by Laminated glass is a type of safety glass that holds together when shattered. It consists of two or more sheets of glass lamination with polyvinyl butyral interlayer. Laminated glass is widely used in products such as shower doors, bulletproof glass, windshields, and other architectural applications that require strength and security. The growing construction industry has raised the demand for safety and security in infrastructure, boosting the adoption of laminated glass in architectural applications such as doors, railings, and balconies.
The global Laminated Glass Market is estimated to be valued at US$ 23997.84 million in 2023 and is expected to exhibit a CAGR of 13. % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand from the construction industry is a major trend driving the laminated glass market. Rapid urbanization and infrastructural developments have increased the demand for commercial buildings and homes, which requires laminated glass for security purposes. Laminated glass offers high strength, safety, durability and security against burglary attempts. Its enhanced acoustic insulation properties also provide noise reduction in architectural applications. The growth of the construction industry in regions such as Asia Pacific and Central and South America is augmenting the demand for laminated glass from these emerging economies over the forecast period.
SWOT Analysis
Strength: Laminated glass offers safety and security features. It does not shatter into sharp pieces when broken which reduces injury risk.
Weakness: Laminated glass is more expensive than ordinary float glass. It also weighs more than ordinary glass which impacts transportation costs.
Opportunity: Growth in construction industry for commercial spaces like offices and buildings is driving the demand. Increase in automotive production also offering opportunities.
Threats: Availability of alternative materials like polymer sheets poses competition. Fluctuations in raw material prices is also a challenge.
Key Takeaways
The Global Laminated Glass Market Size is expected to witness high growth over the forecast period. Asia Pacific region currently dominates the market and is expected to maintain its lead during the forecast period. Growth in construction and automotive industries in China, India, Japan is driving the regional market.
Key players operating in the laminated glass market are Agilent Technologies, Inc., F. Hof, Guardian Industries, Nippon Sheet Glass Co., Ltd., Pittsburgh Glass Works, L.L.C., Saint-Gobain, Vitro Architectural Glass, Xinyi Glass.
The automotive industry accounts for around half of the global laminated glass demand attributed to increasing use of laminated glass in windshields, sidelites, and backlites. Factors like rising vehicle production and safety regulations are propelling the automotive laminated glass market. Moreover, growth in commercial construction is also augmenting the market growth for laminated glass.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
