Advanced Glass Global Market Report 2024

The advanced glass market size has grown strongly in recent years. It will grow from $64.84 billion in 2023 to $70.46 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historical period can be attributed to a heightened emphasis on energy efficiency, the expansion of the automotive industry, increased application of advanced glass in solar energy, adherence to government regulations and standards, consumer preferences for aesthetically pleasing products, and growing concerns about safety and security.

The advanced glass market size is expected to see strong growth in the next few years. It will grow to $94.89 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to the increasing popularity of electric vehicles, global initiatives for energy conservation, heightened concerns for health and safety in public spaces, a demand for high-performance displays, and the promotion of circular economy initiatives. Major trends in the forecast period include innovations in coated glass technologies, advancements in lightweight automotive glazing, the development of sustainable and recyclable glass solutions, integration of augmented reality in glass manufacturing, and progress in glass nanotechnology.

The anticipated growth in green buildings is poised to significantly drive the expansion of the advanced glass market in the foreseeable future. Green buildings, designed and constructed to sustain or enhance the quality of life in their surroundings, can greatly benefit from advanced architectural glass. This specialized glass can aid building projects in obtaining credit points across six Leadership in Energy and Environmental Design (LEED) categories. Its utilization within green buildings contributes to a simultaneous reduction in energy consumption for heating, cooling, and artificial lighting. Illustrating this trend, the US Green Building Council (USGBC) reported in January 2023 that over 100,000 Leadership in Energy and Environmental Design (LEED)-certified projects, covering more than 11 billion gross square feet, have received approval globally. Additionally, in the US, over 5,000 more projects were LEED certified in Q3 2022, with an additional 8,800 project registrations made in 2022. Hence, the proliferation of green buildings serves as a key driver propelling the advanced glass market.

The burgeoning automotive industry is also expected to play a pivotal role in propelling the growth of the advanced glass market in the coming years. This industry, comprising various entities involved in the design, development, manufacturing, marketing, sale, and maintenance of motor vehicles, stands to benefit significantly from advanced glass technologies. Advanced glass materials contribute substantially to the automotive sector by enhancing safety, comfort, and overall vehicle performance. For instance, according to a report by the European Automobile Manufacturers' Association (ACEA) in May 2023, global motor vehicle production reached 85.4 million units in 2022, indicating a 5.7% increase from the previous year. Furthermore, data from the International Organization of Motor Vehicle Manufacturers, a trade association spanning 36 nations, showcased a rise in total car and commercial vehicle production from 80,145,988 units in 2021 to 85,016,728 units in 2022. Consequently, the robust growth of the automotive industry serves as a driving force behind the expansion of the advanced glass market.

The stringent safety standards imposed on architectural glazing materials represent a significant constraint affecting the global advanced glass market. Within the architectural sector, stringent regulations and standards pertaining to glass used in building construction mandate specific types, thicknesses, and strengths for various applications. Manufacturers of advanced glass are required to allocate substantial resources towards rigorous testing and certification procedures to ensure adherence to safety standards. This adherence often leads to increased production costs and extended time-to-market for these specialized glass products. For instance, the International Code Council released the latest version of the International Building Code (IBC) in September 2021, addressing health and safety concerns for different building structures. Chapter 24 of the IBC outlines regulations governing glass and glazing installations in buildings, including their use in guards, handrails, and protection against wind, snow, and other loads. Consequently, the stringent safety standards for architectural glazing materials are projected to negatively impact the advanced glass market moving forward.

Prominent companies within the advanced glass market are directing their efforts towards developing innovative products tailored to meet the demands of their existing consumer base. One such focus involves the creation of bullet-resistant and forced entry protection glass, designed to address safety and security needs comprehensively. This specialized type of glass is crafted with multiple layers and a plastic interlayer, intended to withstand bullets and resist forced entry attempts. For example, in October 2021, Thompson Innovative Glass, a US-based premier glass fabrication provider, introduced the Defender line of bullet-resistant and forced entry protection glass. This glass series offers various options and has undergone rigorous testing to withstand intense physical assaults. The Defender BR-rated products have been independently tested to exceed UL safety code standards, providing crucial time for response during emergencies. Additionally, when utilized as an external treatment, it offers added protection against severe weather conditions.

In May 2022, M3 Glass Technologies Inc., a prominent US-based manufacturer specializing in laminated and insulated glass, completed the acquisition of Thermotec Glass for an undisclosed sum. This strategic acquisition is poised to empower M3 Glass in broadening its portfolio of glass products, establishing a more comprehensive offering that aims to provide clients with an integrated 'one-stop shop' experience for both interior and exterior glass needs. Furthermore, through this acquisition, M3 Glass is set to enhance its endeavors in constructing an advanced commercial insulated glass line. Thermotec Glass, the acquired company, operates as a US-based manufacturer and wholesaler, focusing on producing insulated and tempered safety glass units.

Major companies operating in the advanced glass market report are Saint-Gobain S.A., PPG Industries Inc, Kyocera Corporation, AGC Inc., Corning Inc., Hoya Corporation, Guardian Industries LLC, Fuyao Glass Industry Group Co. Ltd., Xinyi Glass Holdings Limited, Schott AG, Vitro S.A.B. de C.V., Gentex Corporation, Central Glass Co., Ferro Corporation, China Glass Holdings Limited, Cardinal Glass Industries, Sisecam Group, Ohara Corporation, Technical Glass Products Inc., Euroglas GmbH, Abrisa Technologies Inc., Sumita Optical Glass Inc., Tyneside Safety Glass Company Limited, Vuzix Corporation, Accuratus Corporation, Advanced Glass & Mirror Corp, American Precision Glass Corp., Pegasus Glassworks Inc, Nippon Sheet Glass Co., Glaston Corporation.

North America was the largest region in the advanced glass market in 2023. The regions covered in the advanced glass market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the advanced glass market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The advanced glass market consists of sales of smart glasses, nanochannel glass, security glass, bioactive glass, self-cleaning glass, and ultra-thin glass. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The key categories of advanced glass include laminated glass, tempered glass, ceramic glass, and others. Laminated glass, a variant of safety glass, features a plastic layer wedged between multiple glass layers. Applications span solar control, safety and security, optics and lighting, and high-performance functions, finding utility in construction, infrastructure, automotive, electronics, and various sectors.

The advanced glass market research report is one of a series of new reports that provides advanced glass market statistics, including advanced glass industry global market size, regional shares, competitors with a advanced glass market share, detailed advanced glass market segments, market trends and opportunities, and any further data you may need to thrive in the advanced glass industry. This advanced glass market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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