Tempered Glass Market Expected to Reach $65 Billion by 2023

Global Tempered Glass Market was valued at $46 billion in 2016, and is projected to reach $65 billion by 2023, registering a CAGR of 5.0% from 2017 to 2023. Tempered glass also known as toughened glass, is known to be four times stronger than simple annealed glass. Tempered glass is produced by heating the silica mix up to 600°C and then rapidly cooling the molten silica. Tempered glass is widely used in automotive window panes, building windows, furniture, and interior activities of buildings.

Growth in use of tempered glass in automotive and construction industry drives the market. However, stringent government regulations in the automotive and construction industry restricts the market growth. Increase in construction activities in emerging economies such as India, Indonesia, Brazil, Argentina, and the Middle East offers growth opportunity for the tempered glass market.

The global tempered glass market is segmented based end-use industry and geography. Based on end-use industry, it is divided into construction, automotive, and others. By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Asia-Pacific is expected to witness the highest growth rate in the global tempered glass market, owing to high demand from emerging economies such as India, China, South Korea, and others. In addition, increase in construction expenditures in these countries such as Singapore, India, Australia is expected to increase the demand for tempered glass market.

Top Investment Pockets

The tempered glass market in China is anticipated to be the most lucrative market for manufacturers soon, owing to the increased demand from end-use industry such as automotive, and construction. Latin America is also projected to offer growth opportunity for the manufacturers due to the rise in the automotive industry.

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Segment Review

In 2016, the construction segment accounted for the highest share in 2016, registering a CAGR 5.1% from 2017 to 2023. The segment is driven by its increased construction projects in countries like India, Singapore, Latin America, and Middle-East. The automotive segment is projected to witness the highest growth during the forecast period because of the increased production of automobile in China, and Europe.

LAMEA Review

The tempered glass market in Middle East is estimated to be the largest in the LAMEA region and is estimated to attract manufacturers during the forecast period. Growth in construction projects in countries like UAE, Qatar, and Saudi Arabia drives the market in the region.

The key players profiled in the report include Saint-Gobain, Guardian Industries, NSG Group, Asahi Glass Company (AGC), PPG Industries, AFG Industries, Pilkington, Cardinal FG, Shanghai Northglass Technology & Industry Co., Ltd., and AYG Coating Glass Co., Ltd.

The other key players in the value chain (not profiled in this report) include Zhejiang Glass Company Limited, Jinjing Group, HNG Group, Sejal Float Glass, and Gold Plus Glass.

Key Benefits :

• The report provides an in-depth analysis of the current trends, drivers, and dynamics of the global tempered glass market to elucidate the prevailing opportunities and tap the investment pockets.
• It offers qualitative trends and quantitative analysis of the global market from 2016 to 2023 to assist stakeholders to understand the market scenario.
• In-depth analysis of the key segments demonstrates the market potential of the tempered glass industry.
• Competitive intelligence of the industry highlights the business practices followed by key players across geographies and prevailing market opportunities.
• Key market players and their strategies & developments are profiled to understand the competitive outlook of the market.

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