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 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 is a glass that is held together by a polymer and does not shatter even if damaged and this makes it a highly safe option to regular glass which shatters and the shattered shards are dangerous and can even prove to be the cause of major fatal wounds. Increasing focus on safety in the construction industry has bolstered the demand for laminated glass, and this trend will be prevalent over the forecast period.
Increasing demand from construction and automotive industries, rising popularity among constructors, increasing scope of use on exterior and interior applications are some factors that propel laminated glass market growth through 2028.
However, high costs of laminated glass are expected to be a major barrier to laminated glass market growth and this is expected to especially restrain market potential in emerging economies with less spending potential.
The COVID-19 pandemic restricted industrial activity on a global scale and had a negative impact on multiple markets and led to a downfall of the laminated glass market as well. Lapses in production and manufacturing led to a shortage of laminated glass which is expected to last till mid-2022 and this trend is expected to diminish as the market returns to normal.
Demand and supply chain lapses, unavailability of raw materials, closure of multiple sales and distribution channels along with hampered production activity are some major restraints that negatively impacted Laminated Glass market growth through the year 2020.
As industrial activity resumes, the laminated glass market is expected to pick up the pace and a surge in demand is anticipated to promote laminated glass manufacturers to push their production capabilities to meet the high demand and fulfill the shortfalls in supply. Restricted logistic activity will also be back to normal hence bolstering the complete chain of supply and demand in the post-pandemic era and driving the laminated glass market growth.
Increasing use in construction and building applications to Boost Growth
Demand for infrastructure development is paramount in recent times, and this trend is only expected to grow over the forecast period. Glass has become a crucial element in the construction industry, and this is projected to drive the sales of laminated glass through 2028. Extensive use of glass in interior, as well as exterior construction and building applications alike, is also expected to boost laminated glass market potential over the forecast period. Added safety aspects into modern designs with laminated glass is also expected to help laminated glass market growth through 2028
|Historic Years||2016 - 2020|
|Forecast Years||2021 - 2028|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2021 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
High Initial Investment to Restrain Laminated glass Market Growth
Laminated glass is expensive as compared to normal glass and this is a major factor that could constrain the growth of the market over the forecast. The high-cost factor is especially concerning for the economies with lower spending potential where companies and individuals alike cannot afford to invest in this high-quality glass. The aspect of inseparability with glass will also come into play and restrain adoption to a certain and extent and this will further drag down laminated glass market growth through the forecast period.
The global Laminated Glass market is segregated based on inter layer, end use, and region.
By end use, the market is divided into construction and automobile. The construction segment accounts for the majority of laminated glass sales and is projected to remain the most lucrative segment through the forecast period. The increasing adoption of laminated glass in the automotive sector will also aid the laminated glass market growth through 2028. Rising construction activity across the globe will also play a crucial role in driving the demand for laminated glass.
The Asia Pacific will emerge as a highly rewarding market for laminated glass manufacturers owing to rising construction activity in this region, which is majorly driven on the back of increasing demand for infrastructure development. Emerging economies of China and India are anticipated to be major markets in this region, owing to rapid industrialization and urbanization that is propelling construction activity. The rising use of laminated glass in residential and commercial construction applications will also fuel laminated glass market potential in this region. Apart from this, supportive government initiatives in infrastructure development will also aid laminated glass market growth over the forecast period.
North American laminated glass market will see high demand for laminated glass from rising residential construction activity and high spending potential in this region will favor laminated glass market growth in the long run.
Some of the main competitors dominating 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).
This report is based on in-depth qualitative and quantitative analyses of the global Laminated Glass market. Zion Market Research has collected and analyzed key data belong to the global Laminated Glass market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Laminated Glass across the world has been calculated through primary and secondary research.
Zion Market Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Market Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Laminated Glass industry. Primary research makes up the major source of data collection and validation.
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases, and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Laminated Glass market.
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
Increasing demand from construction and automotive industries is a major trend that guide Laminated Glass market growth.
According to the Zion Market Research report, the global Laminated Glass market was worth about US$ 20,692.10 million in 2021 and is predicted to grow to around US$ 29,021.41 million by 2028, with a compound annual growth rate (CAGR) of around 5.80 percent.
The Asia Pacific will emerge as a highly rewarding market for laminated glass manufacturers owing to rising construction activity in this region
Some of the main competitors dominating 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)