Market Research Report
Global Advanced Glass Market - 2022-2028
|Global Advanced Glass Market - 2022-2028|
Published: June 3, 2022
Content info: 181 Pages
Delivery time: 2 business days
The global advanced glass market reached US$ XX million in 2021 and is expected to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period 2022-2029.
Glasses used in fire-proofing, impact proofing, glazing, the manufacturing of transparent and semitransparent partitions, the covering of walls and the facing and ornamentation of stairways and other building components are all examples of advanced glass. Advanced glass additionally includes glass tubing and heat- and sound-insulating materials (foam glass, glass wool).
Several types of glass are used in architecture, including window glass, plate glass, thick sheet glass, wire glass, patterned glass, colored glass, shaped glass, glass blocks, insulated glass units, marbled glass, mosaic tiles, uviol glass and stemalit glass.
Global growth in the construction sector is a major market driver for the advanced glass market. Nonetheless, the extremely high cost of these glasses restricts the respective market's growth prospects.
The construction market is growing exponentially due to the growing population, urbanization and globalization. In addition, governments and private bodies are investing extensively in commercial structures such as airports, hotels, museums and hospitals. For instance, in October 2020, the government of Burkina Faso approved a US$139.34 million finance deal for Lot 2A of the new Ouagadougou-Donsin International Airport. Bulgari agreed to develop a new hotel in the center of Rome in July 2020, with an opening date of 2022. The new Roman hotel will be located in central Italy's Piazza Augusto Imperatore. A new museum will open in Berlin in 2025. The museum is estimated to cost roughly US$30.8 million, with the majority of the funds coming from private donations. According to the European government, 40 hospitals will be built between 2020 and 2030.
Since advanced glass could boost the safety of buildings, particularly glasses such as impact-resistant glass and fire-resistant glass and enhance the buildings' aesthetic beauty, the demand for advanced glasses is boosted along with the growth of the construction industry. Similarly, certain fire-resistant glasses quickly become a necessary component of commercial structures since fire-certified glass can minimize sound by up to 47 decibels because of its multi-layered construction, making it ideal for business settings with professionalism and little interruption are essential. Therefore, the advantages of advanced glass in buildings, combined with the construction market's growth, could also propel the global advanced glass market.
Soda ash, iron oxide, limestone, feldspar and other raw materials required to manufacture advanced glass have increased in price in recent years, increasing the price of advanced glass. The trona ore, which develops naturally, is mined for soda ash. The excessive use of trona is limiting soda ash's manufacturing options. The mineral ore trona is suffering due to depleting the earth's natural resources. As trona ore becomes depleted, it impacts the soda ash manufacturing process, raising the cost of the process and, as a result, raising the price of soda ash.
As a result, it could be concluded that the cost of raw materials is constantly increasing or fluctuating due to transportation and logistics, natural resource depletion and more, all of which impact the price of advanced glass. Furthermore, the cost of advanced glass is proportionate to its function and ability to meet building code requirements. It is more expensive because fire-resistant glass is subjected to significant research and testing to guarantee that quality and performance standards are reached. As a result, price volatility and increases in advanced glass raw materials are a vital issue for the industry's manufacturers, limiting market expansion throughout the projection period.
The COVID-19 pandemic affected the advanced glass market primarily due to the implementation of lockdown measures to curb the virus's spread and restrict the movement of products and people. The epidemic has disrupted supply networks, resulting in a significant demand-supply gap due to a lack of raw materials and disrupted manufacturing processes.
Further, the COVID-19 pandemic has impacted the building and construction industry. Construction works have been temporarily halted, postponed, or wholly canceled in several places. Furthermore, the economic slowdown brought on by the COVID-19 epidemic will be a severe impediment to the growth of the fire-resistant glass sector.
However, after the beginning of infrastructure building projects and the stabilization of the economy, demand for fire-rated glass doors and other items is likely to skyrocket.
The global advanced glass market is classified based on function, type, end-user and region.
Because advanced glass is increasingly used for safety and security, the safety and security segment leads the advanced glass market. Advanced glass for home windows is the appropriate solution recommended in domestic spaces in an age where sustainability and durability are highly valued. Advanced processing processes have improved the strength and durability of advanced glasses. From the external facade of the tallest buildings to internal uses in doors, windows and furniture, advanced glass is the leading choice for a sturdy, secure and convenient medium. The primary driving factor for the advanced glass market during the projected period is that advanced glass helps achieve the essential requisites of safety and security to make buildings solemnly protected.
Asia-Pacific accounted for roughly 40% of global advanced glass sales in the last half-decade and is expected to continue in the coming decade. Glass consumption is projected to be driven by rising construction activity and industrial growth in countries such as China and India. Additionally, an increase in people's spending power combined with a shift in material and property preferences would move the business forward.
With a focus on reducing CO2 emissions, nations such as China, India and Japan are substantially investing in the green economy, contributing to the rise of advanced glass sales. For instance, in the environmental goods and services (EGS) sector, Japan is a leader in developing resource-efficient technology and greening buildings.
The global advanced glass market is highly dynamic in terms of global and local producers' numbers and strength. The market is described as fragmented due to the presence of numerous manufacturers such as Advanced Glass & Mirror Inc., Asahi Glass Co., Corning Inc., Fuyao Glass Industry Group Co. Ltd., Huihua Glass Co. Limited, Koch Industries, Nippon Sheet Glass Co. Ltd., Saint Gobain, Sisecam Group and Tyneside Safety Glass. Significant market stakeholders employ market tactics like mergers, acquisitions, product launches, contributions and collaborations to gain competitive advantages and recognition in their respective markets.
Overview: Saint-Gobain S.A. is a multinational corporation based in France, headquartered in La Defense and Courbevoie on the outskirts of Paris, which was founded in 1665. Though it began as a mirror manufacturer, the company has expanded to encompass construction, high-performance and other materials. Saint-Gobain develops, manufactures and distributes construction, mobility and industrial materials and solutions that address public and private building rehabilitation, light construction and the decarbonization of construction and industry through a continuous innovation process, sustainability and performance in everyday life. The company employs 167,552 people and is present in 72 countries.
CONTRAFLAM STRUCTURE Elegance: As the first flush "butt-joint glass solution" without vertical frame profiles reaching EI120, Contraflam Structure sets new norms in the design of transparent fire protection. The product is long-lasting and has a UV stability of more than 2.5 times the standard. The device provides symmetrical butt-joint fire protection for interior and exterior applications. Corners without frame profiles (90°-180°) were evaluated in the product's portrait and landscape applications. Filigran and thinner silicone joints are included in the development, which provide outstanding sound insulation properties.
Vetrotech Saint-Gobain International AG enhanced its advanced glass product offering on July 15, 2020, by adding greater design diversity. CONTRAFLAM STRUCTURE Elegance and CONTRAFLAM STRUCTURE Vibrance will now have a broader range of color fluctuations, more daylight and higher transparency. Saint-Gobain is also expanding its successful CONTRAFLAM STRUCTURE product line with two new design highlights. The new items are expected to provide more design flexibility in both indoor and protected outdoor applications.
The global advanced glass market report would provide approximately 61 tables, 65 figures and almost 181 pages.
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