Press release
Low-Temperature Laminated Glass Market Booming Higher Growth Rate and Forecast 2021 - 2028
In the past years, the consciousness and awareness regarding safety and aesthetics have increased. The laminated glass increases the safety parameter and becomes a viable application in the automotive and construction industries. This attribute is fueling the product demand and is expected to benefit the market in the forthcoming years.
COVID-19 Impact-
Due to the various measures like lockdowns and curfews adopted to curb the pandemic, the production and consumption levels of the tempered glass have reduced significantly. The shutdown of plants and manufacturing units has declined the revenues of businesses operating in the market. The market is currently facing slow growth as the automotive and construction industries have also been negatively affected by the pandemic. However, several countries are uplifting lockdowns, and industries are gradually gaining traction. The market is anticipated to gain swift momentum post-pandemic.
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Segmentation-
On the basis of type, the market segments into bulletproof laminated glass and ordinary laminated glass. On the basis of application, the market divides into electrical & electronics, automotive, construction, etc. Geographically, the market is categorized into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
Report Coverage-
• The report provides an exhaustive analysis of the prospected market.
• The report highlights the technological, social, economic, political, and economical aspects of regional growth for the prospected market.
• The report is derived through primary and secondary sources of information that include interviews with reputed stakeholders in the market.
• The report highlights the technological advancements, new product launches, key market trends, etc., prevailing in the market.
• The report demonstrates the effects of the COVID-19 pandemic and suggests strategies for growth in the forthcoming years.
Drivers & Restraints-
Spiraling Demand from Construction & Automotive Industries to Fuel Market Growth
Laminated glass is strong, durable, and provides safety. it is designed to remain intact upon impact; this makes it extremely useful in the automotive and construction industries. The automotive industry utilizes the product to manufacture windshields for vehicles. On the other hand, the construction industry utilizes the product in commercial and residential buildings. It provides heat and sound insulation and also provides UV resistance. This makes it useful for application in the construction industry. Additionally, it can also protect people from the effects of calamities like hurricanes, bomb blasts, and earthquakes. These exceptional qualities are expected to promote global low-temperature laminated glass market growth in the forthcoming years. However, the high costs of low-temperature laminated glass are likely to act as a retrain to market growth.
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Regional Insights-
Asia Pacific to Observe Swift Growth
Increasing urbanization and increasing construction activities in countries like India and China are likely to help Asia Pacific witness swift growth in the upcoming years.
Europe is expected to gain a substantial portion of the global low-temperature laminated glass market share. This is attributable to the increasing application of ordinary laminated glass by the automotive sector. North America is anticipated to witness significant growth due to the rapidly expanding electronics industry. Increasing adoption of bulletproof laminated glass is likely to aid the market in the Middle East & Africa, and Latina America in the forthcoming years.
Competitive Landscape-
Major Players Focus on Expansions & Product Developments
Key market players are investing meticulously in research and development activities to develop new and efficient products. Manufacturers are focusing on making technological advancements to provide creative solutions in the market. Major players are also focusing on expansions, collaborations, mergers & acquisitions to expand their market presence. For instance, Saint Gobain launched an expansion worth INR 1200 Crores at its Sriperumubudur manufacturing plant in February 2019. The expansion includes the installation of a new float glass unit, an advanced magnetron coater and glass solution lines, and an extra capacity rainwater reservoir.
Industry Developments:
July 2019: Şişecam Flat Glass introduced its new product called Şişecam Extra Strong Laminated Glass. The product will help architects to design wide glass openings with more ease.
Key Players in the Global Low-Temperature Laminated Glass Market are:
• Saint Gobain Glass
• Glorious Future Glass Co. Ltd.
• Stevenage Glass Company Ltd.
• Xinology Co. Ltd.
• Seves Glassblock
• Carlex Glass America LLC
• Şişecam Group
• GUARDIAN GLASS LLC
• AC Glass Company
• GSC GLASS LTD.
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