What Has Been The Evolution of the Advanced Glass Market in Recent Years?
The advanced glass market has seen considerable growth due to a variety of factors.
• The market size for advanced glass has witnessed significant growth in the past few years. It is projected to rise from $70.46 billion in 2024 to $76.5 billion in 2025, marking a Compound Annual Growth Rate (CAGR) of 8.6%.
The surge during the historic period can be attributed to the escalated focus on energy efficiency, expansion in the automotive industry, application in solar energy, governmental laws and standards, inclination towards aesthetics by consumers, and concerns regarding safety and security.
What Are the Future Growth Projections for the Advanced Glass Market?
The advanced glass market is expected to maintain its strong growth trajectory in upcoming years.
• Over the next few years, the advanced glass market is predicted to experience significant expansion. The market size is projected to escalate to about $102.81 billion by 2029, reporting a compound annual growth rate (CAGR) of 7.7%.
Factors such as the surge in popularity of electric vehicles, global endeavors towards energy preservation, public space health and safety considerations, the requirement for high-efficiency displays, and the promotion of a circular economy can be associated with this predicted growth. Innovative coated glass technology, lightweight automotive glazing, sustainable and recyclable glass solutions, the incorporation of augmented reality into glass production, and advancements in glass nanotechnology are key trending factors during this forecast period.
What Are the Critical Driver Fuelling The Advanced Glass Market's Growth?
The advanced glass market is predicted to benefit from the proliferation of green buildings. Enhanced living conditions can be provided by green constructions thanks to their design and execution. In obtaining credit scores in six Leadership in Energy and Environmental Design (LEED) categories, advanced architectural glass is highly beneficial. It aids in reducing energy usage in green buildings pertaining to heating, cooling, and artificial light altogether. As per the US Green Building Council (USGBC), a global nonprofit in January 2023, over 11 billion gross sq. ft were covered by 100,000 LEED-certified projects. Moreover, in Q3 2022, more than 5,000 new projects in the US obtained LEED certification, and an additional 8,800 project registrations were made in 2022. Consequently, the growth of green constructions is giving a thrust to the advanced glass market. The advanced Glass Market is fueled by the accelerating automotive industry. The automotive sector, which comprises numerous firms engaged in the design, development, manufacture, marketing, sales, and servicing of motor vehicles, holds potential for the growth of the advanced glass market. The automotive industry greatly benefits from advanced glass by witnessing improvements in safety measures, comfort and overall vehicle performance. For instance, the European Automobile Manufacturers' Association reported in May 2023 that in 2022, a 5.7% increase was observed from 2021, with 85.4 million motor vehicles produced around the globe. Furthermore, the International Organization of Motor Vehicle Manufacturers, a 36-nation trade union, pointed an increase in the total production of cars and commercial vehicles from 80,145,988 in 2021 to 85,016,728 in 2022. Therefore, the expansion in the automotive sector is spurring the growth of the test and measurement equipment market.
What Are The Major Segments Within The Global Advanced Glass Market?
The advanced glass market covered in this report is segmented –
1) By Type: Laminated Glass, Tempered Glass, Ceramic Glass, Other Types
2) By Application: Solar Control, Safety And Security, Optics And Lighting, High Performance, Other Applications
3) By End-Use: Construction, Infrastructure, Automobiles, Electronics, Other End-Uses
Subsegments:
1) By Laminated Glass: Safety Glass, Soundproof Glass
2) By Tempered Glass: Heat-Strengthened Glass, Float Glass
3) By Ceramic Glass: Glass-Ceramic Cooktops, High-Temperature Applications
4) By Other Types: Coated Glass, Smart Glass, Reflective Glass
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Which Trends Are Expected To Transform The Advanced Glass Market?
Key players in the advanced glass market are focusing their efforts on implementing innovations such as improved scratch resistance, which offers double the scratch resistance of other lithium aluminosilicate protective glasses. Scratch resistance is a measure of how well a material resists scratches or abrasions that could alter its look, feel, or functionality. For example, in June 2024, Corning Inc., a technology firm based in the United States, introduced Gorilla Glass 7i, a product specially designed for mid-range and budget smartphones. This new glass technology promises superior drop protection and double the scratch resistance of comparable products. It was created with mid-range phones in mind, offering the durability expected of high-end devices. Formulated with sustainability in mind, it caters to the needs of contemporary displays like OLED screens. This advancement in technology will bring high-level protection to a broader customer base.
Who Are the Key Players In The Advanced Glass Market?
Major companies operating in the advanced glass market report are:
• Saint-Gobain S.A.
• PPG Industries Inc.
• Kyocera Corporation
• AGC Inc.
• Corning Inc.
• Hoya Corporation
• Guardian Industries LLC
• Fuyao Glass Industry Group Co. Ltd.
• Xinyi Glass Holdings Limited
• Schott AG
• Vitro S.A.B. de C.V.
• Gentex Corporation
• Central Glass Co.
• Ferro Corporation
• China Glass Holdings Limited
• Cardinal Glass Industries
• Sisecam Group
• Ohara Corporation
• Technical Glass Products Inc.
• Euroglas GmbH
• Abrisa Technologies Inc.
• Sumita Optical Glass Inc.
• Tyneside Safety Glass Company Limited
• Vuzix Corporation
• Accuratus Corporation
• Advanced Glass & Mirror Corp
• American Precision Glass Corp.
• Pegasus Glassworks Inc.
• Nippon Sheet Glass Co.
• Glaston Corporation
What Is The Most Dominant Region In The Advanced Glass Market?
North America was the largest region in the advanced glass market in 2024. The regions covered in the advanced glass market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
