The growth of the antibacterial glass market is attributed to an increasing product demand from hospital applications in order to prevent the spread of HAI’s (hospital acquitted infections), says this report.
Press Release – updated: Sep 24, 2020 06:00 EDT
SELBYVILLE, Del., September 24, 2020 (Newswire.com) – Based on Global Market Insights Inc.’s report, the antibacterial glass market size was estimated at $210 million in 2019 and is slated to surpass $355 million by 2026, registering a CAGR of 7.5% from 2020 to 2026. The report provides a thorough analysis of the top investment avenues, drivers and opportunities, key winning strategies, competitive scenarios, market estimations, as well as size and wavering industry trends.
Antibacterial glass is slated to witness high demand, mainly due to growing awareness about personal hygiene, fungal, and bacterial infections. Several key industry players are capitalizing on emerging trends and rising awareness levels to further expand product applications across households, military equipment, and electronics. Antibacterial glass market manufacturers are focused on innovating new antibacterial glass through emerging active ingredients like copper and various others in order to decrease the production cost and to make them much more affordable for the numerous application industries.
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The antibacterial glass industry is also likely to witness respectable growth due to the ongoing COVID-19 outbreak. As per WHO, presently, there are 30,949,804 confirmed cases of COVID-19, with approximately 959,116 deaths, across the globe. The outbreak has made a major impact on the global economy and the industry since various businesses as well as construction projects are temporarily closed.
However, as global governments are increasing their healthcare expenditures, the antibacterial glass market is likely to see a tremendous jump in demand over the coming years from the hospital segment. Recently, the Indian Government announced that it aims to increase its healthcare spending to 3% of its GDP by 2022. Such initiatives are likely to ensure a positive demand for numerous healthcare infrastructure products, including antibacterial glass.
Key reasons for antibacterial glass market growth:
- Rapid demand from the military equipment application segment.
- High demand for silver as an active ingredient.
- Rising adoption of antibacterial glass from the APAC electronics industry.
2026 forecasts anticipate the food & beverage applications segment showing appreciative growth:
In terms of application, the food & beverage segment is anticipated to witness substantial growth over the coming years. The segment is likely to witness high adoption of antibacterial glass in the forthcoming years as F&B industry players focus to maintain the hygiene of the surfaces the food is prepared on, thereby eliminating the possibility of spreading harmful bacteria.
Europe and Asia-Pacific to witness remunerative growth:
The antibacterial glass market in Europe is slated to surpass a valuation of nearly $220 million by the end of the analysis time period. Nearly one out of every 10 Europeans visiting a hospital is generally exposed to a bacterial infection, which in turn leads to medical issues, longer hospital stays, or even deaths in severe cases. Moreover, the overall cost of these infections is significant monetarily and a surgical site infection solely could cost European healthcare approximately $22.5 billion a year.
Asia-Pacific is slated to grow with a CAGR of more than 7% over the forecast time period due to high product adoption in the manufacturing of smartphones and electronic gadgets. The silver-ion based antibacterial technology implanted in a smartphone’s glass generally keeps the surface of the phone more hygienic. This is so because the presence of silver ions destroys the bacteria as and when they come into contact with the screen, thereby preventing the spread of harmful bacteria through contact. Moreover, the presence of well-established electronics industry in Taiwan and China would further stimulate this antibacterial glass market demand over the projected time period.
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Leading market players:
Prominent market players analyzed in the antibacterial glass industry report include Archello, Essex, Morley, AGC Glass Europe, Ishizuka, Saint-Gobain, Glas Trosch Holding, Sprinz, and Corning among many others. They have incorporated several strategies including partnerships, expansions, collaborations, joint ventures, and others to heighten their standing in the industry.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision-making.
GMIPulse, our business analytics platform, offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company-level, and cross-sectional statistics that make our offering a stand-out for decision-makers.
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Source: Global Market Insights Inc.