Post Time：Nov 22,2018Classify:Industry NewsView：1360
The change of events observed in the business space lately is expected to bring a consequential transformation in the way tempered glass market has been perceived for long. Say for instance, recently, renowned Indian glass maker, Borosil, has inaugurated a new tempered glass facility at its already established high performing solar glass plant at Bharuch. Experts believe, this million-dollar project, in effect, would significantly curtail the cost of solar power, in addition to improving its viability for consumers.
Geographically, tempered glass industry demand has observed a marked upsurge across emerging economies such as India, China, and Brazil, where the construction sector has been on a robust incline since the past few years. When it comes to selecting glazing products for applications that demand safety, strength, and durability, architects have always preferred tempered glass. Primarily on account of its unique blend of properties like superior strength and shatter resistance, tempered glasses, nowadays, are extensively deployed in modern construction applications in compliance with the safety glazing standards like CPSC 16 CFR 1201, and ANSI Z97.1.
In this regard, it is imperative to mention that regional governments have had an indirect yet pronounced influence on tempered glass market proliferation, especially in this particular vertical. Say for instance, the China Government has been making quite some profound investments in green building facility since the past few years, which by extension has notably upscaled the product consumption in the regional infrastructural projects.
In tandem, the country’s extensive growth toward central National New-Type Urbanization Plan is also claimed to complement the business expansion in the region. As per estimates, China tempered glass market is slated to cross a valuation of USD 4.5 billion by 2024.
However, volatility in raw material prices might create a supply demand gap in the value chain, hampering the profitability quotient to some extent.
Nonetheless, in an effort to respond to the challenge, renowned giants involved in tempered glass market have been incessantly taking initiatives toward increasing the production capacity and expanding the product portfolio. All in all, taking into consideration the multitude of application spheres that tempered glasses are engaged to, tempered glass industry is sure to make massive turnarounds in terms of profits over the coming years, exceeding a valuation of USD 40 billion by 2024.
Source: thecampingcanuck.comAuthor: Shangyi
