Tempered Glass Market In U.S. To Be Over 7.5 bn USD by 2024

U.S. tempered glass market size is likely to be over USD 7.5 billion by 2024 due to rising consumer expenditure on interior and exterior designs resulting to high aesthetic value. Increasing application outlook in construction, automotive, and furniture sectors should stimulate tempered glass industry growth in the region. Emergence of various car manufacturing companies including Nissan, Honda, and Volkswagen may have a positive impact in the overall industry.

Estimates cite that tempered glass market from the commercial construction sector is projected to cross USD 12.5 billion by 2024. Notably, this product is also used in the construction of greenhouses. Greenhouses in fact, exclusively use tempered glass due to their availability in multiple pane sizes that help greenhouses function more effectively. In both commercial buildings and greenhouses,  helps in reflecting heat and withstands the contraction and expansion of the structures better than ordinary glass. Undeniably, the product, having established its supremacy as an indispensable material, has witnessed an increase in demand, thereby impacting the commercialization potential of the market.

The last few decades have witnessed tempered glass market experiencing a gradual but commendable growth, which can be credited to the fact that the product finds massive applications across the construction, automotive, and electronics sectors. In fact, the deployment of this product across these expanding domains has been so commendable, that tempered glass industry size was pegged at a USD 24.5 billion in 2016.

The sales graph of tempered glass industry has particularly observed an upsurge across the emerging economies like China, Brazil, India and Malaysia, where the construction industry has been reigning supreme since the last few years. It is however, also prudent to mention that this product is used home appliances, cookware and furniture, owing to which tempered glass market share is likely to observe substantial growth over 2017-2024.

Tempered glass market size from automotive applications may exceed USD 11 billion up to 2024. It is preferably used in side and rear windows on account of its durability, safety, tensile strength and thermal resistance will favor product demand. Increasing product usage for automobile manufacturing owing to lightweight and anti-breakage characteristics should stimulate industry growth.

It is imperative to mention that the emerging economies have been substantially lucrative contributors of tempered glass market. China and Brazil, specifically, have been touted to be profitable growth grounds for tempered glass market over 2017-2024. As per estimates, China tempered glass industry size has been forecast to exceed USD 4.5 billion by 2024, owing to the product's widespread application in the construction, automobile and electronics industry. The New-Type Urbanization Plan in China that is aiming at decarbonizing the Chinese cities will also lead to increased use of tempered glass in the urban and commercial areas of the nation. Brazil, driven by the country's surging economic development and increased consumption of electronic items such as microwaves, refrigerators and washing machines, is predicted to register a CAGR of 5.6% over 2017-2024.