What is the future of Advanced Glass Market? Know Covid Impact on Size, Share & Forecasts
It was estimated prior to this unanticipated outbreak that the Advanced Glass Market was expected to grow at a CAGR of 9.8% during the forecast period.
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Advanced Glass Market .
It was estimated prior to this unanticipated outbreak that the Advanced Glass Market was expected to grow at a CAGR of 9.8% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Advanced glass are special and unique grades of glass having specific characteristics and properties designed for specific end use. In order to improve durability, strength, and aesthetic appearance these glasses undergo specialized chemical and mechanical process. Advanced glass can be categorized into laminated glass, coated glass, toughened glass and others. These glasses find applications in various industries including commercial construction, residential construction, infrastructure, automotive, electronics, sports, and leisure. On the basis of function type, advance glass can be categorized into safety & security, solar control, optics & lighting, high performance, and others.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the type, the market is segmented as laminated glass, coated glass, toughened glass, and others. The laminated glass segment dominated the market in 2019, and is expected to maintain its position during the forecast period as well. The expanding construction industry and rising disposable income of consumers are the major factors behind the dominance of the segment.
Based on the end-use industry type, the advanced glass market is segmented as commercial construction, residential construction, infrastructure, automotive, electronics, sports, leisure, and others. The commercial construction segment holds the largest share of the market and is also expected to witness a healthy growth during the forecast period. Revival of the construction industry from subprime crises and euro-debt crises along with significant economic development in the Asia-Pacific region is the major factor driving the growth of the entire construction industry.
In terms of regions, North America is estimated to be the largest market for advanced glass during the forecast period. Significant demand from various end-use industries and presence of major players in the region are the major factors behind the dominance of the region in the global advanced glass market. Asia-Pacific is expected to witness high growth during the forecast period. China, Japan, South Korea, and India are the driving force of the region's market.
Key Players:
Some of the major suppliers of advanced glass are Pittsburgh Plate Glass Industries, Asahi Glass Co., Saint Gobain, Corning Inc., Nippon Sheet Glass Co., Ltd., Guardian Industries, Sisecam Group, Xinyi Glass Holdings Limited, Fuyao Glass Industry Group Co., Ltd., and Gentex Corporation.