|
Forecast
Period
|
2024-2028
|
|
Market
Size (2022)
|
USD
68.57 billion
|
|
CAGR
(2023-2028)
|
6.02%
|
|
Fastest
Growing Segment
|
Building
& Construction
|
|
Largest
Market
|
Asia
Pacific
|
Market Overview
The
Global Advanced Glass Market was valued at USD 68.57 billion in 2022 and is
growing at a CAGR of 6.02% during the forecast period. The rapid expansion of
the construction industry has led to a surge in demand for advanced glass,
consequently driving global market growth. Moreover, the thriving automotive
sector is expected to further propel market expansion. Additionally, the
growing need for enhanced infrastructure due to rapid urbanization serves as a
catalyst for market growth. Nonetheless, the high costs associated with
installing advanced glass may impede market growth in the near future.
Furthermore, stringent government regulations pertaining to energy-efficient
products and the increasing preference for renewable resources offer promising
opportunities for key players in this industry.
Key Market Drivers
Increasing
Demand for Energy-Efficient Buildings
One
of the key drivers behind the growth of the global advanced glass market is the
increasing demand for energy-efficient buildings. As concerns regarding climate
change and energy conservation continue to gain momentum, there is a
significant push towards constructing environmentally sustainable structures.
Advanced glass plays a pivotal role in achieving this objective by enhancing
the energy performance of buildings.
Energy-efficient
windows and façades are essential components of green building design. Advanced
glass products, such as low-emissivity (low-E) glass, vacuum-insulated glass,
and smart glass, are engineered to improve thermal insulation and reduce heat transfer.
These features contribute to the regulation of indoor temperatures, reduction
in heating and cooling costs, and minimization of the carbon footprint of
buildings.
In
addition to their thermal properties, advanced glass products offer daylighting
benefits as well. Spectrally selective coatings allow natural light to enter
while blocking harmful UV radiation and excessive heat. This not only reduces
the need for artificial lighting but also creates a more comfortable and
productive indoor environment.
Moreover,
advanced glass products often meet or exceed energy efficiency standards and
certifications like LEED (Leadership in Energy and Environmental Design). As
architects, builders, and property owners aim to construct sustainable and
energy-efficient buildings, the demand for advanced glass continues to rise,
driving growth in the global market.
Expanding
Automotive Industry and Technological Advancements
The
global automotive industry plays a significant role in driving the growth of
the advanced glass market. As automakers strive to enhance vehicle safety,
comfort, and aesthetics, advanced glass technologies are becoming increasingly
integral to modern automobiles.
One
key driver within the automotive sector is the growing demand for lightweight
materials to improve fuel efficiency and reduce emissions. Advanced glass
products, including ultra-thin glass and chemically strengthened glass, offer
the advantage of reduced weight without compromising on strength and safety.
Lightweight glass contributes to improved fuel economy and overall vehicle
performance.
Furthermore,
the integration of advanced technologies in vehicles, such as heads-up displays
(HUDs), augmented reality windshields, and advanced driver assistance systems
(ADAS), relies on specialized advanced glass materials. These technologies
enhance the driving experience, improve safety, and provide critical
information to drivers, thus driving the market's growth.
Moreover,
the adoption of electric and autonomous vehicles is rapidly increasing,
presenting new opportunities for advanced glass. Electric vehicles often
require advanced glass solutions to reduce interior noise and improve thermal
management. Autonomous vehicles also benefit from advanced glass technologies
for sensor integration and enhanced communication.
The
ongoing technological advancements in the automotive industry, coupled with
consumer demand for advanced features and aesthetics, are fueling the
widespread use of advanced glass materials in vehicles worldwide.
Growing
Consumer Electronics and Display Markets
The
consumer electronics and display markets are experiencing robust growth, with
advanced glass playing a fundamental role in these industries. This growth is
primarily driven by the increasing adoption of smartphones, tablets,
televisions, and other electronic devices that feature high-resolution displays
and touch-sensitive screens.
A
key driving factor behind the demand for advanced glass in consumer electronics
is the necessity for durable and scratch-resistant surfaces. Advanced glass
products, such as chemically strengthened glass and Gorilla Glass, are utilized
to safeguard delicate electronic displays against scratches, impacts, and
everyday wear and tear.
Furthermore,
advanced glass significantly contributes to enhancing the visual quality of
displays. The preference for ultra-thin glass with high optical transparency
and reduced reflection is evident in touchscreens and high-definition displays.
These characteristics greatly contribute to improved user experiences and the
representation of more vibrant and lifelike images.
