What's driving the Tempered Glass Market growth? NSG, Asahi, PPG Industries, and Saint-Gobain Fuso, Guardian Industries
The change of events observed in the business space lately is expected to bring a consequential transformation in the way tempered glass market has been perceived for long. Say for instance, recently, renowned Indian glass maker, Borosil, has inaugurated a new tempered glass facility at its already established high performing solar glass plant at Bharuch. Experts believe, this million-dollar project, in effect, would significantly curtail the cost of solar power, in addition to improving its viability for consumers.
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According to a new research report by Global Market Insights, Inc. Tempered Glass Market size is likely to exceed USD 40 billion by 2024.
Growth drivers are
1. Asia Pacific: Increasing construction industry
2. Europe: Positive automotive industry outlook
3. North America: Favorable regulations
4. MEA: Expansion of construction industry
5. Latin America: Increasing smartphone market in Brazil
Powered by a plethora of conventional as well as offbeat application arenas, tempered glass market undoubtedly is one of the most opportunistic, remunerative, business spheres of recent times. While the safety glass technology has already proliferated across automotive, construction, home appliances, greenhouse, and electronics sectors, the latest addition in the application spectrum is photography, rather in photography filters. Subject to this fact, tempered glass industry space recently witnessed the inception of world’s first tempered glass GND (graduated neutral-density) and ND (neutral-density) filters. This new line of absolutely groundbreaking filters was officially launched in the mid of last year by San Francisco-based renowned giant, Breakthrough Photography.
Sources claim- this new filter group, under its canopy, includes products like X4 GND, X4 ND Square, Dark CPL, and X100 Holder. Apparently, X4 ND Square and X4 GND filters are deemed to be the sharpest and toughest of its kind, cite sources. Given the backdrop where researchers have been rigorously experimenting with this toughed glass in a bid to profile its application in various unorthodox spheres as well, tempered glass market, undeniably, stands in considerably paramount business position today. As estimated by Global Market Insights, Inc., overall tempered glass industry pegged a valuation of USD 24.5 billion in the year 2016.
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Geographically, tempered glass market demand has observed a marked upsurge across emerging economies such as India, China, and Brazil, where the construction sector has been on a robust incline since the past few years. When it comes to selecting glazing products for applications that demand safety, strength, and durability, architects have always preferred tempered glass. Primarily on account of its unique blend of properties like superior strength and shatter resistance, tempered glasses, nowadays, are extensively deployed in modern construction applications in compliance with the safety glazing standards like CPSC 16 CFR 1201, and ANSI Z97.1. The projection that claims tempered glass industry share from commercial construction application to surpass a revenue of USD 12.5 billion by 2024, is further validating the aforementioned fact.
In this regard, it is imperative to mention that regional governments have had an indirect yet pronounced influence on tempered glass market proliferation, especially in this particular vertical. Say for instance, the China Government has been making quite some profound investments in green building facility since the past few years, which by extension has notably upscaled the product consumption in the regional infrastructural projects. In tandem, the country’s extensive growth toward central National New-Type Urbanization Plan is also claimed to complement the business expansion in the region. As per estimates, China tempered glass market is slated to cross a valuation of USD 4.5 billion by 2024.
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It is undeniable that the ongoing experimentation that is presently outlining tempered glass marketplace, itself, is a testimony of the expanding application scope of the business sphere. However, volatility in raw material prices might create a supply demand gap in the value chain, hampering the profitability quotient to some extent. Nonetheless, in an effort to respond to the challenge, renowned giants involved in tempered glass market have been incessantly taking initiatives toward increasing the production capacity and expanding the product portfolio. All in all, taking into consideration the multitude of application spheres that tempered glasses are engaged to, tempered glass industry is sure to make massive turnarounds in terms of profits over the coming years, exceeding a valuation of USD 40 billion by 2024.
Contact Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Toll Free: 1 888-689-0688
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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