Advanced Glass Market size is poised to cross USD 311 Billion by the end of 2035, growing at a CAGR of 9.57% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of advanced glass was over USD 75 Billion. 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.
Furthermore, increased adoption in the aerospace sector would fuel advanced glass 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.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~13% |
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Base Year Market Size (2022) |
~ USD 75 Billion |
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Forecast Year Market Size (2035) |
~ USD 311 Billion |
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Regional Scope |
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Growth Drivers
Challenges
Glass Type (Laminated, Coated, Toughened Glass)
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.
End-user (Commercial, Residential Construction, Infrastructure, Automobiles, Electronics, Sports & Leisure);
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 a building thermal 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 Glass Type |
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By End Use Sector |
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By Application |
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North American Market Forecast
Since advanced glass is widely utilized in the North American advanced glass market, it is predicted that the region will have the biggest market share by the end of 2035. Since the region's expanding building sector and increasing consumption of solar energy are dynamically accelerating the utilization of solar panels which is further anticipated to fuel the market in the region over the forecast period. 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 advanced glass market in the region.
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.
Author Credits: Sadaf Naaz, Mohd Shadab
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