PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1311137
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1311137
Global Glass Ceramic Market is valued at approximately USD 1.5 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 6% over the forecast period 2023-2030. Glass ceramics are a type of material that combines the properties of glass and ceramics. They are made by heat-treating certain glasses to induce crystallization, which results in a material that has the strength and durability of ceramics while retaining the transparency and other properties of glass. The global glass ceramics market is largely driven by the growing demand from the construction industry due to its ability to reduce noise and cost-effectiveness compared to other options. However, one of the biggest challenges facing the market in the coming years is the high cost of energy used in production. The production of glass ceramics requires a significant amount of energy, and fluctuations in the prices of essential energy supplies like crude oil can significantly impact manufacturing costs. As a result, manufacturers may struggle to maintain profitability and competitive pricing in the market.
The construction industry is always in search of innovative materials that can provide strength, durability, and thermal insulation. Glass ceramics are one such material that has gained popularity due to its unique properties. Glass ceramics are a combination of glass and ceramic materials that are heat-treated to induce crystallization. The resulting material has high strength, durability, and thermal resistance, making it an ideal choice for various construction applications.
As per, International Labour Organization, the construction industry is a major employer, with around 7% of the world's working-age population employed in the sector. Similarly, the demand for sustainable construction materials and practices is on the rise, with a report by the United Nations estimating that the construction sector could reduce global carbon emissions by up to 30% by using more sustainable practices and materials. The production of glass ceramics involves high costs, including the cost of raw materials, energy, and processing. These high production costs can impact the affordability of glass ceramic products, which may restrain their demand in certain applications.
The key regions considered for the Global Glass Ceramic Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. The Asia-Pacific region is the fastest-growing construction market, driven by rapid urbanization, population growth, and infrastructure development. Countries like China, India, and Indonesia are investing heavily in construction projects, and the region is expected to account for almost half of global construction output by 2025, according to a report by Global Construction Perspectives and Oxford Economics.
The use of ceramic inks has been in high demand due to China's booming construction sector. The country's government has allocated over 7% of its capital expenditure towards construction, which is higher than the previous year. China is currently the largest market for construction and is witnessing substantial growth in this sector. Some of the major construction projects in China include the Beijing International Airport, which is contributing significantly to the demand for ceramic inks.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable