Laminated glass is a type of safety glass that holds together when shattered. It consists of two or more sheets of glass laminated together with an interlayer. The glass sheets and the interlayer are bonded together using heat and pressure. Laminated glass provides strength and safety. It is used in applications such as vehicle roofs, windshields, and tabletops. 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 13.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
The construction industry has been witnessing significant growth over the past few years globally. Laminated glass is widely used in architectural applications due to its safety and security features. It is used in applications where resistance to penetration from vandalism or stray bullets is required. Increasing construction of commercial buildings, shopping malls, and other public infrastructure is driving the demand for laminated glass. Rapid urbanization and growth of real estate sector in emerging economies are some of the factors expected to boost the adoption of laminated glass in construction activities during the forecast period.
Segment Analysis
The global laminated glass market is segmented by interlayer type into polyvinyl butyral (PVB), ionoplast polymer, and others. The PVB segment holds the largest market share as it provides enhanced sound insulation and safety in vehicles and buildings. PVB laminated glasses offer superior optical clarity and impact resistance, making it the most widely used interlayer material globally.
Key Takeaways
The Global Laminated Glass Market Demand is expected to witness high growth over the forecast period. Regional analysis shows that Asia Pacific dominates the market currently. China, India, and Japan are the fastest growing countries in the region due to rapid urbanization and growth in construction activities. North America is another major laminated glass market driven by strong demand from the construction and automotive industries in the US and Canada.
Regional analysis related content comprises: Asia Pacific commands over 40% of the global market share led by China, which is the fastest growing regional market. Growth in this region is fuelled by increased construction of commercial buildings and rising vehicle production in China and India. Rapid urbanization and expanding middle-class population are also driving the demand for laminated glass in residential and commercial construction.
Key players related content comprises: Key players operating in the laminated glass market include Agilent Technologies, Inc., F. Hoffmann-La Roche Ltd, Danaher Corporation, Shimadzu Corporation, Bio-Rad Laboratories, Inc., and others.
The global laminated glass market is expected to witness high growth over the forecast period from 2023-2030. Asia Pacific currently dominates the market. Regional analysis shows China, India, and Japan are fastest growing markets due to construction growth. North America is another major market driven by construction and automotive industries. Key players include Agilent, Roche, Danaher, Shimadzu, Bio-Rad.
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