Automotive industry poised to drive Advanced Glass Market growth

Automotive industry poised to drive Advanced Glass Market growth

eTurboNews Syndication:

Pune, Maharashtra, India, September 3 2020 (Wiredrelease) Global Market Insights Research Pvt. Ltd –: The advanced glass market has gathered immense pace in recent years because of the product’s unique properties on account of which it finds applications in mobile gadgets, cookware, the automotive industry, and the construction industry. The increased importance of safety systems in the automobile industry has led to a rise in the demand for advanced glass. In the construction industry, the construction of energy-efficient buildings and increased green projects has driven growth for the advanced glass Market.

According to a report by Global Market Insights, Inc., the advanced glass market is expected to be valued at over USD 110 billion by 2024.

Rising Energy Efficient building Projects worldwide

Advanced glass is known to have properties that control solar and thermal heat. Several construction projects around the world are expected to contribute to major energy savings by using advanced glass to improve the energy performance of buildings. The Department of Energy, USA, for example,  has recently sanctioned 63 green projects worth USD 74 million on green buildings.

The European advanced glass market is also projected to grow substantially by 2024. Policymakers in Europe have pledged funds for the green construction sector for the newly refurbished buildings. This would lead to increased government spending on greener resources, thereby boosting advanced glass industry outlook. Glass has proved itself as a highly aesthetic material which when incorporated correctly into a structure, gives it a look that is pleasing to the eye, be it in automotive or in construction. Considering the existing glass facades, there are trends for neutrality, high light transmission, and least reflectivity.

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Developments in automotive industry and its impact on the Advanced glass market

The automotive industry is considered a vital element of economic development for a country. In the Asia Pacific region, where the automotive sector is on a rise, the advanced glass market is projected to show commendable growth in the coming years with China predicted as the main contributor. Due to the growing demand and availability of cheap and efficient labor, the China advanced glass market size is expected to grow significantly by 2024.

The European automotive markets are considered one of the oldest in the world for exports and employment with the majority of the world’s leading automobile brands having European roots. These major brands have made significant strides in auto Glass and windshield technology which has proved to be another driver for advanced glass market growth.

Revolutionary breakthroughs in Security Standards

The glass materials that were once known to be quite brittle are now capable of providing full security standards using nanotechnology. Products are now being manufactured focusing on preventing glass penetration by dramatically using glass strength. In the UAE strides have been made to manufacture glass that is light in weight but is still 100 times stronger than steel. Not only do these glasses protect from forced entry and ballistic attacks but they also have properties that repel rainwater. 

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Glass as a building material and its drawback

There are various challenges that advanced glass market players have to surmount. It is a highly heat absorbent material that is considered unfit for use in earthquake-prone zones which makes it unfeasible to be used in parts of the world like Japan, China, Indonesia, Iran, Turkey, etc. The major impact of glass production is atmospheric emissions from melting activities leading to high CO2 emissions. Also, the nitrogen oxide released from these high temperatures leads to acidification.

High-performance advanced glass materials are at the heart of core technological innovations and are recognized as one of the strongest worldwide. The development of these advanced materials needs to now become a part of the circular economy. The increased nature of lightweight, eco-friendly, green projects will drive the advanced glass market to register hefty proceeds from the construction industry. Consistent innovations in the automotive industry will highly influence research work leading to the expansion of product categories across the market that use renewable or recycled materials to manufacture advanced glass.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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