by The global Laminated Glass Market is estimated to be valued at US$ 23997.84 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Laminated glass consists of two or more pieces of glass that are bonded together by an interlayer. It is produced by laminating two or more layers of glass with polyvinyl butyral (PVB), ethylene-vinyl acetate (EVA) or polycarbonate interlayer. Laminated glass provides excellent strength, safety and security. It is noise-proof and can minimize loss of glass shards in the event of breakage, thus offering protection against injury. These properties make it preferable in various applications such as automotive, construction, solar panels and more.
Market key trends:
One of the key trends in the laminated glass market is growing use in automotive applications. Laminated glasses are increasingly being preferred over tempered glass in windshields and sidelites due to their safety and security features in the event of crash or impact. With rising automotive production globally, demand for laminated automotive glasses is expected to increase substantially over the forecast period. Another important trend is growing use of solar control laminated glasses for residential and commercial construction. Their ultraviolet blocking and heat insulation properties help reduce energy costs of buildings and provide better indoor thermal and visible comfort.
Porter’s Analysis
Threat of new entrants: The laminated glass industry requires high capital investment for setting up manufacturing plants. Also, the established players have strong brand presence which makes entry difficult for new players.
Bargaining power of buyers: The presence of many established laminated glass manufacturers limits the bargaining power of buyers. However, alternative products like tempered glass pose a threat.
Bargaining power of suppliers: Dominance of few key raw material suppliers like glass sheet, polymer interlayers and others increases their bargaining power.
Threat of new substitutes: Products like tempered glass and bulletproof glass are substitutes but laminated glass has better safety and security features increasing switching costs.
Competitive rivalry: Presence of many global players intensifies competition. Established players focus on new technologies, strict quality standards and competitive pricing to sustain in the long run.
Key Takeaways
The Global Laminated Glass Market Size is expected to witness high growth, exhibiting CAGR of 5.7% over the forecast period, due to increasing demand from construction and automotive industries.
Regional analysis
Asia Pacific dominates the global laminated glass market and is expected to maintain its lead over the forecast period. Rising construction activities in China, India and other developing countries along with robust automotive production in the region is fueling market growth. North America and Europe are other major regional markets growing steadily due to recovering construction sector.
Key players
Key players operating in the laminated glass market are Xinyi Glass, Flat Glass Group, AGC Inc., Cardinal Glass Industries, Inc, Fuyao Group, CSG Holding, Central Glass Co., Ltd., Fuso Glass India Pvt. Ltd., Shanghai Yaohua Pilkington Glass, Guardian Industries, NSG Group, Schott AG, Vitro, S.A.B. de C.V., China Luoyang Float Glass Group Co., Ltd., Arnold Glas Corporation, Saint-Gobain.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
