Advanced Glass Market will reach $ 90.21 Billion by 2026, CAGR 7.2%Download Sample Reports Overview
As per research of Research Dive, Advanced Glass Market forecast shall register $ 90.21 Billion by 2026, at a CAGR of 7.2% from 2019 to 2026.
Rapid growth in industrialization and urbanization, extensive development in the automobile sector coupled with increase in expenditure for real estate market are fueling the global advanced glass market. Advanced glasses are more thermal shock resistant, reliable and environmentally- friendly. Enormous demand for electronic appliances and smart home gadgets along with spur in energy efficient skyscrapers and smart mirrors anticipated to spur the advanced glass market during the forecast period. On the other hand, rise in prices and raw materials unavailability along with widening demand-supply gap anticipated to hamper the global market. Rise in industrial application for advanced glass in electrics and automotive sectors along with prominent use in containers and scientific products is anticipated to create enormous opportunities in global advanced glass market. Advanced Glass has also found new uses in the communications and electronics industries. Additionally, recycled glass is lower cost than raw silica for manufacturing new bottles. Aforementioned, advanced glass market trends are anticipated to create lucrative opportunities in the market.
Safety and security segment will account for $32,837.4 million by the end of 2026, increasing at a CAGR of 7.0% during the forecasted period. This is mainly due to rising expansion of financial institutions in developing as well as developed countries followed by huge infrastructural development is anticipated to boost the global market demand over the forecast period. Solar control segment is anticipated to grow rapidly due to increased demand for advanced glass in green towers coupled with growing emphasis to decrease carbon dioxide (CO2) emissions is likely to have a significant impact on the global market and this will surpass $25,079.1 million by 2026, at CAGR more than 7.6%.
The market for laminated glass will have the major share of the advanced glass market. This is mainly due to stringent automotive safety codes along with increasing investments in infrastructure projects which is anticipated to boost the global market and it will cross $26,522.5 million over the forecast period, at a healthy CAGR of 6.9% till 2026.Coated glass will see a growth due to its architectural application and technological advancements. It will generate revenue of $25,079.1 million by 2026, at a CAGR of 7.6% till 2026.
The market for building and construction sector will have the significant share of the advanced glass market and it will cross $21,019.5 million by 2026, at a CAGR of 6.8% till 2026. Advanced glass is majorly used in roofs and facades in order to improve the aesthetics and architecture of the tower. Also, renovation of the old infrastructures is expected to drive the global market. Advanced glass market for automotive sector will have the fastest growth in the forecasted period and it will reach upto $19,215.3 million by 2026, growing at a healthy CAGR of 8.0% till 2026. Rising luxury vehicle production and device embedded glass in passenger vehicles is anticipated to drive the advanced glass market growth.
Europe advanced glass market size will surpass over $20,568.5 million by the end of 2026, increasing at a CAGR of 7.7%. Europe region market is projected to grow at a high rate mainly due to extensively growing automotive and building & construction industry mainly in economies such as France, Germany and Italy. The Asia Pacific’s advanced glass market will surpass $30,250.1 million by the end of 2026, rising at a CAGR of 7.0%. This is majorly due to the increasing industrialization in the developed and developing economies such as China, India, Malaysia and Japan. Rapid rise of green tower trends and commercial infrastructure coupled with growing renovation of the old infrastructures in this region projected to provide major growth of global market.
Advanced Glass Industry Players:
- Saint Gobain Nippon Sheet Glass Co. Ltd.
- Advanced Glass & Mirror, Inc.
- PPG Industries Asahi Glass Co
- Sherwin Williams
- Corning Inc.
- Company Sisecam Group
- Guardian Industries
To gain competitive advantage, these key players investing in huge amount for the Research and development activities to improved advanced glass. For example, Nippon Sheet Glass Co. Ltd. Group has augmented the coated glass manufacturing in order to support solar market.