Press release
Emerging Trends to Drive Laminated Glass Market Growth at 7.7% CAGR Through 2029
Laminated Glass Market
Laminated Glass Market Size Growth Forecast: What to Expect by 2025?
In recent times, the laminated glass market has experienced significant growth. The market size is projected to increase from $23.41 billion in 2024 to $24.74 billion in 2025, with a compound annual growth rate (CAGR) of 5.7%. The surge in growth during the historical period is linked to the rising demand for high-value glass products, an increase in lightweight glass demand to lessen the overall weight of vehicles, the expansion of the construction industry, stringent safety regulations for automobiles and buildings, and the increased adoption of strategic measures by major industry players.
How Will the Laminated Glass Market Size Evolve and Grow by 2029?
The market size for laminated glass is anticipated to witness significant expansion in the forthcoming years, with projections estimating it to reach $33.23 billion by 2029, growing at a compound annual growth rate (CAGR) of 7.7%. Factors contributing to this projected growth during the forecast period include increases in research and development activities, automotive glass innovation by manufacturers for improved comfort, safety, and visibility, the integration of smart glass technology, heightened demand in developing markets, and developments in urbanization and infrastructure. Noteworthy trends during this period are expected to encompass digital printing on glass, energy-efficient glazing, the incorporation of biophilic design, technological advancements, and the utilization of lightweight materials.
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What Drivers Are Propelling the Growth of Laminated Glass Market Forward?
The laminated glass market stands to benefit from the burgeoning demand emanating from the construction industry. There's a rising trend within this sector to substitute traditional building exterior materials such as cement, brick, and granite with glass, with laminated glass being a favoured choice. This glass variant is increasingly being used in commercial buildings and residential properties due to its durability, sound-dampening qualities, and resistance to impact. To illustrate, projections by Oxford Economics, a UK-based firm specializing in economic data services, suggest that the worth of construction work will jump from $9.7 trillion in 2022 to a staggering $13.9 trillion by 2037. This surge is driven by key construction markets in China, the U.S., and India. Thus, the confluence of the robust expansion in the construction sector and the soaring demand for laminated glass will drive the growth trajectory of the laminated glass market during the projection period.
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Which Fast-Growing Trends Are Poised to Disrupt the Laminated Glass Market?
A prevailing trend in the laminated glass market is the impact of technological innovation. Companies in this sector are exploring or acquiring cutting-edge technology to enhance the features of laminated glass, specifically for applications in the automotive and aerospace industries. An illustration of this is when OLMAR S.A., a Spanish company specializing in the production of autoclaves, ovens, and steam generators, introduced autoclave laminated glass in May 2023. This product is fundamental to the automotive and construction industries, offering superior safety and durability features, which includes better sound insulation, UV protection, and thermal regulation while remaining unbroken on impact, reducing potential injuries. Its value is seen in its wide range of applications in both the automotive and construction sectors, offering not only aesthetic charm but also energy efficiency and alignment with safety standards, thereby fostering safer and more pleasant surroundings.
What Are the Key Segments in the Laminated Glass Market?
The laminated glass market covered in this report is segmented -
1) By Type: Polyvinyl Butyral (PVB), Sentryglas Plus (SGP), Ethylene-Vinyl Acetate (EVA), Other Types
2) By Interlayer: Polyvinyl Butyral, Ionoplast Polymer, Other Interlayer Types
3) By Applications: Building and Construction, Automotive, Electronics, Solar Panels, Other Applications
Subsegments:
1) By Polyvinyl Butyral (PVB): Standard PVB, High-Performance PVB
2) By Sentryglas Plus (SGP): Standard SGP, Customized SGP Solutions
3) By Ethylene-Vinyl Acetate (EVA): Standard EVA, High-Temperature EVA
4) By Other Types: Thermoplastic Polyurethane (TPU), Acrylic Laminates, Other Specialty Laminates
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Who Are the Key Players Shaping the Laminated Glass Market's Competitive Landscape?
Major companies operating in the laminated glass market include 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.
What Geographic Markets Are Powering Growth in the Laminated Glass Market?
Asia-Pacific was the largest region in the laminated glass market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the laminated glass market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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