PUBLISHER: Allied Market Research | PRODUCT CODE: 1239550
PUBLISHER: Allied Market Research | PRODUCT CODE: 1239550
The global laminated glass market was valued at $19.3 billion in 2021, and is projected to reach $34.4 billion by 2031, growing at a CAGR of 6.1% from 2022 to 2031.
Laminated glass, also known as safety glass, is made by bonding layers of glass to the back and front of durable plastic sheets. There is a thin polymer interlayer between its two or more layers of glass, and it is typically formed of polyvinyl butyral (PVB), ethylene-vinyl acetate (EVA), tonoplast polymers, cast in place (CIP) liquid resin, or thermoplastic polyurethane (TPU). The interlayer's tremendous strength prevents the glass from shattering into large, sharp fragments and keeps the glass layers together even when it is fractured. Glass fractures in a distinctive spider web pattern when an impact is not strong enough to completely shatter it.
The rise in demand for renewable and clean energy has increased tremendously over the few decades. Given the growing concern about climate change, the fact that solar power generation offers a clean alternative to electricity produced from fossil fuels, with no risk of electricity price spikes, no air or water pollution, and no risks to public health, is essential. In solar panels, laminated glass is primarily used to shield the photoelectric semiconductor from external factors like dampness. Researchers, scientists, and engineers are constantly producing new ways to develop technology to harness solar energy in the simplest and most efficient way possible.
The growth of new solar technologies will result in an increase in the market for laminated glass in the coming years. Homeowners and business owners are already looking for creative ways to cut costs and improve the environment. Laminated glass installation cuts down on energy wastage. Once deployed, it reduces future costs and money. For instance, Bent Glass Design offers laminated glass for solar panels which consists of several panes of glass linked by an interlayer and is strong, especially in situations when the glass is broken. To improve solar performance for systems with laminated glass, the XIR solar control film is laminated. This form of glass is appropriate for both residential and commercial settings. Greater energy efficiency, UV protection, and better sound absorption are all advantages of laminated safety glass from Bent Glass Design.
Additionally, Eastman Chemical Company has experience designing glazing for sun control using several interlayer materials. To provide solar control, coated glass can be laminated using most Eastman architectural PVB interlayers. Many manufacturers are using laminated glass for their convenience. For instance, Onyx Solar Group LLC manufactures photovoltaic laminated glass available in varying thickness such as 3, 6, 10, 12 and 19 mm. Its photovoltaic laminated glass has earned the UL Listed Mark and has been tested according to IEC standards successfully. The global market for laminated glass has grown enormously due to rising use of solar energy.
The availability of substitutes is one of the restraining factors affecting the growth of laminated glass market. Laminated glass can be replaced with acrylic glass. Acrylic is an organic substance that exists in one continuous form. Both acrylic and laminated glass are transparent building materials with great pressure resistance that are appropriate for applications like aquariums in marine museums and boat windows. Thermal conductivity of acrylic is lower than that of laminated glass. In contrast to laminated glass, acrylic offers more heat insulation.
Additionally, acrylic is the optimum material because of its superior impact resistance, durability, and adaptability. Acrylic is therefore used in deep sea underwater windows. Many manufacturers have marketed their acrylic products in the market. For instance, Plexiglas and Perspex are brands of acrylic glass produced by Hydrosight GmbH. The growth of laminated glass market is hindered to some extent owing to the easy availability of acrylic and its excellent features.
Urbanization has created wonderful opportunities for the expansion of the laminated glass market. According to the United Nations, 70% of the world's population is expected to live in urban areas by 2050. Many rural residents find urbanization appealing because of the numerous opportunities it gives to raise their quality of life. Employment is one factor that encourages individuals from rural areas to urban places. The reduced employment opportunities in rural areas have contributed to this trend. In addition, urban areas are better able to address the needs of the people in terms of health and education, which stimulates migration there. The demand for laminated glass has increased due to increase in urbanization because it is necessary for construction. Therefore, urbanization offers fantastic opportunity for the growth of laminated glass market.
The laminated glass market is segmented into material type, application, end-use industry, and region. By material type, the market is divided into polyvinyl butyral, ethyl vinyl acetate, ionoplast polymer and others (aliphatic TPU). By application, the market is divided into automobile windshields, bank security and ATM booths, jewelry shops, residential buildings, and others (gas stations). By end-use industry, the laminated glass market is classified into building and construction, automotive, solar panels, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global laminated glass market are AGC Inc., Asahi India Glass Limited., Central Glass Co., Ltd., CSG HOLDING CO., LTD., FUSO, Guardian Industries, PRESS GLASS Holding SA, Saint-Gobain S.A., Sisecam and Xinyi Glass Holdings Limited.