Middle-East (Israel, Saudi Arabia, UAE and Rest of the Middle-East) and Africa (South Africa and Rest of Africa)].
      
Key Takeaways

• Asia-Pacific dominates the Borosilicate Glass Market owing to increasing demand from applications such as Solar Glass industries.
• The growing demand for solar tubes and laboratories primarily drive the growth of the market.
•  Advances in medical and healthcare technology drive growth on the market.
• The growing population is driving the Borosilicate Glass Market, increasing urban development and increasing consumption through home appliances.
• Growing glassware production will increase the usage of sodium carbonate, silica sand, the soda-lime glass will, in turn, increases the demand for the Borosilicate Glass market.

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Type - Segment Analysis

Non-Alkaline-Earth Borosilicate Glass segment held the largest share in the Borosilicate Glass Market in 2023. Chemical resistance and thermal expansion are high. In a wide range of industries, high-quality borosilicate are used mainly for a technical application that requires good thermal resistance, high chemical resistance, and high light transmission combined with pristine surface performance. The glass tubing, piping, glass containers, etc., especially for the chemical industry, also include typical applications of different forms of borosilicate glass.

Application - Segment Analysis

Solar Glass sector has been the primary market for Borosilicate Glass for many years. The growth in borosilicate glass markets around the globe is driven by the production of the solar power and the increased use of borosilicate glass in various applications because of its enhanced thermal, mechanical, and optical features. Increasing supply incomes and growing solar projects in emerging economies like China and India continues to drive market growth.

Geography - Segment Analysis

APAC dominated the Borosilicate Glass Market, followed by North America and Europe. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India, but with growing foreign direct investment for the economic development of South East Asia, the current scenario is changing. Countries in South East Asia are witnessing high growth in the Heat Resistant Glass Panel.

Drivers – Borosilicate Glass Market

Growing demand for solar energy

Reduced environmental pollution and government incentives and tax rebates for the installation of solar panels are driving the development of the solar energy industry. Thus, simultaneously increases the demand for Borosilicate Glass Market.

Challenges – Borosilicate Glass Market

Availability of substitute like plastic apparatus

The shift towards Plastic usage in the developed and developing nations would hamper the growth of the Borosilicate Glass Market over the forecast timeframe. Plastic apparatus is less cost when compared to Borosilicate Glass. Rising demand for convenient and attractive products owing to rapid urbanization and industrialization is boosting the plastic market will hamper the growth of the Borosilicate glass market.

Borosilicate Glass Industry Outlook

Product launches, acquisitions and R&D activities are key strategies adopted by players in the Borosilicate Glass market. The key players in the Borosilicate Glass market include 

1. Asahi Glass Co, Ltd
2. Borosil Glass Work Ltd
3. De Dietrich Process System
4. DWK Life Sciences
5. Gerresheimer Ag
6. Hilgenberg Gmbh
7. Kavalierglass Of North America, Inc
8. Noble Glass Work Pvt Ltd
9. Schott Ag
10. Shandong Yaohui Solar Co , Ltd 

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