The global color filter glass market size is expected to gain momentum owing to the light balancing in various applications during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Color Filter Glass Market, 2022-2029.” It is created using colored dye which is injected into a glass substrate and is divided into different filters to isolate specific spectrum regions. They transmit light within certain wavelength ranges while absorbing wavelengths that are undesirable. They are used in various applications such as machine vision, calibration, telephony, electronic instrumentation, and CRT displays. Color glasses are highly used in selective wavelength absorption, to achieve high out of band blocking which is expected to fuel the market.
COVID-19 Impact-
Supply Chain Disruption to Hinder Growth
Most manufacturing facilities have been shut down because of the COVID-19 epidemic. Automobile production has been severely disrupted for several months due to the lockdown and supply chain has been shattered in the color filter glass industry.
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Segments-
By product type, the market is segmented into sharp cut filters, infrared transmitting filters, blue filters, green filters, light balancing filters, color compensating filters, neutral density filters, heat absorbing filters, ultraviolet transmitting filters, multiband calibration filters, and others. On the basis of application, the market is segregated into machine vision, night vision, CRT display, imaging, calibration, UV trans-illuminators, telecommunication, electronic instrumentation, medical devices, and others. Finally, by geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What does the Report Offer?
The market report for color filter glass includes detailed information on the market’s rivals and various organizations and suppliers. It contains industrial chain analysis, value engineering, output, growth rate, export/import, revenue, income, price, operating income, latest events, opportunities assessment, organizational market growth analysis, and new product development.
Drivers & Restraints-
Increasing Demand in Various Application to Stimulate Growth
The global color filter glass market is expected to grow due to the increasing demand in various applications during the projected period. The rising demand for light balancing and neutral density filters in a variety of applications will fuel the market expansion. The neutral density filter lowers transmission across a section of the spectrum in a uniform manner. Light balancing filters are widely used because of their ability to balance inner and outer lighting while maintaining temperature. Both are used extensively in medical equipment, imaging, and electronic devices.
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Regional Insights-
Increasing Demand in the Imaging Application to Promote Growth in North America
North America is expected to hold the largest global color filter glass market share during the forecast period. The rising demand for the heat absorbing and neutral density in imaging application, and consumption in calibration application are expected to drive the market in the region.
Europe is anticipated to hold a significant position in the market. The increasing light balancing filters in the night vision is expected to fuel the market expansion in the region.
Competitive Landscape-
Key Players Focus on Partnership to Strengthen its Market Position
The presence of a few of the leading competitors participating in the market, including well-established firms and new entrants, suppliers, vendors, and distributors, defines the market. The major businesses are constantly concentrating on growing their geographic reach and consumer base, expanding their product offering, and developing new innovations in color filter glass.
Industry Development-
- September 2021: SCHOTT’s manufacturing presence in the United States is expanded, and its bioscience skills are strengthened, with the acquisition of the Arizona-based microarray solutions company. Improved development and manufacturing capabilities, particularly high-density microarray printing, will benefit customers.
List of Key Players Profiled in the Global Market for Color Filter Glass:
- Knight Optical
- HOYA CORPORATION USA
- Schott AG
- Kopp Glass
- Sydor Optics
- Optics & Allied Engineering
- Photonics Optics
- Specialty Glass Products
- Laurel Industries
- Sterling Precision Optics
- Glen Mills Inc.
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