Market Research Reports, Business Consulting Services & Analytics
Increasing Automotive Production of Advanced Glass Market Drivers
HYDERABAD, TELANGANA, INDIA, September 27, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that Advanced Glass Market size is forecast to reach US$52 billion by 2027, after growing at a CAGR of 7.2% during 2022-2027, owing to the increasing usage of advanced glass in various end-use industries such as automotive, aerospace, infrastructure, electronics, sports, and more. Advanced glass types such as coated glass, laminated glass, toughened glass, ceramic glass, and tempered glass have distinct benefits including safety, sound reduction, durability, UV control, safety, ease of installation, the versatility of design, and these properties are expected to increase market demand. The rapid growth of the building and construction industry has increased the demand for advanced glass; thereby, fueling the market growth. Furthermore, the flourishing automotive industry is also expected to drive the advanced glass market substantially during the forecast period. Furthermore, it is projected that the bolstering solar energy industry will also contribute towards the advanced glass market growth during the forecast period. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
Click here to browse the complete report summary:
1. Asia-Pacific dominates the advanced glass market, owing to the increasing electrical & electronics industry in the region. According to Invest India, the domestic electronics market in India will attain US$400 billion by 2025.
2. Advanced glasses such as coated glass, laminated glass, toughened glass, ceramic glass, and tempered glass possess extensive characteristics such as increased security, sound reduction, durability, UV control, safety, installation ease, design versatility, and more. These properties of advanced glass are projected to increase market growth.
3. In addition, increasing government investments in building and construction projects are further expected to augment the product demand in near future.
4. Furthermore, government regulations requiring the use of energy-efficient products and a desire to use renewable resources are both rigorous are projected to provide lucrative opportunities for the market.
5. However, high manufacturing costs associated with the fabrication of advanced glasses are likely to restrain the market growth during the forecast period.
Interested in knowing more relevant information? Click here:
1. The coated glass segment held the largest share in the advanced glass market in 2021 and is growing at a CAG of 6.7% during 2022-2027, owing to the various advantages that it offers such as reduced radiant heat, better thermal performance, reduced reliance on heating and cooling system, protecting furniture from long term sun damage, reduced condensation, and more.
2. Asia-Pacific region held the largest share in the advanced glass market in 2021 up to 41%, owing to the increasing demand for advanced glasses such as coated glass, laminated glass, toughened glass, ceramic glass, and tempered glass from the electrical and electronics industry in the region.
3. According to China’s National Integrated Circuit Development Promotion Outline. In 2022, the production of ICs in China will accelerate at an annual average rate of over 14 percent. India’s contribution to global electronics production has increased from 1.3 percent in 2012 to 3% in 2018, according to Invest India. Moreover, by 2025, India might have a digital economy worth US$800 billion to US$1 trillion, with the digital sector accounting for 18–23% of total economic activity.
4. According to the Japan Electronics and Information Technology Industries Association (JEITA), in December 2019 the production of consumer electronic equipment was at US$356 million and in December 2020 it increased to US$380 million with an increase of 6.8% compared to the year 2019.
5. The electrical & electronics segment held the largest share in the advanced glass market in 2021 and is growing at a CAGR of 7.2% during 2022-2027, owing to the increasing usage of advanced glass such as coated glass, laminated glass, toughened glass, ceramic glass, and tempered glass in the electrical & electronics industry.
6. The safety & security segment held the largest share in the advanced glass market in 2021, owing to the increasing usage of advanced glass for safety and security purposes.
The top 5 players in the Advanced Glass industry are –
1. Advanced Glass & Mirror Inc.
2. Asahi Glass Co.
3. Corning Inc.
4. Fuyao Glass Industry Group Co. Ltd.
5. Huihua Glass Co. Limited
Click on the following link to buy the Advanced Glass Market Report:
Why Choose IndustryARC?
IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.
A. Flat Glass Market
B. Construction Glass Low E Market
Mr. Venkat Reddy
Email: firstname.lastname@example.org, email@example.com
USA: (+1) 970-236-3677, (+1) 815-656-4596
IND: (+91) 40-485-49062
email us here
Visit us on social media: