Top 3 trends that may boost tempered glass market size by 2024

The tempered glass market is poised to record substantial gains owing to increasing infrastructure spending and robust commercial construction of malls, hospitals, hotels and offices. The demand for solar PV panels for power generation as well as for energy-efficient buildings has surged considerably due to the threat of harmful GHG emissions.

Tempered glass is used across these applications as it is four to five times stronger than regular or annealed glass and has antibreakage properties that provide high security and safety. It is used in furniture, residential construction, automotive and in several gadgets such as laptops, smartphones and tablets.

The need to offer sustainable and energy-efficient products to customers has urged tempered glass manufacturers to develop innovative solutions. In 2018, Guardian Glass Europe launched its new double-silver coated solar control glass available in both tempered and annealed versions, having features such as thermal insulation, solar control and high light transmission. Based on such developments, Global Market Insights, Inc., reports that the tempered glass market is likely to grow over USD 40 billion by 2024.

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Elaborating on some of the ongoing trends in tempered glass market:

1) Robust product application in the automotive sector

Tempered glass is fitted in the side and rear windows of vehicles to keep passengers safe from injuries and accidents. It is heat treated through several chemical processes after which it undergoes rapid cooling which gives the glass strength. Upon breakage, these glass shatter into pebble-like pieces that are harmless, thereby offering added safety to passengers.

The demand in tempered glass market from the automotive industry is expected to grow above USD 11 billion over the coming years. High production of commercial and passenger vehicles in countries like India, Japan and China is anticipated to be another growth driver.

Key Point TOC:

Chapter 6. Company Profiles

6.1. Saint-Gobain S.A.
6.1.1. Business Overview
6.1.2. Financial Data
6.1.3. Product Landscape
6.1.4. SWOT Analysis
6.1.5. Strategic Outlook

6.2. Asahi Glass Co., Ltd.
6.2.1. Business Overview
6.2.2. Financial Data
6.2.3. Product Landscape
6.2.4. SWOT Analysis
6.2.5. Strategic Outlook

6.3. Guardian Industries
6.3.1. Business Overview
6.3.2. Financial Data
6.3.3. Product Landscape
6.3.4. SWOT Analysis
6.3.5. Strategic Outlook

6.4. Pilkington Group Limited
6.4.1. Business Overview
6.4.2. Financial Data
6.4.3. Product Landscape
6.4.4. SWOT Analysis
Continue…

2) High-rise requirement in furniture products

Tempered glass finds extensive application in furniture such as bookshelves, television stands, table-tops, side tables and cabinets construction. The furniture application segment is estimated to record demand exceeding USD 1.3 billion over the forecast timeframe. Growing household expenditure for interior decoration to increases overall appeal and safety is expected to boost product demand.

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3) Europe to emerge as a lucrative business ground

Europe tempered glass market led by France, Germany and UK is projected to reach over USD 9.5 billion in the upcoming years. This growth can be given to increasing construction spending in the residential sector on account to surge in immigration in Netherlands and Germany.

Presence of major automobile companies such as Audi, BMW and Mercedes could bring about new demand in the tempered glass marketplace.

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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Contact Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
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Email: sales@gminsights.com

This release was published on openPR.