Fire Resistant Glass Market Is Anticipated To Grow At A CAGR Of 8.5%, Reaching A Valuation Of US$19.63 Billion By 2032 | Polaris Market Research

(MENAFN- GlobeNewsWire - Nasdaq) Increasing investments in fire resistant glass and the growing construction sector are expected to accelerate the global fire-resistant glass market growth

New York, USA, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Market Overview:

The global fire resistant glass market size was valued at USD 9.43 billion in 2023 and is anticipated to reach USD 19.63 billion by 2032 at a robust CAGR of 8.5% during 2024–2032.

What is Fire Resistant Glass?

Fire-resistant glass, also referred to as fire-rated glass, is a type of specially laminated glass that is designed to resist the spread of fire and smoke. In a fire safety program, these glasses perform an important role by preventing flame and heat from spreading for an extended time period. E, EI, and EW glass are the three most commonly used fire resistant glass types.

In research and development facilities, fire-rated glass can be utilized to avoid radiation's spreading from one area to another. Due to their versatility, fire-resistant glass can also be combined with aluminum, wooden, and steel frames. Other applications include partitions in an office space, data storage and server rooms, and stair enclosures.

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Market Report Attributes

Report Attributes	Details
Market value in 2023	USD 9.43 billion
Market value in 2032	USD 19.63 billion
CAGR	8.5% from 2024 to 2032
Base year	2023
Historical data	2019–2022
Forecast period	2024–2032

Key Highlights of Report:

• Various factors such as the rising frequency of fire incidents, growing investments in fire-resistant glass, expansion of the construction sector, launches of advanced products, and strong safety standards by government are boosting the fire resistant glass market growth.
• The market is primarily segmented on the basis of product type, application, and region.
• Based on region, North America held the largest fire resistant glass market share in 2023.

Fire Resistant Glass Market Key Players:

• AGC Inc.
• Asahi India Glass Limited
• Glas Trosch
• Heshan Hengbao Fireproof Glass Factory Co. Ltd.
• Nippon Sheet Glass Co., Ltd
• POLFLAM Sp. z o.o.
• Pyroguard Ltd.
• SAFTI FIRST
• Saint-Gobain
• Technical Glass Products, Inc.
• The SCHOTT Group

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Growth Drivers and Trends:

• Surge in Fire Incidents: The rising frequency of fire incidents worldwide is boosting the demand for effective fire-resistant buildings. For example, according to data from the National Fire Protection Association, in 2022, an estimated 1.5 million fires occurred in the United States, resulting in 3,790 civilian deaths and 13,250 civilian injuries. The property damage was estimated at $18 billion. Alarmed by such incidents, property owners and developers are increasingly investing in fire-resistant glass to prevent the spread of fire and smoke, significantly fueling the growth of the fire resistant glass market.
• Expansion of Construction Sector : The increasing number of construction activities and investments in advanced fire safety measures are observed in the construction industry. These investments have prompted builders and developers to enhance protection for occupants and property by integrating fire-resistant materials, such as glass. Therefore, the rising spending in the construction industry is expected to accelerate the fire resistant glass market growth.
• Numerous Product Launches: Leading manufacturers are continuously spending on R&D activities and introducing innovative products that meet the changing needs of architects and builders. Thus, various technologically advanced product launches boost the market CAGR.
• Strong Government Guidelines: Governments and regulatory bodies worldwide are strengthening building construction and fire safety standards that mandate the use of fire resistant materials. As a result, contractors incorporate fire-resistant glass in construction to comply with regulations, thereby enhancing fire resistant glass industry expansion.

Which Region Leads Fire-Resistant Glass Market Globally?

• North America: in 2023, North America accounted for the major revenue share of the fire resistant glass market owing to the surge in military and defense spending on upgrades and national security. Also, the rising demand for fire-resistant glass in military and defense applications is driving the market growth, as it protects against fire incidents and harsh weather conditions.
• Asia Pacific: The presence of various key glass companies that are introducing a variety of fire-resistant glass products is expected to enhance the industry expansion. Moreover, local production capabilities are reducing reliance on imports, reducing costs, and enhancing supply chain efficiency. Consequently, the fire resistant glass market in Asia Pacific is projected to record a strong CAGR during the forecast period.

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Segmental Overview

Fire Resistant Glass Product Type Outlook

• Ceramic Glass
• Laminated Glass
• Tempered Glass
• Wired Glass
• Others

Fire Resistant Glass Application Outlook

• Automotive
• Building and Construction
• Military and Defense
• Marine
• Others

Fire Resistant Glass Regional Outlook

• North America

• US
• Canada

• Europe

• Germany
• France
• UK
• Italy
• Spain
• Netherlands
• Russia
• Rest of Europe

• Asia-Pacific

• China
• Japan
• India
• Malaysia
• South Korea
• Indonesia
• Australia
• Rest of Asia-Pacific

• Middle East & Africa

• Saudi Arabia
• UAE
• Israel
• South Africa
• Rest of Middle East & Africa

• Latin America

• Mexico
• Brazil
• Argentina
• Rest of Latin America

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