Antibacterial Glass Market to Grow at a CAGR of Almost 7%
The global antibacterial glass market is expected to reach $210 million by 2020.
The global antibacterial glass market is expected to reach $210 million by 2020, growing at a compound annual growth rate (CAGR) of close to 7%, according to a recent report from Technavio. The top three end-user segments for the global antibacterial glass market are: hospitals, food and beverage, and defense.
Materials such as silver, copper, zinc, titanium and zeolite are used to infuse the antibacterial characteristics to the glass. The silver-type antibacterial glass market accounted for 90.8% of the global market share in 2015 and is expected to grow at a CAGR of 6.87% during the forecast period. It is the fastest-growing antibacterial glass market by material type. Its dominance is mainly due to its exceptional antibacterial properties, which has applications for almost all end users of antibacterial glass.
The hospital end-user sector accounted for 42.3% of the global market share in 2015. It is the largest end-user segment of the antibacterial glass and is also growing at the fastest rate. One of the major reasons behind the rise in demand is the increase in the number of hospital acquired infection (HAI) cases.
“There is an increase in the need for sterile environments in vulnerable hospital areas, such as geriatric wards, intensive care units, oncology wards, maternity wards, hematology wards, isolation and sterilization rooms, burn units, and pharmacies,” said Swapnil Tejveer Sharma, glass and ceramics analyst.
One of the major causes of food poisoning is the lack of proper hygiene and safety at the food outlets. Materials such as BPA, which has applications in the packaging of food and beverages, have adverse effects on human health. In an effort to avoid these harmful materials, antibacterial glass packaging has emerged as an option.
“Antibacterial glass is used for storing and packaging food for a long period,” said Swapnil. “There is also an increase in the use of antibacterial glass at areas such as canteens, restaurants, and food displays.”
Volatile working conditions in military areas have increased the susceptibility of defense equipment to microbial activities. Antibacterial hard glass is widely used in defense equipment to protect users from harmful external pathogens. In terms of revenue, the global antibacterial glass market in the military equipment end-user sector was $27.1 million in 2015 and is expected to reach $37.8 million by 2020, growing at a CAGR of 6.9%.
For more information, visit www.technavio.com.