Global Radiation Shielding Glass Market - 2023-2030

Overview

Global Radiation Shielding Glass Market reached US$ 1.0 billion in 2022 and is expected to reach US$ 1.7 billion by 2030, growing with a CAGR of 6.5% during the forecast period 2023-2030.

The market for radiation shielding glass is mostly driven by the healthcare industry. Diagnostic imaging services are in greater demand as medical technology develops. The includes radiation treatment, CT scans and X-rays, all of which need radiation-shielding materials. The introduction of radiation shielding glass in radiology departments, cancer centers and diagnostic imaging facilities is motivated by the need to shelter patients and healthcare staff from ionizing radiation.

Radiation shielding glass is used in the aerospace and aviation industries to guard crew members and passengers from cosmic radiation at higher altitudes. Radiation shielding glass is being more widely used in airplane windows to protect passengers from dangerous ionizing radiation during long-haul flights and to prioritize human safety.

Asia-Pacific is among the growing regions in the global radiation shielding glass market covering more than 1/3rd of the market. Radiation shielding glass is in high demand due to the growing number of hospitals, diagnostic centers and cancer treatment facilities in the area. In order to protect patients and medical staff from radiation exposure in radiology rooms, cancer centers and other medical imaging facilities, this glass is necessary.

Dynamics

Growth of Research Facilities and Nuclear Power

The market for radiation shielding glass is also being driven by the growth of research centers and nuclear power plants. The building and running of nuclear power facilities have expanded as nations look to diversify their energy sources and cut carbon emissions. Radiation shielding materials, such as leaded glass, are needed at nuclear power plants for reactor containment structures, control rooms and viewing windows to safeguard the public and employees from ionizing radiation.

Radiation shielding solutions are also necessary for research facilities, such as particle accelerators and laboratories dedicated to nuclear physics and radiopharmaceutical development. Radiation shielding glass is becoming more and more in demand due to the ongoing advancements in nuclear technology and the necessity of radiation protection in these applications.

Growing Use of Imaging Technologies in Medicine

The global market for radiation shielding glass is greatly impacted by the growing use of medical imaging technologies including fluoroscopy, CT scans and X-rays. The technologies are essential to modern healthcare since they help with diagnosis and therapy. Radiation shielding products are becoming more and more necessary to shelter patients, medical staff and the public from ionizing radiation as the demand for diagnostic imaging services rises.

Radiation shielding glass is a transparent barrier that efficiently attenuates ionizing radiation while permitting clear visibility. It is utilized in radiology departments, cancer treatment centers and diagnostic imaging facilities. The need for radiation shielding glass in the healthcare industry is anticipated to continue due to improvements in medical imaging and the growth of healthcare infrastructure globally.

For Instance, On 6 October 2022, Medical Imaging Solutions International ("MISI") was fully acquired by CHS USA Inc., a subsidiary of Canadian Hospital Specialties Limited (CHS). With this purchase, CHS's market share in diagnostic imaging in US will grow even further. Within the healthcare sector, MISI and CHS are renowned for their dependable and superior goods.

Restricted Creative and Aesthetic Imagination

Radiation shielding glass is typically thicker and denser than regular glass, which can limit design flexibility and aesthetics in architectural applications. Architects and interior designers often seek to create visually appealing and open spaces in buildings, but the use of radiation-shielding glass can restrict their options. The thickness and opacity of some radiation shielding Glasss may not align with modern architectural trends, which prioritize transparency and sleek design.

In addition, the color and optical clarity of lead glass can be impacted by lead content, which reduces its appeal for some uses. In sectors including luxury hospitality, retail or high-end residential development where ambiance and design are crucial, this aesthetic restriction may be a challenge. For the radiation shielding glass industry, striking a balance between safety and aesthetics continues to be difficult, but producers are always coming up with new ideas to get around this restriction.

High Initial Cost of Raw Materials

The high initial cost of these specialist materials is one of the main barriers to the market for radiation shielding glass. Because radiation shielding glass, especially leaded glass, contains heavy metals like lead, which raises the cost of raw materials, it is more expensive to make. The complicated procedure of installing radiation shielding glass also adds to the overall cost because it calls for specialized manpower and knowledge.

Furthermore, the weight of radiation shielding glass may need structural changes in structures, which would raise the cost of installation. Given the high costs and potential interruptions, upgrading older facilities can provide a considerable barrier. Therefore, the cost and practicality of implementing radiation shielding glass may serve as a barrier to its widespread use.

Segment Analysis

The global radiation shielding glass market is segmented based on radiation, glass, thickness, application, end-user and region.

Growing Application of X-ray Technology

The X-Ray segment is among the growing in the global radiation shielding glass market covering more than 1/3rd of the market. The growing application of X-ray technology is one of the main drivers of the growth in the globally radiation shielding glass industry. The increasing importance of diagnostic imaging in the medical field. As medical institutions and providers look to improve their diagnostic skills, X-ray imaging is still a vital tool in medical diagnostics and is in high demand.

In order to protect patients and employees, radiology departments, hospitals and diagnostic imaging facilities are directly driving up demand for radiation shielding glass. The growth of applications for non-destructive and industrial testing. X-ray technology finds widespread application in a wide range of industrial applications, including material testing, weld inspections and quality control.

