The laminated glass market is estimated to be valued at US$ 23,997.84 Mn or 23.997 billion in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Laminated glass consists of two or more pieces of glass bonded together using polyvinyl butyral (PVB) interlayer. It offers improved safety and security over standard annealed or tempered glass as, in the event of breakage, the pieces of the glass tend to stick together rather than shatter. It is commonly used as safety glass where strength and impact resistance are required such as in windshields, partitions, architectural glass, doors and windows. Its lightweight and durability make it ideal for safety applications in various industries like automotive, construction and railways.
Market Dynamics:
Increasing demand from the automotive industry: Laminated glass is widely used in windshields, backlites, and sidelites of automobiles due to its safety and security features. With the increasing automotive production globally, especially in Asia Pacific, the demand for laminated glass is also expected to rise substantially over the forecast period.
Rising construction activities: Growth in construction sector has significantly boosted the demand for laminated glass in building facades, roofing, doors & windows etc. Stringent regulations regarding usage of safety glass and high adoption of Green building concepts are some of the major factors driving its consumption in construction industry.
Segment Analysis
The laminated glass market can be segmented into interlayer type and end use. Based on interlayer type, the polyvinyl butyral (PVB) interlayer dominates the market as it provides advantages such as optical clarity and sound insulation along with safety features. In terms of end use, the building & construction segment dominates the market due to high usage of laminated glass in windows, doors, partitions, and facades applications in both residential and commercial buildings to provide security & safety benefits.
PEST Analysis
Political: Stringent safety regulations regarding installation of safety glass in high risk areas such as public transports will drive the market.
Economic: Rising construction spending on commercial and residential infrastructure development globally is expected to propel the market growth.
Social: Increasing consumer awareness about safety benefits of laminated glasses is a key factor.
Technological: Development of advanced interlayer materials such as ionoplast polymer is estimated to provide new opportunities over the forecast period.
Key Takeaways
The Global Laminated Glass Market is expected to witness high growth, exhibiting CAGR of 5.7% over the forecast period, due to increasing demand from construction industry. The market size for 2023 is US$ 23997.84 Mn.
Regional analysis
Asia Pacific dominates the global market and is expected to maintain its lead over 2023-2030 period as well attributed to rapid growth of construction activities in emerging countries such as China and India.
Key players analysis
Key players operating in the laminated glass market include Xinyi Glass, Flat Glass Group, AGC Inc., Cardinal Glass Industries, Inc, Fuyao Group, CSG Holding, Central Glass Co., Ltd., Fuso Glass India Pvt. Ltd., Shanghai Yaohua Pilkington Glass, Guardian Industries, NSG Group, Schott AG, Vitro, S.A.B. de C.V., China Luoyang Float Glass Group Co., Ltd., Arnold Glas Corporation, Saint-Gobain.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it