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Laboratory Informatics, Market Growth, Global Trends, Opportunities 2024
Global Laboratory Informatics, Industry Report, Growth, Trends 2024
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According to The Business Research Company's, The laminated glass market size has grown strongly in recent years. It will grow from $22.1 billion in 2023 to $23.74 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to growing demand for value-added glass products, increased demand for lightweight glass to reduce the overall weight of vehicles, growing construction industry, stringent automotive and building safety regulations,
rising adoption of strategies by key players.
The laminated glass market size is expected to see strong growth in the next few years. It will grow to $31.61 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to growing research and development activities, manufacturers developing automotive glass comfort, safety, and visibility, smart glass integration, rising demand in emerging markets, urbanization and infrastructure development. Major trends in the forecast period include digital printing on glass, energy-efficient glazing, biophilic design, technological advancements, lightweight materials.
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Market Drivers and Trends:
The high demand for laminated glass from the construction sector will contribute to the growth of the laminated glass market. In the construction sector, the growing trend of replacing cement, brick, and granite building exteriors with glass is resulting in a spurt in demand for laminated glass. Laminated glass is gradually finding use in edifices and residential homes owing to its attributes of strength, sound reduction, and impact resistance. For instance, the global construction market is expected to reach $15.2 trillion by 2030, according to Future of Construction, a forecast produced by Oxford Economics and Marsh McLennan companies Marsh and Guy Carpenter. Hence, the significant growth in the construction sector coupled with the high demand for laminated glass will propel the growth of the laminated glass market during the forecast period.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
Saint-Gobain S. A., Fuyao Glass Industry Group Co. Ltd., Asahi India Glass Ltd., Guardian Industries Corp., Taiwan Glass China Holding Ltd., Xinyi Glass Holdings Limited, Nippon Sheet Glass Co. Ltd., Turkiye Sise ve Cam Fabrikalari AS, China Southern Glass Holding Limited, Cardinal Glass Industries Inc., Central Glass Co. Ltd., Schott AG, Flair International Ltd., Euroverre Inc., Gentex Corporation, Press Glass Sa, Asahi Glass Co. Ltd., Pilkington Group Limited, Vitro, S. A. B. de C. V., China Luoyang Float Glass Group Co. Ltd., Euroglas GmbH, Sangalli Servomotori S. r. l., Shanghai Yaohua Pilkington Glass Group Co. Ltd., Tyneside Safety Glass Co. Ltd., AJJ Glass Products Co. Ltd., Emerge Glass India Pvt. Ltd., Fuso Glass India Pvt. Ltd., GSC Glass Ltd., Hindusthan National Glass & Ind. Ltd, PPG Industries Inc.
Laminated Glass Market 2024 Key Insights:
• The laminated glass market size is expected to see strong growth in the next few years. It will grow to $31.61 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%.
• Construction Sector's Rising Demand For Laminated Glass Fuels Market Growth
• Laminated Glass Market Embraces Technological Advancements For Aerospace And Automotive Innovations
• Asia-Pacific was the largest region in the laminated glass market in 2023
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