The global advanced glass market size was valued at USD 54,338 million in 2018 and is expected to grow at a CAGR of 7.2% over the forecast period. Advanced glass are types of superior grades glass and are manufactured using advanced substances such as natural gas, soda ash and silica sand among others, and cutting-edge technologies. They are made using chemical and mechanical processes, based on their end use applications. They have some major advantages such as anti-graffiti, protection from ultraviolet lights, and anti-shattering among others. In addition to this, they have an added benefit of sound control as well. These glasses are largely used in end use industries such as construction, automotive, electronics, aerospace, sports among others.
Rapidly growing construction industry has propelled the demand for advanced glass, thus driving the global market. In addition to this, the propelling automotive industry is also anticipated to drive the demand in the global market. As a result of the rapid urbanization, the need for better infrastructure has increased in the recent years. Advanced glasses have the benefits of locking the heat and solar control, hence making it the best option for the manufacturers to ensure consumer safety. In addition to this, advanced glass is used to prevent heat from entering the infrastructure, thus lowering the temperature of building. They are also beneficial to lower the use of air conditioners in buildings, thus reducing the carbon dioxide emissions into the environment.
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In addition to this, demand for advanced glass is expected to increase due to the rapidly growing demand for better quality electronic gadgets. However, the high costs associated with installing advanced glasses is anticipated to hamper the growth of this market in the upcoming years. Stringent government regulations pertaining to usage of energy efficient materials and urge on usage of renewable resources is expected to provide new opportunities for the key players in this market.
The market is primarily segmented on the basis of function, product type, application and geographic region.
By Product Type
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On the basis of function, the global advanced glass market is segmented into safety & security, solar control, optics & lighting, and high performance. Safety & security segment held the major share in the global market in 2018. Solar control segment is expected to witness highest growth over the forecast period. This is mainly attributed to the advantages associated with the use of advanced glass for controlling the heat.
The global advanced glass market can be segmented into laminated, coated, toughened, and ceramic glass. Laminated glass segment held the major share in the global market in 2018. Improved aesthetics and rapidly growing infrastructures in developing countries such as India and China are anticipated to fuel the demand, thus driving the growth of overall market in the forthcoming years.
The global market is segmented into construction, automotive, aerospace, electronics, sports, others based on application. Construction application segment held the major share in the global market in 2018. In recent years, the building and construction sector has been booming due to the rise in its demand from developing countries. This is mainly attributed to the rapid urbanization and increase in population in these countries. In addition to this, the rapidly growing industrial sector has also led to rise in construction industry. Automotive application segment is projected to witness rapid growth in the upcoming years.
Advanced glass offers various advantages such as resistance to thermal shock and improved durability. The key players in this market are continuously investing in R&D in order to innovate new products aligned for specific applications. In the recent years, the market has seen a surge in demand in electronics sector as well. This is mainly attributed to its use on the screens of smartphones and other electronic devices. Growing popularity of smartphones among rapidly growing population and nagging problem of consumers dropping their device has led to development of new toughened glasses.
The overall market is segmented based on regions as North America, Europe, Asia Pacific, Latin America and Middle East and Africa. In 2018, North America held the largest share in the global market owing to the increase in demand for advanced glass in the construction and automotive industry in this region. New constructions in this region are using advanced glass for solar control and protection from ultraviolet rays. Asia Pacific is anticipated to exhibit the fastest growth in the global market in the forthcoming years. Rapid industrialization in the developing countries such as India and China, is anticipated to lead to more usage of advanced glass in this region. Europe is projected to witness moderate growth in the global market in upcoming years.
Some of the leading players in the global market include Saint-Gobain, PPG Industries, Huihua Glass Co. Ltd., Guardian Industries, Sisecam Group, Glaze-Tech Industries, Nippon Sheet Glass Co., Ltd., AGC, Fuyao Glass Industry Group Co., Ltd., Sangalli Vetro Manfredonia, American Precision Glass Corp, Gentex Corporation, Schott AG, NSG Group, Xinyi Glass Holdings Limited, Occipital Inc, Abrisa Technologies, Murata Manufacturing Co Ltd, and CoorsTek, Inc., among others. Mergers and acquisitions are one of the major developmental strategies adopted by key players in the global market.
In addition to this, the major players are engaging in providing innovation and sustainable solutions to their clients so as to strengthen their presence in the global market. In line with this, in March 2019, Vitro, a North America based automotive glass manufacturer announced its investments of USD 60 million in new technologies. The investment was made to ensure the company’s continuous supply of advanced glass solutions to automotive industry in windshields, laminated sidelights, coatings and sunroofs among others. In addition to this, the major players are also planning to invest in new production facilities so as to increase their product portfolios. In line with this, NSG Group in May 2018, announced the plan to invest 38 billion yen in expansion of their coated glass production facility. This strategic move was done to support the growing solar industry.