North America contributed to nearly half of the total market share, airing a CAGR of 6.4% during 2018-2025. The increasing demand for photosensitive glass in U.S. and Canada has enabled the province to have the highest market share. Also, established construction industry and economically strong status of the region has spurred the cause. Last but not the least; technologically established background of North America is further expected to contribute more in the advancement of photolithography over the years to come.
Decorative sector remains to be quite profitable throughout the forecast period
Based on end-user, the decorative segment accounted for nearly one-third of the total market in 2017. The fact that this glass has a rich appearance has made it grab the highest market share of photosensitive glass. Especially, increase in consumer demand for this product during special occasion and festivals boosts the growth of the market to a significant extent. At the same time, the electronics segment happens to be the fastest growing market, garnering a CAGR of 8.1% during the estimated period. Especially, the favorable properties like permanent refractive change, good constancy, grain-free image, high strength, correct reproducibility etc. have made them an ideal choice as compared to other glasses.
Key market players:
They tend to adhere to a number of unique strategies and that's how they have become able to maintain their exclusivity in the market.
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