As per the MRFR reports, the advanced glass market is estimated to acquire a size of over USD 109.89 billion by the end of forecast period. The report further suggests that the market will thrive at a healthy CAGR of over 9.17% during the assessment era.
Advanced glasses refer to superior glass grades manufactured using cutting-edge innovations and advanced suits having superior properties, such as anti-shattering, anti-graffiti, protection from ultraviolet rays, and manifested glass for others. These properties boost the need for advanced glass in several end-use industries such as electronics, automotive, and construction. The global advanced glass market has witnessed a major spike in growth in the last few years. The market's growth is primarily attributed to the innovations in the electronics industry given to its application in laptops, tablets, and mobile phones, among others. Furthermore, the growth of portable devices such as silicon keyboards, radio, and others are also projected to boost the growth of the advanced glass market worldwide over the assessment era. Moreover, the growing construction and automotive industry application are also likely to catalyze the market's growth over the coming years. On the other hand, the stringent government regulations and cost-effective substitutes available in the market are anticipated to impede the market's growth.
The advanced glass market has been segmented based on product type, application, end-use industry, and region.Based on product type, the advanced glass market has been categorized as laminated glass, tempered glass, ceramic glass, and others.Based on application, the advanced glass market has been classified as solar control, safety & security, optics & lighting, high performance, and others.Based on end-use industry, the advanced glass market has been categorized as construction, infrastructure, automobiles, electronics, and others. The advanced glass market, by region, has been segregated into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
Key Players :
Some of the key players operating in the advanced glass market are Murata Manufacturing Co., Ltd, American Precision Glass Corp., Atheer, Inc., Vuzix, Thermoseal, Packerland Glass Products, Nippon Sheet Glass Co., Ltd, CoorsTek, Inc., Saint-Gobain, SCHOTT AG, AGC Inc., Advanced Glass & Mirror, Inc., Corning Incorporation, GUARDIAN INDUSTRIES, and Sisecam Group.
Asia-Pacific is expected to be the largest regional market in the global advanced glass market during the forecast period. The stringent regulations in Europe and North America have forced the manufacturers to move towards the emerging economies, where they are provided with flexible policies and better manufacturing amenities such as inexpensive labor and availability of raw materials in low cost. The presence of a high number of electronics and construction industries in this region is an important factor propelling the adoption of advanced glass. Developing countries in this region, namely India, Taiwan, China, and Myanmar, are steadily adopting the latest versions of automobiles. Thus, the rise in production of advanced glass due to its high consumption in the region is expected to witness rise in demand for advanced glass market during the forecast period.
Asia-Pacific is trailed by North America, which is the second-largest region in the advanced glass market. The growth of the market in this region is attributed to the demand for advanced glass in this region is driven by the products’ application in building, construction, and infrastructure. Europe is another substantial market after North America in the global advanced glass market. The use of advanced glass in numerous applications from electronics to automobile, majorly drive the demand for the product in this region. The incorporation of vehicle safety films, anti-shattering films, and UV protection films in automobiles is further expected to drive the advanced glass market in the forecast period. Latin America and the Middle East & Africa is expected to witness moderate growth in the advanced glass market during the forecast period mainly due to rise of end-use industries such as electronics and automotive manufacturing plants along with the growing demand of advanced glass from the construction sector.
|Market Size||2030: USD 109.89 Billion|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product Type, Application, End-Use and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Murata Manufacturing Co., Ltd, American Precision Glass Corp., Atheer, Inc., Vuzix, Thermoseal, Packerland Glass Products, Nippon Sheet Glass Co., Ltd, CoorsTek, Inc., Saint-Gobain, SCHOTT AG, AGC Inc., Advanced Glass & Mirror, Inc., Corning Incorporation, GUARDIAN INDUSTRIES, and Sisecam Group|
|Key Market Opportunities||The extensive growth of building and construction industry|
|Key Market Drivers||Increasing use in electronics, construction, and automotive industry is boosting market growth.|
The global advanced glass market is predicted to touch USD 109.89 billion by 2030.
The advanced glass market is predicted to grow at an9.17% CAGR between 2022-2030.
Asia Pacific is predicted to have lions share in the advanced glass market during the forecast period.
Strict government regulations and high manufacturing cost may limit the advanced glass market growth.
Increasing use in electronics, construction, and automotive industry is boosting market growth.