Laminated Glass Market Dynamics and Trends by 2028
Historic Data: 2019-2020 | Base Year: 2021 | Forecast Period: 2022-2028Laminated 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)
- Report Date : Nov 2021
- Report Code : TIPRE00006423
- Category : Chemicals and Materials
- Status : Published
- Available Report Formats :
- No. of Pages : 147
The laminated glass 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.
Laminated glass is prepared by applying pressure and heat to multiple layers of heat-strengthened or tempered glass. The laminated glass is separated by an interlayer. The interlayer helps in holding the glass fragments together when hit with an impact. The glass has wide applications in industries such as building and construction, automotive, and electronics.
In 2020, Asia Pacific held the largest revenue share of the global laminated glass market. The growing number of residential and commercial construction projects is the major factor contributing to the growth of the market in this region. The consequent growth of the construction industry is fueling the demand for laminated glass in the region. Moreover, Asia Pacific has a dominant automotive industry, and it records the highest production of vehicles among all regions. The laminated glass is extensively used in windshield covers in the automotive industry, which creates favorable business opportunities for laminated glass manufacturers.
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Laminated Glass Market: Strategic Insights
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Laminated Glass Market: Strategic Insights
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Impact of COVID-19 Pandemic on Laminated Glass Market
The COVID-19 pandemic had affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The chemical and materials industry was one of the major industries that suffered serious consequences such as disruptions in supply chains and shutdowns of production plants. The laminated glass market shortfall is expected to last until 2021, causing disruptions in various businesses. Further, many factories and manufacturers had to suspend or slow down glass production, making it exceedingly difficult to satisfy current demands. The building industry has been the major victim of the glass scarcity. During the shutdown, residents invested both time and money in rebuilding or remodeling their homes, propelling the demand for materials. Moreover, due to difficulties in procuring 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.
Market Insights
Increasing Application in Building & Construction Industry Fuels Laminated Glass Market Growth
The demand for laminated glass in the building & construction industry has gained significant momentum due to increasing use of glass as a structural element and the preference for more creative architecture designs. The use of glass as a structural element in mainstream building projects is becoming more popular. Laminated glass finds extensive use in various interior and exterior applications in the building & construction industry. Moreover, it adds to the safety and durability of modern designs. The need to keep homes and commercial buildings safe has fueled the demand for safety glass and other glazing products.
Application Insights
Based on application, the global laminated glass market is segmented into building and construction, automotive, electronics, solar panels, and others. The building & construction segment held the largest share of the market in 2020. Laminated glass is widely used in residential and commercial buildings due to its strength and shatterproof nature. The laminated glass is increasingly used at hotels, airport terminals, and recording studios due to its noise-insulation properties. The growth in building & construction industry, especially in emerging regions such as Asia-Pacific, is likely to boost the demand for laminated glass in the coming years.
A few 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; and Xinyi Glass Holdings Limited. Players operating in the market are highly focused on the development of high-quality and innovative product offerings to fulfil the customer’s requirements.
Report Spotlights
- Progressive industry trends in the laminated glass market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the laminated glass market from 2019 to 2028
- Estimation of global demand for laminated glass
- Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Market trends and outlook as well as factors driving and restraining the growth of the laminated glass market
- Assistance in decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- The size of the laminated glass market size at various nodes
- Detailed overview and segmentation of the market, as well as the laminated glass industry dynamics
- Size of the laminated glass market in various regions with promising growth opportunities
Laminated Glass Market Regional Insights
The regional trends and factors influencing the Laminated Glass Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Laminated Glass Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
- Get the Regional Specific Data for Laminated Glass Market
Laminated Glass Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 20.76 Billion |
| Market Size by 2028 | US$ 32.1 Billion |
| Global CAGR (2021 - 2028) | 6.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Material Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
Laminated Glass Market Players Density: Understanding Its Impact on Business Dynamics
The Laminated Glass Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Laminated Glass Market are:
- Asahi India Glass Limited
- CARDINAL GLASS INDUSTRIES, INC
- Central Glass Co., Ltd
- Fuyao Group
- GUARDIAN GLASS LLC.
