As per SNS Insider’s research, as technology continues to advance and safety and sustainability concerns remain paramount, the future of the laminated glass market appears promising, with continued innovation and expansion on the horizon.
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The Major Key Company Profiles included in Laminated Glass market study are:
- Hitachi Chemical Co.
- Magna International Inc.
- SAINT-GOBAIN
- Webasto Group
- Asahi India Glass Limited
- GENTEX CORPORATION
- Xinyi Glass
- Fuyao Glass America
- Motherson Group
- Corning Incorporated
The SNS Insider report states that the laminated glass market reached a valuation of USD 22.59 billion in 2022 and is projected to achieve USD 36.84 billion by 2030, with a compound annual growth rate (CAGR) of 6.3% during the forecast period from 2023 to 2030.
Market Report Scope
Laminated glass, often referred to as safety glass or laminated safety glass, is a type of composite glass designed to enhance safety and security. Laminated glass is primarily used in situations where safety is a top priority. In the event of an impact or breakage, the glass remains in place, held together by the PVB interlayer, minimizing the risk of injury from flying glass shards. This makes it a popular choice for automobile windshields and windows, as well as architectural applications in buildings.
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The Laminated Glass Market Segments and Sub-Segments are Listed Below:
By Application
- Front windshield
- Rear windshield
- Sidelites
- Sunroof
BY Vehicle type
- Passenger cars
- Commercial vehicles
By Sales channel
- OEM
- Aftermarket
Market Analysis
The laminated glass market is experiencing robust growth driven by several key factors that are shaping the industry landscape. With an increasing focus on safety and security, laminated glass is in high demand for applications such as automotive windshields, building facades, and interior partitions. Its ability to remain intact even when shattered, due to the interlayer of polyvinyl butyral (PVB) or other materials, enhances security, prevents injuries from shattered glass, and deters break-ins. The booming construction industry, particularly in emerging economies, has significantly contributed to the growth of the market. It is used extensively in modern building designs for facades, balustrades, and overhead glazing due to its aesthetic appeal, safety features, and sound insulation properties. Ongoing research and development efforts are leading to innovations in laminated glass technology. Smart laminated glass with features like switchable opacity, integrated sensors, and connectivity capabilities are opening up new opportunities for applications in the automotive and construction sectors.
Impact of Recession
The impact of a recession on the laminated glass market is influenced by a complex interplay of economic, market, and government factors. While reduced construction activity and delayed renovation projects can negatively affect the market, government initiatives and innovation can mitigate some of these challenges. Laminated glass manufacturers must adapt to changing market conditions and consumer preferences to navigate successfully through recessionary periods.
Impact of Russia-Ukraine War
The Russia-Ukraine war has created a complex and evolving landscape for the laminated glass market. While challenges stemming from supply chain disruptions and increased production costs persist, opportunities for innovation and market expansion in stable regions are emerging. Laminated glass manufacturers need to adopt a flexible and adaptive approach to navigate these uncertain times and secure their position in the global market.
Key Regional Development
North America has some of the strictest safety regulations, particularly in the construction and automotive industries. This drives the demand for laminated glass, as it offers enhanced safety features such as resistance to shattering. European architecture often combines historic and modern elements. Laminated glass is chosen for its ability to blend seamlessly into traditional structures while providing modern safety standards. The booming construction industry in countries like China and India has fueled the demand for laminated glass. Rapid urbanization and the need for modern infrastructure contribute significantly.
Key Takeaway from Laminated Glass Market Study
- The sunroof segment stands out as one of the dominant players in the market. This trend is driven by a combination of factors that underscore the importance of laminated glass in enhancing the driving experience and safety of vehicles equipped with sunroofs.
- Laminated glass has rapidly gained prominence in the automotive industry, with the passenger cars segment emerging as a major driving force behind its market dominance. Several factors contribute to this dominance, reflecting the significance of laminated glass in enhancing the safety, comfort, and overall appeal of passenger cars.
Recent Developments Related to Laminated Glass Market
- TVITEC, a leading name in the glass processing industry, has taken a significant leap forward with the acquisition of a state-of-the-art TUROMAS cutting line specially designed for laminated and safety glass. This strategic move underscores TVITEC’s commitment to innovation, precision, and quality, positioning them at the forefront of the glass manufacturing industry.
- PGT Innovations, a leading manufacturer and supplier of premium windows and doors, has recently announced a collaboration with Corning Inc., a global technology company renowned for its innovations in glass and materials science. The partnership aims to focus on creating intelligent windows that can adapt to changing environmental conditions.
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Table of Contents – Major Key Points
- Introduction
- Research Methodology
- Market Dynamics
- Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies
- Value Chain Analysis
- Porter’s 5 forces model
- PEST Analysis
8.Laminated Glass Market Segment, By Application
9.Laminated Glass Market Segment, By Vehicle type
10.Laminated Glass Market Segment, By Sales channel
- Regional Analysis
- Company Profile
13.Competitive Landscape
- Conclusion
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