NEWARK, Del, Sept. 21, 2022 (GLOBE NEWSWIRE) -- The global glass tempering system market is projected to reach a value of US$ 166.5 Mn in 2032, with the market expanding at a stagnant CAGR of 3.9% during the forecast period of 2022 to 2032. Valued at US$ 109.5 Mn in 2021, the glass tempering system market will likely reach an estimated US$ 113.6 Mn in 2022. The growing adoption of glass tempering systems in various industries like architecture, automotive, electronics, and others drives the market over the forecast period.
Glass tempering systems are devices that are used to produce high-strength tempered glass through controlled thermal or chemical treatments. These systems are quickly gaining momentum in the glass industry over the past few years because of their ability to create safe, reliable, high-strength, and thermal-resistant tempered glasses.
The increasing awareness of the advantages of using a glass tempering system, particularly in the electronics and automotive sectors, is fueling the market expansion. Better transportation options, increasing demand for durable building materials, as well as a rising architectural trend of using glass in buildings and structures are certain supplementing factors that bode well for the market growth. Moreover, advancements in glass processing technology coupled with the escalating application of tempered glasses in many end-use industries like automotive, solar panels, private and commercial buildings, digital glass, decoration, and others further propel the market growth for glass tempering systems during the projected period.
Though the glass tempering systems market has bright future possibilities, it is not without its challenges. The expensive initial investment, high operating costs, and unavailability of transportation may stunt the growth of the glass tempering system market over the assessment period.
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“Heightened demand and usage of tempered glass in the architectural sector will likely drive the market growth of the same over the forecast period,” says an FMI analyst.
Key Takeaways:
- Poor transportation options may impede market possibilities.
- Constant innovation and integration of advanced technology will boost market possibilities.
- The target market in the U.S. is predicted to account for 30% of the market share in 2022.
- Driven by the construction industry, the glass tempering systems market in China is expected to register a 4.2% CAGR.
- Flat glass application segment holds about 80% of the market share.
- By end use, the architectural segment will dominate the market.
Competitive Landscape
Glaston Corporation, LiSEC Austria GmbH, Luoyang Landglass Technology Co. Ltd., Luoyang North Glass Technology Co., Ltd., Keraglass Industries Srl ., SAS VILUX, CoolTemper Ltd, Lambert GT Services Ltd, IGE Glass Technologies, Inc, Saint-Gobain S.A., EFCO, and Ratnesh International among others are some of the major players in the glass tempering system market profiled in the full version of the report.
Leading market players are keen on expanding their consumer base by showcasing their products in international exhibitions. Product upgradation and enhancements, mergers, and acquisitions are certain other strategies that some businesses apply to gain a competitive advantage.
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More Insights into Glass Tempering System Market Report
In its latest report, FMI offers an unbiased analysis of the global glass tempering system market, providing historical data from 2015 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented based on tempering technology (C.H.Q.E (standard configuration, advanced configuration), chemical treatment), application (flat (continuous, oscillating), bent, combined flat and bent), end use (automotive window, architectural (windows and facade, mirror and partitions, furniture), electronics (smartphone, appliances), solar applications, others), and region.
According to the latest FMI reports, based on region, the glass tempering systems market in the United States is expected to flourish over the projected period. The market in this country is expected to account for 30% market share in 2022. This growth can be attributed to the ever-expanding automotive and construction sector. The elevated demand for high-resistance tempered glass and the immense presence of major market players also support regional market growth. China and Germany are the two other countries that are expected to exhibit impressive growth in this market over the assessment period.
Based on segmentation, by application, the flat glass segment is predicted to dominate the market with around 80% of the market share. In terms of end use, the architectural segment is expected to lead the market growth, holding about 75% of the market share during the forecast period.
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
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