Newark, Jan. 17, 2023 (GLOBE NEWSWIRE) -- The Advanced glass market was estimated at around USD 66.5 billion in 2021, growing at a CAGR of nearly 7.1% during 2022-2030. The market is projected to reach approximately USD 123.58 billion by 2030.
Advanced glass is a higher grade of glass that has been specially created with a number of qualities to work with various applications. It undergoes a chemical and mechanical process as it is created using components like soda ash, natural gas, and silica sand. It has distinctive characteristics and features created to fit a range of applications. For screen protection on laptops and mobile devices, advanced glass is available. Due to its widescreen capability, it provides a clear view of the extreme climatic conditions. Since it has the ability to cut down on noise and manage UV rays, it is widely used in the automotive, electronic, and other industries.
The increased urbanization necessitates the creation of better residential, industrial, and commercial infrastructure. Due to the rising demand for cutting-edge infrastructure and modern design, the global market for advanced glass is growing. Additionally, throughout the forecast period, a rise in the use of cutting-edge glasses in optics, lighting, home appliances, electronic devices, and other cutting-edge technologies will fuel market growth. The market for advanced glass is being driven by rapid urbanization, especially in developing countries where more people are relocating to metropolitan areas. As a result, the need for housing is rising along with the urban population, which is expected to boost the growth of the advanced glass industry. Additionally, the rapid urban development is anticipated to increase demand for the rehabilitation and extension of commercial and industrial infrastructure, which would further encourage market growth. It is anticipated that increased public and private investment in the building industry will accelerate market expansion.
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The significant increase in construction activities has led to a rise in demand for high-quality renovation materials with added value, including advanced glass, across a variety of commercial and residential complexes, which is primarily fueling market expansion. Additionally, this can be linked to continuous expenditures in a number of infrastructure projects and to consumers being more aware of the numerous advantages the product offers. Accordingly, another element driving expansion is the extensive use of sophisticated glass by original equipment manufacturers (OEMs) and automakers to create simple-to-install vehicle windows. By preventing heat leakage, further reducing air conditioning demand, and enhancing fuel efficiency, the glass offers the driver and passenger the maximum level of comfort. Additionally, the introduction of many product kinds, including smart, thin, nano channel, safe crystal, and self-cleaning glass, as well as quick technological breakthroughs in the manufacturing process are fostering market expansion. The widespread use of advanced glass in various consumer electronics, such as laptops, desktops, and smartphones, as well as strategic partnerships amongst key players to improve product performance and efficacy, are other reasons that are fostering a favorable outlook for the market.
In the manufacture of windscreens, side windows, displays, roofs, backlights, and other components for automobiles, advanced glasses such coated glass, laminated glass, toughened glass, ceramic glass, and tempered glass are frequently utilized. Advanced glasses are also frequently used in cars to dampen noise and improve thermal comfort. China is the largest automobile market in the world, and the Chinese government expects that number to rise to 35 million by 2025, according to the International Trade Administration (ITA). Thus, as automation production increases, more advanced glass will be needed to manufacture various automotive components. This will propel the market for advanced glass throughout the projection period.
Segmental Overview
The market for advanced glass market is fragmented into the type and application. The type predicts that the coated glass segment will grow at the fastest rate. This is due to its various advantages, which include reduced radiant heat, improved thermal performance, defense against long-term solar furniture damage, reduced reliance on HVAC systems, decreased condensation, and more. With coated glass, the building's energy efficiency can be significantly increased. Coated glass windows keep heat inside during the winter and out during the summer, making a building more comfortable all year round and lowering energy expenditures. Throughout the projection period, all these diverse coated glass attributes are the main factor projected to grow demand for coated glass in various nations.
Throughout the projected period, safety & security segment is expected to increase at the quickest rate. This can be attributed to the growing use of sophisticated glass for safety and security needs. Advanced glass for home windows is the chosen material for domestic spaces in a time when sustainability and durability are highly desired. Advanced processing methods have increased the strength and durability of glasses. From the exterior façade of the tallest buildings to interior uses in doors, windows, and furniture, advanced glass is the top option for a strong, secure, and practical medium. It provides protection against physical entry in addition to being usable inside without breaking or harming anything. The primary driver for the market is the ability of advanced glass to fulfil the fundamental requirements of safety and security to make buildings seriously protected.
Regional Overview
In the advanced glass market, North America represented the largest market share of the whole market. The development of energy-efficient building projects, high R&D expenditures, increasing consumer awareness, and technology developments are all responsible for this.
It is projected that Asia Pacific would become the region of the global market with the fastest rate of growth. This is due to the region's expanding demand from the electrical and electronics industry for high-tech glasses such coated glass, laminated glass, ceramic glass, toughened glass, and tempered glass. According to China's National Integrated Circuit Development Promotion Outline, the Chinese government is making significant efforts to help the electronics sector, particularly the IC manufacturing and design sector.
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Report Scope
| Base Year | 2021 |
| Forecast period | 2022-2030 |
| Report Coverage | Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Market Size(unit) | USD Billion |
| Advanced glass Market CAGR | 7.1% |
| Segments Covered | By Type By Application |
List of the prominent players in the global Advanced glass market:
• Advanced Glass & Mirror Inc.
• Asahi Glass Co.
• Sisecam Group
• Tyneside Safety Glass
• Corning Inc.
• Fuyao Glass Industry Group Co. Ltd.
• Huihua Glass Co. Limited
• Koch Industries
• Nippon Sheet Glass Co. Ltd.
• Saint Gobain
The global Advanced glass market is segmented as follows:
By Type
• Toughened Glass
• Laminated Glass
• Coated Glass
• Ceramic Glass
• Tempered Glass
• Others
By Application
• Safety & Security
• Solar Control
• UV Control
• Optics & Lighting
• Energy Saving
• High Performance
• Others
By Region/Geography
• North America
o The U.S.
o Canada
o Mexico
• Europe
o France
o The UK
o Spain
o Germany
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Australia
o South Korea
o Rest of Asia Pacific
• The Middle East & Africa
o Saudi Arabia
o UAE
o Egypt
o Kuwait
o South Africa
o Rest of the Middle East & Africa
• Latin America
o Brazil
o Argentina
o Rest of Latin America
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About the report:
The market is analyzed based on value (USD million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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