The antibacterial glass market is expected to grow at a significant pace from 2016 to 2024 owing to rising awareness of healthcare industry.
The global antibacterial glass market size was USD 160 million in 2015 and it is expected to go beyond USD 270 million by 2024. Growing number of Hospital Acquired Infections (HAIs) is said to spur the demand during the forecast period (from 2016 to 2024). Growing demands for antimicrobial coatings along with the rapid technological improvements is projected to positively impact the market growth.
However, strict rules & regulations about the antimicrobial coatings production are said to negatively affect the demand over the next few years. On the other hand, the extensive product implementations in different consumer electronics like phablets, tablets, etc. are expected to fuel the revenue. The global market is divided into applications and regions.
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The applications sector of the antibacterial glass market comprises food & beverages, hospitals, military equipment, and residential /household. The hospital sector is anticipated to be the leading sector over the estimated years. The sector is expected to grow at a CAGR of over 7 % over the forecast period. This can be attributed to the rising product implementations in isolation rooms including oncology units, burn units, and hematology units as these dedicated critical facilities need 100 % germ-free environment and significant sanitation.
The food & beverages sector is said to witness huge growth prospects growing at a CAGR of over 7 % during the estimated years. Major usage of these products for storing and packaging the food and beverage products is said to boost the growth. In addition to this, the increasing installations in restaurants, canteens, food displays etc. are also likely to push the market growth.
The North American antibacterial glass market is expected to grow at a CAGR of over 7 % during the forecast period due to rapidly growing hospitals sector. The Europe region is said to be the lucrative and dominant regional market during the next eight years. Plus, the presence of major global product manufacturers in the region is likely to positively impact the growth.
Some of the companies in the market are Corning Inc.; AGC Glass Europe; Glas Trosch Holding A. G.; Nippon Sheet Glass Co. Ltd. (NSG); Vetraria Bergamasca Tecnovetro Srl. (VBT); and Saint-Gobain S. A.
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by Ryan Shaw (21 days ago)