Advanced Glass Materials Market Size (2023-2030)

The Advanced Glass Materials Market size is estimated to grow from USD 66.59 million in 2022 to USD 120.54 million by 2030. The market is witnessing a healthy CAGR of 7.7% from 2023 to 2030. Increasing automotive production and increase in the aerospace industry are the major factor driving the industry's growth.

Industry Overview:

Advanced Glass is a most useful quality of glass that has been designed with particular aspects to serve an extensive variety of applications. It is created via a chemical and mechanical method the use of substances such as silica sand, herbal gas, and soda ash. It has distinct facets and residences that are tailor-made to a number of applications. Advanced glass can be used to shield the displays of laptops and cellular phones. It offers a clear view of intense climatic stipulations because it can be used as a widescreen. It is extensively used in automotive, electronic, and different industries due to the fact of its potential to minimize noise and manage UV rays.

The developing want for urbanization led to an increment in the construction & development of things to do and an increase in the car enterprise & their manufacturing bases are predicted to pressure the Advanced Glass Materials Market over the forecast years. Also, the growing demand for infrastructural improvement in a number of sectors, which in response makes use of value-added substances to meet plan flexibilities expects a raise to the market in the coming years.

A rise in energy-efficient towers, as nicely as an extension in the use of mirrors and windscreens in the automobile sector, will additionally fuel the market for the duration of the forecasted period. There are sure constraints and challenges that can stymie market growth. Factors such as fluctuating uncooked cloth availability and rising expenses as an end result of the widening supply-demand hole are probable to act as market restraints.

COVID-19 impact on the Advanced Glass Materials Market:

COVID-19 is an infectious ailment caused by the novel coronavirus. Largely unknown before the outbreak started out in Wuhan (China) in December 2019, COVID-19 modified into an international pandemic in no time. The COVID-19 pandemic has expanded the burden on healthcare structures throughout the globe. Companies scaled up R&D efforts to advance vaccines and drugs in opposition to the virus. 

In 2020, the COVID-19 outbreak had an excellent effect on the international economy and demand situation for advanced glass in fundamental industries around the world. The international lockdown and limit of industrial operations, alternate activities, supply-chain disruption, and different activities culminated in the Advanced Glass Materials Market scenario. During this circumstance, the key quit industries of advanced glass, such as automotive, construction, aerospace, photo voltaic energy, and extra have been additionally influenced. The market used to be impacted with the aid of tour restrictions and delays in new vehicle manufacturing, decrease demand from the aerospace sector, and a transient halt in development things to do throughout the world for a few months in 2020. As an end result of gradual demand from these end-use industries, the increase of the Advanced Glass Materials Market slowed down in 2020. However, the market is recovering, and agencies have resumed operations with decreased capability and beneath authorities’ guidelines, owing to which all end-use industries have been wholly operational by way of the commencing of 2021, ensuing in excessive demand for superior glass. As a result, the Advanced Glass Materials Market is anticipated to develop at a fast fee over the forecast period.

MARKET DRIVERS:

Increasing Automotive Production and increase in the aerospace industry is driving the growth of the market:

Advanced glasses such as covered glass, laminated glass, toughened glass, ceramic glass, and tempered glass are appreciably used in vehicles in the manufacturing of windscreens, aspect windows, roofs, backlights, displays, and more. In addition, superior glasses are regularly used to limit noise and make bigger thermal comfort in vehicles advanced glasses such as lined glass, laminated glass, toughened glass, ceramic glass, and tempered glass have an extensive range of bodily characteristics that can be tweaked genuinely in the course of production. In contrast to polymers and regular aerospace alloys, superior glasses are liked in the aerospace zone for their magnificent warmth resistance, excessive strength-to-weight ratio, corrosion resistance, and incredibly low manufacturing costs. The demand for superior glasses from the aerospace area is therefore increasing.

