Fire Resistant Glass Market Size Forecast to Reach $11.5 Billion by 2025

Fire Resistant Glass Market size is forecast to reach $11.5 billion by 2025, after growing at a CAGR of 12.1% during 2020-2025. Fire resistant glasses control smoke, fire, and heat, thereby letting safe passage in case of fire. The rise in fire-related accidents has propelled the demand for fire resistant glasses. Lately, it has been observed that the market for passive fire protection has grown significantly. It can be attributed to the low maintenance cost of passive fire protection as compared to active fire protection. Furthermore, the performance and reliability of passive fire protection systems are higher than that of active fire protection systems. Fire resistant glass is one of the passive protection systems and hence, it is witnessing increasing adoption across various sectors.

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By Type - Segment Analysis

Ceramic segment held a significant share in fire resistant glass market in 2019. Growing use of ceramic glass in the form of insulated glass units (IGU) owing to its superior fire resistance from 20 minutes to 3 hours, along with the ability to withstand thermal shock, is likely to drive the demand over the forecast period. In addition, the sound insulation properties of the ceramic products boost its demand, which is likely to have a positive influence on the fire resistant glass market growth. The demand for ceramic fire resistant glasses is mainly driven by their ability to provide aesthetic appeal to the end products at lower prices and resistance to thermal shock during firefighting, in comparison to the laminated glasses.

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By Application - Segment Analysis

Building & Construction segment held a significant share in fire resistant glass market in 2019 growing at a CAGR of XX% during the forecast period. These glasses are largely used in building & construction industry to prevent the spread of flames and smokes and block the transfer of radiant and conductive heat. The increasing building safety codes and fire safety regulations in major markets along with increasing demand for passive fire protection are driving the market for fire resistant glasses in this segment. Marine is anticipated to be grow at a significant pace ver the forecast period. The growth is attributed to rising use of fire resistant glass in ships and yachts to prevent the sinking of vessel containers in the event of fire break out.

The coronavirus outbreak, which originated in Wuhan, China, has impacted the growth of industrial economy. The building and construction industry is among the crucial sectors hit by the COVID-19 pandemic. To prevent the spread of the outbreak, governments in many countries have enforced lockdowns, restricting the movement of people as well as goods. Due to several government restrictions put in place in these regions, many construction activities have either been temporarily halted, postponed, or entirely cancelled.

Geography- Segment Analysis

North America dominated the fire resistant glass market with a share of more than XX%, followed by Asia Pacific and Europe. Rising investments by foreign companies; growing production facilities; strong industrial base for the construction, marine, and automotive sectors; and rise in standard of living are the major factors contributing to the growth of the fire resistant glass market in this region. The stringent norms for use of these glasses in schools and healthcare facilities are also driving the demand for fire resistant glass in the region. Growing emphasis by the regional governments in the mature economies of North America and Europe to obtain compliance certificate related adherence to fire safety norms of the buildings and infrastructure is expected to fuel the industry growth over the forecast period.

In United States, The National Fire Protection Association (NFPA) was founded by insurance companies for standardizing the new market of fire sprinkler systems. NFPA created a set of codes named Comprehensive Consensus Codes, which include NFPA 5000 as the central building code, NFPA 101, and Life Safety Code. The codes explained in detail the minimum requirements for protecting occupants against toxic fumes, smoke, and fire in new and existing buildings. This is expected to lead to a growth of the fireproofing coatings market. Thirty-nine states in the United States adopted the NFPA 101 and the Life safety Code, ensuring that buildings are protected as well as all systems and services are correctly maintained. Such strict regulations pertaining to fire safety and building safety in the country is expected to boost product demand in the coming years. The aforementioned factors, coupled with government regulations, are contributing to the increasing demand for fire-resistant glass in North America.

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Drivers – Fire Resistant Glass Market

Increasing usage of fire resistant glass by various end use industries

A rapidly-growing world population has considerably increased the need for high-quality residential and commercial infrastructure that complies with international building and construction standards. Fire departments across the globe have responded to a significantly high number of fire incidents over the past decade. This has encouraged governments to tighten fire safety standards in both residential and commercial buildings. The automotive industry is also among the leading consumers of fire rated glass. With a growing focus on improving vehicle as well as passenger safety in modern vehicles, many automakers are looking to install high-quality fire rated glass in windshields and windows. The manufacturers and suppliers of fire-resistant glass products are bound to witness lucrative opportunities in the near future, with rapid expansion of the construction sector and robust demand for premium vehicles.

Challenges – Fire Resistant Glass Market

Raw material prices

The increase in raw material prices is one of the major challenges to the growth of the market. Raw materials such as silica sand, soda ash, silicates, and limestone used in the manufacturing of glass are expensive. The fluctuating prices of these raw materials lead to an increase in the production costs. For instance, soda ash, one of the expensive raw materials used in glass manufacturing accounts for around 60% of total cost of raw materials.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the fire resistant glass market. In 2019, the market of fire resistant glass has been consolidated by the top five players accounting for xx% of the share. Major players in the fire resistant glass market are Glass Dynamics Inc., Nippon Electric Glass Co. Ltd., Nippon Sheet Glass Co. Ltd., Schott AG, Promat International N.V., Asahi Glass Co. Ltd., Compagnie De Saint Gobain, Ravensby Glass Co. Ltd., Technical Glass Products, SAFTI FIRST Fire Rated Glazing Solutions, and Fuso Glass India Pvt. Ltd. among others.

Product Launch/ Acquisition

In 2016, SAFTI FIRST launched its series of SuperLite II-XLB, the fire resistive glass product with the largest clear view area for 60 to 120 minute applications with hose stream.

Key Takeaways

New product developments and increasing investments in research and development of fire resistant glass are expected to drive the growth of this market.

Rising emphasis on improving the fire safety standards of the commercial as well as residential infrastructure is expected to have a positive impact on the industry growth.

Asia Pacific dominated the fire resistant glass market.

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https://www.industryarc.com/Report/11690/fire-resistant-fabrics-market.html

B. Fire Resistant Cable Market
https://www.industryarc.com/Research/Fire-Resistant-Cable-Market-Research-500249

For more Chemicals and Materials Market reports @ https://www.industryarc.com/Domain/4/chemicals-materials-market-research.html

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