The Worldwide Advanced Glass Industry is Projected to Reach $117.9 Billion by 2030

Dublin, June 13, 2022 (GLOBE NEWSWIRE) -- The "Advanced Glass Market by Glass Type, Function, Verticals - Global Opportunity Analysis and Industry Forecast, 2022-2030" report has been added to ResearchAndMarkets.com's offering. The Global Advanced Glass Market size is valued at USD 65.89 billion in 2021 and is projected to garner USD 117.93 billion by 2030, witnessing a CAGR of 6.7% from 2022-to 2030. Advanced glasses are superior grade glasses, manufactured using soda-ash, natural gas, and silica sand. Depending on their application, these glasses undergo various chemical and mechanical procedures, hence offering highly technical and technological advancements. These glasses have numerous advantages such as resistance to ultra-violet rays, solar control, UV protection, sound reduction, durability, safety, and security. Due to the high-performance index, these glasses have wide applications in different industry verticals such as construction, automotive, electronics, sports, optics, lighting, as well as aerospace & defense. Market Dynamics and Trends The upsurge in urbanization demands better construction of residential, commercial, and industrial infrastructures. The growing demand for advanced infrastructures and modern architectures is bolstering the global advanced glass market growth. Besides, increasing adoption of advanced glasses in optics, lighting, electronic gadgets, home appliances, and other cutting-edge technologies are to propel the market growth during the forecast period. However, high-cost raw materials and their accessibility may hinder the growth of the global advanced glass market, during the forecast period. Moreover, factors like rising demands for value-added materials in infrastructural advancements, stringent building & automobile safety codes, emerging economies proceeding to larger markets, and heavy investments in R&D activities, are to create lucrative opportunities in the global advanced glass market in the future. Market Segmentations and Scope of the Study: The advanced glass market share analysis is based on application, end-user, and geography. Based on glass type, the market is segmented into laminated glass, coated glass, toughened glass, and others. Other types of advanced glass are chemically strengthened glass, ceramic glass, and filter glass. Based on function, the market covers optics & lighting, high performance, safety & security, solar control, and others. Based on verticals, the market is classified into construction, electronics, aerospace & defense, automotive, sports & leisure, and others. The construction segment is segmented into residential & commercial construction, infrastructure construction, and industrial construction. Geographic breakdown and analysis of each of the previously mentioned segments are included for the regions including North America, Europe, Asia-Pacific, and LAMEA. Geographical Analysis North America denotes a higher adoption of advanced glass, hence it is expected to hold the highest advanced glass market share during the forecast period. This is attributable to the factors like growth in energy-efficient building projects, high R&D investments, high consumer awareness, and technological advancements. It is expected that the emerging economies, specifically the Asia-Pacific region shall witness a growing market size, owing to factors such as a rise in infrastructure expenditure, increasing demand for highly precise structured glasses, proliferating automobile sales, and increasing vehicle manufacturing capacities. Competitive Landscape The advanced glass market engrosses various market players. Some of the major market players are Asahi Glass Co., Ltd., Saint Gobain S.A., Nippon Sheet Glass Co., Ltd., Corning Inc., GrayGlass Company, Schott AG, Advanced Glass & Mirror, Inc., Guardian Industries, Sisecam Group, PPG Industries, Inc., Abrisa Technologies, Central Glass Co., Ltd., Euroglas GmbH, and others. There are tremendous technological advancements taking place in the global advanced glass market. For instance, in January 2020, Corning Inc. announced its first auto-grade solution by showcasing its brand-new technical glass innovations at the 2020 Consumer Electronics Show. The showcase featured the latest vehicles to adopt auto-grade gorilla glass with Corning's patented cold-form technology, which enables a more immersive experience for drivers by providing smartphone-like touch sensitivity. Where the showcase has featured Corning's advanced glass solutions, enabling the latest trends in the mobile consumer electronics, display, and automotive industries; its curved dual-display module enhances the interior display system with anti-reflective and decorative cover glass technology.