Glass Alternative Material Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Glass Alternative Material Market Trends and Forecast

The future of the glass alternative material market looks promising with opportunities in visual application, automotive, electronic, construction, medical device, aviation, and energy applications. The global glass alternative material market is expected to reach an estimated $13.1 billion by 2028 with a CAGR of 6.2% from 2023 to 2028. The major drivers for this market are rising popularity of acrylic as a glass substitute owing to its vast availability, appealing optical clarity, simplicity of machining, and a variety of colors and a growing number of newly constructed buildings and renovation of old commercial structures.

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Glass Alternative Material Market by Segment

The study includes trends and forecast for the global glass alternative material market by product type, light transmission, application, and region, as follows:

Glass Alternative Material Market by Product Type [Value ($B) Shipment Analysis from 2017 to 2028]:

• Polycarbonate
• Transparent Wood
• Others

Glass Alternative Material Market by Light Transmission [Value ($B) Shipment Analysis from 2017 to 2028]:

• Up to 80%
• >80%-90%
• >90%

Glass Alternative Material Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:

• Visual Application
• Automotive
• Electronics
• Construction
• Medical Devices
• Aviation
• Energy
• Others

Glass Alternative Material Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Glass Alternative Material Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, glass alternative material companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the glass alternative material companies profiled in this report include:

• Covestro
• Trinseo
• Mitsubishi Gas Chemical
• Evonik Industries
• 3A Composites

Glass Alternative Material Market Insights

• Lucintel forecasts that polycarbonate will remain the larger product type segment over the forecast period due to the substantial use of these materials in building elements, including doors, windows, inner walls, living room partitions, and various architectural projects.
• Construction is expected to witness the highest growth over the forecast period due to rapid urbanization, increasing number of commercial building development and refurbishment projects, and growing popularity of single family homes across the globe.
• APAC is expected to witness the highest growth over the forecast period due to the rising level of disposable income of the population, ongoing infrastructural development, and significant potential for the leading manufacturers in the developing economies in India and China.

Features of the Glass Alternative Material Market

• Market Size Estimates: Glass alternative material market size estimation in terms of value ($B)
• Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis: Glass alternative material market size by various segments, such as by product type, light transmission, application, and region
• Regional Analysis: Glass alternative material market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different product types, light transmissions, applications, and regions for the glass alternative material market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the glass alternative material market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

• Q1. What is the glass alternative material market size?
• Answer: The global glass alternative material market is expected to reach an estimated $13.1 billion by 2028.
• Q2. What is the growth forecast for glass alternative material market?
• Answer: The global glass alternative material market is expected to grow with a CAGR of 6.2% from 2023 to 2028.
• Q3. What are the major drivers influencing the growth of the glass alternative material market?
• Answer: The major drivers for this market are rising popularity of acrylic as a glass substitute owing to its vast availability, appealing optical clarity, simplicity of machining, and a variety of colors and growing number of newly constructed buildings and renovation of old commercial structures.
• Q4. What are the major segments for glass alternative material market?
• Answer: The future of the glass alternative material market looks promising with opportunities in the visual application, automotive, electronic, construction, medical device, aviation, and energy applications.
• Q5. Who are the key glass alternative material companies?
• Answer: Some of the key glass alternative material companies are as follows:
  • Covestro
  • Trinseo
  • Mitsubishi Gas Chemical
  • Evonik Industries
  • 3A Composites
• Q6. Which glass alternative material segment will be the largest in future?
• Answer: Lucintel forecasts that polycarbonate will remain the larger product type segment over the forecast period due to the substantial use of these materials in building elements, including doors, windows, inner walls, living room partitions, and various architectural projects.
• Q7. In glass alternative material market, which region is expected to be the largest in next 5 years?
• Answer: APAC is expected to witness the highest growth over the forecast period due to the rising level of disposable income of population, ongoing infrastructural development, and significant potential for the leading manufacturers in the developing economies in India and China.
• Q8. Do we receive customization in this report?
• Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the global glass alternative material market by product type (polycarbonate, transparent wood, and others), light transmission (up to 80%, >80%-90%, and >90%), application (visual application, automotive, electronic, construction, medical devices, aviation, energy, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?