Global Advanced Glass Market Set to Garner $20.56 Billion by 2026 | CAGR: 7.2% - Research Dive
PUNE, India, March 25, 2020 /PRNewswire/ -- The global advanced glass market is projected to reach $20.56 billion in 2026 and expected to grow at a CAGR of 7.2% from 2019 to 2026, reveals a recent research report published by Research Dive. This report is a professional and comprehensive research of the global advanced glass industry based on the regional market conditions, key driving factors, top competitors, and size & scope of the market. Furthermore, the report offers a quantitative analysis from 2019 to 2026 which allows the stakeholders, investors, and market players to capitalize on the predominant market opportunities.
Key driving factors of Advanced Glass Market:
As per the report, rising applications of advanced glass into construction sector is one the major factors fueling the demand for advanced glass all across the world. The fascinating features of advance glass such as security, noise cancellation, UV control, and sound reduction are some other factors boosting the growth of the advanced glass market during the estimated period. Furthermore, growing usage of advanced glass in the automobile sector along with recent inventions in electronic gadgets, home appliances, and smartphones' screen protector are expected to drive the demand for advanced glass in the upcoming years.
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Many glass industries are now concentrating on cost-effective technologies that can increase energy efficacy and productivity of advanced glass market. On the other hand, newly discovered advanced glass market trends such as thin glass, smart glass, security glass, bioactive glass, nano channel glass, and self-cleaning glass are likely to open up new opportunities for the growth of the market.
Laminated segment to be at the foremost during the estimated period
Based on product type, the report divides the market into coated glass, laminated glass, toughened glass, and ceramic glass. Among these, the laminated glass segment is expected to dominate the market by garnering a revenue of $26,522.5 million by 2026. This is mainly due to widespread applications of laminated glass in construction projects because of its properties such as strength, binding power, and durability.
Building & construction segment to rule the market throughout the forecast period
By application, the report classifies the market into automotive, aerospace & defense, building & construction, electronics, optical, sports & leisure, and others. Among these, the building & construction segment is expected to lead the market by collecting a revenue of $21,019.5 million by 2026. This is mainly attributed to the tremendous growth in the development of energy efficient buildings, green constructions, growing population, and increased revenues of people are estimated to fuel the growth of building construction segment of advanced glass market.
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Asia-Pacific to grab major share of the market
Regionally, the report evaluates the market across North America, Europe, Asia-Pacific, and LAMEA. Among these, Asia-Pacific region is expected to collect a revenue of $30,250.1 million by 2026. This is mainly due to the growing demand for integrated advanced glass in countries such as China, Malaysia, and India. Whereas, growing emphasis of green buildings and rapid improvements in the real estate sector in developing countries is expected to offer substantial growth for advanced glass market. Also, growing investments by market players is estimated to offer rewarding opportunities for the market growth.
Top Players Functioning In The Global Advanced Glass Market Are:
1. Advanced Glass & Mirror, Inc
2. Asahi Glass Co
3. PPG Industries
4. Sherwin Williams Company
5. Saint Gobain
6. Nippon Sheet Glass Co. Ltd.
7. Sisecam Group
8. Guardian Industries
9. Corning Inc
These players are undertaking various activities such as partnerships, new developments, and merges & collaborations to obtain a strong position in the global industry. For example, Nippon Sheet Glass Co. Ltd. has increased its manufacturing capacity of the coated glass to support the market of solar energy.
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