by The global Laminated Glass Market is estimated to be valued at US$19.3 billion in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Laminated glass is a type of safety glass that is made by sandwiching a layer of polyvinyl butyral (PVB) between two layers of glass. This glass is highly resistant to impact, providing significant safety advantages in various applications. Laminated glass is commonly used in automotive windshields, where it helps prevent shattering during accidents and enhances the structural integrity of the vehicle. It is also used in buildings and construction for its soundproofing and UV protection properties.
Market Key Trends:
The key trend driving the growth of the laminated glass market is the increasing demand for safety and security features in automobiles. With rising concerns for passenger safety and the implementation of stringent regulations, laminated glass is becoming increasingly popular in the automotive industry. It offers enhanced protection against break-ins, reduces the risk of injuries from shattered glass, and provides better sound insulation. Moreover, the increasing adoption of laminated glass in building facades, skylights, and windows for its energy-saving and noise reduction properties is further driving market growth.
PEST Analysis:
Political: The political factors affecting the laminated glass market include government regulations and policies related to safety and building codes. For instance, strict regulations regarding the use of safety glass in automobiles and construction projects can drive the demand for laminated glass.
Economic: The economic factors influencing the market include the overall economic growth, disposable income, and construction activities. With the growing construction industry and increasing disposable income levels, there is a higher demand for laminated glass in residential and commercial buildings.
Social: Social factors influencing the market include changing consumer preferences and increasing awareness about safety measures. Consumers are now more conscious about safety and are inclined towards using laminated glass due to its enhanced strength and resistance to breakage.
Technological: Technological advancements play a significant role in the laminated glass market. Innovations in glass manufacturing technologies, such as interlayer technology and enhanced bonding techniques, have led to the development of laminated glass with improved properties, driving its adoption in various applications.
Key Takeaways:
The Global Laminated Glass Market Growth is expected to witness high, exhibiting a CAGR of 6.1% over the forecast period of 2023-2030. This growth can be attributed to several factors, including the increasing adoption of laminated glass in automotive, construction, and other industries.
In terms of regional analysis, the Asia Pacific region is expected to be the fastest-growing and dominating market for laminated glass. The region’s rapid urbanization, infrastructural development, and growing automotive industry are driving the demand for laminated glass.
Key players operating in the laminated glass market include Asahi India Glass Limited, Central Glass Co., Ltd., CSG Holdings Co., Ltd., Fuyao Group, GUARDIAN GLASS LLC., Nippon Sheet Glass Co. Ltd., Saint-Gobain India Pvt. Ltd., Sisecam Group, Taiwan Glass Ind. Corp., and Xinyi Glass Holdings Co., Ltd. These players have a strong market presence and are actively involved in technological advancements and strategic partnerships to expand their market share.
Overall, the laminated glass market is expected to experience significant growth due to factors such as increasing safety regulations, economic growth, changing consumer preferences, and technological advancements. The Asia Pacific region is anticipated to lead the market, while key players continue to focus on innovation and strategic collaborations to stay competitive.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
