Advanced Glass Market Size, Share Global Analysis Report, 2022 – 2030

Industry Insights

[212+ Pages Report] According to the report published by Facts Factors, the global advanced glass market size was worth around USD 67 billion in 2021 and is predicted to grow to around USD 135 billion by 2030 with a compound annual growth rate (CAGR) of roughly 8.12% between 2022 and 2030. The report analyzes the global advanced glass market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the advanced glass market.

Market Overview

Advanced glass is the higher version of regular and conventional glass. The upgraded versions are better suited for modern-day applications and make use of digital technology to provide better services to the end users. Regular glass is a transparent amorphous solid which is non-crystalline. It has various decorative, protective, technical, and practical applications. In the same way, advanced glass has various applications but provides better results and can be used for its additional features.

Advanced glasses are designed keeping the end outcome in perspective and their features can be modified accordingly. Different types of materials are used to manufacture advanced glass including natural gas and silica. These raw materials are made to undergo various mechanical and chemical processes to deliver the expected results. With applications ranging from protection to smart devices like phones to being used for military purposes, the global market for advanced glass is showing exceptional signs of growth in the coming years. Multiple factors are projected to become the leading reasons for the market registering surging revenue.

Key Insights

• As per the analysis shared by our research analyst, the global advanced glass market is estimated to grow annually at a CAGR of around 8.12% over the forecast period (2022-2030)
• In terms of revenue, the global advanced glass market size was valued at around USD 67 billion in 2021 and is projected to reach USD 135 billion, by 2030.
• The market is projected to grow at a significant rate due to rapid urbanization across the globe
• Based on product type segmentation, toughened glass was predicted to show maximum market share in the year 2021
• Based on application segmentation, building & construction was the leading application in 2021
• On the basis of region, North America was the leading revenue generator in 2021

Growth Drivers

• Rapid urbanization to propel market demand

The global advanced glass market is projected to grow owing to the rapidly expanding urbanization activities across the globe. Advanced glass is becoming a preferred choice amongst building and construction players that make use of the advantages offered by higher-grade versions of glass in modern homes. Glass is an extremely integral part of modern housing and commercial units. They are used for windows, walls, and in the form of decorative items to name a few of such applications. Conventional glass does not offer the quality that advanced glasses can provide.

For instance, traditional glass may lack anti-glare properties which is a major concern in the construction industry. Excess brightness can cause strain on the eyes and discomfort and hence it's important that glasses transmit only the light necessary to clearly see across the glass unit. In the growing investments for urban regions, business players are focusing on objects and systems that can help save energy and advanced glasses can play a crucial role in achieving this goal. Technologically advanced glasses can manage energy consumption patterns by contributing to heat loss. This helps in reducing carbon dioxide (CO2) emissions and aids in the maintenance of interior temperature reducing the extra cost of using air conditioners or heaters.

Restraints

• High cost of final goods to restrict market expansion

Advanced glasses have not gained the same market share as traditional glasses because they have been in existence for a longer time. The global market growth could further be restricted due to the current high cost associated with the use and maintenance of advanced glass. There are multiple domestic, regional, and international manufacturers and suppliers of conventional glass globally but the number of players in the advanced glass segment currently ranges in limited numbers which adds to the total cost of product manufacturing. The price range starts at over USD 100 per square foot in the advanced glass segment.

Opportunities

• Increasing research & development in the automobile segment to provide growth opportunities

The automobile industry is one of the leading consumers of advanced glass which could further be propelled due to the increasing investments in the research & innovation activities undertaken by the industrial players. Vehicle manufacturers, driven by competition, understand the importance of every small aspect of a vehicle and hence there has been a growth in resource investment to provide excellent products and services to consumers. For instance, in 2014, BMW, a leading luxury car manufacturer, announced that it was experimenting with Google Glass to confirm if the technology was effective as it was claimed and if it contributed to the overall efficiency improvement of the manufacturing process.

Challenges

• Lack of awareness to act as a major challenge

One of the major challenges faced by the global market players is the lack of awareness amongst many businesses and end-user players about the correct knowledge of advanced glasses and their advantages. This is especially applicable to consumers in underdeveloped economies as they continue to use traditional glass for various purposes. Market players will have to use robust strategies to penetrate such regions for higher impact.

Segmentation Analysis

The global advanced glass market is segmented based on product type, function, application, and region

Based on product type, the global market divisions are coated glass, laminated glass, toughened glass, and ceramic glass. In 2021, the global market registered the highest growth in the toughened glass segment driven by greater applications of the product in producing high-grade furniture as well as a higher adoption rate for mobile accessory production. A toughened glass is produced by using various chemical and thermal processes on annealed glass and the end product is known to exhibit many qualities like added strength, resistance to thermal breakage, and resilience. The tempered glass segment may grow at a CAGR of 5.9% by 2030.

Based on application, the global market divisions are automotive, aerospace & defense, building & construction, electronics, and others. The highest CAGR was registered by the building & construction segment driven by the increasing preference of segment players toward advanced glass as compared to conventional glass for producing building structures. The segmental growth could be further propelled by growing knowledge amongst homeowners and commercial unit builders about the benefits of advanced glass. The construction industry is projected to grow at a CAGR of 12% by 2030.

Recent Developments:

• In September 2022, Saint-Gobain, a French multinational corporation, announced the launch of ORAE. It is the world’s only low-carbon glass as it does not contribute to a higher global carbon footprint
• In May 2022, Saint-Gobain inaugurated a new glass production facility in Chennai, India. The unit will focus on the manufacturing of glasses for electric vehicles and solar panels

Report Scope

Regional Analysis

• North America to register highest CAGR during the forecast period

The global advanced glass market is projected to register the highest growth in North America due to a higher awareness rate amongst the end-user verticals and a greater product adoption rate. The US and the Canadian governments have been working consistently to reduce the regional carbon footprint as a consequence of the operational activities of businesses in the region. Microsoft, a leading technology company in the US, is known to emit more than 14 million tons of carbon every year. The government has imposed severe restrictions and regulatory measures holding companies responsible for the impact on the environment.

The growing concerns over CO2 emissions could lead to more players adopting advanced glasses in building infrastructure. As estimated, more than 75.1% of CO2 gasses emitted globally are from modern cities and over 39.9% of global carbon emissions are from the building sector. Growth in the Middle East could be driven by increasing investments toward making countries like the United Arab Emirates a smart region with advanced systems.

Competitive Analysis

• Asahi Glass Co. Ltd. 
• Saint-Gobain Glass 
• Corning Inc. 
• Guardian Industries 
• Sisecam Group 
• Nippon Sheet Glass Co. Ltd. 
• PPG Industries Inc. 

The global advanced glass market is segmented as follows:

By Product Type Segment Analysis

• Coated Glass
• Laminated Glass
• Toughened Glass
• Ceramic Glass

By Function Segment Analysis

• Optics & Lightning
• High Performance
• Security

By Application Segment Analysis

• Automotive
• Aerospace & Defence
• Building & Construction
• Electronics
• Others

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America