Press release
Advanced Glass Market is expected to garner $70,254 Million by 2022
Advanced Glass Market
Advanced glass is a specialized grade of glass, which possesses characteristics such as high durability, UV resistance, design versatility, security, sound reduction, and others for specific end-use applications. The toughness of these glasses is derived from specialized chemical and mechanical process.
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The growth of the global advanced glass market is driven by development of construction industry and rise in demand for value-added products in certain end-use industries such as automobile & construction. In addition, increase in urbanization has fueled the demand for housing & commercial buildings, which in turn is expected to boost the market growth in the near future. Moreover, wide range of designs and safety offered by advanced glass are projected to propel its demand during the analysis period. However, volatility in raw material prices is expected to restrain the growth of the market. In addition, the advanced glass industry in Europe is anticipated to be impacted by the construction sector crisis.
Coated glass held more than one-third of the total market share in 2015, and is expected to maintain its dominance during the forecast period. This is attributed to the development of construction industry worldwide. In addition, the introduction of new product designs is expected to propel the growth of this segment in the near future.
Building & construction and automotive end-use industries dominated the global advanced glass market with more than half of the market share, in terms of volume, in 2015. Stringent regulations in construction and automotive sector pertaining to safety codes is anticipated to drive the advanced glass market during the analysis period.
Key Findings and Scope of the Advanced Glass Market Report
• In terms of value, the solar control segment is expected to grow at a CAGR of 8.3% during the forecast period.
• North America is projected to maintain its lead throughout 2022, and registering a CAGR of 6.2%, in terms of value.
• Building & construction end-use industry approximately occupied more than one-third of the total market in 2015.
• China occupied approximately two-fifths of the total Asia-Pacific advanced glass market in 2015.
• China is expected to grow at the fastest rate, growing at a CAGR of 10.5%, in terms of value.
In 2015, Asia-Pacific and North America collectively accounted for more than half of the total advanced glass market, and are expected to continue this trend, specifically in China, India, and other developing economies. Development in building & construction sector is the major factor for the growth of the market in Asia-Pacific.
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The key companies profiled in the report include Asahi Glass Co., Saint Gobain, Advanced Glass & Mirror, Inc., PPG Industries, Nippon Sheet Glass Co., Ltd., Corning Inc., Guardian Industries, and Sisecam Group.
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