Disclaimer: The companies listed above are not ranked in any particular order.
- Get the Laminated Glass Market top key players overview
Laminated Glass Market Segmentation:
Material Type
- Polyvinyl Butyral
- Ethyl Vinyl Acetate
- Ionoplast Polymer
- Aliphatic TPU
- Others
Application
- Building and Construction
- Automotive
- Electronics
- Solar Panels
- Others
Company Profiles
- 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.
Frequently Asked Questions
What is the key driver for the growth of the global laminated glass market?
Increasing usage of laminated glass in building & construction industry along with associated advantages of laminated glass are the key factors driving the market growth over the forecast period. With the increasing use of glass as a structural element and the preference for more creative architecture designs, the demand for laminated glass in the building & construction industry has gained significant momentum. The laminated glass has various advantageous features which includes safety, security, reduced noise pollution, reduced emissions, UV control, durability, weather/natural disasters protection, and design versatility. Thus, growing prospectus in constructing modern buildings and structures coupled with its beneficial advantages drives the laminated glass market over the forecast period.
In 2020, which country held the largest market share in global laminated glass market?
In 2020, China held the largest market share in the global laminated glass market. China is the world’s largest vehicle market across the globe, as per the International Trade Administration (ITA). The Chinese government has taken several initiatives for automobile manufacturers for augmenting the production capacity of the country to 35 million by 2025. The growing prospects of construction industry in China is further fueling the market growth. For instance, in 2019, the government of China had invested US$ 1.9 billion in 13 public housing projects. Thus, increasing construction activities and automotive production is anticipated to propel the laminated glass market in China in the coming years.
Which category segment accounted for the largest share in the global laminated glass market?
In 2020, the polyvinyl butyral (PVB) segment accounted for the largest market share. The growth of the segment is primarily attributed to its tough and ductile interlayers which makes it an excellent sound insulator. The PVB interlayer joins with both layers of the glass and holds it together to produce one strong and uniform layer. As the bond between the PVB sheet and the glass is a chemical bond, it does not shatter easily. Thus, wide scope application in automotive industry for windshields applications, PVB segment is augmenting the market growth.
Which application segment is the fastest growing in the global laminated glass market?
On the basis of application, automotive segment is the fastest growing segment. Laminated glass is most widely used in car windshields in the automotive industry. It provides various advantageous features such as high strength, soundproofing, resistance to shattering, and security. As laminated glass does not shatter, it minimizes the risk of cuts and injuries and ensures the safety of the driver and passengers. Thus, growing adoption of laminated glass in the automotive industry is projected to drive the market growth over the forecast period.
Can you list some of the major players operating in the global laminated glass market?
The major players operating in the global laminated glass market are Asahi India Glass Limited, Cardinal Glass Industries, Central Glass Co., Ltd., Fuyao Group, Guardian Glass LLC, PRESS GLASS SA, Saint-Gobain, Schott AG, Taiwan Glass Ind. Corp, and Xinyi Glass Holdings Co., Ltd.
In 2020, which region held the largest share of the global laminated glass market?
In 2020, Asia Pacific accounted for the largest share of the global laminated glass market. Rapid development in construction & automotive industry has propelled the demand of laminated glass in the region. In addition, growing investments by governments in infrastructural development projects such as airports, and public transit systems is driving the demand for laminated glass in Asia Pacific region.
Market Research & Consulting
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
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The List of Companies - Laminated Glass Market
- Asahi India Glass Limited
- CARDINAL GLASS INDUSTRIES, INC
- Central Glass Co., Ltd
- Fuyao Group
- GUARDIAN GLASS LLC.
- PRESS GLASS SA
- SCHOTT AG
- SAINT GOBAIN S.A.
- Taiwan Glass Group
- Xinyi Glass Holdings Limited
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