Moreover,
the increasing trend towards larger, curved, and flexible displays in
smartphones and televisions has necessitated the use of advanced glass
materials that can bend without compromising structural integrity or display
quality.
As
the consumer electronics and display markets continue to grow, particularly
with the emergence of new technologies like foldable screens and augmented
reality devices, the demand for advanced glass is poised to further expand.
This makes it a significant driver in the global advanced glass market.
Download Free Sample Report
Key Market
Challenges
High
Production Costs and Technological Barriers
One
of the significant challenges faced by the global advanced glass market is the
high production costs associated with manufacturing advanced glass products.
The production of advanced glass often necessitates specialized materials and
complex manufacturing processes, resulting in increased expenses. Additionally,
the incorporation of advanced features such as coatings, smart functionalities,
and energy-efficient properties further contributes to the production cost.
For
instance, the manufacturing of high-performance architectural glass with low
emissivity (low-E) coatings and insulating properties involves vacuum
deposition or sputtering processes, which require costly equipment and
materials. Similarly, the production of advanced automotive glass with features
like HUD (Head-Up Display) technology or integrated sensors demands advanced
manufacturing techniques and materials, thus increasing the overall cost.
Furthermore,
the development of advanced glass products faces technological barriers.
Extensive research and development efforts are crucial to create new materials
and technologies that meet the evolving market demands. Companies must make
significant investments in cutting-edge research to stay competitive, which can
be resource-intensive.
To
address this challenge, companies in the advanced glass industry need to
explore cost-effective manufacturing processes, optimize material sourcing, and
invest in research and development to drive innovation and reduce production
costs. Collaboration with research institutions and government initiatives can
also play a vital role in mitigating these challenges.
Environmental
Concerns and Sustainability
With
the growing global environmental awareness, the advanced glass industry is
compelled to tackle environmental concerns and align with sustainability goals.
The production of advanced glass entails energy-intensive processes, and
certain materials used in coatings and functionalities may have environmental
implications.
One
significant concern revolves around the carbon footprint associated with
manufacturing advanced glass products. The energy-intensive nature of glass
production, particularly for high-performance coatings and smart glass
technologies, can result in substantial greenhouse gas emissions. This raises
inquiries about the sustainability of advanced glass products, particularly in
the context of green building practices and eco-friendly automotive trends.
Another
environmental challenge lies in the disposal of advanced glass products at the
end of their lifecycle. Some advanced glass products contain intricate
materials, coatings, or embedded electronics, thereby rendering recycling or
disposal more challenging compared to traditional glass.
To
address these challenges, the advanced glass industry must prioritize
sustainability in both production and disposal processes. This entails
investing in cleaner and more energy-efficient manufacturing techniques,
reducing waste generation, and exploring recycling methods for advanced glass
products. Collaborating with environmental organizations and adhering to
emerging environmental regulations remains crucial in this endeavor.
Market
Fragmentation and Competitive Pressure
The
global advanced glass market is characterized by a significant degree of market
fragmentation and fierce competition. A multitude of manufacturers, ranging
from large corporations to small enterprises, operate in this sector, offering
a diverse array of advanced glass products for various applications, such as
construction, automotive, electronics, and aerospace.
This
market fragmentation poses challenges in terms of pricing pressure and product
differentiation. Consequently, manufacturers often encounter intense
competition, resulting in narrower profit margins. Moreover, consumers may find
it daunting to navigate through the extensive product offerings, leading to
confusion and potential market inefficiencies.
Furthermore,
the advanced glass market experiences rapid technological advancements and
product innovations. To outperform competitors, companies must engage in continuous
research and development efforts, which may be particularly demanding for
smaller players with limited resources.
To
address these challenges, companies in the advanced glass industry should
distinguish their products through innovation, quality, and unique features.
Strategic partnerships, mergers, and acquisitions can also aid in consolidating
market share and enhancing competitiveness. Additionally, focusing on specific
niche markets or applications can be a viable strategy to avoid direct
competition with larger players and cultivate a loyal customer base.
Key Market Trends
Increasing
Emphasis on Sustainable and Energy-Efficient Solutions
One
of the prominent trends in the global advanced glass market is the increasing
emphasis on sustainability and energy efficiency. This trend is driven by
growing environmental concerns, stringent regulations, and a desire to reduce
energy consumption in buildings and vehicles.
In
the construction sector, advanced glass products are being developed to meet
the demand for green and energy-efficient buildings. Low-emissivity (low-E)
glass, vacuum-insulated glass, and dynamic or smart glass are gaining
popularity due to their ability to enhance thermal insulation, reduce solar
heat gain, and optimize natural lighting. These features contribute to reduced
heating and cooling costs, lower carbon emissions, and improved indoor comfort.
