Global Antibacterial Glass Market to Reach $383.8 Million by 2026
SAN FRANCISCO, March 23, 2022 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Antibacterial Glass – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Edition: 17; Released: February 2022
Executive Engagements: 4037
Companies: 22 – Players covered include AGC Glass Europe; Corning Inc.; Essex Safety Glass Ltd.; Glas Trosch Holding AG; Innovative Glass Corporation; Ishizuka Glass Company Limited; Joh. Sprinz GmbH and Co. KG; Morley Glass & Glazing Ltd.; Nippon Electric Glass Co., Ltd.; Saint Gobain S.A.; SUMITA OPTICAL GLASS, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Active Ingredient (Silver, and Other Active Ingredients); Application (Hospitals, Food & Beverage, Military, Residential, and Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Brazil; Rest of Latin America; Rest of World.
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ABSTRACT-
Global Antibacterial Glass Market to Reach $383.8 Million by 2026
Antibacterial glass mainly finds application in areas such as healthcare, food and beverage, residential, military, among others. Demand in the global market is being supported by expanding aging population, particularly in developed countries. The market is also expected to gain impetus from the anticipated rise in healthcare spending in the coming years in various countries in order to be able to combat situations such as the COVID-19. Further, the increasing incidence of HAIs (Hospital Acquired Infections) globally, and improving personal hygiene practices among people is also driving market growth. Hospitals constitute the dominant user of antibacterial glass due to the implementation of strict regulations related to hygiene and safety, and growing healthcare spending in various regions. Another significant end-use market for antibacterial glass is food and beverages packaging industry. In the food and beverage sector, antibacterial glass is used to prevent contamination of food products and to maintain safety. Growing number of food poisoning cases primarily in the US and Europe with consumption of Salmonella-tainted salmon in recent past forced industry vendors to adopt safety measures. In addition, use of antibacterial glass on touch screen displays in electronic devices such as mobile phones, phablets as well as tablets is expected to offer significant growth opportunities.
Amid the COVID-19 crisis, the global market for Antibacterial Glass estimated at US$279.6 Million in the year 2022, is projected to reach a revised size of US$383.8 Million by 2026, growing at a CAGR of 9.9% over the analysis period. Silver, one of the segments analyzed in the report, is projected to grow at a 10.1% CAGR to reach US$371.1 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Other Active Ingredients segment is readjusted to a revised 8.9% CAGR for the next 7-year period. This segment currently accounts for a 10.1% share of the global Antibacterial Glass market. Silver is preferred as an antibacterial agent owing to its unique feature of being non-toxic to human cells, when compared to other metals. Recently, application of silver infused antibacterial glass is gaining significance in medical devices and surfaces in hospital units such as surgical tools, catheters, needles, stethoscopes, furniture, door handles and paper files for killing MRSA, multi-antibiotic resistant and life threatening Staph germ, present on such surfaces.
The U.S. Market is Estimated at $80.1 Million in 2022, While China is Forecast to Reach $27.3 Million by 2026
The Antibacterial Glass market in the U.S. is estimated at US$80.1 Million in the year 2022. The country currently accounts for a 28.74% share in the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of US$27.3 Million in the year 2026 trailing a CAGR of 12% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.8% and 9.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 9.4% CAGR while Rest of European market (as defined in the study) will reach US$29.6 Million by the end of the analysis period. Europe is a dominant market and growth is driven by strict regulations related to hygiene and sanitation that are enforced in hospitals and in production facilities. The implementation of various standards such as EN 1276, EN 1650, and EN 13697 in the food sector, and the existence of several major players in the region are also driving market growth. Further, the presence of developed application areas such as construction, automotive, military equipment, food and beverage, and hospitals bodes well. North America is another key market for antibacterial glass products due to increasing demand from various healthcare settings, and technological advancements. Growing healthcare expenditure in the US is also expected to fuel market growth in the region. In the Asia-Pacific region, growth is being driven by rising focus on combating infections and diseases and heightened demand for Corning’s antimicrobial Gorilla Glass for touch screen displays. Other growth drivers include an ever-rising patient pool and increasing number of surgeries, growing hygiene awareness, and improving consumer disposable income. More
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