Press release
Trends in Growth, Market Segmentation, and Competitive Approaches Influencing the Advanced Glass Industry
Advanced Glass Market
Anticipated Growth and Market Size of the Advanced Glass Industry
The advanced glass market is expected to experience robust expansion in the coming years. Projections estimate the market will reach $109.91 billion by 2030, growing at a compound annual growth rate (CAGR) of 8.0%. This upward trend is driven by the rising adoption of smart glass technologies, heightened demand for energy-efficient consumer electronics, growth in electric vehicle automotive displays, enhanced use of advanced coatings, and the increasing need for sustainable building materials. Key market trends include more widespread use of energy-efficient glass in electronic devices, growing demand for durable glass in consumer gadgets, broader adoption of advanced glass in solar control applications, expansion of specialty glass usage in automotive sensors and displays, as well as the development of high-performance coatings designed to improve glass strength and longevity.
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Key Companies Making an Impact in the Advanced Glass Market
The advanced glass market features a mix of well-established global players and emerging firms driving innovation and expansion. Leading companies include Saint-Gobain S.A., PPG Industries Inc., 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, Nippon Sheet Glass Co., Ohara Corporation, Central Glass Co., Ferro Corporation, China Glass Holdings Limited, Cardinal Glass Industries, Sisecam Group, Euroglas GmbH, Abrisa Technologies Inc., Sumita Optical Glass Inc., and Technical Glass Products Inc.
Strategic Moves by Industry Leaders to Strengthen Market Presence
In a notable development, March 2024 saw Trulite Glass & Aluminum Solutions LLC, a US-based company specializing in architectural glass and aluminum solutions, acquire American Insulated Glass (AIG) for an undisclosed sum. This acquisition aims to expand Trulite's footprint into the Midwest and East Coast regions, boost production capacity, and diversify its product portfolio, particularly for residential markets. American Insulated Glass is known for supplying insulated and fabricated glass products across commercial and residential glazing sectors, making this purchase a strategic fit for Trulite's growth ambitions.
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Innovations Shaping the Advanced Glass Sector
Leading companies in the advanced glass industry are focusing heavily on developing enhanced material properties such as improved scratch resistance. Scratch resistance measures how well a glass surface withstands abrasions that could impact its appearance or functionality. For example, in June 2024, Corning Inc. introduced Gorilla Glass 7i, a new glass technology tailored for mid-range and budget smartphones. This innovation delivers double the scratch resistance compared to other lithium aluminosilicate cover glasses and offers superior drop protection. Designed with sustainability in mind, Gorilla Glass 7i supports the demands of modern display technologies like OLED screens, bringing high-quality protection to a broader consumer base.
Breakdown of Market Segments Covered in the Advanced Glass Report
The report categorizes the advanced glass market into distinct segments to provide a detailed understanding of its scope:
1) By Type: Laminated Glass, Tempered Glass, Ceramic Glass, and Other Types
2) By Application: Solar Control, Safety and Security, Optics and Lighting, High Performance, and Other Applications
3) By End-Use: Construction, Infrastructure, Automobiles, Electronics, and Other End-Uses
Further subcategories are specified for each type:
- Laminated Glass includes Safety Glass and Soundproof Glass
- Tempered Glass consists of Heat-Strengthened Glass and Float Glass
- Ceramic Glass covers Glass-Ceramic Cooktops and High-Temperature Applications
- Other Types include Coated Glass, Smart Glass, and Reflective Glass
This segmentation highlights the diverse applications and specialized products that characterize the advanced glass industry today.
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