Growing smartphones, higher car sales present bullish advanced glass biz

7:37 AM, 19th January 2021
Expanding penetration of smartphones and an upsurge in manufacturing of cars present a bullish business outlook, with the advanced glass market size to surpass $110 billion by 2024.

With glass playing a valuable role in a myriad of applications, including automotive, construction, gadgets and hospitals, advanced glass market share is touted to gain a notable uptick. Advances will continue to be witnessed in glass industry, helping stakeholders gain a competitive edge in the landscape.

The application of advanced glass has become pivotal given that the material is poised to provide unparalleled opportunities for industry players and other stakeholders in the market. Expanding penetration of smartphone and an upsurge in manufacturing of cars present bullish business outlook. Global Market Insights Inc has projected advanced glass market size to surpass $110 billion by 2024.

The follow market dynamics will help advanced glass companies build strategies and turn industry-specific trends into actionable opportunities for growth:

Trends in automotive industry for windshield

With the automotive industry witnessing technological advancements to offer better driving experience, automotive glassmakers are infusing funds in advanced glass for comfort, efficiency, safety and automobile performance.

Giving rise to tremendous possibilities, wiper-free windshields have come to the fore as automotive glassmakers continue to apply high-frequency sound waves to the glass surface. Besides, gorilla glass has taken the automotive industry by storm as it has creeped into the windshield of cars. Gorilla glass can resist impacts from gravel, stones and hailstones and can boost fuel-efficiency and reduce harmful CO2 emissions.

Technological advancements in advanced glass industry are likely to take the experience of driving cars to a new level. For instance, laminated glass has made its mark in windshield application given that it enhances driver vision during hostile climate. Laminated glass in automotive windshield application is likely to expand a robust CAGR of around 6.5 percent through 2024.

Regional growth drivers of advanced glass market report are

  • Growth in energy efficient building projects
  • Growth in passenger and commercial vehicle production in Europe
  • Increase use of glass in building facades along with growth in construction projects in Europe.
  • Increase in infrastructure spending
  • Rise in automobile sales along with increase in vehicle manufacturing capacities
  • Growth Acceleration Program in construction and transportation sectors in Brazil
  • Government support on recycling of used glass

Investment in Low E coated glass to drive growth

Glass makers are expected to infuse funds in low emissivity coated glass which offers high strength and does not get fragmented into pieces in case of accidents. Notably, low E provides low surface emissivity, re-radiates and absorbs less light and heat, making it ideal for automotive windscreen applications. Low emissivity coated glass market for automotive windshield application is likely to attract $3.2 billion by 2024.

Product portfolio expansion in the US, Canada and Mexico will potentially spur North America glass market revenue. A transition towards adoption of environmentally friendly and recyclable materials, natural insulation and environmental protection in the buildings is likely to bolster the position of North America in advanced glass market. North America advanced glass size is expected exceed 2 billion square meters during the assessment period 2017-2024. 

Potential restraints

Some of the factors such as high cost and demand supply imbalance of raw materials and processing cost may derail the industry growth.

Some of the leading companies profiled in the advanced glass market report are Sisecam Group, Guardian Industries, NSG, Glaze-Tech Industries, PPG Industries, among several others. In a bid to expand their footfall, these companies are expected to adopt business strategies, including mergers & acquisitions and product roll outs.

Browse key industry insights spread across 950 pages with 2,216 market data tables & 18 figures & charts from the report, “Advanced Glass market size by product, industry analysis report, regional outlook, application development potential, price trend, competitive market share & forecast, 2017 – 2024” in detail along with the table of contents: https://www.gminsights.com/request-sample/detail/2394  

© Worldofchemicals News

Contact Info:

Arun Hegde
Corporate Sales, USA
Global Market Insights Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Website: https://www.gminsights.com

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