Antibacterial Glass Market Revenue to Reach $222.0 Million by 2020: Grand View Research, Inc.
(firmenpresse) - SAN FRANCISCO, CA -- (Marketwired) -- 05/26/16 -- The is anticipated to be worth USD 222.0 million by 2020. Growing number of hospital acquired and nosocomial infections has increased the risk which is expected to propel growth. It eliminates majority of the bacteria that may form on its surface and also prevents spreading of fungi. It is used primarily in spaces which require high degree of hygiene and sterile environments. In addition, rising demand for smartphones fitted with anti-microbial glass is projected to fuel demand for anti-bacterial glass. The product offers an architectural solution for prevention of infections which is further expected to drive product demand in healthcare settings.
Rising demand for medical device coatings is projected to positively impact the growth over the forecast period. However, low consumer awareness regarding the benefits offered by these products is expected to restrain demand over the forecast period.
Technological advancements including the development of antibacterial glass for touch screen displays by U.S. based Corning is expected to present growth opportunities for other industry players, thereby propelling the growth of the overall industry.
Silver was the most dominant active ingredient used and accounted for over 90% of market share in 2013. It is projected to grow at a CAGR of over 6% over the forecast period making it the fastest growing active ingredient segment. Various properties of silver including toxicity to micro-organism and imparting anti-bacterial properties are likely to propel demand over the next six years.
Hospitals accounted for more than 38% of the global market in 2013 and are expected to grow at a CAGR of more than 6.5% over the forecast period. Rising need for sterile environment, particularly in vulnerable spaces such as geriatric wards and ICU''s, hospitals are expected to be the key application areas.
Europe accounted for more than 55% of revenue in 2013. This trend is expected to continue over the forecast period due to increasing consumer awareness regarding product benefits. It is expected to witness substantial growth over the forecast period at a CAGR of more than 6.5% due to presence of major industry participants in the region.
Key companies in the industry include Corning Inc., Saint Gobain, Nippon Sheet Glass, Essex Safety Glass Ltd., Archello, Morley Glass & Glazing Ltd, Sprinz and AGC Glass Europe. The industry is characterized by price sensitivity and is consolidated in nature. Product innovation is expected to be key growth driving strategy over the forecast period.
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
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Datum: 26.05.2016 - 04:30 Uhr
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News-ID 1437699
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