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Advanced Glass Global Market Report 2024 - Advanced Glass Market Share And Size By 2033
Advanced Glass Market
According to The Business Research Company's, 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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Market Drivers and Trends:
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.
Major companies operating in the advanced glass market are focusing on developing innovative products such as bullet-resistant and forced entry protection glass to better meet the needs of existing consumers. Bullet-resistant and forced entry protection glass is a type of glass that is designed to withstand bullets and forced entry attempts. It is typically made of multiple layers of glass with a plastic interlayer in between. For instance, in October 2021, Thompson Innovative Glass, a US-based provider of premier glass fabrication, launched the Defender line of bullet-resistant and forced entry protection glass. They are uniquely designed glass series that provide various options, eliminate risks, and have been tested to endure intense physical assaults. Through independent testing, the Defender BR-rated items are confirmed to meet and exceed those levels' UL safety code standards. It gives time for people to react and for first responders to get there. When used as an external treatment, it also brings the added benefit of severe weather protection.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
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
Advanced Glass Market 2024 Key Insights:
• The Advanced Glass Market is expected to grow to$94.89 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%.
• Green Building Boom Ignites Growth In The Advanced Glass Market
• Bullet-Resistant And Forced Entry Protection Glass Revolutionizing Security And Safety
• North America was the largest region in the advanced glass market in 2023.
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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