by The global Laminated Glass Market is estimated to be valued at US$ 23997.84 Mn or Bn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Laminated glass finds applications in architectural and automotive applications due to its properties such as impact resistance, UV protection, noise reduction and sound insulation. It provides safety and security benefits along with energy efficiency.
Market key trends:
One of the key trends in the laminated glass market is growing demand from automotive industry. Laminated glasses are ideal for use in windshields and sideluming panes in vehicles as they provide safety and security benefits. They help prevent passenger injury during accidents by holding glass shards together if the window breaks. This makes laminated glass a mandatory requirement in most countries for automotive windshields. Growing automotive production and sales worldwide is thus driving the demand for laminated glass.
Market key trends:
One of the key trends in the laminated glass market is the increasing demand from the automotive and construction industries. Laminated glass is increasingly being used in windshields and windows of automobiles due to its high impact resistance property. In the construction industry, laminated glass is used in railings, doors, skylights, etc. to provide safety and security. Its ability to hold together even when broken has made it a popular choice for applications where safety and security are a priority.
SWOT Analysis
Strength: High impact resistance and safety properties of laminated glass make it suitable for applications in automotive and construction industries where safety is critical.
Weakness: Laminated glass is more expensive than normal glass due to additional processing and materials involved.
Opportunity: Growing construction and automotive industries in developing countries offer significant growth opportunities for laminated glass market.
Threats: Fluctuations in raw material prices can increase the overall costs. Easy availability of substitutes like tempered glass is also a threat.
Key Takeaways
The Global Laminated Glass Market Size is expected to witness high growth, exhibiting CAGR of 5.7% over the forecast period, 2023 to 2030, due to increasing demand from the automotive and construction industries where safety and security features are critical.
The Asia Pacific region dominated the global laminated glass market in 2023, with a share of over 35%. Rapid infrastructure development and industrialization activities in countries like China and India are driving the demand in the region.
Europe and North America are other major markets for laminated glass, owing to stringent safety regulations for automotive and construction applications in these regions.
Key players operating in the laminated glass market include Xinyi Glass, Flat Glass Group, AGC Inc., Cardinal Glass Industries, Inc, Fuyao Group, CSG Holding, Central Glass Co., Ltd., Fuso Glass India Pvt. Ltd., Shanghai Yaohua Pilkington Glass, Guardian Industries, NSG Group, Schott AG, Vitro, S.A.B. de C.V., China Luoyang Float Glass Group Co., Ltd., Arnold Glas Corporation, Saint-Gobain.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
