Market Outlook
According to this report, the global tempered glass market size reached a value of USD 59.72 billion in 2023. Aided by the increasing awareness regarding the advantageous properties of tempered glass as compared to standard glass, the market is projected to further grow at a CAGR of 7.6% between 2024 and 2032 to reach a value of USD 115.45 billion by 2032.Tempered glass, also known as toughened glass, is a type of safety glass processed by controlled thermal or chemical treatments to increase its strength compared with normal glass. The tempering process puts the outer surfaces into compression and the inner surfaces into tension, which causes the glass, when broken, to crumble into small granular chunks instead of splintering into jagged shards. These granular chunks are less likely to cause injury, making tempered glass ideal for applications in environments where human safety is a concern.
One of the primary drivers of the tempered glass market growth is the growing demand from the construction industry. The increasing number of infrastructure projects, particularly in emerging economies, is propelling the demand for durable and safety-oriented building materials. Tempered glass is extensively used in buildings for applications such as windows, doors, facades, and partitions due to its high strength and safety features.
In addition, the automotive industry significantly contributes to the tempered glass market expansion. Tempered glass is commonly used in vehicle windows and windshields because of its safety properties. The surge in automotive production, coupled with the rising emphasis on passenger safety, is boosting the demand for tempered glass in this sector.
Moreover, the rising consumer awareness regarding safety and security is encouraging the adoption of tempered glass in residential and commercial buildings. The increasing incidences of accidents involving glass breakage have led to a heightened preference for safety glass products, further driving the market growth.
Innovations in tempering processes and the development of advanced tempering machines are enhancing the quality and strength of tempered glass, making it more desirable for various applications, thus increasing the tempered glass market share. Increasing environmental concerns are driving the adoption of eco-friendly production practices in the glass industry. Companies are focusing on reducing their carbon footprint and developing recyclable tempered glass products.
The integration of smart technologies in glass products, such as switchable glass and self-cleaning glass, is gaining traction. These innovations are expected to create new opportunities in the market. The increasing focus on renewable energy sources is boosting the demand for tempered glass in solar panel production. The durability and strength of tempered glass make it ideal for protecting solar cells and enhancing the efficiency of solar panels.
As per the global tempered glass market analysis, rapid urbanization and industrialization in emerging economies present significant growth opportunities for market players. The increasing number of construction projects and the growing automotive industry in these regions are expected to drive the demand for tempered glass. The growing demand for durable and scratch-resistant screens in electronic devices such as smartphones, tablets, and laptops is creating new opportunities for tempered glass manufacturers. Continuous advancements in product design and the development of new tempered glass applications are expected to open up new avenues for market growth.
Looking ahead, the tempered glass market is poised for steady growth, driven by the increasing demand from various end-use sectors and the ongoing technological advancements in glass production. The market is expected to witness significant growth in the Asia Pacific region, supported by the booming construction and automotive industries.
Market Segmentation
The market can be divided based on type, end use and region.Market Breakup by Type
- Plain Glass
- Coloured glass
Market Breakup by End Use
- Automotive
- Construction
- Consumer Electronics
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global tempered glass market. Some of the major players explored in the report are as follows:- AGC Inc.
- Saint-Gobain S.A.
- Cardinal Glass Industries, Inc.
- Guardian Industries Holdings
- Nippon Sheet Glass Co., Ltd
- Airxcel, Inc.
- Kibing Group
- SCHOTT AG
- Tomakk Glass Partners, LLC
- Others
Table of Contents
1 Preface2 Report Coverage - Key Segmentation and Scope4 Key Assumptions7 Opportunities and Challenges in the Market16 Price Analysis18 Key Trends and Developments in the Market
3 Report Description
5 Executive Summary
6 Market Snapshot
8 Global Tempered Glass Market Analysis
9 North America Tempered Glass Market Analysis
10 Europe Tempered Glass Market Analysis
11 Asia Pacific Tempered Glass Market Analysis
12 Latin America Tempered Glass Market Analysis
13 Middle East and Africa Tempered Glass Market Analysis
14 Market Dynamics
15 Trade Data Analysis (HS Code - 7007)
17 Competitive Landscape
List of Key Figures and Tables
Companies Mentioned
- AGC Inc.
- Saint-Gobain S.A.
- Cardinal Glass Industries, Inc.
- Guardian Industries Holdings
- Nippon Sheet Glass Co., Ltd
- Airxcel, Inc.
- Kibing Group
- SCHOTT AG
- Tomakk Glass Partners, LLC
Methodology
LOADING...
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 187 |
Published | June 2024 |
Forecast Period | 2024 - 2032 |
Estimated Market Value ( USD | $ 64.25 Billion |
Forecasted Market Value ( USD | $ 115.45 Billion |
Compound Annual Growth Rate | 7.6% |
Regions Covered | Global |
No. of Companies Mentioned | 9 |