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Advanced Glass Market worth USD 109.89 billion by 2028, registering a CAGR of 9.17%

Post Time:Sep 26,2021Classify:Industry NewsView:936

New York, Sept. 23, 2021 (GLOBE NEWSWIRE) -- Advanced Glass Market Overview: According to a comprehensive research report by Market Research Future (MRFR), Advanced Glass Market Research Report, Product Type, Application, End-Use and Region - Forecast till 2028” the market is projected to be worth USD 109.89 billion by 2028, registering a CAGR of 9.17% during the forecast period (2021 - 2028)., The market was valued at USD 63.45 billion in 2021.

Market Competitive Landscape:
List of the key competitors of the global advanced glass market are profiled are as follows:

  • American Precision Glass Corp.

  • Vuzix

  • Thermoseal, Packerland Glass Products

  • Saint-Gobain

  • Nippon Sheet Glass Co., Ltd,

  • SCHOTT AG

  • CoorsTek, Inc.

  • AGC Inc.

  • Corning Incorporation

  • Sisecam Group

  • GUARDIAN INDUSTRIES

  • Murata Manufacturing Co., Ltd

  • Atheer, Inc.

  • Among others.

Market USP Covered:

Drivers:
Over the forecast period, demand for advanced glass products is likely to be driven by the desire to provide affordable homes for an ever-increasing population. Another important element supporting the growth of this category is the expanded number of initiatives to build smart cities. For example, the Indian government intends to construct approximately 100 smart cities in the coming years.

Restraints:

The market is expected to be hindered by an increase in the cost of advanced glass as a result of the widening supply-demand gap and the inconsistent availability of raw materials. The increase in raw material prices is expected to limit the advanced glass market growth in the coming years.

COVID-19 Analysis:
The outbreak of the global covid-19 pandemic has created a gap in the supply chain across the globe. Manufacturing of different consumer items and other commodities has come to a halt worldwide due to a lack of raw materials, a workforce shortage, and other factors. This is predicted to have a negative impact on the advanced glass market growth.

Market Segmentation:
The segmentation of the global advanced glass market is done by product type, end-use industry, and application. By product type, the market is dominated by the coated glass segment. The growing popularity of Low-E coated glass products, particularly in commercial buildings, is expected to drive its expansion in the near future.
By end-use, the residential construction segment is accountable for a higher advanced glass market share.
By application, the safety & security segment accounted for the largest proportion of the advanced glass market by function. On the other hand, the solar control segment is predicted to develop the fastest during the projection period because of the benefits of utilizing specialized glass to manage heat.

Regional Insights:
During the forecast period, Asia-Pacific is expected to have the largest global advanced glass market share. This region's developing countries, especially China, India, Taiwan, and Myanmar, progressively embrace the most recent automotive models. As a result of the increased production of advanced glass due to its high consumption in the region, the advanced glass market size is predicted to rise throughout the forecast period.
North America is the second-largest region in the advanced glass market, trailing Asia-Pacific. The demand for advanced glass in this area is driving the market's expansion, which is attributed to the products' application in building, construction, and infrastructure.
Following North America, Europe is a significant market in the international advanced glass market. The use of advanced glass in a variety of applications ranging from electronics to automobiles drives the product's demand in this region. Vehicle safety, anti-shattering, and UV protection films are also projected to drive the advanced glass market over the forecast period.

The advanced glass market share of Latin America, the Middle East, and Africa is expected to grow moderately during the forecast period, owing to the rise of end-use industries such as electronics and automotive production facilities and the growing demand for advanced glass from the construction industry.

Segmentation of Market covered in the research:

Advanced Glass Market Research Report: By Product Type (Laminated Glass, Tempered Glass, Ceramic Glass, and Others), by Application (Solar Control, Safety & Security, Optics & Lighting, High Performance, and Others), by End-Use Industry (Construction, Infrastructure, Automobiles, Electronics, and Others), and by Region (North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa) — Forecast till 2028

Market Scope:
Advanced glass is a type of glass that is highly specialized. Advanced glasses offer distinct features and properties that are tailored to certain uses. Owing to this characteristic, they are useful across many end-user sectors, including building and construction, aerospace and military, automotive, electronics, sports and leisure, and optical. The versatile applications are primarily accountable for the advanced glass market growth.

Source: https://ca.finance.yahoo.com/Author: shangyi

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