The Global Tempered Glass Market is estimated to grow at a CAGR of 5.42% over the forecast period as the scope and its applications are rising enormously across the globe. Tempered Glass, also termed as “toughened glass”, is processed by heating the glass under extreme temperature and then rapidly cooling it in a controlled treatment process to raise its strength. It is four times stronger than ordinary glass. It is exclusively used in shower doors, ovens, windows, coffee machines, and computer screens.
High spending by consumers on interior designing, developing automotive and construction industries in developing countries, and rising use of tempered glass in furniture are documented as major factors of Tempered Glass Market that are estimated to enhance the growth in the years to come. However, growing several alternatives like laminated glass may restrain overall market growth in future. Tempered Glass Market is segmented based on end user and region.
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Automotive, construction industry, furniture, greenhouse, gadgets, home appliances, and others are the end users that could be explored in Tempered Glass in the forecast period. The construction sector accounted for the substantial market share of Tempered Glass and is estimated to lead the overall market in the coming years. This may be because of rising use for washbasins, building facades, shower enclosures, glazed doors, and partitions, government initiative and availability of favorable schemes. In addition, automotive sector is estimated to grow at fastest pace with highest CAGR in the coming years.
Globally, Europe accounted for the substantial market share of Tempered Glass and is estimated to lead the overall market in the coming years. The reason behind the overall market growth could be presence of key automobile manufacturers in the region and growth in smartphone penetration. Russia, England, Germany, and France are the major consumers of Tempered Glass in this region.
Asia Pacific is also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the foremost period. The aspects that may be ascribed to the growth comprise developing infrastructures and key industries in the region and rising demand for smartphones. The developing countries like India and China are the major consumers of Tempered Glass in this region.
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The key players of Tempered Glass Market are Fuyao Group, Guardian industries, Tyneside Safety Glass, Saint-Gobain SA, Shanghai North glass Technology & Industry Co., Ltd., Asahi Glass Company (AGC), AYG Coating Glass Co., Ltd., AFG Industries, Pilkington, NSG Group, Cardinal FG, and PPG Industries. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
The market is divided into the following segments based on geography:
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/glass
Global Tempered Glass Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
• Asahi Glass
• Cardinal Glass Industries
• Koch Industries
• Nippon Sheet Glass
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