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Fire-Resistant Glass Market Size to Reach USD 9.75 Billion by 2030, Says The Brainy Insights

Post Time:Nov 22,2022Classify:Industry NewsView:968

The brainy Insights estimates that the USD 5.97 billion in 2022 fire-resistant glass market will reach USD 9.75 billion by 2030. Thousands of fire accidents occur in a year, leading to the death of hundreds of people. Structural house fires are among the common fire incidents that occur daily globally. The amount of property damage is massive. The loss of lives is even more devastating. Most of these fires are caused due to negligence or poor house maintenance. The demand for urban housing with the highest fire safety standards, like fire-resistant glass, smoke alarms and other safety equipment, is increasing in the background of rising house fires. The willingness of consumers to pay more for a safer house augment well for the market. The improvement in government guidelines to enhance fire safety to prevent or at least reduce the damage from accidental fires will also aid in the market's growth.

Key Insight of the Fire-resistant Glass Market

The Asia Pacific is expected to grow the fastest during the forecast period.

The Asia Pacific market is anticipated to develop the fastest during the projected period. The increasing incidences of accidental fires in hospitals, factories and households have prompted governments to review fire safety protocols. The review and following conclusions have highlighted the region's poor state of fire safety infrastructure. Therefore, the government has improved its rules, regulations, guidelines and funding to implement global fire safety protocols that will improve the fire safety infrastructure and prevent any future avoidable fire accidents. The increasing incidence of everyday fires has also prompted individual households to improve their fire safety infrastructure, aiding the market growth.

The ceramic segment will augment the fire-resistant glass market during the forecast period.

The type segment is divided into wired, ceramic, tempered, gel-filled and others. The ceramic segment dominated the market with a revenue share of around 42% in 2022.

The building & construction segment is expected to augment the fire-resistant glass market during the forecast period.

The application is divided into marine, building & construction and others. The building & construction segment dominated the market with a market share of around 48% in 2022. The building and construction industry has expanded due to rising home infrastructure needs and disposable income levels. Consumers are now more prepared to pay for safe and secure dwelling options because of the rising disposable income. The government's attempts to raise the bar for fire safety in infrastructure are also promoting the sector's expansion.

Advancement in market

Looking for a greener, more efficient fire-resistant glass, Researchers from the Fraunhofer Institute for Environmental, Safety and Energy Technology in Germany conducted experiments with various materials. The finished product is not harmful or carcinogenic; it enables windows to hold up to exposure to temperatures of more than 1,000 degrees Celsius for up to two hours. Additionally, just 20 kg of waste is produced daily on a production line that uses glass to create inside fire-blocking doors. In contrast, the daily waste generated during the construction of conventional fire-resistant windows ranges from 150 to 160 kg. In Frankfurt, the glazing is now included in the Global Tower's refurbishment and the Grand Tower's construction.

Market Dynamics

Driver: The increasing number of structural house fires

Increasingly frequent extreme weather events due to climate change result in average daily temperatures surpassing previous records of extreme heat and cold. The rapid increase in temperature is worrisome because it makes the perfect environment for a spark fire to turn dangerous due to the intense heat and dry conditions. In addition, a lack of understanding about how to prevent a fire, control its spread or take action when it breaks out results in loss of life and property. Increased house fires due to negligence, poor maintenance of electricals and a lack of fire safety infrastructure are a cause of concern for the authorities. Fire accidents rise due to insufficient accountability measures and lax application of fire safety regulations. The rise in fire incidences will drive the market.

Restraint: Volatile global market resulting insufficient supply and high cost of raw materials

Lockdowns, a halt to business activity and the movement of people and products because of the pandemic led to an economic slowdown. The supply-side constraints, sluggish market demand, and high cost of production materials were the disruptions brought on by the pandemic-induced bans and lockdowns. The market expansion is anticipated to be impacted by the numerous economic and geopolitical factors contributing to worsening raw material price volatility.

Opportunities: Increasing infrastructural expenditure

Rapid urbanization in emerging countries has raised the demand for homes, malls, hospitals, schools, and other infrastructures. Commercial space, manufacturing facilities, and office space contributions have all expanded due to industrialization. In recent years, there has also been an increase in government capital spending to provide basic facilities to its citizens. Infrastructural development is authorized only when the building and construction industry adheres to fire safety standards set by the government. Therefore, the market will benefit greatly from the updated fire safety regulations and recommendations intended to enhance the current and new infrastructure, which is witnessing exponential development.

Challenge: lack of accountability

The recent events of massive fires, for instance, in China and India, have called into question the poor state of fire safety in these nations. The review and audit reports highlight the several lapses in maintaining the fire infrastructure and the lack of accountability and monitoring from regulatory bodies. Despite having mandates and guidelines on paper about the maintenance of fire alarms, fire extinguishers, conducting fire drills and other fire safety measures, the implementation on the ground is poor. The poor implementation of fire safety guidelines, given the lack of accountability, will challenge the market's growth.

Some of the major players operating in the fire-resistant glass market are:

• AGC Inc.
• Diamond Glass
• Nippon Sheet Glass Co. Ltd.
• POLFLAM sp. z o.o.
• Press Glass SA
• Pyroguard
• Safti First
• Saint-Gobain
• Schott AG
• Shandong Hengbao Fireproof Glass Factory Co. Ltd.

Key Segments cover in the market:

By Type

• Wired
• Ceramic
• Tempered
• Gel-Filled
• Others

By Application

• Marine
• Building & Construction
• Others

By Region

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Source: https://www.globenewswire.com/Author: shangyi

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