At 5.80% CAGR, the Global Laminated Glass Market is Projected to Reach Worth USD 29,021.41 million By 2028: Industry Trends & Forecast Report by Zion Market Research
NEW YORK, April 20, 2022 /PRNewswire/ -- As per Zion Market Research study, 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.
Key Industry Insights & Finding of the Laminated Glass Market Reports:
- As per the analysis shared by our research analyst, the Laminated Glass Market is expected to grow annually at a CAGR of around 5.80% (2022-2028).
- Through the primary research, it was established that the Laminated Glass Market was valued approximately USD 20,692.10 Million in 2021 and is projected to reach to roughly USD 29,021.41 Million by 2028.
- 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.
Zion Market Research published the latest report titled as "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." into their research database.
Laminated Glass Market: Overview
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.
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Industry Dynamics:
Laminated Glass Market: Growth Dynamics
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.
Laminated Glass Market: Restraints
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 irreparability 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.
Laminated Glass Market: Segmentation
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 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.
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Recent Developments
- In June 2019 – Asahi Glass Co. Ltd. a leading name in manufacturing industry announced a partnership with the Tokyo Institute of Technology to increase research scope in the fields of glass, ceramics, and other materials
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List of Key Players of Laminated Glass Market:
- 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)
- Schott AG (Germany).
Key questions answered in this report:
- What are the growth rate forecast and market size for Laminated Glass Market?
- What are the key driving factors propelling the Laminated Glass Market forward?
- What are the most important companies in the Laminated Glass Market Industry?
- What segments does the Laminated Glass Market cover?
- How can I receive a free copy of the Laminated Glass Market sample report and company profiles?
Report Scope:
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Regional Dominance:
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.
Global Laminated Glass Market is segmented as follows:
Laminated Glass Market: By Interlayer Outlook (2022-2028)
- Polyviny Butyral
- Ionoplast Polymer
- Others
Laminated Glass Market: By End-Use Sector Outlook (2022-2028)
- Construction
- Automobile
Laminated Glass Market: By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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