The laminated glass market is expected to be worth about US$ 28 billion by 2028, rising at a CAGR of 5.9% between (2023-2028)
A simple float glass, tempered glass, or a heat pane may be used to seal the glass panes together. Not only is laminated glass impact-resistant, but it is also sound resistant. In fact, music recording studios use laminated glass as a sound barrier in their sound booths, effectively insulating the space. It has other outstanding qualities apart from impact and sound resistance, such as the ability to block ultraviolet rays, making it suitable for construction activities. Laminated glasses are used as windscreens and sunroofs in automobiles and aircraft and construction as window panes and skylights.
Laminated glass is a type of safety glass that has an interlayer of plastic between two or more panes of glass, such as polyvinyl butyral (PVB), and ethylene-vinyl acetate (EVA), or Sentry Glass Plus (SGP). The plastic interlayer serves as a magnet, holding the glass together even when it is cracked, and its high strength prevents the glass from breaking into pieces, preventing injuries.
Automobile manufacturers have been using laminated glasses for windshields, sound absorption, and infrared and UV radiation reflectivity for a long time. Recently, the construction industry has begun to use laminated glass instead of bricks and cement for glass facades, windows, doors, and other exterior applications, including in areas where hurricanes and tornadoes are common.
Laminated Glass Market Drivers:
Increased demand for advanced glass products for specialized applications, strong consumer demand from emerging regions, and increased demand for laminated glass from end-use industries such as healthcare, telecom, electronics, and aerospace, among others, are pushing the global laminated glass market higher. One of the key drivers of laminated glass demand and global laminated glass market dispersion is the construction industry's demand for flat and laminated glasses growing exponentially. Moreover, the global trend of replacing cement, brick, and granite building exteriors with laminated glass, coupled with continued growth in automotive sales in various regions, is driving demand for laminated glass and facilitating laminated glass market growth. The demand for larger windshields and the popularity of sunroofs in many vehicles are cited as reasons for the increased demand for laminated glasses in the automotive industry.
The demand for laminated glass is high, but due to the availability of low-cost alternatives, its use is reduced. Laminated glass's high cost is due to its capital-intensive and time-consuming production process, which involves several layers of materials, unlike other types of glass. As a result, the global laminated glass industry is hampered by the availability of alternatives such as tempered glass. Despite being a durable and reliable source of safety and protection, laminated glass faces some costs, such as manufacturing and energy costs, as a result of the multiple layers of materials involved in the manufacturing process, which is likely to restrict the global laminated glass market's growth.
During the forecast period, investments in infrastructure projects in the Middle East and Africa, and Asia-Pacific are likely to present growth opportunities for the laminated glass industry. Increasing demand for light commercial vehicles, buses, heavy trucks, and other vehicles and tighter safety regulations for automobiles would fuel a variety of opportunities that will drive the laminated glass market forward during the forecast period.
REPORT METRIC |
DETAILS |
Market Size Available |
2022-2028 |
Base Year |
2022 |
Forecast Period |
2023-2028 |
CAGR |
5.9% |
Segments Covered |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
|
Market Leaders Profiled |
Asahi India Glass LimitedCentral Glass Co., Ltd., CSG Holdings Co., Ltd., Fuyao Group., GUARDIAN GLASS LLC., Nippon Sheet Glass Co. Ltd., Saint-Gobain India Pvt. Ltd., Sisecam Group, Taiwan Glass Ind. Corp., Xinyi Glass Holdings Co., Ltd |
The laminated glass market is divided basis on interlayer type, end-user, verticals, and application.
Polyvinyl Butyral
Ionoplast Polymer
Ethyl vinyl acetate
Thermoplastic polyrethaane
Liquid resin
Based on interlayer type, because of its adhesive properties, good binding strength, and excellent transparency, the polyvinyl butyral interlayer segment dominated the market in terms of volume. Around 2017 and 2022, the ionoplast polymer interlayer is expected to expand the most. The building and construction industry has increased its demand for ionoplast polymer because it offers greater strength, protection, durability, toughness, and stiffness than other interlayers. These characteristics are important for storm protection, large impacts, and powerful blasts.
Building & Construction
Automotive
Healthcare
Electronics
Aerospace
On the basis of vertical, between 2017 and 2022, the building and construction industry is expected to expand faster than the automotive industry. The growing construction industry worldwide, especially in emerging regions, can be attributed to the building and construction industry's growth. Furthermore, rising government investments in infrastructure development projects such as airports and public transportation systems around the world are driving demand for laminated glass.
Residential
Non-residential
Construction
Automotive
Based on the application, the growth of infrastructure is a positive indication for the laminated glass market. Over the forecast period, growth in the automotive glass market is expected to drive demand for laminated glass. Technological advancements such as Gentex Corporation's dimmable and display glass technology are expected to encourage market players to increase their automotive glass market investments.
North America
Europe
Asia Pacific
South America
Middle East & Africa
Based on region, due to an increase in construction activities, the relocation of manufacturing plants from other locations to Asian countries, and increased investments in the automotive industry, Asia Pacific is projected to be the leading regional segment in the market. Over the forecast period, increasing investments in infrastructure development in emerging countries like India and China are expected to fuel demand growth in the Asia Pacific. China and Japan are making investments in chemical industries, with projects worth USD 255 billion and USD 367 billion, respectively. In addition, the investments by a number of automobiles are expected to boost demand for laminated glass in the Asia Pacific. For example, India received USD 16.5 billion in FDI for the automotive sector between April 2000 and December 2016, and the country is expected to receive another USD 8-10 billion by 2023.
Increased spending in other areas, such as Europe, is expected to boost demand for laminated glass. The European Commission proposed a €421 million investment in safer and greener transportation networks in March 2019. Manufacturers are expanding their production capacities in response to the increased demand for laminated glass in the region. Guardian Glass opened its new laminated glass production line in Hungary in May 2019 to better serve its European customers. The line will produce 150 truckloads of laminated glass each month, with the majority of its customers coming from the Balkans, Romania, and Hungary.
The disease has spread to almost every nation in the world since the COVID-19 virus outbreak in December 2019, prompting the World Health Organization to declare it a public health emergency. The global consequences of the coronavirus disease 2019 (COVID-19) are already being felt, and the Laminated Glass market will be significantly impacted in 2020. (EVA) or polyvinyl butyral (PVB) between the layers of regular glass, reducing the glass shattering chances entirely, unlike other forms of glass. The glass is used in car windshields and sunroofs, where it forms a spiderweb-like appearance and protects passengers in the event of a hard hit or external pressure. Laminated glass is used by Tesla, Ferrari, and Volvo in all of their vehicles with panoramic sunroofs. COVID-19 has had a significant effect on the global automobile industry, resulting in the closure of a variety of manufacturing plants around the world. Depending on how the virus spreads, global automotive sales are predicted to drop by 8–10 percent this fiscal year.
Asahi India Glass LimitedCentral Glass Co., Ltd.
CSG Holdings Co., Ltd.
Fuyao Group.
GUARDIAN GLASS LLC.
Nippon Sheet Glass Co. Ltd.
Saint-Gobain India Pvt. Ltd.
Sisecam Group
Taiwan Glass Ind. Corp.
Xinyi Glass Holdings Co., Ltd
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