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The rapid growth of the construction industry has increased the demand for advanced glass, boosting the global market. Furthermore, the expanding automotive industry is expected to fuel the market's growth. The rise in the need for better infrastructure due to rapid urbanization further stimulates market expansion.
The SNS Insider report indicates that the Advanced Glass Market is valued at USD 74.71 billion in 2022 and is expected to grow at a CAGR of 10.2%, reaching USD 162.50 billion by 2030 advanced glass market is experiencing robust growth globally, driven by increasing demand across various end-use industries such as construction, automotive, electronics, and healthcare. Advanced glass, also known as specialty glass or high-performance glass, encompasses a wide range of specialized glass products engineered to offer superior properties such as strength, transparency, thermal insulation, and resistance to environmental factors. This type of glass finds applications in architectural glazing, automotive windows, display panels, optical devices, and medical equipment, among others, where conventional glass cannot meet the stringent performance requirements.
One of the key drivers of the advanced glass market is the growing emphasis on energy efficiency and sustainability in construction and automotive sectors. Advanced glass products such as low-emissivity (low-e) glass, smart glass, and vacuum-insulated glass (VIG) offer enhanced thermal insulation properties, allowing buildings and vehicles to reduce energy consumption for heating, cooling, and lighting purposes. As governments worldwide implement stricter regulations and green building standards to mitigate carbon emissions and promote energy conservation, the demand for energy-efficient advanced glass solutions is expected to surge significantly.
Moreover, the rapid technological advancements and innovations in the electronics and display industry are fueling the adoption of advanced glass for high-resolution displays, touchscreens, and optical components. Advanced glass substrates such as ultra-thin glass, chemically strengthened glass, and flexible glass enable the development of lightweight, durable, and high-performance electronic devices with improved visual clarity and responsiveness. Additionally, the increasing penetration of advanced glass in medical devices, laboratory equipment, and pharmaceutical packaging is driven by its exceptional chemical resistance, biocompatibility, and sterilizability properties, which are crucial for ensuring product safety and efficacy in healthcare applications.
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Some of the Key Players Included are:
Advanced Glass & Mirror Inc. Corning Inc. Fuyao Glass Industry Group Co. Ltd. Huihua Glass Co. Limited Nippon Sheet Glass Co. Ltd. Saint Gobain Sisecam Group Tyneside Safety Glass Asahi Glass Co. Koch Industries Other Players
Market Report Scope:
Advanced Glass, crafted through a chemical and mechanical process involving materials like silica sand, natural gas, and soda ash, offers distinct features tailored for various applications. Widely used in automotive, electronic, and other industries, it serves purposes ranging from screen protection to noise reduction and UV control. The market's growth is propelled by increased building and construction activities, automotive sector expansion, and the demand for better infrastructure to meet design flexibilities. However, challenges such as fluctuating raw material availability and rising costs may impact market growth.
Market Analysis:
The rising building and construction industries, coupled with advancements in electronics, especially in handheld devices, drive the Advanced Glass Market. Expanding construction and automotive applications, increased demand for infrastructure development, and the growing application of advanced glass in the building sector contribute to market expansion. Urbanization, both in emerging and developed economies, fuels the demand for housing and infrastructure, further supporting market growth. Despite this, severe government regulations and the availability of cost-effective replacements pose potential challenges.
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Segment Analysis:
In terms of function, the safety & security segment holds the highest market share, driven by applications in manufacturing, construction, oil & gas, chemicals, and mining industries. Toughened glass dominates by product type, accounting for 40% of market revenue in 2022, mainly due to its use in the automotive, construction, and furniture industries. The automotive segment leads in the end-use industry, contributing 45% to market revenue in 2022, driven by green constructions, energy-efficient buildings, population expansion, and rising incomes.
By Function
Safety & security Solar Control Optics & Lighting High Performance
By Product Type
Coated Glass Laminated Glass Toughened Glass Ceramic Glass
By End Use Industry
Building & Construction Aerospace & Defense Automotive Electronics Sports & Leisure Optical Others
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Key Regional Development:
Asia-Pacific is expected to grow with the highest CAGR from 2023-2030 due to increased demand for advanced glass products and rising awareness. Japan and China's focus on building power-generation solar panels contributes to market growth in the region, expanding across transportation, building, and power generation sectors.
Key Takeaways for Advanced Glass Market Study:
The market thrives on increased construction and automotive activities, driven by urbanization and infrastructure demands. The region's rapid growth is propelled by a surge in demand and awareness, especially in solar panel production, making it the fastest-growing market. Safety & security and toughened glass segments dominate, reflecting the importance of safety and durability in various industries. Despite strong growth prospects, government regulations and cost-effective alternatives pose challenges to market expansion.
Recent Developments:
In December 2023, Saint-Gobain Glass launched MIRALITE® EASYSAFE, a shatterproof mirror ensuring safety in case of breakage. In January 2022, Corning Incorporated introduced a new glass composition, enhancing augmented and mixed reality experiences. In September 2021, BASF and Fuyao Group signed a strategic cooperation agreement for automotive industry development.
Advanced Glass Market Table of Contents – Major Key Points
Introduction
Research Methodology
Market Dynamics
Impact Analysis
COVID-19 Impact Analysis Impact of Ukraine- Russia war Impact of ongoing Recession
Value Chain Analysis
Porter's 5 Forces Model
PEST Analysis
Global Advanced Glass Market, By Function
Global Advanced Glass Market, By Product Type
Global Advanced Glass Market, By End Use Industry
Regional Analysis
Company Profiles
Competitive Landscape
Use Case and Best Practices
Conclusion
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