Glass Alternative Materials Market to Reach Valuation of US$ 14.8 Bn by 2031, says TMR

ALBANY, N.Y., Feb. 25, 2022 /PRNewswire/ -- The ease of manufacture and transportation, along with affordability, has propelled the demand for glass alternative materials in the building & construction industry. Healthcare, electronics, and automotive are some of the other industries that benefit from performance characteristics, thereby driving lucrative gains to producers of glass alternative materials. The global glass alternative materials market is projected to advance at CAGR of 5.8% during the forecast period of 2021–2031.

Companies in the value chain are benefitting from the rise in demand for glass alternative materials in the automotive industry. Producers in the glass alternative materials market are able to vary the colors, tints, finishes, and designs to meet customized applications, which thus is providing value-grab opportunities in the glass alternative materials market. The fact that they are lightweight have generated attention among vehicle manufacturers.

Acrylic products are gaining popularity in end-use industries in the glass alternative materials market. The adoption is underpinned by the growing availability of products with attractive optical clarity, ease of machining, and colors. They are particularly popular as alternative to glass windows. In addition, glass alternative materials have gained attention due to their better surface quality and splendid resistance to extreme temperatures.

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Key Findings of Glass Alternative Materials Market Study

• Uptake in Building & Construction Industry Expanding Market Size: Rise in demand for glass alternative materials notably polycarbonates and acrylics for commercial and residential constructions has augmented the size of the market. New revenue streams in the glass alternative materials stem from the rapid pace of urbanization and rise in commercial construction activities. Of note, customers are adopting the products in renovation of existing buildings meant for commercial spaces. Transparent wood and polymers are also being used to develop cost-effective products for the emerging markets.
  
  
• Polycarbonate Materials High on Adoption: The glass alternative materials market has expanded in size steadily from the abundant demand for polycarbonates, find the authors of the TMR report. The material type held the leading market share in 2020. Polycarbonates have gained popularity in wide range of building components, such as door, window, interior, and partitions in living rooms and in several of the architectural projects. Their higher strength than glass, remarkable structural support, on-site design flexibility have enabled businesses in end-use industries to meet the performance requirements in several residential building applications.

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Glass Alternative Materials Market: Key Drivers

• Construction of new residential buildings and renovation of old commercial buildings have gathered momentum in developing economies. This has spurred the demand for cost-effective alternatives to glass materials.
• Focus of governments in emerging economies to promote affordable housing schemes notably in developing economies is driving the evolution of the glass alternative materials market.

Glass Alternative Materials Market: Key Regional Dynamics

• Asia Pacific held a major share of the glass alternative materials in 2020, and is projected to account for a sizable revenue share. The regional market is projected to advance at more than 6.6% during the forecast period.
• The Europe glass alternative materials market is expected to witness lucrative avenues in the next few years. The growth is driven by substantial uptake of the products especially in the automotive industry. Germany held a major share of the regional market in 2020.

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Glass Alternative Materials Market: Key Players

Prominent players in the glass alternative materials market are Palram Industries Ltd., Ray Chung Acrylic Enterprise Co., Ltd., Asia Poly Industrial Sdn Bhd, Aristech Surfaces LLC, Sun Acrylam Private Limited, Arkema Group, Elastin International Corp, Lucite International, 3A Composites GmbH, Evonik Industries AG, Trinseo S.A., and Covestro AG.

Global Glass Alternative Materials Market: Segmentation

Glass Alternative Materials Market, by Type

• Acrylic
• Methyl Methacrylate
• Isobornyl Methacrylate
• Methyl Methacrylate-Butadiene-Styrene (MBS)
• Others (Thermoplastic Acrylic Polymers [TPA])
• Polycarbonate
• Bisphenol A And Carbonyl Chloride
• Bisphenol A And Diphenyl Carbonate
• Bisphenol A and Phosgene
• Others (Condensed Bisphenol A )
• Transparent Wood
• Others (Polymers)

Glass Alternative Materials Market, by Light Transmission

• Up To 80%
• >80%-90%
• >90%

Glass Alternative Materials Market, by Application

• Visual Application
• Spectacles
• Eye Lenses
• Others (Goggles)
• Automotive
• Headlights
• Taillights
• Windshield
• Interiors
• Others (Sunroof)
• Electronic
• LCD Screens
• DVDs
• Displays
• Others (LED)
• Construction
• Windows
• Roof
• Furniture
• Others (Room Dividers)
• Medical Devices
• Cuvettes
• Tubing Connectors
• Others (Syringe)
• Aviation
• Aircraft Cabin Windows
• Fighter Canopies
• Others (GPS Displays)
• Energy
• Solar Cells
• Solar Panels
• Others (Connectors)
• Others (Defense)

Glass Alternative Materials Market, by Region

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Russia & CIS
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• ASEAN
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• GCC Countries
• South Africa
• Rest of Middle East & Africa

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About Transparency Market Research

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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