14-Apr-2022 | Zion Market Research
The global laminated glass market was worth around USD 20,692.10 million in 2021 and is estimated to grow to about USD 29,021.41 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.80 percent over the forecast period. The report analyzes the laminated glass market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the laminated glass market.
Laminated Glass has seen a substantial rise in use in the construction industry owing to its safety and nonshattering properties and this trend is expected to be prevalent over the forecast period as well. Rising concerns for safety and advantages over normal glass have majorly influenced the laminated glass market potential and are expected to continue to do so through 2028.
The use of laminated glass in multiple constructions and building applications is a major driver for market growth through the forecast period. The increasing adoption of laminated glass in the automotive industry is expected to further bolster the demand for laminated glass through the forecast period. Laminated glass manufacturers can focus on this and capitalize on this trend to increase their sales potential and maximize revenue generation across the world.
Increasing demand for infrastructure development and rising use of laminated glass in interior and exterior building and construction activity will also favor the laminated glass market’s potential
However, the high costs of laminated glass as compared to traditional glass will have a negative impact on the laminated glass market potential and will be a major restraining factor for the market throughout the forecast period
The pandemic of 2020 created an unprecedented situation on a global scale that put the world economy in a state of shock and toppled multiple markets including the laminated glass market as well. Drop in construction activity, lack of production capacity, unavailability of raw materials were some major factors that constrained market potential in times of global pandemic under the restrictions of lockdown.
Browse the full “Laminated Glass Market By Interlayer (Polyviny Butyral, lonoplast Polymer, Others) By End-use (Construction, Automobile) and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/laminated-glass-market
However, the laminated glass market is expected to see a steady increase in the growth curve as the pandemic subsides and industrial and construction activities resume. The shortage of laminated glass is expected to be met by an increase in production capacity from multiple laminated glass companies in the post-pandemic era.
The global Laminated Glass market is segregated based on inter layer, end user, and region. Based on end user, the global market is distinguished into construction and automotive. The construction sector dominates the laminated glass market landscape at present and is expected to maintain this stance through 2028. In the meantime, the automotive sector is anticipated to see a hike in demand for laminated glass as the scope of application increases in this industry owing to an increase in demand for safety and nonshattering glass.
Asia Pacific region is will be the most rewarding market for laminated glass companies through the forecast period and will majorly be driven by high construction activity in this region which is a result of increasing demand for infrastructure development. Majorly this is expected to be driven by the nations of India and China who are experiencing a rapid increase in industrialization and urbanization activities that are propelling the demand for the construction industry which subsequently drives demand for laminated glass. Supportive government initiatives to boost construction activities will also play a crucial role in propelling laminated glass market growth over the forecast period.
Key players functioning in the global Laminated Glass market include Saint-Gobain S.A. (France), AGC Inc., (Japan), Nippon Sheet Glass Co. Ltd. (Japan), Central Glass Co. Ltd. (Japan), Sisecam Group (Turkey), Taiwan Glass Industry Corporation (Taiwan), Guardian Industries Corporation (US), Xinyi Glass Holdings Ltd. (China), CGS Holdings Co. Ltd. (China, Fuyao Glass Industry Group Co. Ltd. (China) and Schott AG (Germany)
Global Laminated Glass market is segmented as follows:
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