Advanced Glass Market to expand at a healthy 6.8% CAGR from 2020 to 2030

Posted by omkar on October 9th, 2019

The Global Advanced Glass Market held USD 53.93 Billion in 2018 and is predicted to reach USD 96.7 Billion by 2027 with a CAGR of 6.8% from 2020-2030. Advanced glasses are specialized glasses produced using advanced technologies and materials that has special properties such as resistance to ultra-violet rays, solar control, coating, and durability. These glasses are widely being used in several applications such as in electronics, construction, automotive, and others.

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Increasing demand for better constructions for residential, commercial and infrastructure buildings along with growing industrialization has lifted the market growth. In addition, the trends for the reducing several electronics equipment is also are powering the requirement for highly precise structured glass. This further is helping in the expansion of the advanced glass market. Adding to it, the advanced glass market size is likely to reach at a considerable value by 2027.  

The factors including increasing demand for value-added products in specific end-use industries, developing economies converting into large markets, and surge in urbanization majorly driven the advanced glass market. The growth of construction industry worldwide and stringent building & automobile safety codes has further supplemented the advanced glass market growth. However, fluctuating prices of raw materials and construction sector crisis is hampering the growth of the advanced glass market. The heavy investments in research and development activities, rising building & construction industry in the emerging countries, and advanced glass providing greater flexibility design with safety is expected to create new opportunities for the market growth in future.

The advanced glass market is segmented on the basis of application, end user, and geography. On the basis of glass type, the market is segmented into laminated glass, coated glass, toughened glass, others. The others segment further includes chemically strengthened glass, ceramic glass, and filter glass. On the basis of function, the market covers optics & lighting, high performance, safety & security, solar control, and others. On the basis of verticals, the market is classified into construction, electronics, aerospace & defense, automotive, sports & leisure, and other. The construction segment is divided into residential, commercial, and infrastructure. Geographic breakdown and analysis of each of the aforesaid segments is included for the regions including North America, Europe, Asia-Pacific, and LAMEA.

North America denotes a higher adoption of the advanced glass and is anticipated hold the highest market share during the forecast period. This is attributable to the factors including growth in energy efficient building projects, high R&D investments, high consumer awareness, and technological advancements.

It is expected that the emerging economies, specifically in the Asia-Pacific region would witness increasing market size owing increase in infrastructure spending, demand for advanced glass products, and increased automobile sales along with increasing in vehicle manufacturing capacities.

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Comprehensive competitive analysis and profiles of the major market players such as Asahi Glass Co., Ltd., Saint Gobain S.A., Nippon Sheet Glass Co., Ltd., Corning Inc., GrayGlass Company, Schott AG, Advanced Glass & Mirror, Inc., Guardian Industries, Sisecam Group, PPG Industries, Inc., Abrisa Technologies, Central Glass Co., Ltd., Euroglas GmbH, and among others are provided in the advanced glass market report. The report covers a deep analysis of the advanced glass market share.