New York, Sept. 23, 2021 (GLOBE NEWSWIRE) — Advanced Glass Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Advanced Glass Market
Research Report, Product Type, Application, End-Use, and Region — Forecast till 2028” the market is projected to be worth USD 109.89 billion by 2028, registering a CAGR of 9.17% during the forecast period (2021–2028)., The market was valued at USD 63.45 billion in 2021.
Market Competitive Landscape:
List of the key competitors of the global advanced glass market are profiled are as follows:
- American Precision Glass Corp.
- Vuzix
- Thermoseal, Packerland Glass Products
- Saint-Gobain
- Nippon Sheet Glass Co., Ltd,
- SCHOTT AG
- CoorsTek, Inc.
- AGC Inc.
- Corning Incorporation
- Sisecam Group
- GUARDIAN INDUSTRIES
- Murata Manufacturing Co., Ltd
- Atheer, Inc.
- Among others.
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Market USP Covered:
Drivers:
Over the forecast period, demand for advanced glass products is likely to be driven by the desire to provide affordable homes for an ever-increasing population. Another important element supporting the growth of this category is the expanded number of initiatives to build smart cities. For example, the Indian government intends to construct approximately 100 smart cities in the coming years.
Restraints:
The market is expected to be hindered by an increase in the cost of advanced glass as a result of the widening supply-demand gap and the inconsistent availability of raw materials. The increase in raw material prices is expected to limit the advanced glass market growth in the coming years.
COVID-19 Analysis:
The outbreak of the global covid-19 pandemic has created a gap in the supply chain across the globe. Manufacturing of different consumer items and other commodities has come to a halt worldwide due to a lack of raw materials, a workforce shortage, and other factors. This is predicted to have a negative impact on the advanced glass market growth.
Browse In-depth Market Research Report (185 pages) on Advanced Glass
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Market Segmentation:
The segmentation of the global advanced glass market is done by product type, end-use industry, and application. By product type, the market is dominated by the coated glass segment. The growing popularity of Low-E coated glass products, particularly in commercial buildings, is expected to drive its expansion in the near future.
By end-use, the residential construction segment is accountable for a higher advanced glass market share.
By application, the safety & security segment accounted for the largest proportion of the advanced glass market by function. On the other hand, the solar control segment is predicted to develop the fastest during the projection period because of the benefits of utilizing specialized glass to manage heat.
Regional Insights:
During the forecast period, Asia-Pacific is expected to have the largest global advanced glass market share. This region’s developing countries, especially China, India, Taiwan, and Myanmar, progressively embrace the most recent automotive models. As a result of the increased production of advanced glass due to its high consumption in the region, the advanced glass market size is predicted to rise throughout the forecast period.
Following North America, Europe is a significant market in the international advanced glass market. The use of advanced glass in a variety of applications ranging from electronics to automobiles drives the product’s demand in this region. Vehicle safety, anti-shattering, and UV protection films are also projected to drive the advanced glass market over the forecast period.
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The advanced glass market share of Latin America, the Middle East, and Africa is expected to grow moderately during the forecast period, owing to the rise of end-use industries such as electronics and automotive production facilities and the growing demand for advanced glass from the construction industry.
Segmentation of Market covered in the research:
Advanced Glass Market Research Report: By Product Type (Laminated Glass, Tempered Glass, Ceramic Glass, and Others), by Application (Solar Control, Safety & Security, Optics & Lighting, High Performance, and Others), by End-Use Industry (Construction, Infrastructure, Automobiles, Electronics, and Others), and by Region (North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa) — Forecast till 2028
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end-users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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