Upsurge in demand from automotive & construction industry coupled with increased consumer expenditure on interior designing of their houses boosts the global tempered glass market.
According to a new report published by Allied Market Research, titled, “Tempered glass Market by End-Use Industry: Global Opportunity Analysis and Industry Forecast, 2017-2023,” the global tempered glass market was valued at $46 billion in 2016, and is projected to reach at $65 billion by 2023, registering a CAGR of 5.0% from 2017 to 2023.
Tempered glass or toughened glass is one of the types of flat glass, which is four times stronger than annealed glass. Tempered glass finds wide range of usage in automotive and construction applications. It is manufactured during the preparation of flat glass. Silica mix is heated up to 600°C and then rapidly cooled to produce tempered or toughened glass. Tempered glass also finds its application in furniture and interior building activities.
Download Sample: https://www.alliedmarketresearch.com/request-sample/3786
Growth in the automotive and construction industry in the emerging economies such as, India, Brazil, UAE, Saudi Arabia, and Africa majorly drives the tempered glass market. Moreover, the increased consumer expenditure on interior designing of their houses boost the market growth. In addition, the increased usage of tempered glass in furniture support the growth. However, the market growth for tempered glass is restricted by the stringent regulations towards automotive and building & construction industry.
In 2016, the construction segment accounted for the highest share in 2016, registering a CAGR 5.1% from 2017 to 2023. The segment is driven by its increased construction projects in countries like India, Singapore, Latin America, and Middle-East. The automotive segment is projected to witness the highest growth during the forecast period because of the increased production of automobile in China, and Europe.
The tempered glass market in Middle East is estimated to be the largest in the LAMEA region and is estimated to attract manufacturers during the forecast period. Growth in construction projects in countries like UAE, Qatar, and Saudi Arabia drives the market in the region.
Do Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/3786
In 2016, the construction segment accounted for the highest share, and is expected to maintain its dominance during the forecast period, owing to the upsurge in construction and renovation projects globally.
Asia-Pacific and Europe collectively contributed about 81% share of the global market in 2016 owing to the increased consumption of tempered glass from automotive industry. Also the construction and renovation activities in Asia-Pacific and Europe respectively drives the market.
Key Findings of the Tempered Glass Market:
- Asia-Pacific was the leading region in the global tempered glass market in 2016, followed by Europe
- The construction segment generated the highest revenue in 2016, and is projected to grow at a CAGR of 5.1% during the forecast period
- The automotive segment is projected to witness the highest growth rate of 5.8% during the forecast period
- The Asia-Pacific tempered glass market is anticipated to register the highest CAGR of 5.2%, followed by LAMEA
- Europe accounted for approximately one-sixth share in the global market, and is expected to grow at a CAGR of 4.8%.
Leading market players:-
The key players profiled in the report include Saint-Gobain, Guardian Industries, NSG Group, Asahi Glass Company (AGC), PPG Industries, AFG Industries, Pilkington, Cardinal FG, Shanghai Northglass Technology & Industry Co., Ltd., and AYG Coating Glass Co., Ltd.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Company Name: Allied Market Research
Contact Person: David Correa
Email: Send Email
Address:5933 NE Win Sivers Drive #205, Portland, OR 97220
State: United States
Country: United States