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Advanced Market Report 2024 | Size, Share, Trends And Forecast To 2033
Advanced Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The advanced glass market size has grown strongly in recent years. It will grow from $64.84 billion in 2023 to $70.46 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to increased focus on energy efficiency, automotive industry growth, solar energy applications, government regulations and standards, consumer preferences for aesthetics, safety and security concerns..
The advanced glass market size is expected to see strong growth in the next few years. It will grow to $94.89 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to rising popularity of electric vehicles, global efforts for energy conservation, health and safety concerns in public spaces, demand for high-performance displays, circular economy initiatives.. Major trends in the forecast period include innovations in coated glass technologies, lightweight automotive glazing, sustainable and recyclable glass solutions, integration of augmented reality in glass manufacturing, advancements in glass nanotechnology..
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Key Market Players:
Saint-Gobain S.A., PPG Industries Inc, Kyocera Corporation, AGC Inc., Corning Inc., Hoya Corporation, Guardian Industries LLC, Fuyao Glass Industry Group Co. Ltd., Xinyi Glass Holdings Limited, Schott AG, Vitro S.A.B. de C.V., Gentex Corporation, Central Glass Co., Ferro Corporation, China Glass Holdings Limited, Cardinal Glass Industries, Sisecam Group, Ohara Corporation, Technical Glass Products Inc., Euroglas GmbH, Abrisa Technologies Inc., Sumita Optical Glass Inc., Tyneside Safety Glass Company Limited, Vuzix Corporation, Accuratus Corporation, Advanced Glass & Mirror Corp, American Precision Glass Corp., Pegasus Glassworks Inc, Nippon Sheet Glass Co., Glaston Corporation are prominent players in the industry.
Market Drivers:
The expansion of green buildings is expected to propel the growth of the advanced glass market going forward. Green buildings can sustain or enhance the quality of life in the surrounding area due to design and construction. Advanced architectural glass can help a building project achieve credit points in six Leadership in Energy and Environmental Design (LEED) categories. It can assist green buildings in reducing the energy consumption for heating, cooling, and artificial lighting all at once. For instance, in January 2023, according to the US Green Building Council (USGBC), a US-based non-profit organization globally, 100,000 Leadership in Energy and Environmental Design (LEED)-certified projects covering more than 11 billion gross square feet- have been approved. Further, over 5,000 additional projects in the US were LEED certified in Q3 2022, and 8,800 additional project registrations were made in 2022. Therefore, the expansion of green buildings is driving the advanced glass market.
Market Segments Include:
1) By Type: Laminated Glass, Tempered Glass, Ceramic Glass, Other Types
2) By Application: Solar Control, Safety And Security, Optics And Lighting, High Performance, Other Applications
3) By End-Use: Construction, Infrastructure, Automobiles, Electronics, Other End-Uses
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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