According to a new report published by Allied Market Research,
titled,"Photosensitive
Glass Market, by Application: Global Opportunity Analysis and Industry
Forecast, 2018- 2025,"The global photosensitive glass market
was valued at USD 6,355.8 in 2017 and is projected to reach USD 10,885.3 by
2025, growing at a CAGR of 6.8% from 2018 to 2025. The decorative application
segment dominated the market in 2017, with around more than one-third share, in
terms of revenue.
Photosensitive glass belongs to lithium-silicate family. It is unique type
of glass wherein an image of mask can be captured with help of microscopic
metallic particles in the glass when it is exposed to ultraviolet light in a
range of 280nm320 nm. A latent image is formed at this wavelength. Photosensitive
glass is a promising material used to produce components for several complex
micro systems. The global photosensitive glass market possesses high growth
potential, because this glass finds its application in both corrosive and
high-temperature environments.
In terms of revenue, the global
photosensitive glass market represents moderate numbers due to gradual
development of applications in each industry. Globally, the market is at a
nascent stage and is further expected to explore significant growth
opportunities during the projected period. Some of the prominent factors
driving the growth of the market include increase in product use in
photolithography to produce various electronic and optoelectronic devices.
Moreover, superior physical and chemical properties of photosensitive glass
fuel its use for aesthetic purposes, which are expected to propel the market
growth during the forecast period. However, limited presence of product
manufacturers across the globe restrains the growth of the market. Furthermore,
high price of photosensitive glass is expected to restrain the market growth.
North America is the most promising regional market across the globe. The
region accounted for largest market share due to presence of leading
photosensitive glass manufacturers including Gaffer Glass USA, Corning
Incorporated, and IPG Photonics Corporation. On the other hand, Asia-Pacific
anticipated to exhibit promising growth due to the trend for micro-circuits and
consistently developing photolithography process. Countries, such as India and
China are anticipated to offer numerous growth opportunities owing to
established construction industry.
Key Findings of the Photosensitive
Glass Market:-
North America dominated the photosensitive glass market with a revenue
share of over 48% in 2017
The Asia-Pacific photosensitive glass market is projected to grow at a
highest CAGR of nearly 8.2%, in terms of revenue, during the forecast period. The
decorative segment was a global leader among other applications with more than
one-third share in 2017. The major key players operating and profiled in the
global photosensitive glass market include Corning Incorporated, Gaffer Glass,
IPG Photonics Corporation, Schott AG, and HOYA Corporation.
For more information on the research report, refer to below
link:-
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