Advanced Glass Market Outlook
According to a new report by Expert Market Research titled, “Global Advanced Glass Market Size, Share, Analysis, Report and Forecast 2024-2032″, the global advanced glass market is projected to grow at a CAGR of 7.8% between 2024 and 2032. Aided by the increasing application of advanced glass in various sectors including construction, automotive, and electronics, the market is expected to grow significantly by 2032.
Advanced glass, characterised by its enhanced properties such as increased strength, thermal resistance, and optical clarity, is revolutionising the material landscape. Its applications range from safety and security to energy savings and aesthetic enhancements in various industries. The rising demand for energy-efficient buildings and the growing automotive sector are key factors contributing to the advanced glass market growth.
The market is witnessing an upward trajectory, fuelled by technological advancements in glass manufacturing and coating technologies, leading to the production of advanced glass with superior qualities such as self-cleaning, energy efficiency, and improved insulation.
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One of the significant trends in the market is the increasing adoption of smart glass technology. Smart glass, with its ability to change its light transmission properties under external stimuli, is gaining popularity, particularly in the architectural and automotive sectors. This technology offers benefits such as energy savings, privacy, and enhanced aesthetic appeal.
The construction sector is a major driver of the advanced glass market demand. The increasing emphasis on sustainable building practices and energy efficiency has led to higher adoption of advanced glass in building facades, windows, and doors. The superior insulation properties of advanced glass contribute to reducing energy consumption, aligning with global efforts to reduce carbon emissions.
In the automotive industry, advanced glass is used for windshields, sunroofs, and windows, offering advantages such as weight reduction, improved safety, and thermal management. The rise in electric vehicle production is also contributing to the growth of the advanced glass market, as manufacturers seek materials that enhance vehicle efficiency.
North America is accounting for a significant portion of the advanced glass market share, owing to its advanced construction and automotive industries, and the presence of key market players. The region’s focus on energy-efficient buildings and vehicles supports the market growth.
Looking ahead, the market is set for considerable growth, with emerging applications in renewable energy, such as solar panels, offering new opportunities. Innovations in glass coatings and the development of more cost-effective manufacturing processes are expected to enhance the market’s potential.
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Advanced Glass Market Segmentation
The market can be divided based on function, product type, end use, and region.
Market Breakup by Function
- Safety and Security
- Solar Control
- Optics and Lighting
- High Performance
- Others
Market Breakup by Product Type
- Coated Glass
- Laminated Glass
- Toughened Glass
- Ceramic Glass
Market Breakup by End Use
- Building and Construction
- Aerospace and Defence
- Automotive
- Electronics
- Sports and Leisure
- Optical
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global advanced glass market. Some of the major players explored in the report by Expert Market Research are as follows:
- AGC Inc.
- Corning Inc.
- Fuyao Glass Industry Group Co. Ltd.
- Saint-Gobain
- Nippon Sheet Glass Co., Ltd.
- Others
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