Tempered Glass Market is segmented by End User Type (Automotive, Construction, Consumer Electronics, and Others)and Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The U.K., Russia, and Rest of Europe], Asia-Pacific [China, Japan, India, South Korea, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, Israel, and Others]).
Tempered Glass Market is segmented by End User Type (Automotive, Construction, Consumer Electronics, and Others) and Region (North America [The USA, Canada, and Mexico], Europe [Germany, Franc...
The tempered glass market was estimated at US$ 47 billion in 2021 and is expected to grow at a CAGR of 7.2% during 2022-2028 to reach US$ 84 billion by 2028.
In order to make tempered glass, annealed glass is thermally treated. This toughens the glass. The annealed glass is heated throughout the manufacturing process to a temperature between 560°C and 650°C, and then the temperature is quickly dropped after heating. High temperature resistance and strength against impact are two advantages of tempered glass. It mostly finds use in the automotive and construction industries.
Toughened glass is another name for tempered glass. Because of its greater thermal shock and temperature resistant qualities and stronger tensile (bending strength), it is commonly employed in infrastructure development and building. Recently, both wealthy and emerging nations have seen an increase in demand for innovative interior infrastructure. Demand is primarily high from residential and commercial structures. In interior design, ornamental panels made of tempered glass are one option.
Shanghai North Glass Technology Industrial Co., Ltd.
Fuyao Glass Industry Group Co. Ltd.
Tyneside Safety Glass
There is stiff competition in the tempered glass market. The growth of the companies is directly dependent on the industry conditions and government support. These companies differentiate their Tempered Glass based on their quality and penetration in the target and emerging markets. Also, some major mergers and acquisitions in the industry recently have significantly influenced the competitive dynamics. For example:
A tempered and speciality glass manufacturer, Cleer Vision Windows Inc., was bought by Airxcel Inc. in 2021, expanding both the company's product line and its clientele.
By investing USD 1.95 million in 2020, TOMAKK GLASS PARTNERS LLC expanded its line of goods and services by opening a tempered glass manufacturing facility in Shreveport, Louisiana, in the United States.
Market Dynamics
The ongoing expansion of the building sector, particularly in developing nations, and the rising consumer use of tempered glass or toughened glass as a mobile accessory are the main drivers propelling the growth of the global tempered glass market. The demand for the worldwide tempered glass market would also increase over the forecast period as a result of rising government spending on infrastructure development and fast urbanization in developing nations like India.
Tempered glass is becoming more widely used in a variety of industries, such as construction, automotive, home furnishings, consumer electronics, and home furnishings, as a result of its superior performance to conventional annealed glass in terms of design flexibility, heat resistance, lightweight, and tensile strength. This will support the market's expansion.
The demand for tempered glass for various building projects increased as a result of the global construction industry's estimated 2019 value of USD 12 trillion and its 4% annual growth rate.
Contrarily, the popularity of tempered glass, which is utilized as a screen protector glass in a variety of consumer electronic goods, has increased due to the rapid digitization and the growing uptake of smart consumer electronics like laptops, smartphones, tablets, and others. For instance, the Economic Times said that the smartphone market has experienced 11% year-over-year growth, with shipments rising from 150 billion in 2020 to 168 billion in 2021. This is expected to boost tempered glass sales in the expanding consumer electronics industry, opening up profitable potential for the market.
Segment Analysis
End-User Trends
Automotive, Construction, Consumer Electronics, and Others are the end users. The construction market held the largest sharein 2021. The larget share is mainly due to sustained economic growth coupled with a rise in foreign direct investment (FDI) inflow in the construction sector where tempered glass is widely employed as toughened glass in mirrors frames, doors, and others.
For instance, according to the data released by the Department for Promotion of Industry and Internal Trade (DPIIT), the industry attracted foreign direct investment (FDI) worth $25.38 billion from April 2000 to June 2021. This is expected to propel the growth of the construction segment in the global tempered glass market.
Regional Analysis
Asia Pacific is likely to maintain its largest share in the tempered glass market throughout the forecast period. Due to the considerable increase in the automobile industry among developing economies like China, India, and Malaysia over the course of the projected period, Asia-Pacific is expected to dominate the market.
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Relevant contents in the report
How big is the sales opportunity?
In-depth analysis of the Tempered Glass Market
How lucrative is the future?
Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional and country level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
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Target Audience
Here is the list of the group of customers that the market hopes to have the greatest opportunity to convert-
Distributors
Suppliers
Manufacturers
Logistics organizations
Government bodies
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
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Asia Pacific is likely to maintain its largest share in the Tempered Glass market throughout the forecast period. Due to the considerable increase in the automobile industry among developing economies like China, India, and Malaysia over the course of the projected period, Asia-Pacific is expected to dominate the market.
The ongoing expansion of the building sector, particularly in developing nations, and the rising consumer use of tempered glass or toughened glass as a mobile accessory are the main drivers propelling the growth of the global tempered glass market. The demand for the worldwide tempered glass market would also increase over the forecast period as a result of rising government spending on infrastructure development and fast urbanization in developing nations like India.
