In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
Huihua Co., Limited created novel patterns of glass with silk road. Laminated, tempered, textured, and etched glass were among the types of glass employed. The enterprise also intends to introduce and manufacture additional glass lines in the ensuing years.
Fuyao Group won the "Global Excellence Gold Award" at the 2018 Jaguar Rand Rover Supplier Conference held in the UK. The accolade was given in recognition of establishing an excellent working relationship with Jaguar Rover by providing wired heated glass and other standard-setting items.
Advanced glasses are premium-grade glasses made from soda ash, natural gas, iron, and pure silica (fused quartz, SiO2). These glasses go through numerous chemical and mechanical treatments depending on their intended use, providing enhanced technical and technological developments. These glasses have many benefits, including UV resistance, sun control, UV protection, noise reduction, longevity, safety, and security. These glasses are widely employed in a variety of industrial verticals, including environmentally friendly construction, automotive, electronics, sports, optics, lighting, and smart homes sectors owing to their excellent performance index.
The industry is currently dominated by a range of advanced glass variants, including smart glass, thin glass, security glass, nanochannel glass, bioactive glass, and self-cleaning glass. It offers distinctive qualities and features that are suited to a range of applications. For instance, the screens of mobile phones and computers can be shielded with advanced glass.
It is one of the most demanded types of glass. Innovative scientific materials and processes are employed in the production of advanced glass. Specific grades of advanced glass are employed for particular applications. It is becoming more important as a result of growing end-use applications, expanding infrastructure and development in industrialized nations, and better lifestyles and economies in nations such as India, Argentina, Brazil, China, and Japan.
Base Year |
2022 |
Forecast Year |
2023-2035 |
CAGR |
~13% |
Base Year Market Size (2022) |
~ USD 75 Billion |
Forecast Year Market Size (2035) |
~ USD 311 Billion |
Regional Scope |
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The global advanced glass market is estimated to garner a revenue of ~USD 311 Billion by the end of 2035 by growing at a CAGR of ~13% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~USD 75 billion in the year 2022. The increased application of glass in the construction sector is the principal factor contributing to the market's expansion. Glass is a versatile construction element that may be used for everything from lighting to insulation to enhancing a building's appearance. The primary benefits of employing glass in a building include up to 80% natural light transmittance, acoustic proofing, and thermal insulation, weather resistance, holding up well to the impacts of rain, sun, and wind. For instance, it was predicted that global investment in the construction sector would reach over USD 20 trillion by 2035.
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Furthermore, increased adoption in the aerospace sector would fuel market expansion. Aerostructures use aerospace glass to reduce weight, boost payload capacity, and enhance fuel efficiency. It is frequently used in interior applications where weight savings of up to 20% are possible, such as cargo liners, floors, chairs, and other secondary structural sections. Production of aircraft is anticipated to increase by 57% over 2022-2028 across the globe. For instance, the Arlington, Virginia-based business stated that they are anticipating delivering 400 to 450 of its 740 aircraft by the end of 2023, an increase from approximately 375 aircraft in 2022.
Higher Utilization of Advanced Glass in Solar Panel Manufacturing - In 2018, approximately 25 exajoules of renewable energy were consumed across the globe while the demand for solar PV is projected to reach around 100 gigawatts by 2024. Photovoltaic cells collectively make up solar panels which are being highly installed across the globe. Photovoltaic glass is the main technology behind the functionality of solar panels. Other benefits of solar control glass are cutting off the sun’s heat, allowing optimum light transmission, and others.
Growing Demand for Safety Glasses - It is estimated that nearly 75% of eye injuries are caused by sparks striking the eye. Moreover, around 1500 sustain job-related eye injuries in the United States every day.
Rising Sales of Optics & Lighting Across the Globe - As of 2022, the global lamps & lighting segment was estimated to generate a total revenue of approximately USD 70 billion.
Spiking Inclination of the Global Population and Sales of Television - In 2022, the television segment was anticipated to hit around USD 150 billion.
The global advanced glass market is segmented and analyzed for demand and supply by glass type into laminated, coated, and toughened glass. The toughened glass segment is anticipated to hold the largest market share over the projected time frame. Safety glass that has undergone precise thermal or chemical processing to make it stronger than regular glass is known as tempered or toughened glass. Constructions including commercial, residential, and industrial buildings, vehicle mirrors and windows, greenhouses, household appliances (such as microwaves, refrigerators, cookware, and others), and gadgets such as computers, tablets, and mobile phones can all benefit from the usage of tempered glass. For instance, in 2020, major and small home appliance sales figures worldwide were over USD 420 billion, and it is predicted that the number will rise to over USD 538 billion by 2024.
The global advanced glass market is also segmented and analyzed for demand and supply by the end-user sector into commercial, residential construction, infrastructure, automobiles, electronics, and sports & leisure, out of which, the residential construction segment is projected to witness noteworthy growth over the forecast period. In addition to being utilized to create standard windows and sensitive-looking fenestrations on facades in residential construction, glass is increasingly used as an insulation material, structural element, façade glazing component, and cladding material. The growth of the segment can be accounted to the increasing spending on construction. As of 2022, the total spending on residential and non-residential construction was anticipated to be nearly USD 900 billion and USD 500 billion in the United States alone.
Our in-depth analysis of the global advanced glass market includes the following segments:
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By End Use Sector |
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By Application |
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Since advanced glass is widely utilized in the North American market, it is predicted that the region will have the biggest market share by the end of 2035. The region's expanding building sector and increasing consumption of solar energy can be credited with the expansion of the market. For instance, more than 20 million solar panels were deployed in the USA in 2022, and around 1.5 million American houses used solar energy. Whereas, it was anticipated that the construction sector, would expand at a rate of more than 8% in the United States. A total of 1,337,800 dwelling units were constructed in the US in 2021 and had a growth of 4% from 2020. Moreover, the development of energy-efficient construction works, strong R&D spending, greater consumer awareness, and technological improvements all contribute to the further propulsion of the market in the region.
Ans: Higher utilization of advanced glass in solar panel manufacturing is estimated to majorly boost the market growth.
Ans: The market is anticipated to attain a CAGR of ~13% over the forecast period, i.e., 2023 – 2035.
Ans: The massive price for raw materials and their availability, the presence of alternatives in the market, and the decline in the supply chain due to COVID-19 are some of the major factors expected to hinder market growth.
Ans: The market in North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ans: The major players in the market are Tyneside Safety Glass Co. Ltd, Advanced Glass & Mirror Inc., Türkiye Şişe ve Cam Fabrikaları A.Ş., AGC Group, Compagnie de Saint-Gobain S.A, Fuyao Glass Industry Group Co., Ltd., Guangzhou Huihua Packaging Products Co, Ltd, Koch Industries, Inc., Nippon Sheet Glass Co., Ltd., Corning Glass Works Inc., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by glass type, end-use sector, application, and by region.
Ans: The toughened glass segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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