Advanced Glass Market Analysis

Advanced Glass Market Analysis

Tempered glass market demand may exceed USD 40 billion by 2024 owing to its increase in residential and commercial buildings. It has the capability to break into small harmless pieces upon impact, thus reducing the injury risk. Favourable government schemes in construction projects along with widespread application usage in smartphones, laptops and tablets as screen protectors will propel advanced glass market demand.
 

Tempered glass market demand from residential buildings may register growth at over 5.5% by the end of projected timeframe. Increasing government expenditure in residential projects in France, UK and The Netherlands along with broad range of product usage in cookware, refrigerators, dishwashers, furniture and microwaves will stimulate product demand.

Laminated glass market size may surpass USD 45 billion during the forecast period. Shift in consumer preference pertaining to modern architecture with improved aesthetics and infrastructural development has led to growth in construction expenditure in India, Brazil and China, resulting into growth in product demand. The product is used to block up to 99.9% of the UV rays. It offers high strength which prevents on breaking up into large sharp pieces on impact, resulting into increased demand in automotive windshields application.
 

Low emissivity (Low E) coated glass from commercial building applications will witness steady gains close to 6.5% as it enhances the energy efficiency of the buildings and diminishes the size of carbon footprint. These products are used to reflect the heat inside the building. Changing lifestyle patterns, increased demand for better infrastructure and stringent rules regarding carbon emission will propel advanced glass market demand.
 

Hard coated glass from automotive windshield applications may be valued at over USD 1.5 billion at the end of 2024. Over 2.6 million commercial vehicles were manufactured in the U.S. in 2016. Increasing product usage in automotive windshield owing to high tensile strength and abrasion resistance along with strict environment norms by EPA and REACH to reduce carbon emission by minimizing overall weight of the vehicles will stimulate advanced glass market demand.
 

Europe advanced glass market demand, driven by Germany, Poland, France, and UK would register significant growth at over 4%. Increase in government spending for energy efficient buildings, institutions and hospitals along with various norms for energy efficiency and carbon emissions owing to environmental concerns may stimulate regional market growth. Increasing solar control glass applications in buildings could minimize the usage of air-conditioning systems, resulting into cutting down of 300 million tons of unwanted CO2 emissions and save energy which is wasted in both residential and non-residential buildings.
 

China advanced glass market size may surpass USD 19.5 billion by 2024 owing to its increased application scope in automotive and construction sectors. Easy availability of labor along with low production costs will support industry participants to set up manufacturing units in the region. China witnessed an increase of over 14% in production of vehicles from 2015 to 2016. National New-Type Urbanization Plan proposed by the Government of China has led to increase in infrastructure spending, thus favoring industry growth.  

Brazil advanced glass market demand from construction applications will witness significant growth at over 6% during the forecast period. Brazilian government has introduced Growth Acceleration Program (PAC) for the development of infrastructure in the country, thereby stimulating industry growth. Rapid urbanization and demand for affordable housing has led to growth of both residential and non-residential buildings. Rise in service sectors such as IT and growth in automotive base in the region has propelled industrial advanced glass demand.