Tempered Glass Global Market Opportunities and Strategies to 2033

This report describes and explains the tempered glass market and covers 2018-2023, termed the historic period and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global tempered glass market reached a value of nearly $61 billion in 2023, having grown at a compound annual growth rate (CAGR) of 3.8% since 2018. The market is expected to grow from $61 billion in 2023 to $83.2 billion in 2028 at a rate of 6.4%. The market is then expected to grow at a CAGR of 7% from 2028 and reach $116.8 billion in 2033.

Growth in the historic period resulted from the growth in automotive production, strong economic growth in emerging markets, rise in demand from the hospitality industry and rising concerns about security and vandalism. Factors that negatively affected growth in the historic period included high initial investment.

Going forward, the rising investments in infrastructure development projects, increasing use of tempered glass in consumer electronics, rapid urbanization and rising disposable income will drive the market. Factors that could hinder the growth of the tempered glass market in the future include limited availability of skilled labor and difficulty in recycling tempered glass.

The tempered glass market is segmented by type into plain glass and colored glass. The plain glass market was the largest segment of the tempered glass market segmented by type, accounting for 62.9% or $38.4 billion of the total in 2023. Going forward, the colored glass segment is expected to be the fastest growing segment in the tempered glass market segmented by type, at a CAGR of 6.9% during 2023-2028.

The tempered glass market is segmented by shape into flat tempered glass and bent tempered glass. The flat tempered glass market was the largest segment of the tempered glass market segmented by shape, accounting for 74.3% or $45.3 billion of the total in 2023. Going forward, the bent tempered glass segment is expected to be the fastest growing segment in the tempered glass market segmented by shape, at a CAGR of 7% during 2023-2028.

The tempered glass market is segmented by end-use industry into automotive, construction, electrical and electronics and other end-use industries. The construction market was the largest segment of the tempered glass market segmented by end-use industry, accounting for 60.8% or $37.1 billion of the total in 2023. Going forward, the automotive segment is expected to be the fastest growing segment in the tempered glass market segmented by end-use industry, at a CAGR of 7.4% during 2023-2028.

Asia-Pacific was the largest region in the tempered glass market, accounting for 32.5% or $19.9 billion of the total in 2023. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the tempered glass market will be Asia-Pacific and South America, where growth will be at CAGRs of 7.7% and 6.3% respectively. These will be followed by Eastern Europe and Western Europe, where the markets are expected to grow at CAGRs of 6.1% and 5.8% respectively.

The global tempered glass market is fairly concentrated, with large players operating in the market. The top ten competitors in the market made up to 29.41% of the total market in 2022. Compagnie de Saint-Gobain S.A. was the largest competitor with a 9.84% share of the market, followed by Pittsburgh Plate Glass Company with 5.52%, Corning Incorporated with 4.68%, Nippon Sheet Glass Co. Ltd. with 2.82%, Xinyi Glass Holdings Limited with 1.54%, Fuyao Glass Industry Group Co. Ltd. with 1.30%, Cardinal Glass Industries Inc. with 1.03%, Schott AG with 1.01%, Guardian Industries Corp. with 0.97% and CSG Holding Co. Ltd. with 0.69%.

The top opportunities in the tempered glass market segmented by type will arise in the plain glass segment, which will gain $13.3 million of global annual sales by 2028. The top opportunities in the tempered glass market segmented by shape will arise in the flat tempered glass segment, which will gain $15.8 billion of global annual sales by 2028. The top opportunities in the tempered glass market segmented by end-use industry will arise in the construction segment, which will gain $12.6 billion of global annual sales by 2028. The tempered glass market size will gain the most in China at $4.8 billion.

Market-trend-based strategies for the tempered glass market include launch of innovative products with enhanced durability and anti-scratch technology, introduction of coated glass that combines high visible light transmission and neutral aesthetic, strategic partnerships and acquisitions among market players and launch of new tempered glass without anisotropies to resist high temperature.

Player-adopted strategies in the tempered glass market include focus on innovation and sustainability within the glass industry and leveraging innovation in durable glass composites to enhance the performance and protection of mobile devices.

To take advantage of the opportunities, the analyst recommends the tempered glass companies to focus on innovation for enhanced durability, focus on introducing coated glass varieties, focus on manufacturing anisotropy-free tempered glass, focus on bent tempered glass segment, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships and acquisitions, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions and focus on automotive and construction segments.