A recent study by Triton Market Research titled ‘Global Advanced Glass Market’ comprises the Global Analysis and Forecasts by End-user (Automotive, Aerospace and Defense, Optical, Sports and Leisure, Electronics, Building & Construction, Others), Function (Safety & Security, Solar Control, High Performance, Optics and Lighting), Product Type (Ceramic Glass, Toughened Glass, Coated Glass, Laminated Glass), and by Geography (Europe, Asia-Pacific, Middle East and Africa, North America, Latin America).
Advanced glass is known for its unique features and properties, and is a specialized grade of glass. Coated, laminated, and ceramic glasses are the widely used types of advanced glass. The solar control properties of these glasses enable them to be beneficial for use in industries such as electronics, automotive, building & construction, and optical, among others.
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Triton’s research report implies that the global advanced glass market would grow at a CAGR of 5.14% in revenue terms, and 4.36% in volume terms, during the forecast years 2019-2028. It is further probable to garner revenue worth $86.05 billion, as well as 78742.92 kilotons in volume by 2028.
The rise in urbanization, rapid surge in construction, and increase in demand for advanced glass in end-user industries are factors that are driving the development of the market. Infrastructure is one of the basic facilities that assists in advancing the economic growth of countries; and the rapid growth in construction activities in several economies enhances the demand for advanced glass. This further results in offering favorable conditions for the market’s growth. However, the volatile prices of raw materials and the environmental impact of glass production restrict the studied market’s development worldwide.
The advanced glass market is segmented into end-user, function, and product type. The end-user segment is divided into automotive, aerospace and defense, optical, sports and leisure, electronics, building & construction, and others. Based on function, it is segregated into safety & security, solar control, high performance, and optics and lighting. Whereas product type is separated into ceramic glass, toughened glass, coated glass, and laminated glass.
Geographically, the Asia-Pacific is estimated to be the fastest-growing region in the global market for advanced glass over the forecasting period. The region’s market is primarily motivated by the rapid construction activity owing to the rising industrialization in China, Korea, Japan, and India. Another factor favoring the market growth is the adoption of advanced glasses by the transportation industry. Additionally, China and Japan are focusing more on the construction of power generation solar panels, which will further influence the region’s advanced glass market growth. Therefore, the expanding construction industry and growing energy consumption will propel the studied market’s progress in the APAC region during the estimated years 2019-2028.
Tyneside Safety Glass, Guardian Industries, Fuyao Glass Industry Group Co Ltd, Sherwin Williams Company, Gentex Corporation, Advanced Glass & Mirror Inc, Xinyi Glass Holdings Limited, Pittsburgh Plate Glass Industries, Corning Inc, Pilkington Group Limited, Huihua Glass Co Limited, Nippon Sheet Glass Co Ltd, Asahi Glass Co, Saint Gobain, and Sisecam Group are some of the leading competitors in this market.
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Question & Answer: Advanced Glass Market
Question 1: What major factors are driving the growth of the advanced glass market?
Answer: The rise in urbanization, rapid surge in construction, and increase in demand for advanced glass in end-user industries are factors that are driving the development of the market. Infrastructure is one of the necessary facilities that assist countries, and the rapid growth in construction activities in several economies enhances the demand for advanced glass. This further results in offering favorable conditions for the market’s growth.
Question 2: What factors are restricting the advanced glass market development?
Answer: Factors such as the volatile prices of raw material and the environmental impact of glass production restrict the studied market’s development worldwide.
Question 3: Which region is estimated to be the fastest-growing in the global advanced glass market?
Answer: Geographically, the Asia-Pacific region is the fastest-growing market. The region’s market is primarily motivated by the rapid construction activity owing to the rising industrialization in China, Korea, Japan, and India. Another factor favoring the market growth is the adoption of advanced glasses by the transportation industry. Additionally, China and Japan are focusing more on the construction of power generation solar panels, which will further influence the region’s advanced glass market growth. Therefore, the expanding construction industry and growing energy consumption will propel the studied market’s progress in the APAC region during the estimated years 2019-2028.
Question 4: Which are the leading competitors in the advanced glass market?
Answer: Tyneside Safety Glass, Guardian Industries, Fuyao Glass Industry Group Co Ltd, Sherwin Williams Company, Gentex Corporation, Advanced Glass & Mirror Inc, Xinyi Glass Holdings Limited, Pittsburgh Plate Glass Industries, Corning Inc, Pilkington Group Limited, Huihua Glass Co Limited, Nippon Sheet Glass Co Ltd, Asahi Glass Co, Saint Gobain, and Sisecam Group are some of the leading competitors in this market.
Related Report:
The global recycled glass market is poised to progress at a CAGR of 6.02% (by revenue) during the forecast period of 2019-2028, while attaining $6646.46 million worth revenue by 2028. Also, it is expected to register a CAGR of 6.25% (by volume) in the forecast duration, and gain 50448.85 kilotons by 2028.
As glass does not decompose, it is vital to recycle this material, so that it can be used for alternative purposes. The recycling of glass undergoes several processes and can be used for different purposes, such as brick manufacturing or decorative application. These glasses can also be melted and molded into new products, including bottles and jars. Moreover, as the glass does not degrade in the process, it can be recycled repeatedly. The awareness relating to sustainable development is one of the factors motivating the process of recycling, which further positively impacts the recycled glass market.
Furthermore, the government regulations to support the glass recycling process further promotes the growth of the studied market. This upscale in the alertness for sustainable development and government support are directing the market’s expansion. However, the inadequacy in recycling activities is hampering the growth of the recycled glass market globally. Additionally, the high costs imposed on the glass recycling process is also challenging the market’s advancement.
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