MARKET RESTRAINTS:

Lack of Access and the High Cost of Advanced Glass Raw Material is restraining the growth of the market:

A range of raw substances is used via different glass sectors and unique factories. The important uncooked substances are silica sand, soda ash, limestone, feldspar, and dolomite. The shortage of uncooked substances such as silica sand and limestone in most areas is the most massive project confronted by way of the superior glass industry. Only a small share of the sand deposits accessible is appropriate for manufacturing glass. Only six UK sites, for instance, produce silica glass appropriate for the manufacturing of flint container glass. Furthermore, the charge of uncooked substances used in the manufacturing of superior glasses is risky

ADVANCED GLASS MATERIALS MARKET REPORT COVERAGE:

This research report on the Advanced Glass Materials Market has been segmented and sub-segmented based on By Type, By End-Use, and Region.

Advanced Glass Materials Market - By Type:

• Toughened Glass
• Laminated Glass
• Coated Glass
• Ceramic Glass
• Tempered Glass
• Others.

The Advanced Glass Materials market is a mosaic of diverse types that cater to a wide array of applications. Among these, Coated Glass emerges as the dominant segment with the largest contributor to the market share. They are celebrated for their ability to enhance energy efficiency, provide UV protection, and even offer self-cleaning properties. On the other hand, Laminated Glass takes the lead as the fastest-growing segment and is projected to hold a substantial market share during the forecast period. This surge in demand for Laminated Glass underscores its rising prominence in safety-enhancing applications, such as automotive windshields and architectural glazing.

Advanced Glass Materials Market - By End-Use:

• Automotive
• Building and Construction
• Sports & Leisure
• Electrical & Electronics
• Solar Energy
• Aerospace
• Others

Building and Construction is the segment that holds the highest market revenue share making it the most dominant end-user category. This is attributed to the construction industry's reliance on materials that offer energy efficiency, aesthetics, and durability that align perfectly with the attributes of Advanced Glass Materials.

The Aerospace sector emerges as the fastest-growing end-user segment. This trend signifies the increasing integration of Advanced Glass Materials in aircraft design, where they contribute to weight reduction, improved fuel efficiency, and enhanced safety. As aviation technology evolves, the demand for lightweight yet robust materials like Advanced Glass Materials gains momentum.

Advanced Glass Materials Market - By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East
• Africa

The Asia-Pacific region emerges as a pivotal force in the Advanced Glass Materials market making it the largest contributor in the regional segment. Its dominance in this segment is reflective of the region's robust industrial landscape, technological advancements, and rising emphasis on sustainable solutions. Across Asia-Pacific, the demand for Advanced Glass Materials is on the rise, driven by diverse applications in sectors such as construction, automotive, and electronics. This surge in demand solidifies the region's role as the largest contributor to the market, showcasing its influence on the global landscape.

North America is the fastest-growing region in the Advanced Glass Materials market. This projection highlights the region's commitment to innovation, research, and technological advancements. With a focus on sustainability and energy efficiency, industries in North America are increasingly adopting Advanced Glass Materials for applications ranging from energy-efficient buildings to smart electronics. The projected growth in North America reflects the region's dedication to shaping the market's future landscape

Advanced Glass Materials Market Share by Company:

Companies like

1. Corning Inc.
2. PPG Industries, Inc.
3. Saint-Gobain Glass
4. Asahi Glass Co., Ltd.
5. Guardian Industries
6. Nippon Sheet Glass Co., Ltd.
7. Pittsburgh Plate Glass Industries
8. Sisecam Group
9. Gentex Corporation 
10. Fuyao Glass Industry Group Co., Ltd.

And others are playing an essential role in the market. Mergers and acquisitions in the enterprise have enabled players to diversify and decorate their carrier services.

For example, US-based private equity firm Blackstone Group Inc. agreed to buy Piramal Enterprises Ltd.’s (PEL) glass division for 1 billion USD. These businesses are increasing extensively due to ongoing product innovation supported by way of the rapid uptake of modern technologies. In order to feature in the market area effectively, rising companies in the region are focusing on vertical integration of their operations. They are additionally working with familiar manufacturers to enhance their global company presence. Large groups are spending on R&D things to do to create revolutionary items and amplify the utility areas for their products. In addition, the corporations have used other techniques to develop such as mergers and acquisitions.