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TMR Analyzes Impact of Outbreak of COVID-19 on Fire Resistant Glass Market
Fire Resistant Glass Market
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.
On the basis of product type, fire resistant glasses can be classified into laminated, wired, ceramic, and tempered. Laminated fire resistant glasses have witnessed significant demand, especially across Europe. These glasses are preferred by architects and builders as they meet the building codes and fire safety regulations. Laminated fire resistant glasses are capable of blocking smoke and flames while resisting conductive and radiant heat.
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The key applications areas of fire resistant glass include boats, building and construction, defense, and others. The building and construction sector is the largest application segment of the global fire resistant glass market. Fire resistant glasses are extensively used to build fire windows, walls, and doors in hospitals, schools, and other commercial and residential buildings.
Global Fire Resistant Glass Market: Overview
A spike in fire-related accidents and loss of assets are the primary factors driving the the global fire resistant glass market. The market is witnessing a significant growth since the last decade. Implementation of various fire safety codes and regulations by governments across nations has also supported the growth of the market. Developed economies in Europe and North America have been at the forefront in implementing the fire safety regulations. The International Building Code (IBC) and National Fire Protection Association (NFPA) are the key regulatory bodies deciding the standards and codes for fire resistant products. Vendors in the market are required to adhere to these safety standards while developing innovative and novel fire resistant glasses. Furthermore, fire resistant glasses are needed to comply with various other building safety and fire protection norms such as UL 10B and UL 10C.
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Global Fire Resistant Glass Market: Region-wise Outlook
The global fire resistant glass market has been segmented into four key regions: Europe, Asia Pacific, North America, and Rest of the World. Europe is one of the largest consumers of fire resistant glass, followed by Asia Pacific. Factors such as stringent fire safety regulations across the European Union, growing construction industry across Germany and Poland, and comparatively higher processing of fire resistant glass are aiding growth of the Europe fire resistant glass market. In Asia Pacific, the rapid growth of the construction sector across urban areas has fuelled the demand for fire resistant glasses. In fact, Asia Pacific is anticipated to witness the fastest growth in the market during the forecast horizon owing to the growing demand from India, China, South Korea, and Indonesia.
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Global Fire Resistant Glass Market: Vendor Landscape
Some of the key players operating in the global fire resistant glass market are Glass Dynamics Inc. (U.S.), Nippon Electric Glass Co. Ltd. (Japan), Nippon Sheet Glass Co. Ltd. (Japan), Schott AG (Germany), Promat International N.V. (Belgium), Asahi Glass Co. Ltd. (Japan), Compagnie De Saint Gobain (France), Ravensby Glass Co. Ltd. (U.K.), Technical Glass Products (U.S.), SAFTI FIRST Fire Rated Glazing Solutions (U.S.), and Fuso Glass India Pvt. Ltd. (India). The market players are focusing on mergers and acquisitions, and joint ventures to expand their market share. Furthermore, various fire resistant glasses for refineries, buildings, and ships are being developed by the players.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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