Bulletproof Security Glass Market - MEA to Witness Fastest CAGR over 2015-2021, PMR Forecasts

The Bulletproof or bullet resistant glass is generally used in order to prevent potential damage from small bullets and projectiles. This glass is also known as ballistic glass and transparent armor, as it is transparent in nature and is made from a combination of two or more ballistic materials. Used for high-end security, the sales of bulletproof security glass is currently gaining a sprint in a variety of sectors. The global bulletproof security glass market, which was observed to achieve the revenues of around US$ 2.39 Bn in 2015, is likely to reach up to US$ 3.97 Bn through to 2021. The market will expand at a healthy CAGR of 8.8% during the six-year forecast period 2015-2021.

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Key Market Dynamics

Increasing security and safety concerns among a sizeable global population are the primary factors imparting momentum to the market for bulletproof security glass. Burgeoning crime rate and increasing terror attacks have dramatically fueled the market within the recent past. In addition, the flourishing automotive sector is further driving the market for bulletproof glass, owing to consistent demand from the automotive industry. Nowadays, manufacturing and launch of premium vehicles is on rise, which is foreseen to be a major driver to the growth of the market during the forecast period. In addition, the demand will spike up for value-added automobile accessories and tech-savvy products. Growing security need in various verticals, including banking, finance, education, investigation, construction, aerospace, marine, and government, will also escalate the demand for ballistic glass in the next few years. There has been a dramatic increase in the number of bank ATM booths worldwide, which again put forth higher demand for bulletproof security glass. Moreover, armored cash trucks and display cases in high-end jewelry or accessory shops also consume high quality bullet-resistant glass. This is another factor expected to accelerate the market growth during the forecast period. Governments have been emphasizing greater security and reduced risks, especially in financial institutions and entities. Residential buildings in several vulnerable areas re also recommended to have bulletproof glass. This is anticipated to propel the demand in the forecast period.

Hefty energy costs involved in the manufacturing of bulletproof security glass will however remain a long-term challenge to rapid market growth. In addition, stringent regulatory guidelines and changes in ballistic security glass proposed by several green councils are predicted to hamper the market penetration in the near future. Another factor that is perceived to be a restraint to the market growth, includes increasing costs of most of the ballistic raw materials used in the manufacturing of bulletproof security glass.

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Segment Analysis

On the basis of application, the global bulletproof security glass market is fragmented into various key segments, including bank security glass, ATM booth, armored cash trucks, display case, premium vehicles, residential buildings, and others. Whereas by end-use, the market is segmented into automotive industry, construction industry, financial services industry, and others.

Regional Analysis

On the basis of geographical analysis, the global market for bulletproof security glass includes seven regional markets viz. North America, Western Europe, Eastern Europe, Central Europe, Asia Pacific Excluding Japan, Japan, and Middle East and Africa. Among these seven key markets, North America recorded the largest market share in the global bulletproof security glass market revenues in 2014. This region attained a value of around US$ 638 Mn in 2014, which is projected to climb up to US$ 1,016.6 Mn by the end of 2021, with a market share of over 26%. Over the forecast period 2015-2021, the North American market is expected to witness an impressive CAGR of 8.1%. Europe is foreseen to be the second largest market, attributed to rising adoption of bulletproof glass security systems. The MEA market will register the fastest CAGR during the forecast period. The growth of market in this region is clearly due to increasing development of sophisticated infrastructure and widespread deployment of ballistic glass security systems.

Key Players Analysis

China Glass Holdings Limited, China Glass Specialty AG, Saint-Gobain S.A., Nippon Sheet Glass, Taiwan Glass Ind. Corp., Asahi Glass Co. Ltd., Guardian Industries, PPG Industries Inc., Sisecam, and Apogee Enterprises Corp. are a few of the dominating players governing the global market for bulletproof security glass. There are some other notable companies as well, including Nanjing Xinfurui Glass Industry, Qufu Shenglu Bulletproof Glass Engineering, Jiangsu Yongxiang Glass, and Guangzhou Sky Tiger Tempered Glass. Leading manufacturers are consistently focusing on R&D in collaboration with service providers. Technological innovation and upgrading of existing security systems are currently in the center stage.

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