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Green Building Boom Ignites Growth In The Advanced Glass Market: Powering Innovation and Expansion in the Advanced Glass Market by 2025
Advanced Glass
What Is the Expected CAGR for the Advanced Glass Market Through 2025?
In recent times, there has been significant growth in the size of the advanced glass market. It is projected to rise from a worth of $70.46 billion in 2024 to $75.62 billion in 2025, showing a compound annual growth rate (CAGR) of 7.3%. Factors that have influenced growth during the historic period include heightened emphasis on energy efficiency, expansion in the automotive industry, solar energy utilization, government legislations and standards, preference for aesthetic appeal by consumers, and concerns regarding safety and security.
What's the Projected Size of the Global Advanced Glass Market by 2029?
The size of the advanced glass market is set to experience significant augmentation in the coming years, growing to an estimated $100.86 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 7.5%. This projected increase during the forecast period can be traced back to factors such as the surge in popularity of electric vehicles, global initiatives towards energy conservation, concerns over health and safety in public locations, the need for high-end display solutions, and strategies for a circular economy. Future trends within the stipulated timeframe include breakthroughs in coated glass technologies, lightweight glazing for automobiles, sustainable and recyclable glass alternatives, incorporation of augmented reality into glass production processes, and progressive advancements in glass nanotechnology.
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Top Growth Drivers in the Advanced Glass Industry: What's Accelerating the Market?
The growth of the advanced glass market is anticipated to be fueled by the extension of green buildings. The quality of life in the surrounding area can be preserved or improved as a result of the design and construction of these green buildings. Advanced architectural glass plays a significant role in garnering credit points for a construction project across six Leadership in Energy and Environmental Design (LEED) categories. It can help green buildings cut down on energy use for heating, cooling, and artificial lights simultaneously. As per the US Green Building Council (USGBC), in January 2023, a non-profit organization globally based in the US, more than 100,000 projects that are LEED-certified and cover over 11 billion gross square feet have been sanctioned. Moreover, during Q3 2022, over 5,000 more projects in the US received LEED certification, and an additional 8,800 project registrations happened in 2022. Accordingly, the development of green buildings is catalyzing the advanced glass market expansion.
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What Are the Key Trends Driving Advanced Glass Market Growth?
Leading businesses within the advanced glass market are honing their focus on the development of innovative features such as scratch resistance. This quality, which outperforms other lithium aluminosilicate cover glasses by doubling their scratch resistance, is key for a material's ability to resist surface scratches or abrasions that could potentially compromise its look, feel, or function. As an illustration, in June 2024, Corning Inc., an American technology corporation, unveiled the Gorilla Glass 7i. This product was specifically crafted for mid-range and budget smartphones, offering superior dropping protection and double the scratch resistance of similar items. It presents the resilience typically associated with high-end devices, and with its design catering for current-day display requirements such as OLED screens, it is also geared towards sustainability. This advance in technology provides broader access to top-notch protection for consumers.
What Are the Main Segments in the Advanced Glass Market?
The advanced glass market covered in this report is segmented -
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
Subsegments:
1) By Laminated Glass: Safety Glass, Soundproof Glass
2) By Tempered Glass: Heat-Strengthened Glass, Float Glass
3) By Ceramic Glass: Glass-Ceramic Cooktops, High-Temperature Applications
4) By Other Types: Coated Glass, Smart Glass, Reflective Glass
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Which Top Companies are Driving Growth in the Advanced Glass Market?
Major companies operating in the advanced glass market report are 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
Which Regions Will Dominate the Advanced Glass Market Through 2029?
North America was the largest region in the advanced glass market in 2024. The regions covered in the advanced glass market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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