Increasing Application in Building and Construction Industry Boosts Laminated Glass Market Growth
According to our latest market study on “Laminated Glass Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Material Type (Polyvinyl Butyral, Ethyl Vinyl Acetate, Ionoplast Polymer, Aliphatic TPU, and Others) and Application (Building and Construction, Automotive, Electronics, Solar Panels, and Others),” the market is projected to reach US$ 32.10 billion by 2028 from US$ 20.76 billion in 2021 it is expected to grow at a CAGR of 6.4% from 2021 to 2028. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Laminated glass is prepared by applying pressure and heat to multiple layers of heat-strengthened or tempered glass. There is a high demand for laminated glass in various industries such as building and construction, automotive, and electronics. Due to its high strength, noise reduction ability, and shatterproof nature, laminated glass is used in automotive windshields. Growing investments by major players operating in the market is contributing to the market proliferation.
The demand for laminated glass in the building and construction industry has gained significant momentum with the increasing use of glass as a structural element and preference for more creative architecture designs. Nowadays, interior elements include more use of glass, creating substantial demand for laminated glass. Laminated glass finds extensive application in various interior and exterior applications in the building & construction industry. Laminated glass is suitable in creating a modern and comfortable interior space. These factors are boosting its demand across the world. Furthermore, several emerging economies are focusing on constructing modern buildings and structures, creating a requirement for modern equipment and, in turn, aiding the growth of the global laminated glass market.
Some of the key market players in the global laminated glass market include Asahi India Glass Limited; Cardinal Glass Industries, Inc.; Central Glass Co., Ltd.; Fuyao Group; Guardian Glass Llc; Press Glass Sa; Saint Gobain SA; Schott Ag; Taiwan Glass Group; Xinyi Glass Holdings Limited.; among others.
Impact of COVID-19 Pandemic on Laminated Glass Market
The COVID-19 pandemic has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. It directly affected the production, led to disruptions in supply chain, and subsequently impacted the financial status of firms and the global economy. Similarly, the laminated glass market was facing difficulties due to a shortfall in production and the insufficiency of transportation facilities. Many factories and manufacturers had to suspend or slow down glass production. Restarting factories after being closed or performing suboptimally for an extended period may be exceptionally challenging, especially if the companies aren't operating with full capacity due to health and safety regulations. Moreover, due to difficulties in locating and obtaining glass, the laminated glass business has suffered a significant setback. Thus, a low demand from end-user industries during the COVID-19 pandemic has led to slowdown in the growth of the laminated glass market.
Laminated Glass Market Breakdown – by Region
Laminated Glass Market Growth Report by 2028
Download Free SampleLaminated Glass Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Material Type (Polyvinyl Butyral, Ethyl Vinyl Acetate, Ionoplast Polymer, Aliphatic TPU, and Others) and Application (Building and Construction, Automotive, Electronics, Solar Panels, and Others)
The report includes the segmentation of the global laminated glass market as follows:
The laminated glass market is segmented, by material type, into polyvinyl butyral, ethyl vinyl acetate, ionoplast polymer, aliphatic TPU, and others. Based on application, the market is segmented into building and construction, automotive, electronics, solar panels, and others. By geography, the laminated glass market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South and Central America. The market in North America is further segmented into the US, Canada, and Mexico. The European market is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The laminated glass market in Asia Pacific is subsegmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. South Africa, Saudi Arabia, the UAE, and the Rest of MEA are the key contributors to the market in the Middle East & Africa (MEA). The laminated glass market in South and Central America is further segmented into Brazil, Argentina, and the Rest of South and Central America.Contact Us
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