April 23, 2024

Laminated Glass Market Poised to Grow at a Robust CAGR Owing to Rising Demand from Construction Industry

Laminated glass comprises of two or more layers of glass with one or more interlayers of polymer, most commonly Polyvinyl butyral (PVB). It provides resistance against heat, sound, and impact or fire, while providing security and safety from natural calamities. The growing construction and automotive industries are driving the demand for laminated glass which provides durable safety solutions.

The Laminated Glass Market is estimated to be valued at US$ 27645.52 Bn in 2024 and is expected to exhibit a CAGR of 13.% over the forecast period 2024 to 2031.

The Global Laminated Glass Market is driven by rising construction of commercial buildings and infrastructure projects across major developing economies. Laminated glass finds widespread application in rail and transit systems, commercial buildings, heritage sites, homes and other structures where safety and security are of prime importance. It provides protection from burglary, vandalism, extreme weather events like hurricanes or storms and adds an aesthetic appeal. The advantages of laminated glass such as durability, security and safety features are fuelling its adoption over other alternatives in the construction industry.

Key Takeaways

Key players operating in The Laminated Glass Market are Agilent Technologies, Inc., F. Hoffmann-La Roche Ltd., Acobiom, Apis Assay Technologies Ltd., Eagle Biosciences, Inc., Beckman Coulter, Inc., PerkinElmer Inc., Biopanda Reagents Ltd, Quanterix, Secure Diagnostics Pvt. Ltd., BioVision Inc., Merck KGaA, R&D Systems, Life Diagnostics, QuantaMatrix Inc., Nanjing Synthgene Medical Technology Co., Ltd, LifeSpan BioSciences, Inc, Wako USA, BioLegend, Inc, Abnova Corporation, and Abbexa.

The key opportunities in the market include rising demand for value-added products with anti-bacterial and self-cleaning features. Market players are investing in R&D to develop advanced laminated glass solutions catering to application-specific requirements across diverse end-use industries.

Globally, the laminated glass market is expanding owing to increasing infrastructure development and construction spending in Asia Pacific and Middle East countries. China, India and Indonesia are among the fast-growing markets driving the global demand. Market players are focusing on strengthening their distribution and supply chain networks across developing regions to leverage growth opportunities.

Market Drivers

The major driver for the laminated glass market is the rapid growth of the construction industry across the globe. There is increasing demand for modern residential and commercial construction with aesthetically appealing and safety & security focused building designs. This is promoting the replacement of conventional windows and doors with laminated glass variants. Strict government regulations regarding energy-efficiency in buildings is another key factor augmenting the market growth.

PEST Analysis
Political: Governments across different regions have implemented various regulations regarding the usage of laminated glass in construction and automotive industries. These regulations influence the market demand.

Economic: Growing construction activities along with rising disposable incomes fuel the demand for laminated glass in residential and commercial infrastructure projects. The cost savings associated with laminated glass also support its adoption.

Social: Increasing awareness about safety benefits of laminated glass in automotive and construction industries influence its preference over normal glass. In addition, aspect of sophistication associated with laminated glass drive its consumption.

Technological: Advancements in lamination technology allow production of glass with enhanced strength, security, and sound control features. Integration of laminated glass with solar control and self-cleaning attributes further augment its application scope in various end-use industries.

The geographical regions where the laminated glass market is concentrated in terms of value are North America and Europe. Stringent government regulations regarding safety and security of buildings and vehicles in these regions contribute to significant market size.

The Asia Pacific region represents the fastest growing regional market for laminated glass. Factors such as rapid industrialization and infrastructure development activities and growing construction of commercial buildings and automotive manufacturing are driving the market growth in Asia Pacific. In addition, increasing disposable incomes and improving living standards in developing countries of the region supplement the regional market expansion.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it