Advanced Glass Market Expected to Reach $103.8 Billion by 2027

According to a new report published by Allied Market Research titled, “Advanced Glass Market by Type, Technology, End-User Industry, and Region: Opportunity Analysis and Industry Forecast, 2020–2027,” 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 form of superior glass and is made from advanced substances such as soda ash, natural gas, and silica sand and cutting-edge technologies. These are made from chemical and mechanical methods, depending on their applications for end use. They have some great advantages, such asanti-graffiti, anti-shattering, and ultraviolet light safety among others.

Building & construction industry held a largest advanced glass market share in the year 2019. Moreover, increase indemand for value-added products in some end-use industries such as the automotive. In addition, increase inurbanization fuels thedemand for residential & commercial buildings, which is expected to accelerate market growth in the near future. However, uncertainty in the prices of raw material restrains the market growth.

The demand for laminated glass market may increase during the forecast period. The change in customer preference related to modern architecture with enhanced aesthetics and infrastructural growth has resulted in expenditure on construction. Additionally, laminated glass blocked UV rays up to 99.9% and it offers high strength which prevents shattering of glass into large, sharp pieces on impact, resulting in increased demand for automotive windshield applications.

The building & construction and automotive end-use industries dominated the global market, owing tostringent regulations in construction and automotive sector pertaining to safety codes. 

The global advanced glass market is highly fragmented with major players focusing on agreements, expansions, and product launches. Increase in demand for safety and security is expected to drive the growth of the market in the near future. In addition, the presence of stringent safety codes in the automotive industry is anticipated to fuel the demand for advanced glasses during the analysis period. 

The players analyzed and profiled in the report 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.

Key Findings Of The Study:

• Based on function, the safety & security segment emerged as the global leader with more than 40% share in 2019. This can be highly attributed to high demand of solar control based glass in various end use industries

• By product type, coated glass segment dominated the global advanced glass market with around 30% global market share in 2019

• Countries such as China, India, and Indonesia are emerging as an investment centric hub due to wide scope in manufacturing sector