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Advanced Glass Global Market Report 2022: Rise in Demand of Advanced Glass in the Automotive Industry is Expected to Propel Growth
Dublin, March 03, 2023 (GLOBE NEWSWIRE) -- The "Advanced Glass Market by Type, Application, Product - Global Opportunity Analysis and Industry Forecast, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
The Global Advanced Glass Market size valued to USD 65.89 billion in 2021, is projected to garner USD 117.93 billion by 2030, witnessing a CAGR of 6.7% from 2022-2030.
Advanced glasses are superior grade glasses, manufactured using soda-ash, natural gas, and silica sand. Depending on its application, these glasses undergo various chemical and mechanical procedures, hence offering highly technical and technological advancements. These glasses have numerous advantages such as resistance to ultra-violet rays, solar control, UV protection, sound reduction, durability, safety, and security. Due to high performance index, these glasses have wide applications in different industry verticals such as construction, automotive, electronics, sports, optics, lighting, as well as aerospace & defense.
Market Dynamics and Trends
The upsurge in urbanization demands better construction of residential, commercial and industrial infrastructures. The growing demand for advanced infrastructures and modern architectures, are bolstering the global advanced glass market growth. Besides, increasing adoption of advanced glasses in optics, lighting, electronic gadgets, home appliances, and other cutting-edge technologies are to propel the market growth during the forecast period.
However, high-cost raw materials and their accessibility, may hinder the growth of global advanced glass market, during the forecast period.
Moreover, factors like raising demands for value-added materials in infrastructural advancements, stringent building & automobile safety codes, emerging economies proceeding to larger markets, and heavy investments in R&D activities, are to create lucrative opportunities in the global advanced glass market in future.
Geographical Analysis
North America denotes a higher adoption of the advanced glass, hence it is expected to hold the highest advanced glass market share during the forecast period. This is attributable to the factors like growth in energy efficient building projects, high R&D investments, high consumer awareness, and technological advancements.
It is expected that the emerging economies, specifically the Asia-Pacific region shall witness a growing market size, owing to factors such as rise in infrastructure expenditure, increasing demand for highly precise structured glasses, proliferating automobile sales and increasing vehicle manufacturing capacities.
Competitive Landscape
The advanced glass market engrosses various market players. Some of the major market players are Asahi Glass Co., Ltd., Saint Gobain S.A., Nippon Sheet Glass Co., Ltd., Corning Inc., GrayGlass Company, Schott AG, Advanced Glass & Mirror, Inc., Guardian Industries, Sisecam Group, PPG Industries, Inc., Abrisa Technologies, Central Glass Co., Ltd., Euroglas GmbH, and others.
There are tremendous technological advancements taking place in the global advanced glass market. For instance, in January 2020, Corning Inc. announced its first auto-grade solution by showcasing its brand-new technical glass innovations at the 2020 Consumer Electronics Show. The showcase featured latest vehicles to adopt auto-grade gorilla glass with Corning's patented cold-form technology, that enables a more immersive experience for drivers by providing smartphone-like touch sensitivity. Where the showcase has featured Corning's advanced glass solutions, enabling the latest trends in the mobile consumer electronics, display, and automotive industries; its curved dual-display module enhances the interior display system with anti-reflective and decorative cover glass technology.
Market Dynamics
Drivers
Rise in Demand of Advanced Glass in the Automotive Industry is Expected to Propel the Growth of the Market.
Growing Usage of Advanced Glass in Construction Activities and Energy Storage Applications is Another Driving Factor of this Market
Restraints
Rising Raw Material Cost Associated With Advanced Glass May Hinder the Growth of the Market
Opportunities
Advanced Glass Material Products Will Be Ultra-Thin, Large in Size, and Multi-Functional, and Provide High Transmittance. Such Products Will Provide Lucrative Opportunities for the Advanced Glass Market
New Innovations in Smart Glass Technology
KEY MARKET SEGMENTS:
Global Advanced Glass Market - By Type
Safety & Security
Solar Control
Optics & Lighting
High performance
Global Advanced Glass Market - By Application
Building and Construction
Aerospace & defense
Automotive
Electronics
Sports and Leisure
Optical
Others
Global Advanced Glass Market - By Product
Coated glass
Laminated glass
Toughened glass
Ceramic glass
Global Advanced glass Market - By Geography
North America
U.S.
Canada
Mexico
Europe
UK
Germany
Spain
France
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
Korea
Australia
Rest of Asia-Pacific
RoW
Brazil
Argentina
South Africa
Remaining Countries
A selection of companies mentioned in this report includes
Asahi Glass Co., Ltd.
Saint Gobain S.A.
Nippon Sheet Glass Co., Ltd.
Corning Inc.
GrayGlass Company
Schott AG
Advanced Glass & Mirror, Inc.
Guardian Industries
Sisecam Group
PPG Industries, Inc.
Abrisa Technologies
Central Glass Co., Ltd.
Euroglas GmbH
For more information about this report visit https://www.researchandmarkets.com/r/e0eckk
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