SAN FRANCISCO, U.S., Feb. 16, 2023 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Fire-Resistant Glass Market Size, Share, Growth Analysis Report By Application (Building & Construction, Marine, and Others), By Type (Ceramic, Wired, Gel-Filled, Tempered, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030” in its research database.
“According to the latest research study, the demand of global fire-resistant glass market size & share was valued at approximately USD 6 billion in 2021. The market is expected to grow above a CAGR of 4.31% and is anticipated to reach over USD 10 billion by 2030.”
Fire-Resistant Glass Market Overview:
Fire-resistant glass is from the advanced glass category which is manufactured for an added specific purpose apart from the traditional use of conventional glass. Fire-resistant glass can resist high temperatures associated with a fire breakout incident. It can prevent the spread of fire and the smoke emerging from it for a longer duration than normal glass, giving the residents enough time to evacuate the area or call for assistance.
The applications of such advanced glasses are higher since they can also be used to prevent radiation rays from spreading from one section to another making it an excellent choice of barriers in research & clinical facilities that work with dangerous chemicals or substances. The main deliverable of fire-resistant glass is achieved by layering a coat of resistant coating on both sides of the glass. They aid in noise cancellation as well.
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Some fire-resistant glass can limit extremely high volumes as well which makes them desirable in server rooms offering two-way protection from noise pollution and fire hazards. The glass is made of high-pressure loads making them almost unbreakable and resistant to impact. In most cases, fire-resistant glass is protected with multiple layers of glass and can resist fire for up to 1 hour which provides enough time for the agency handling the distress call to react accordingly.
Key Insights from Primary Research
- As per the analysis, the fire-resistant glass market share is likely to grow above a CAGR of around 4.31% between 2022 and 2030.
- The Fire-Resistant Glass market size was worth around US$ 6 billion in 2021 and is estimated to hit approximately US$ 10 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The market is projected to grow at a significant rate due to growing cases of fire-breakout
- Based on type segmentation, ceramic was predicted to show maximum market share in the year 2021
- Based on application segmentation, building & construction was the leading application in 2021
- On the basis of region, North America was the leading revenue generator in 2021.
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Market Dynamics:
Growth Drivers
- Rising infrastructure development projects across the globe
The global fire-resistant glass market is projected to grow due to the growing infrastructure development projects across the globe. Research facilities, high-rise buildings, and commercial centers are a crucial part of regional architecture development. As the investment in these sectors grows, market players will have more opportunities to cater to the needs of competitive end-users like building contractors, glass manufacturers, and others. Such projects can only be occupied only after they have received the necessary approval from fire hazard and safety-related agencies. The higher the protection offered, the greater the sales value.
Fire-resistant glass can also be used in elevators that are highly prone to fire breakouts. The global market is projected to benefit from the strict government regulations in place in terms of fire safety, especially in commercial units. Failure to adhere to the norms can lead to license cancellation or the complete shut of the business center.
Restraints
- High cost of the end goods and changing raw material prices
One of the major growth-restricting factors is the high cost of the end goods and the fluctuating raw material prices. In developing or underdeveloped nations, the cost of purchasing and maintaining fire-resistant glass is extremely high making them unaffordable for a large section of society. Unless the prices are capped and more options are available the market will have only limited consumers to cater to.
Opportunities & Challenges
The increasing awareness may provide growth opportunities while the changing prices of raw materials may act as a major challenge.
Fire-Resistant Glass Market: Segmentation Analysis
The global fire-resistant glass market is segmented based on application, type, and region
Based on application, the global market divisions are building & construction, marine, and others. Currently, the highest adoption rate for fire-resistant glass is in the building & construction industry. Residential and commercial units are highly prone to fire breakouts since these structures are constantly occupied by humans, there are a lot of reasons why fire incidents can occur.
Events like careless smoking, non-monitored use of cooking equipment, faulty electrical wiring, electrical equipment, children playing with fire, and heating equipment were stated to be some of the most common reasons for fire hazards as per the Zurich Municipal. In countries where gas is supplied in contained cylinders, multiple fire cases have been reported due to incidents involving cylinder blasts in homes. As per estimates, more than 4000 fire breakouts occur in Tokyo every year. Such incidents could lead to players in the segment investing in fire-resistance glass for higher protection.
Based on type, the global market divisions are ceramic, wired, gel-filled, tempered, and others. In 2021, the ceramic segment dominated with more than 41% of the global market share. Ceramic glass is known to be extremely resistant to changes in thermal temperatures making it an ideal choice for fire-resistant glass. Multiple layered tempered glass segments could also grow at a high CAGR due to the high output efficiency.
Browse the full “Fire-Resistant Glass Market Size, Share, Growth Analysis Report - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030” Report at https://www.fnfresearch.com/fire-resistant-glass-market
Regional Analysis:
- North America to register high CAGR during the projection period
North America is projected to lead the global fire-resistant glass market due to higher product adoption driven by the stringent regulations in place for fire safety in residential and commercial units. Europe may register a high CAGR due to the presence of one of the largest providers of fire-resistance glass which is Saint-Gobain which generated more than 41% higher revenue in 2021 as compared to 2020.
Growth in Asia-Pacific may be driven by the growing infrastructure development projects as well as the rising number of domestic players. Increasing disposable income of the population could also help the regional market to witness a higher growth rate.
Competitive Players:
The report contains qualitative and quantitative research on the global fire-resistant glass market, as well as detailed insights and development strategies employed by the leading competitors.
Some of the main players in the global fire-resistant glass market include;
- Saint-Gobain
- Diamond Glass
- Shandong Hengbao Fireproof Glass Factory Co. Ltd.
- Press Glass SA
- Pyroguard
- Nippon Sheet Glass Co. Ltd.
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Recent Industry Developments:
- In May 2022, Saint-Gobain announced the acquisition of Fibroplac and Falper, Portuguese companies, in line with the company’s growth strategy
- In August 2021, Pyroguard shifted its UK production facility to a new site which is 3 times bigger than the previous site
The global fire-resistant glass market is segmented as follows:
By Application
- Building & Construction
- Marine
- Others
By Type
- Ceramic
- Wired
- Gel-Filled
- Tempered
- Others
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
For Additional Information on the Global Fire-Resistant Glass Market Players and Detail List, Download a Report PDF Brochure
Report Scope:
| Report Attribute | Details |
| Market Size in 2021 | USD 6 Billion |
| Projected Market Size in 2030 | USD 10 Billion |
| CAGR Growth Rate | 4.31% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2030 |
| Key Market Players | Saint-Gobain, Diamond Glass, Shandong Hengbao Fireproof Glass Factory Co. Ltd., Press Glass SA, Pyroguard, Nippon Sheet Glass Co. Ltd., and others. |
| Key Segment | By Application, Type, and Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. |
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