Automotive Glass is fastest growing segment fueling the growth of...

Automotive Glass is fastest growing segment fueling the growth of Laminated Glass market

Posted 2023-11-13 13:24:46

The global Laminated Glass Market is estimated to be valued at US$ 23,997.84 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 sheets of glass bonded with an interlayer material that binds them together. It offers high strength, shatter resistance and acoustic insulation. It is widely used in automotive, construction and other industries due to its enhanced safety performance.

Market key trends:
Rising demand from automotive industry is a major factor driving the growth of laminated glass market. Laminated glass is widely used in windshields, backlites, and side windows in automobiles due to its ability to adhere shattered glass together in case of accidents. It protects vehicle occupants from injury. Increasing automotive production along with rising demand for premium and luxury vehicles equipped with advanced safety features is expected to boost the consumption of laminated glass over the forecast period.

Segment Analysis
The global laminated glass market is dominated by the interlayer segment. The interlayer segment accounted for larger market share in 2022 due to the increasing demand for polyvinyl butyral (PVB) based laminated glass in end-use industries such as construction and automotive. PVB interlayer provides excellent sound insulation, safety and security features which has increased its demand in residential and commercial construction.

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 construction activities and growing automotive production.

Regional analysis
Asia Pacific dominated the global laminated glass market in 2022 and is expected to remain the fastest growing region during the forecast period. This is attributed to the booming automotive production and rapid urbanization and industrialization in countries such as China and India. Government initiatives to promote green buildings are also propelling the demand for laminated glass in the region.

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.