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Advanced Glass Market Growing at Exponential CAGR with Innovative Technology | Forecast by 2027
Advanced Glass Market
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According to the report published by Allied Market Research, The Advanced Glass Market by Function (Safety & Security, Solar Control, Optics & Lighting, and High Performance), Product Type (Coated Glass, Laminated Glass, Toughened Glass, and Ceramic Glass), and End-User Industry (Building & Construction, Aerospace & Defense, Automotive, Electronics, Sports & Leisure, Optical, and Others): Global Opportunity Analysis and Industry Forecast 2020-2027.
Rapid growth of the construction industry, flourishing automotive industry, and surge in need for better infrastructure due to rapid urbanization drive the growth of the global advanced glass market. However, complications involved in the implant and high cost of advanced glass implants hinder the market growth. On the other hand, strict government legislation regarding the use of energy-efficient products and desire to use renewable resources create new opportunities in the coming years.
Covid-19 scenario:
The lockdown situation has suspended the manufacturing activities across various industries such as automobile, defense equipment, and electronics, which reduced the demand for advanced glass.
The revenue generated from the building and construction segment is anticipated to decline for a few months amid lockdown as construction activities have been stopped to avoid spread of coronavirus among construction workers.
Advance glass manufacturers across China and India have huge opportunities to grow and generate maximum revenue during the COVID-19 pandemic. The pandemic effect in these countries is receding slowly and governments are now lifting the lockdown to start the industrial activities.
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The global advanced glass industry has been segmented on the basis of function, product type, end-use industry, and region. Based on function, the safety & security segment contributed to the largest share in 2019, accounting for around two-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. However, the solar control segment is estimated to portray the highest CAGR of 8.6% during the forecast period.
Based on product type, the coated glass segment accounted for the largest share in 2019, holding nearly one-third of the total share, and is expected to maintain the largest share throughout the forecast period. However, the laminated glass segment is expected to register the highest CAGR of 8.5% from 2020 to 2027.
Based on region, North America contributed the highest share, accounting for nearly one-third of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 9.9% from 2020 to 2027.
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Glass Substrate Market : https://www.alliedmarketresearch.com/glass-substrate-market-A06908
Glass Additive Market : https://www.alliedmarketresearch.com/glass-additive-market-A07313
Laminated Glass Market : https://www.alliedmarketresearch.com/automotive-laminated-glass-market-A09131
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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