Geographical Penetration

Rising Radiation Treatment and Medical Imaging Center in Asia-Pacific

Asia-Pacific has been a dominant force in the global radiation shielding glass market and the primary driver driving expansion is the rising number of radiation treatment and medical imaging centers in nations like China, India and Japan. The safety of patients and medical personnel, there is an increased requirement for radiation shielding glass in radiology rooms, cancer centers and diagnostic imaging facilities as the healthcare infrastructure grows to meet the demands of rising populations.

The growing demand for radiation shielding materials, such as glass, results from the Asia-Pacific development and expansion of nuclear power plants and research centers. Radiation shielding technologies are essential for guaranteeing worker and public safety as nations in the area strive to satisfy their energy demands and advance scientific research.

Lead glass and other radiation-shielding materials are used in control rooms, observation windows and reactor containment structures as part of these initiatives. The demand for radiation shielding glass is also being fueled by the expanding manufacturing and industrial sectors in the Asia-Pacific, which include the semiconductor, aerospace and automotive sectors.

Radiation protection becomes necessary while these businesses use increasingly sophisticated materials and technology to ensure worker safety and equipment integrity. Radiation shielding systems are growing in popularity in R&D centers and production processes as a consequence.

COVID-19 Impact Analysis

The COVID-19 pandemic significantly impacted the global market for radiation shielding glass The pandemic affected the supply and demand for radiation shielding glass by upsetting supply networks and creating general economic instability. Lockdowns, lowered operations and budgetary limits caused interruptions in several businesses that depend on radiation-shielding materials, such as healthcare, manufacturing and construction.

As a result, during the pandemic, the demand for radiation-shielding glass temporarily slowed down in several locations. The COVID-19 pandemic particularly had a significant effect on the healthcare industry. While diagnostic and treatment facilities saw a rise in demand for medical-grade radiation shielding glass, other industries experienced setbacks and budget cuts.

The market was further hampered by certain enterprises deferring investments in radiation protection devices due to uncertainty in the world's economic situation. Radiation shielding glass producers faced supply-side difficulties like labor interruptions, lockdowns and shortages of materials, which impacted their ability to produce their products and occasionally resulted in price changes.

The use of radiation shielding glass became more and more in demand, especially for medical and scientific uses, as the globe adjusted to the epidemic and healthcare became a primary priority. The illustrated how resilient the market is and how crucial radiation shielding materials are, even in the face of hitherto unheard-of globally difficulties.

Russia-Ukraine War Impact Analysis

The globally market for radiation shielding glass has been greatly affected by the conflict between Russia and Ukraine, especially the fighting in Eastern Ukraine. Various businesses and facilities that produce materials and glass for radiation shielding are located in Ukraine in particular. Supply chains have been interrupted, manufacturing has been impacted and market uncertainty has been brought about by the ongoing conflict and political unrest in the area.

Additionally, the various enterprises in the impacted regions were forced to cease or scale back their activities, which might result in shortages and changes in prices on the international market. In addition, the situation has affected international ties and commercial routes by causing unrest and uncertainty in nearby areas.

Import and export of radiation shielding glass and associated products may be hampered by trade restrictions and sanctions put in place by different nations in reaction to the war. The has not only made things difficult for producers, but it has also raised the lead times and prices of procuring these resources, which has an effect on the supply chain as a whole and could have an effect on market pricing.

By Radiation

• X-Ray
• Gamma Ray
• Beta Ray
• Others

By Glass

• Leaded Glass
• Lead-free Glass
• Laminated Glass
• Others

By Thickness

• Below 5.0mm
• 5mm-10mm
• 10mm-14mm
• 14mm-20mm
• Above 20mm

By Application

• Nuclear Power Plants
• Medical Facilities
• Industrial Facilities
• Aerospace and Aviation
• Automotive
• Construction
• Others

By End-User

• Research Institutions
• Energy Industry
• Manufacturing and Construction
• Diagnostic Imaging Centers
• Hospitals and Clinics
• Defense and Military
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• On February 03, 2023, Mo-Sci, a prominent developer and manufacturer of advanced high-tech glass, completed the acquisition of 3M's Advanced Materials business (formerly known as 3M Ceradyne), located in Seattle, Washington. The acquisition encompasses more than 350 specialized equipment pieces and all associated intellectual property.
• On January 24, 2023, Premier Imaging Medical Systems was acquired by Radon Medical Imaging, a well-known business that specializes in the upkeep and repair of medical imaging equipment. Premier Imaging Medical Systems is well-known for selling brand-new, pre-owned and reconditioned imaging and biomedical equipment in addition to providing services for equipment maintenance.

Competitive Landscape

The major global players in the market include: Corning Incorporated, Schott AG, Ray-Bar Engineering Corporation, Mayco Industries, Radiation Protection Products, Inc., A&L Shielding, Technical Glass Products, Nippon Electric Glass Co., Ltd., Raybloc (X-ray Protection) Ltd and MarShield.

Why Purchase the Report?

• To visualize the global radiation shielding glass market segmentation based on radiation, glass, thickness, application, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of radiation shielding glass market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global radiation shielding glass market report would provide approximately 77 tables, 89 figures and 204 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies