Advanced Glass Market

Advanced Glass Market Overview

Advanced Glass market size is forecast to reach US$52 billion by 2027, after growing at a CAGR of 7.2% during 2022-2027, owing to the increasing usage of advanced glass in various end-use industries such as automotive, aerospace, infrastructure, electronics, sports, and more. Advanced glass types such as coated glass, laminated glass, toughened glass, ceramic glass, and tempered glass have distinct benefits including safety, sound reduction, durability, UV control, safety, ease of installation, the versatility of design, and these properties are expected to increase market demand. The rapid growth of the building and construction industry has increased the demand for advanced glass; thereby, fueling the market growth. Furthermore, the flourishing automotive industry is also expected to drive the advanced glass market substantially during the forecast period. Furthermore, it is projected that the bolstering solar energy industry will also contribute towards the advanced glass market growth during the forecast period.

COVID-19 Impact

In 2020, the COVID-19 outbreak had a great impact on the global economy and demand scenario of advanced glass in major industries around the world. The global lockdown and restriction of industrial operations, trade activities, supply-chain disruption, and other activities culminated in the advanced glass market scenario. During this circumstance, the key end industries of advanced glass, such as automotive, construction, aerospace, solar energy, and more were also influenced. The market was impacted by travel restrictions and delays in new automobile manufacturing, lower demand from the aerospace sector, and a temporary halt in construction activities across the world for a few months in 2020. As a result of slow demand from these end-use industries, the growth of the advanced glass market slowed down in 2020. However, the market is recovering, and businesses have resumed operations with reduced capacity and under government guidelines, owing to which all end-use industries were fully operational by the beginning of 2021, resulting in high demand for advanced glass. As a result, the advanced glass market is expected to grow at a rapid rate over the forecast period.

Advanced Glass Market Segment Analysis – By Type

The coated glass segment held the largest share in the advanced glass market in 2021 and is growing at a CAG of 6.7% during 2022-2027, owing to the various advantages that it offers such as reduced radiant heat, better thermal performance, reduced reliance on heating and cooling system, protecting furniture from long term sun damage, reduced condensation, and more. Coated glass can be extremely beneficial for increasing the building’s energy efficiency. Coated glass-based windows keep heat out in the summer and retain heat in buildings during the winter, not only the building more comfortable year-round but also reducing the energy bills. All these extensive characteristics of coated glass are the key factor anticipated to boost the demand for coated glass in various regions during the forecast period.

Advanced Glass Market Segment Analysis – By Application

The safety & security segment held the largest share in the advanced glass market in 2021, owing to the increasing usage of advanced glass for safety and security purposes. In an age where sustainability and durability are highly desirable, advanced glass for home windows is the ideal solution recommended in residential spaces. The advanced processing techniques have made advanced glasses stronger and more durable. Advanced glass is the primary choice for a robust, secure, and convenient medium, from the external façade of the tallest buildings to internal uses in doors, windows, and furniture. Not only does it offer protection against physical intrusion, but can also be used in interiors without breakage or injury. Advanced glass helps to attain the basic requisites of safety and security to make buildings solemnly protected, which is the major driving factor for the advanced glass market during the forecast period.

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Advanced Glass Market Segment Analysis – By End-Use Industry

The electrical & electronics segment held the largest share in the advanced glass market in 2021 and is growing at a CAGR of 7.2% during 2022-2027, owing to the increasing usage of advanced glass such as coated glass, laminated glass, toughened glass, ceramic glass, and tempered glass in the electrical & electronics industry. Advanced glass is largely utilized to make display panels for televisions, computers, and mobile devices in the electronics industry. Because of the increased popularity of portable gadgets, manufacturers have begun to adopt sophisticated glass that does not shatter when dropped. Furthermore, improved glass is being developed for the manufacture of flexible devices such as organic light-emitting diodes (OLEDs). Advanced glasses are exceptionally used in laptops, mobile phones as screen protectors. These glasses are also utilized in making a flat panel display. According to the Government of Canada, revenues in the ICT sector reached an estimated US$210 billion in 2019. ICT sector revenues grew from US$158 billion to US$200 billion from 2013 to 2018, a 26.9 percent increase. Thus, the increasing application of advanced glasses and the expanding ICT market is the major factor driving the demand for advanced glass in the electrical & electronics market during the forecast period.

Advanced Glass Market Segment Analysis – By Geography

Asia-Pacific region held the largest share in the advanced glass market in 2021 up to 41%, owing to the increasing demand for advanced glasses such as coated glass, laminated glass, toughened glass, ceramic glass, and tempered glass from the electrical and electronics industry in the region. The Chinese government is spending considerable effort to support the electronics industry, especially the IC manufacturing and design industry, according to China's National Integrated Circuit Development Promotion Outline. In 2022, the production of ICs in China will accelerate at an annual average rate of over 14 percent. India's contribution to global electronics production has increased from 1.3 percent in 2012 to 3% in 2018, according to Invest India. Moreover, by 2025, India might have a digital economy worth US$800 billion to US$1 trillion, with the digital sector accounting for 18–23% of total economic activity. According to the Japan Electronics and Information Technology Industries Association (JEITA), in December 2019 the production of consumer electronic equipment was at US$356 million and in December 2020 it increased to US$380 million with an increase of 6.8% compared to the year 2019. Thus, with the expanding electronics industry, the demand for advanced glasses will also subsequently increase, which is anticipated to drive the advanced glass market in the APAC region during the forecast period.

Advanced Glass Market Drivers

Increasing Automotive Production

Advanced glasses such as coated glass, laminated glass, toughened glass, ceramic glass, and tempered glass are extensively used in automobiles in the production of windscreens, side windows, roofs, backlights, displays, and more. In addition, advanced glasses are often used to reduce noise and increase thermal comfort in vehicles. According to the International Trade Administration (ITA), China is the world’s largest vehicle market and the Chinese government have projected that automobile manufacturing will reach 35 million by 2025. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), the production of passenger cars in Africa was 776,967 in 2018, which then rose to 787,287 in 2019, an increase of 1.3%. According to the Japan Automobile Manufacturers Association (JAMA), car production in Japan increased in November from 6,67,462 in October to 6,90,311. Thus, increasing automation production will require more advanced glass for manufacturing various automotive components, which will act as a driver for the advanced glass market during the forecast period.

Flourishing Aerospace Industry

Advanced glasses such as coated glass, laminated glass, toughened glass, ceramic glass, and tempered glass have a wide variety of physical qualities that can be tweaked simply during production. In comparison to polymers and traditional aerospace alloys, advanced glasses are appreciated in the aerospace sector for their excellent heat resistance, high strength-to-weight ratio, corrosion resistance, and relatively low production costs. The demand for advanced glasses from the aerospace sector is thus increasing. In 2019, China was the nation's second market for civil aerospace and airline companies, as well as one of the fastest-growing, according to the International Trade Administration (ITA). China is estimated to require around 6,810 new commercial aircraft, valued at US$1 trillion, in 2016, according to Boeing, over the next two decades. By 2030, Boeing's current market outlook forecasts demand for 2,520 new aircraft in the Middle East. According to Boeing India, demand for 2,300 aircraft, worth US$320 billion, is also expected to increase over the next 20 years. Hence, the increasing aviation industry is significantly driving the demand for advanced glass, thereby acting as a driver for the advanced glass market.

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Advanced Glass Market Challenges

Lack of Access and High Cost of Advanced Glass Raw Material

A variety of raw materials are used by different glass sectors and specific factories. The main raw materials are silica sand, soda ash, limestone, feldspar, and dolomite. The scarcity of raw materials such as silica sand and limestone in most regions is the most significant challenge faced by the advanced glass industry. Only a small proportion of the sand deposits available are suitable for manufacturing glass. Only six UK sites, for instance, produce silica glass suitable for the production of flint container glass. Furthermore, the price of raw materials used in the production of advanced glasses is volatile. According to the All India Glass Manufacturers' Federation (AIMGF), between 2014-15 and 2017-18, India's raw material expenses as a proportion of sales revenue climbed by 1.23 percent. These factors are anticipated to pose a significant challenge for the advanced glass market growth.

Advanced Glass Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Advanced Glass market. Advanced Glass market top 10 companies are:

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

Tyneside Safety Glass

Acquisitions/Technology/Product Launches

In July 2019, Sisecam Flat Glass developed Sisecam Extra Strong Laminated Glass which provides advanced safety.

Key Takeaways

Asia-Pacific dominates the advanced glass market, owing to the increasing electrical & electronics industry in the region. According to Invest India, the domestic electronics market in India will attain US$400 billion by 2025.

Advanced glasses such as coated glass, laminated glass, toughened glass, ceramic glass, and tempered glass possess extensive characteristics such as increased security, sound reduction, durability, UV control, safety, installation ease, design versatility, and more. These properties of advanced glass are projected to increase market growth.

In addition, increasing government investments in building and construction projects are further expected to augment the product demand in near future. Furthermore, government regulations requiring the use of energy-efficient products and a desire to use renewable resources are both rigorous are projected to provide lucrative opportunities for the market.

However, high manufacturing costs associated with the fabrication of advanced glasses are likely to restrain the market growth during the forecast period.

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