As sustainability certifications like LEED become more prevalent, architects
and builders are specifying advanced glass solutions to meet these
requirements.
Similarly,
in the automotive industry, there is a growing focus on lightweighting to
improve fuel efficiency in traditional vehicles and extend the range of
electric vehicles. Advanced glass materials, such as thin and lightweight
glass, are being used to reduce the overall weight of vehicles while
maintaining safety and durability. This trend aligns with the broader goal of
reducing the environmental impact of transportation.
Furthermore,
advanced glass technologies are being applied to energy-efficient displays and
electronics. The use of chemically strengthened glass in smartphones and
tablets, for example, not only provides durability but also contributes to
sustainability by extending the lifespan of devices and reducing the need for
replacements.
To
capitalize on this trend, manufacturers in the advanced glass market are
investing in research and development to create more sustainable and
energy-efficient solutions. They are also working on recycling and disposal methods
for advanced glass products to minimize environmental impact throughout their
lifecycle.
Integration
of Smart Glass and Advanced Technologies
The
integration of smart glass and advanced technologies represents a significant
trend reshaping the global advanced glass market. Smart glass, also known as
switchable or dynamic glass, possesses the unique capability to adjust its
transparency or color in response to external stimuli, such as electricity,
heat, or light.
Within
the construction industry, smart glass is increasingly employed in
architectural applications, including windows, partitions, and facades. It
enables convenient control of privacy, glare, and heat gain. For instance,
electrochromic windows can automatically tint in response to sunlight, reducing
the need for blinds or curtains and optimizing natural light.
In
the automotive sector, the integration of smart glass into sunroofs and windows
enhances passenger comfort and energy efficiency. Additionally, advanced glass
technologies are utilized in augmented reality windshields and heads-up
displays (HUDs) to project information directly onto the glass, thereby
enhancing driver safety and navigation.
Consumer
electronics are also witnessing the transformational impact of advanced glass
materials through the development of flexible and foldable displays. These
displays utilize flexible glass substrates that can withstand bending without
compromising performance. This trend is revolutionizing the design of
smartphones, tablets, and wearable devices.
Furthermore,
as the Internet of Things (IoT) continues to expand, smart glass is finding its
way into connected homes and smart cities, enabling windows to function as
information displays or interact with other IoT devices.
To
maintain competitiveness in this evolving landscape, manufacturers are
investing in research and development, focusing on creating innovative smart
glass solutions. Collaborations with technology companies are becoming
increasingly prevalent to integrate advanced functionalities into glass
products.
Segmental Insights
Function Insights
The Safety & Security segment holds a significant
market share in the Global Advanced Glass Market. The safety and security
segment plays a vital role in the global advanced glass market by offering
specialized products that enhance protection against various threats. These
threats include break-ins, natural disasters, and even ballistic attacks.
The increasing
concerns about safety and security, both in commercial and residential
settings, have resulted in a growing demand for advanced glass solutions that
provide enhanced protection against forced entry, vandalism, and natural
disasters. The rapid urbanization and concentration of high-value assets in
urban areas have further intensified the need for safety and security
solutions. Commercial buildings, financial institutions, government facilities,
and luxury residences necessitate the use of advanced glass to ensure the
safety of occupants and assets.
The
implementation of stringent building codes and regulations, particularly in
regions prone to earthquakes, hurricanes, or terrorism threats, has made safety
and security glass a mandatory requirement for specific applications. This
regulatory environment drives the demand for advanced glass products that
comply with or exceed safety standards.
Laminated glass,
which consists of multiple layers of glass bonded together with an interlayer,
typically composed of polyvinyl butyral (PVB), is a fundamental product in the
safety and security segment. Laminated glass is highly regarded for its ability
to maintain its structural integrity even when shattered, thus minimizing the
risk of injuries and providing effective protection against forced entry.
Product
Type Insights
The Toughened Glass segment holds a significant market
share in the Global Advanced Glass Market. Also known as tempered glass,
toughened glass is extensively utilized across various applications due to its
enhanced strength, safety features, and resistance to thermal stress. Its
ability to shatter into small, harmless fragments instead of sharp shards when
broken significantly reduces the risk of injury, making it a preferred choice
in architectural and automotive applications.
The construction
industry, in particular, drives the demand for toughened glass, which finds
widespread use in windows, doors, partitions, railings, and facades. With its
optical clarity, it is commonly employed in situations where transparency is
vital.
Moreover,
toughened glass is being integrated with smart glass technologies, allowing for
dynamic, switchable glass products that offer enhanced privacy and sun control
options.
