Advanced Glass Market Outlook - 2027
The global advanced glass market size valued at $57.6 billion in 2019, and is projected to reach $103.8 billion by 2027, growing at a CAGR of 7.6% from 2020 to 2027.
Advanced glass is a specialized grade of glass. Advanced glasses have unique features and properties designed to suit various applications. This advanced glass property makes them applicable across diverse end-user industries such as building & construction, aerospace & defense, automotive, electronics, sports & leisure, and optical. The report includes a detailed description of the different product types used to produce advanced glass. Coated glass, laminated glass, toughened glass, and ceramic glass are widely used product types.
The rapid growth of the construction industry has increased the demand for advanced glass; thereby, boosting the global market growth. Furthermore, the flourishing automotive industry is also expected to fuel the growth of the global market. In addition, increase in need for better infrastructure as a result of rapid urbanization further boosts the market growth. However, high costs associated with the installation of advanced glasses are likely to hinder the market growth in the coming years. Furthermore, strict government legislation relating to the use of energy-efficient products and the desire to use renewable resources are anticipated to provide lucrative opportunities for the key players in this sector.
The global advanced glass market is segmented on the basis of function, product type, end-user industry, and region. By function, the market is classified into safety & security, solar control, optics & lighting, and high performance. On the basis of product type, it is categorized into coated glass, laminated glass, toughened glass, and ceramic glass. According to end-user industry, it is divided into building & construction, aerospace & defense, automotive, electronics, sports & leisure, optical, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the key players operating in the global advanced glass market are Advanced Glass & Mirror Inc., Asahi Glass Co., Corning Inc., Fuyao Glass Industry Group Co. Ltd., Huihua Glass Co. Limited, Koch Industries, Nippon Sheet Glass Co. Ltd., Saint Gobain, Sisecam Group, and Tyneside Safety Glass.
Global advanced glass market, by function
By function, safety & security segment accounted for highest advanced glass market share in 2019. Whereas, the solar control segment is expected to experience the fastest growth during the forecast period due to the advantages of using specialized glass to control the heat. Safety glasses are mainly used in the manufacturing, construction, oil & gas, chemicals, and mining industries. In addition, security glass is designed to help defense passengers from injury or damage due to deliberate or intentional actions. These factors are expected to drive the demand for safety & security advanced glass market forecast.
By Function
Safety & security is projected as the most lucrative segment.
Global advanced glass market, by product type
By product type, the toughened glass, also referred to as tempered glass, is expected to lead the global market during the forecast period, owing to growth of the automotive and construction industries in developing economies. In addition, increase infuse of toughened glass in furniture is also expected to boost the advanced glass market growth during the forecast period. Similarly, increase in use of toughened glass or tempered glass as a mobile accessory is also anticipated to fuel the demand for tempered glass.
By Product Type
Coated Glass is projected as the most lucrative segment.
Global advanced glass market, by end-user industry
By the end-use industry, the advanced glass segment is the major revenue contributor due to its unique properties and features. It undergoes complex mechanical and chemical processes to improve its toughness, strength, and coatings. Population growth and demand for affordable housing with higher industrialization levels boost the demand for advanced glass. Furthermore, changes in lifestyle followed by rise in disposable per capita income fuel the automobile and construction industries;thereby, boosting the demand for the product.
By End-use Industry
Building & Construction is projected as the most lucrative segment.
Global advanced glass market, by region
By region, Asia-Pacific is projected to be the fastest growing market, owing to rise in demand for advanced glass products and increasing in awareness among people to use advanced glass. In addition, Japan and China are concentrating more on building power generation solar panels, which in turn will contribute to the growth of the advanced glass industry. Therefore, the Asia-Pacific advanced glass market is expected to expand alongside its adoption in parent end-user markets such as transportation (automotive and aerospace), building, and power generation.
By Region
North America holds a dominant position in 2019 and would continue to maintain the lead over the forecast period.
Key Benefits For Stakeholders
The report provides an in-depth analysis of the advanced glass market trends along with the current and future market forecast.
This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period.
Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the global advanced glass industry for strategy building.
A comprehensive advanced glass market analysis covers factors that drive and restrain the market growth.
The qualitative data in this report aims on market dynamics, trends, and developments.
Advanced Glass Market Report Highlights
| Aspects | Details |
 By Function |
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 By Product Type |
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 By End Use Industry |
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 By Region |
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 Key Market Players | Corning Inc., Asahi Glass Co., Huihua Glass Co. Limited, Advanced Glass & Mirror Inc., Sisecam Group, Tyneside Safety Glass, Nippon Sheet Glass Co. Ltd., Saint Gobain, Fuyao Glass Industry Group Co. Ltd., Koch Industries |
Analyst Review
As per the CXOsof the leading companies, the global advanced glass market is moving towardgrowth stabilization phase in its industry life cycle. Therefore, the market is expected to witness steady growth, owing to several factors such as rise in disposable income, increase in urbanization, change in lifestyles, and increase in construction activities. The market is significantly dominated by the building & construction and automotive end-user industries, owing to the implementation of stringent laws & regulations pertaining to safety codes. In addition, the Asia-Pacific region is expected to experience robust growth duringthe forecast period as a result of increased construction activities and rapid development of manufacturing industries such as the automotive industry. Advanced glasses provide a number of facilities to automotive industrysuch as resistance against water, fog, dust, and ultraviolet (UV) radiations. Several government agencies and market players showed interest in investing in the advanced glass market for automotive industries because of increased R&D activities in this sector. Advanced glass is primarily used in rear & side view mirrors, sunroofs, windshields, backlights, and sidelights, which is expected to drive their adoption;thus, driving the market growth.
Factors such as rapid urbanization and growth of the construction industry are expected to drive the growth of the global advanced glass market.
The global Advanced Glass market anticipated to grow at CAGR of 7.6% during the forecast period.
The key trend observed in the global Advanced Glass market are involvement of players towards research and development of new advanced glass products.
Asia Pacific region is expected to provide lucrative growth opportunities to the global Advanced Glass market.
New product launches, business expansions, and acquisition are the major growth strategies adopted by the players in this market.
The market players are adopting various growth strategies and also investing in R&D extensively to develop technically advanced unique products which are expected to drive the market size.
Safety & security is the largest segment in the global Advanced Glass market.
Major customer of the advanvced glass are from building & construction, automotive manufacturers, electronics device users, and aerospace & defense sector are the key potential consumers in the advanced glass market.
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