April 14, 2024

Laminated Glass is Estimated to Witness High Growth Owing to Advancements in Safety and Strength Technologies

Laminated glass is a type of safety glass that holds together when shattered. It consists of two or more sheets of glass bonded together by an interlayer, usually polyvinyl butyral (PVB), ethylene-vinyl acetate (EVA), or thermoplastic polyurethane (TPU). It provides enhanced structural integrity and sound control in addition to safety benefits. Laminated glass is widely used in automotive windshields and architectural applications such as windows, partitions, and canopies due to its resistance to penetration and prevention of shattering into sharp pieces.

The global laminated glass market is estimated to be valued at US$ 27645.52 Bn in 2024 and is expected to exhibit a CAGR of 13.% over the forecast period 2024 to 2031.

Key Takeaways
Key players operating in The Laminated Glass Market are Agilent Technologies, Inc., F. Hoffmann-La Roche Ltd., Acobiom, Apis Assay Technologies Ltd., Eagle Biosciences, Inc., Beckman Coulter, Inc., PerkinElmer Inc., Biopanda Reagents Ltd, Quanterix, Secure Diagnostics Pvt. Ltd., BioVision Inc., Merck KGaA, R&D Systems, Life Diagnostics, QuantaMatrix Inc., Nanjing Synthgene Medical Technology Co., Ltd, LifeSpan BioSciences, Inc, Wako USA, BioLegend, Inc, Abnova Corporation, and Abbexa.

The key opportunities in the laminated glass market include growth in the automotive and construction industries where safety glass is highly preferred. Technological advancements have led to the development of glasses capable of providing ballistic protection and resistance to extreme weather conditions.

Market drivers
The automotive and construction industries are major drivers of the laminated glass market. Strong government regulations regarding passenger safety in vehicles have increased the adoption of advanced laminated windshields and side windows. Additionally, rising income levels are fueling vehicle ownership especially in developing regions of Asia Pacific and Middle East & Africa, thereby accelerating market revenue. In the construction sector, growing infrastructure development projects and building of commercial complexes are spurring demand for laminated architectural glass.
Challenges in Laminated Glass Market

The laminated glass market is facing challenges such as increased competition from alternative materials, innovation costs for new technologies and volatile raw material prices. Other challenges include growing environmental concerns regarding use of plastics in interlayers and regulatory compliance. Manufacturers need to focus on sustainability, reduce costs and offer innovative products to overcome these challenges.

SWOT Analysis
Strength: Laminated glass offers excellent safety and security properties. It does not shatter into sharp pieces on breaking, providing protection against injuries.
Weakness: Laminated glass is heavier and more expensive than normal glass. Raw material prices also impact the overall costs.
Opportunity: Growing construction industry worldwide especially in developing regions drives the demand. Rapid urbanization and emphasis on safety and security boost its use in various applications.
Threats: Strict regulations regarding plastic waste and emphasis on sustainable construction pose challenges. Alternative safer materials can also impact its market share.

Geographical Regions

The North America region accounts for largest share of the laminated glass market in terms of value, led by the U.S. and Canada. Growing construction industry, strict safety regulations and customer preference for advanced glass drive its demand. The Asia Pacific region is expected to be the fastest growing market during the forecast period due to booming construction activities in India, China and other developing countries.

Fastest Growing Region

The Asia Pacific region is projected to be the fastest growing regional market for laminated glass between 2024-2031, growing at over 15% CAGR. Rapid urbanization, infrastructure development projects, rising personal income, government initiatives for smart cities and increasing consumer focus on security and safety are major factors fueling the demand. Countries like India, China, Japan, Indonesia and Vietnam are expected to offer lucrative opportunities for market participants in this region.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it