Download Free Sample Report
Regional Insights
The
Asia Pacific region is expected to dominate the market during the forecast
period. The region is currently witnessing an unprecedented wave of
urbanization and construction activities. The rapid growth in population, urban
migration, and the rise of mega-cities have resulted in a significant surge in
the demand for residential, commercial, and infrastructure projects.
Architectural
applications extensively employ advanced glass products, including
energy-efficient windows, facades, and smart glass systems. This growing trend
is primarily driven by the increasing need for sustainable and eco-friendly
buildings that offer enhanced thermal insulation and aesthetic appeal. Notably,
countries such as China and India are playing a pivotal role in this
construction boom, contributing significantly to the demand for advanced glass
solutions.
The
Asia-Pacific region has gained recognition for its remarkable technological
advancements and innovations, which are also reflected in the development of
advanced glass products. Extensive research and development efforts in
countries like Japan and South Korea have led to the creation of cutting-edge
glass technologies, including smart glass, ultra-thin glass, and
high-performance coatings. These innovative solutions cater to the evolving
requirements of the construction, automotive, electronics, and display
industries, thereby driving the widespread adoption of advanced glass.
Manufacturers
in the Asia-Pacific region play a crucial role in the global supply chain for
advanced glass products. Many multinational glass companies have established
production facilities and research centers in this region, facilitating
efficient production and distribution of advanced glass solutions to global
markets.
Recent Developments
- In February
2022, Gauzy, an Israeli glass technology supplier, confirmed the acquisition of
a French business to expand its product offerings and establish itself as a
globally recognized provider of lighting management and filtering system
technologies.
- In November
2021, Fenzi Holdings, an Italian chemical firm specializing in glass
processing, announced the purchase of Johnson Matthey's (JM) Advanced Glass
Technologies (AGT) division. AGT is a leading provider of specialized glass
enamels and precious metal pastes.
- In December
2020, Blackstone Group Inc., a private equity firm based in the United States,
entered into an agreement to acquire Piramal Enterprises Ltd.'s glass business
for USD 1 billion. Piramal Glass manufactures glass containers for the
fragrance, cosmetics, beverages, specialty foods, and medical sectors.
Key Market Players
- AGC Inc.
- Compagnie
de Saint-Gobain S.A.
- Corning
Incorporated
- Fuyao Glass
Industry Group Co. Ltd.
- Gentex
Corporation, Koch Industries Inc.
- Nippon
Sheet Glass Co. Ltd.
- Schott AG
- Xinyi Glass
Holdings Limited
- Murata
Manufacturing Co., Ltd
- American
Precision Glass Corp.
|
By Function
|
By Product Type
|
By End Use Industry
|
By Region
|
- Safety & Security
- Solar Control
- Optics & Lighting
- High Performance
|
- Coated Glass
- Laminated Glass
- Toughened Glass
- Ceramic Glass
|
- Building & Construction
- Aerospace & Defense
- Automotive
- Electronics
- Others
|
- North America
- Europe
- South America
- Middle East & Africa
- Asia Pacific
|
Report
Scope:
In
this report, the Global Advanced Glass Market has been segmented into the following
categories, in addition to the industry trends which have also been detailed
below:
- Global
Advanced Glass Market, By Function:
o
Safety
& Security
o
Solar
Control
o
Optics
& Lighting
o
High
Performance
- Global
Advanced Glass Market, By Product Type:
o
Coated
Glass
o
Laminated
Glass
o
Toughened
Glass
o
Ceramic
Glass
- Global Advanced Glass Market, By End Use Industry:
o
Building
& Construction
o
Aerospace
& Defense
o
Automotive
o
Electronics
o
Others
- Global Hazard Control Market, By
Region:
o
North
America
§ United States
§ Canada
§ Mexico
o Europe
§ France
§ United Kingdom
§ Italy
§ Germany
§ Spain
o
Asia-Pacific
§ China
§ India
§ Japan
§ Australia
§ South Korea
o
South
America
§ Brazil
§ Argentina
§ Colombia
o
Middle
East & Africa
§ South Africa
§ Saudi Arabia
§ UAE
Competitive
Landscape
Company
Profiles: Detailed
analysis of the major companies present in the Global Advanced Glass Market.
Available
Customizations:
Global
Advanced Glass Market report with the given market data, Tech Sci
Research offers customizations according to a company's specific needs. The
following customization options are available for the report:
Company
Information
- Detailed analysis and profiling of
additional market players (up to five).
Global Advanced Glass
Market is an upcoming report to be released soon. If you wish an early delivery
of this report or want to confirm the date of release, please contact us at [email protected]