What are the Growth Drivers of Advanced Glass Market? Guardian Industries, Cardinal Glass Industries, Saint-Gobain, Şişecam, PPG Industries, Schott, Asahi Glass Co., Ltd., Press Glass, Carlex Glass America, LLC, Metro Performance Glass
Advanced glass is essentially normal glass that has been reinforced to suit the needs of a certain type of application or to simply be more resistant to external forces. The demand for this type of glass has been increasing exponentially on account of its aesthetic appeal, pushing advanced glass market growth. In 2016 alone, this business space was worth more than $60 billion.
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Coated glass, in recent years, has emerged to be significant contributor toward the growth of advanced glass industry, pertaining to its rising demand on the grounds of its special reflective coatings and increased conductivity.
Apparently, the coating on glass is made to act like a mirror for long-wave infrared radiation that limits the absorption of infrared radiation in buildings. The coatings also have low emissivity which increases the energy efficiency of buildings. It is estimated that low emissivity coated advanced glass industry will witness a 6.5% CAGR between 2017-2024.
Despite the introduction of humongous numbers of raw material, glass still stands as one of the most pivotal elements on account of its aesthetic beauty and its transparency. With the product finding increased applications in the construction and automotive industries, advanced glass market size is certain to witness a massive upsurge. As the application scope for glass increases further in the ensuing years, advanced glass industry is projected to experience an exponential growth rate, with a target revenue estimation of more than $110 billion by 2024.
- Growth drivers are
• North America: Growth in energy efficient building projects
· Growth in passenger and commercial vehicle production
· Increase use of glass in building facades along with growth in construction projects
• Asia Pacific:
· Increase in infrastructure spending
· Rise in automobile sales along with increase in vehicle manufacturing capacities
• LATAM: Growth Acceleration Program in construction and transportation sectors in Brazil
• MEA: Government support on recycling of used glass
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Tempered glass is one of the most prominently used types of advanced glass, widely recognized for its high temperature resistance and strength. Driven by its favorable properties, it is increasingly used in the automotive and construction sectors, thus stimulating tempered advanced glass market. Tempered glass in fact, has emerged to become one of the most preferred forms of glass to be used in windshields, thus enabling advanced glass industry to have found a profitable growth avenue in the automotive domain, which is growing at a remarkably fast-paced growth rate lately.
Tempered glass not only has a high strength threshold but also when commendable shatter resistance – that is to say, unlike regular glass, it does not break into long sharp shards but rather disintegrates into small granular pieces which are almost harmless.
Naturally, the material is widely used in the construction sector, as buildings require highly resilient glass that can withstand periodic contractions and expansions. Undeniably, tempered advanced glass market has found a viable end-use avenue in the construction sector. Tempered glass also finds uses in various household items like furniture, cookware, microwaves, refrigerators, and washing machines, further expanding its application scope.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Saint-Gobain S.A.
2. Asahi Glass Co., Ltd.
3. Guardian Industries
4. Pilkington Group Limited
5. Shanghai North Glass Technology Industrial Co., Ltd.
6. PPG Industries, Inc.
7. Cardinal Glass Industries, Inc.
8. Virginia Glass Products Corporation
9. Press Glass SA
10. FUSO Glass
11. Abrisa Technologies
12. Sisecam Group
13. Shree Rang Glass
14. Bulit Glass Ltd.
15. Tyneside Safety Glass
16. Schott AG
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Laminated glass comprises structural polymer interlayers, which is a pivotal factor that aids this material to maintain its structure even after breaking, on the grounds of which it has found increased applications in the construction of railings, skylights, and floors. The rising demand for laminated glass on account of its capability to block 99.9% of UV rays has also stimulated advanced glass industry. Laminated advanced glass industry size is estimated to surpass $45 billion by 2024 – a valuation forecast that may have a tremendous impact on the overall market share.
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