The Global Advanced Glass Market Evaluated to Attain $86.05 Billion in Revenue by 2028

According to Triton’s report, the global advanced glass market, which acquired $54.79 billion in 2019, is set to witness growth at 5.14% of CAGR by 2028.

A recent study by Triton Market Research titled ‘Global Advanced Glass Market’ consists of the Global Analysis and Forecasts by Function (Solar Control, Safety & Security, Optics and Lighting, High Performance), Product Type (Coated Glass, Laminated Glass, Ceramic Glass, Toughened Glass), End-user (Sports and Leisure, Building & Construction, Electronics, Aerospace and Defense, Automotive, Optical, Others), and by Geography (North America, Middle East and Africa, Latin America, Europe, Asia-Pacific).

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Triton's research report estimates the global advanced glass market to grow based on revenue and volume at a CAGR of 5.14% and 4.36%, respectively, during the anticipated period of 2019-2028. It is evaluated to display revenue worth $86.05 billion by 2028. Further, the market is expected to gain 78742.92 kilotons by 2028.

A specialized quality of glass is referred to as advanced glass. Its distinctive properties help its usage in several industries, including automotive, electronics, and optical. Coated glass, laminated glass, toughened glass, and ceramic glass are some of the advanced glasses which are widely used across industries.

Infrastructure is one of the necessary facilities that serve a nation’s progress. The increase in population leads to a surge in residential housing requirements, further enhancing construction activities. This rapid construction in structures such as commercial and residential buildings, airports, and others, influence the demand for advanced glasses, thereby contributing to the market’s progress. Further, the increase in urbanization, along with a rise in demand for advanced glass in end-user industries, has also directed the advanced glass market on a positive growth pathway.

However, the volatile prices of raw materials, such as polycarbonates, germanium dioxide, and alumina, have largely affected the global advanced glass market. Additionally, the usage of earth metals oxides like scandium to enhance the value-added features increases the cost of production. The environmental impact of glass production is another aspect that is hindering the market’s evolution.

The market for advanced glass is sectioned into function, product type, and end-user. The function section is divided as per solar control, safety & security, optics and lighting, and high performance. Simultaneously, product type is divided into coated glass, laminated glass, ceramic glass, and toughened glass. Lastly, end-user is segregated into sports and leisure, building & construction, electronics, aerospace and defense, automotive, optical, and others.

In Asia-Pacific, the growing population and rise in the economy are augmenting the construction industry’s growth. Moreover, the rapid increase in technology and a surge in consumer spending in China, Japan, and India have led to enhanced solar and wind energy production. The high focus on constructing power-generating solar panels in China and Japan also increases the demand for advanced glass. Hence, the construction industry’s growth and rise in energy consumption are likely to expand the advanced glass market in the region during the projected phase. Additionally, the market is also positively impacted by the increase in the adoption of advanced glass in the transportation industry.

Saint Gobain, Advanced Glass & Mirror Inc, Sherwin Williams Company, Pilkington Group Limited, Huihua Glass Co Limited, Sisecam Group, Xinyi Glass Holdings Limited, Fuyao Glass Industry Group Co Ltd, Pittsburgh Plate Glass Industries, Asahi Glass Co, Guardian Industries, Nippon Sheet Glass Co Ltd, Corning Inc, Tyneside Safety Glass, and Gentex Corporation are key companies in the advanced glass market.

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Question & Answer: Advanced Glass Market

Question 1: What elements are contributing to the growth of the advanced glass market?
Answer: Infrastructure is one of the necessary facilities that serve a nation’s progress. The increase in population leads to a surge in residential housing requirements, further enhancing construction activities. This rapid construction in structures such as commercial and residential buildings, airports, and others influence the demand for advanced glasses, thereby contributing to the market’s progress. Further, the increase in urbanization, along with a rise in demand for advanced glass in end-user industries, has also directed the advanced glass market on a positive growth pathway.

Question 2: What factors are hindering the evolution of the advanced glass market?
Answer: The volatile prices of raw materials such as polycarbonates, germanium dioxide, and alumina have largely affected the global advanced glass market. Additionally, the usage of earth metals oxides like scandium to enhance the value-added features increases the cost of production. The environmental impact of glass production is another aspect that is hindering the market’s evolution.

Question 3: Which region is directing the global advanced glass market growth?
Answer: In Asia-Pacific, the growing population and rise in the economy are augmenting the construction industry’s growth. Moreover, the rapid increase in technology and a surge in consumer spending in China, Japan, and India have led to enhanced solar and wind energy production. The high focus on constructing power-generating solar panels in China and Japan also increases the demand for advanced glass. Hence, the construction industry’s growth and rise in energy consumption are likely to expand the advanced glass market in the region during the projected phase. Additionally, the market is also positively impacted by the increase in the adoption of advanced glass in the transportation industry.

Question 4: Which are the key companies present in the advanced glass market?
Answer: Saint Gobain, Advanced Glass & Mirror Inc, Sherwin Williams Company, Pilkington Group Limited, Huihua Glass Co Limited, Sisecam Group, Xinyi Glass Holdings Limited, Fuyao Glass Industry Group Co Ltd, Pittsburgh Plate Glass Industries, Asahi Glass Co, Guardian Industries, Nippon Sheet Glass Co Ltd, Corning Inc, Tyneside Safety Glass, and Gentex Corporation are key companies in the advanced glass market.

Related Report:
Global Recycled Glass Market

The global recycled glass market is likely to display growth in its revenue during 2019-2028 at a CAGR of 6.02%. It is set to acquire revenue worth $6646.46 million by 2028. Further, it is estimated to register a CAGR of 6.25%, in terms of volume, over this period, gaining 50448.85 kilotons by the year 2028.

Glass is a material that cannot decompose, which makes it essential for glass products to be recycled and used for other purposes. These products go through several processes when recycled, and are useful for different purposes, including brick manufacturing and decorative application. Consumers can recycle glasses to form new products such as bottles and jars. Since these glasses do not degrade during the process, they are suitable to be recycled frequently. Moreover, awareness among the consumers regarding sustainable development is also enhancing the recycling process, simultaneously boosting the market’s growth.

The government policies and regulations to strengthen the glass recycling process also contribute to the development of the recycled glass market. However, the high cost levied on the glass recycling process and the inadequacy in recycling activities are factors hampering the studied market’s progression.

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