Advanced Glass Market

Advanced Glass Market Size (2023-2028)

Advanced Glass Market was valued at US$ 68.81 billion in 2022 and is anticipated to grow to US$ 97.25 billion by 2028, with an increasing CAGR of 7.10% from (2023-2028)

Advanced glass is a higher grade of glass. It has particular characteristics and can be utilized in a variety of ways. Advanced glass is made using soda ash, natural gas, and silica sand. The technology and materials that are primarily utilized to create this glass are cutting-edge. Advanced glasses go through a range of mechanical and chemical processes, depending on their use. UV protection, sound reduction, and security are just a few of the advantages and uses of sophisticated glass.

Infrastructure, cars, and electronics are just a few of the industries where it can be used. For example, it can be used to protect the screens of laptops and mobile phones. In addition, advanced glass can be used as a windscreen because it provides great viewing, even in severe weather. This type of glass can also be used to make flat-panel displays.

Advanced Glass Market Drivers:

The building industry's rapid expansion has increased demand for advanced glass, increasing global advanced glass market growth. Furthermore, the thriving automobile industry is predicted to expand the global market. Furthermore, the increased demand for better infrastructure due to rising urbanization propels the advanced glass industry forward. Furthermore, severe government legislation requiring the use of energy-efficient products as well as a willingness to utilize renewable resources are expected to generate attractive prospects for the sector's key participants.

Advanced glass is a premium grade of glass with exact qualities that can be used in a variety of applications. As it undergoes procedures such as chemical and mechanical operations, advanced glass requires extremely advanced techniques. Advanced glass is employed in a variety of industries, including electronics and infrastructure, due to its excellent quality and efficiency. Another primary factor driving the global advanced glass market is urbanization and industrialization. Moreover, the growth of the automotive industry and its manufacturing bases and the rapid rise in infrastructure development investment. These are all driving the global advanced glass market. Growth in demand for household appliances and electronic gadgets is expected to move the industry forward. This glass is long-lasting, thermal shock resistant, and trustworthy. Increased usage of smart glass in the commercial, automotive, and electrical industries is expected to create a lucrative industry.

Advanced Glass Market Restraints:

On the downside, a rise in the cost of advanced glass as a result of the increasing supply-demand gap, as well as the uncertainty of raw material availability, is projected to hinder the global advanced glass market growth during the forecast period. Furthermore, escalating raw material prices are expected to hamper the advanced glass industry in the future years. Aside from that, the rising usage of advanced glass in the commercial, automotive, and electrics industries is set to bring up a slew of new business prospects.

ADVANCED GLASS MARKET REPORT COVERAGE:

Market Segmentation: 

Advanced Glass Market By Function:

• Solar Control

• Optics & Lighting

• Safety & Security

• High Performance

Based on function, the safety and security segment dominates the global advanced glass market during the forecast period. Manufacturing, construction, oil and gas, chemicals, and mining are all industries that employ safety eyewear. Furthermore, security glass is intended to protect passengers from harm or damage due to deliberate or intentional actions. These reasons are projected to fuel demand for enhanced safety and security glass in the coming years.

In addition, the solar control segment in the glass advanced market is predicted to develop at the quickest rate during 2022 - 2027 due to the benefits of utilizing specialist glass to manage heat. The solar control segment earned $ 13,966.0 million in sales in 2018 and is expected to generate $ 25,079.1 million by 2026. This is mostly owing to advancements in the glass-making industry, which improves the reduction of heat created by solar radiation in order to obtain a sufficient amount of natural light. As a result, the growing appeal of luxury real estate will have a favorable impact on the solar control glass industry.

Advanced Glass Market By Product Type:

• Laminated Glass

• Toughened Glass

• Coated Glass

• Ceramic Glass

Based on product type, toughened glass attributes the largest global advanced glass market share. Due to the rise of the automotive and construction industries in developing economies, toughened glass, also known as tempered glass, is likely to lead the global advanced glass market during the forecast period. Furthermore, the increased use of toughened glass in furniture is likely to drive advanced glass market growth throughout the forecast period.

Advanced Glass Market By End User Industry:

• Building & Construction

• Electronics

• Sports & Leisure

• Aerospace & Defense

• Automotive

• Optical

• Others

The commercial construction category accounts for the majority of the global advanced glass market throughout the forecast period. The recovery of the construction sector from subprime and euro-debt crises, as well as significant economic development in the Asia-Pacific area, is the primary reason driving the industry's growth.

On the other hand, the automotive sector tends to have the highest CAGR in the global advanced glass market in the upcoming years. Because of its unique traits and features, the advanced glass segment generates the most revenue. It goes through a series of sophisticated mechanical and chemical operations to improve toughness, strength, and coatings. With rising levels of industrialization, population growth and desire for inexpensive housing drive up demand for sophisticated glass. Furthermore, lifestyle changes and an increase in disposable per capita income drive the automotive industries, boosting product demand.

Advanced Glass Market Regional Analysis: 

• North America
• Europe 
• Asia Pacific 
• Latin America 
• Middle east  and Africa 

Due to the rising demand for advanced glass goods and increased knowledge of the benefits of using advanced glass, Asia-Pacific is expected to be the fastest-growing market. Furthermore, Japan and China are focusing more on developing solar panels for power generation, which will help the advanced glass industry thrive. As a result, the advanced glass market in Asia-Pacific is likely to grow in tandem with its acceptance in main end-user segments such as transportation (automotive and aerospace), construction, and power generation.

Because of favorable government policies, the vehicle manufacturing industries in countries such as the United Kingdom, Germany, and France have expanded significantly. Government initiatives for energy efficiency and green building are also projected to enhance the advanced glass market in Europe.

Recent Developments in the Global Advanced Glass Market:

• Pixelligent, a leading high-quality compound material supplier, and Corning Incorporated, the world's leading manufacturer of optical materials, including high-refractive-index glass for augmented and mixed reality (AR/MR) wearables, have announced a new strategic collaboration to advance AR/MR optics.

• On September 8, 2021, BASF and Fuyao Glass Industry Group Co., Ltd., a prominent global automobile safety glass manufacturer, inked a strategic cooperation agreement to expand their existing partnership to include the co-creation of new business development for the sake of the automotive industry.

Impact of COVID-19 on the Advanced Glass Market:

The ongoing COVID-19 epidemic has had a significant impact on every area of the global economy. The chemicals and materials sectors, on the other hand, were only minimally affected by the epidemic. This is mostly owing to the unabated need for chemicals in the healthcare, life science, and cleaning industries. Other chemical and material sectors, such as paints, industrial oil, and construction materials, are experiencing a decrease in demand. Strict lockdown led in a 50-60% reduction in raw material supply, which had a direct impact on the manufacturing process. Furthermore, the suspension of many end-use sectors had a direct impact on chemical demand all around the world.

Advanced Glass Market Key Players:

The companies covered in the report include:

• Advanced Glass & Mirror Inc.

• Asahi Glass Co.

• Corning Inc.

• Fuyao Glass Industry Group Co. Ltd.

• Huihua Glass Co. Limited

• Koch Industries

• Nippon Sheet Glass Co. Ltd.

• Saint Gobain

• Sisecam Group

• Tyneside Safety Glass