Glass Scintillator Market Size To Reach $31.77 Million By 2030

Glass Scintillator Market Growth & Trends 

The global glass scintillator market size is expected to reach USD 31.77 million by 2030, registering a CAGR of 4.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increasing need for safety requirements in nuclear power plants is key growth factor to drive industry growth. In addition, rising demand from North America region is further propelling the demand over the forecast period.

Lithium based glass scintillator are used for wide variety of radiation detection applications in nuclear industry. They are also being used in oil & gas industry for logging while drilling (LWD) and measurement-while-drilling (MWD), during the exploration process. The growth in exploration activity is also one of the reasons for increased demand.

In terms of revenue, oil & gas accounted as the largest application segment in 2016 and is anticipated to continue its trends with a growth rate of 3.1% over the forecast period. Increasing need for formation evaluation to enhance the productivity of drilling operations is expected to drive the market.

The demand for glass scintillators is expected to boost owing to the growth in various end-use industries in the North America region. The increased demand is driven by the growing application of glass scintillators in industries such as oil & gas exploration and nuclear power plant. The shale oil boom in the region coupled with the use of various techniques such as logging- while-drilling (LWD) and measurement-while-drilling (MWD) is an important market driver. These methods require accurate and reliable data measurement, which can be accomplished with the aid of glass scintillators. These factors together are expected to boost the glass scintillator demand over the forecast period.

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Glass Scintillator Market Report Highlights

• Depleted lithium dominated the market and accounted for a share of 42.8% in 2023. The increasing well complexity coupled with rising cost of carrying out drilling operations has driven the need for measurement while drilling, which in turn helps in gaining valuable information about the well or reservoir conditions.

• Enriched lithium is expected to register the fastest CAGR of 4.6% during the forecast period. This is mostly due to its important function in advanced nuclear technologies, such as fusion reactors and next-generation batteries.

• Oil & gas accounted for the largest market revenue share of 84.6% in 2023. This increase is credited to the industry's growing dependence on scintillation technology for well logging, reservoir characterization, and radiation safety procedures in exploration and production operations.

• The nuclear power plants segment is projected to grow at a CAGR of 5.5% over the forecast period due to strict safety protocols and the crucial importance of accurate radiation detection and monitoring in the nuclear energy industry.

• North America glass scintillator market dominated the market with a revenue share of 36.5% in 2023.

Glass Scintillator Market Segmentation

Grand View Research has segmented the global glass scintillator market on the basis of on product, application, and region:

Glass Scintillator Product Outlook (Revenue, USD Thousands, 2018 - 2030)

• Natural Lithium

• Depleted Lithium

• Enriched Lithium

Glass Scintillator Application Outlook (Revenue, USD Thousands, 2018 - 2030)

• Oil & Gas

• Nuclear Power Plants

Glass Scintillator Regional Outlook (Revenue, USD Thousands, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

• Latin America

  • Brazil

• Middle East and Africa (MEA)

  • Saudi Arabia

List of Key Players in the Glass Scintillator Market

• Rexon Components, Inc

• Saint-Gobain 

• Scintacor

• Collimated Holes Inc.

• Amcrys

• Albemarle Corporation

• FMC Corporation

• Dynasil Corporation

• Epic Cystal Co. Ltd