The new report by Expert Market Research titled, ‘Global Fire Resistant Glass Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global fire resistant glass market, assessing the market based on its segments like products, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2020): USD 4.7 billion
- Forecast CAGR (2022-2027): 10.4%
The fire resistance glass market is driven by the thriving construction sector. In the construction industry, the rising demand for fire resistance glass can be attributed to the increasing focus on fire protection for the safety and welfare of the residents. Rising population and particularly the growth in the number of households is leading to a surge in housing demand. The increased risk of accidental fire is a growing concern for builders. Therefore, fire resistance glass is becoming a necessity in the construction sector. The rising investments from the key players towards enhancing fire resistance technology is expected to aid the market growth in the forecast period. In post-COVID days, as the various sectors recover from the negative impacts of the pandemic, the product is likely to witness a rise in demand, buttressed by the efforts of the government.
Industry Definition and Major Segments
Fire resistance glass, shortened for FRG is defined as a specialist glass that has been demonstrated to provide protection against fire in a fire resistance test. The level of protection provided varies depending on the type of fire-resistant glass used, but in general, all fire-resistant glass functions as a barrier to prevent the spread of smoke and flames during the event of a fire.
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The fire resistant glass market, on the basis of product, can be segmented into:
- Wired
- Ceramic
- Tempered
- Gel Filled
On the basis of application, the market can be categorised into:
- Construction
- Marine
The regional markets for fire resistance glass include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Among these, Europe represents a significant share of the fire resistance market.
Market Trends
The rising prevalence of accidental fire across the continents is likely to aid the market as governments are mandating the adoption of fire resistance glass in the commercial and residential market. Regions like Europe and North America are expected to adopt stringent fire prevention policies and major countries in other regions are expected to follow. Furthermore, the rising disposable and discretionary income in developing countries like China and India are expected to further enhance the product demand in the automobile sector. The rapid technological advancements and increasing investments by the key players to develop innovative solutions with latest features are anticipated to significantly contribute to the market growth.
Key Market Players
The major players in the market are Schott AG, Pyroguard UK Ltd., Asahai Glass Co. Ltd., Fuso Glass India Pvt. Ltd., Ravensby Glass Co. Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.
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