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Advanced Glass Market Analysis by Glass Type (Laminated, Coated, and Toughened Glass); by End Use Sector (Commercial, Residential Construction, Infrastructure, Automobiles, Electronics, and Sports & Leisure); and by Application (Safety & Security, Solar Control, Optics & Lighting, and High Performance) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035

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Inflation And Looming Recession to Haunt Businesses:

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.

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Purchasing power in the couPurchasing 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.                                                         Request Insights

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IN THE NEWS

  • Huihua Co., Limited to develop a new pattern of glass with silk road. The range of glass included was laminated, tempered, textured, and etched glass. The company is also determined to launch and produce new lines of glass in the upcoming years.

  • Fuyao Group acquires the “Global Excellence Gold Award” at the 2018 Jaguar Rand Rover Supplier Conference held in the United Kingdom. The award was offered for reaching a good relationship with Jaguar Rover by supplying wired heating glass and other industry benchmarking products.

Global Advanced Glass Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Base Year

2022

Forecast Year

2023-2035

CAGR

~12.60%

Base Year Market Size (2022)

~ USD 74.96 Billion

Forecast Year Market Size (2035)

~ USD 311.34 Billion

 

 

The global advanced glass market is estimated to garner a revenue of USD 311.34 billion by the end of 2035 by growing at a CAGR of ~12.60% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of USD 74.96 billion in the year 2022. The growth of the market can primarily be ascribed to the higher utilization of glass in the construction industry. For instance, global spending in the construction industry was projected to reach approximately USD 20 trillion by 2035.

glass market overview image

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Global advanced glass market trends such as, booming demand in the aerospace and automotive industry are projected to influence the growth of the market positively over the forecast period. As of 2021, automobile sales were estimated to be around 65 million units. Advanced glass is prepared by mixing pure silica, natural gas, sodium carbonate, iron, and others to deliver the finest quality of glass. Advanced glass provides excellent features such as UV control, noise cancellation, sound reduction, and others. Hence, such factors are expected to propel the growth of the market over the forecast period.

Global Advanced Glass Market: Growth Drivers and Challenges

Growth Drivers

  • Higher Utilization of Advanced Glass in Solar Panel ManufacturingIn 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.Solar panels are devices that collect sunlight to convert solar energy into electricity. 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, making the interior cooler, allowing optimum light transmission, and others.

  • Growing Demand for Safety GlassesIt 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 GlobeAs 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 TelevisionIn 2022, the television segment was anticipated to hit around USD 150 billion.

Challenges

  • Requirement for Higher Initial Investment
  • Presence of the Alternatives in the Market
  • Decline in the Supply-Chain due to COVID-19

The global advanced glass market is segmented and analyzed for demand and supply by 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. The growth of the segment can be accounted to the increasing spending on construction. As of 2022, the total spending on residential and nonresidential construction was anticipated to be nearly USD 900 billion and USD 500 billion in the United States alone.

Global Advanced Glass Market Regional Synopsis

Regionally, the global advanced glass market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America region is projected to hold the largest market share by the end of 2035. The growth of the market in the region can be ascribed to the rising construction industry and escalating utilization of solar energy. For instance, in 2022, more than 20 million solar panels were installed in the United States while nearly 1.5 million households in the USA consumed solar energy. Hence, such factors are expected to propel the growth of the market over the forecast period.

glass market share image

The global advanced glass market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global advanced glass market includes the following segments:

 

         By Glass Type

  • Laminated
  • Coated
  • Toughened Glass

 

         By End Use Sector

  • Commercial
  • Residential Construction
  • Infrastructure
  • Automobiles
  • Electronics
  • Sports & Leisure

 

 

          By Application

  • Safety & Security
  • Solar Control
  • Optics & Lighting
  • High Performance

Top Featured Companies Dominating the Global Advanced Glass Market

  • Tyneside Safety Glass Co. Ltd

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Advanced Glass & Mirror Inc.
  • Sisecam Group
  • AGC Group 
  • Compagnie de Saint-Gobain S.A
  • Fuyao Group
  • Huihua Co., Limited
  • Koch Industries, Inc.
  • Nippon Sheet Glass Co., Ltd.
  • Corning Incorporated

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