Market Research Institute ApplicationAndSegment recently released a research report that the global tempered glass market will reach 54.13 billion US dollars in 2022. The expansion of demand for automobiles will be the main driver of the growth of the tempered glass market. In addition, with the change in lighting requirements for buildings, the increase in the amount of glass used for building curtain walls and lighting roofs will be one of the driving forces for the growth of demand for tempered glass in the next seven years. Tempered glass products will have greater demand growth as the Asia-Pacific region, including India, China, Indonesia and Malaysia, continues to increase their investment in infrastructure due to their high strength and light weight performance advantages.
Application field
Automotive sector: According to the report, the automotive industry will continue to grow at a compound annual growth rate of 4.0% from 2015 to 2022. Mainly due to the acceleration of industrialization in developing countries in the Asia-Pacific region and Latin America, the increase in disposable income of the middle class will significantly drive the growth of automobile demand.
Construction: The report says the construction industry will see significant growth over the next seven years. Whether it is inside or outside the glass products, the performance requirements will be higher and higher, including appearance, energy saving, high strength, thermal insulation and other characteristics. The increase in requirements will also drive the development of the entire glass industry, thereby further boosting the development of the regional economy.
Market area
Europe: The report said that the compound annual growth rate of the European market during 2015-2022 is expected to be below the global average of 3%. Tempered glass products are commonly used in Europe for fire-resistant glass components, facades for all-glass curtain walls for shops, glass for extreme wind loads, and accessories for fireplaces. However, the decline in demand for automobiles and the weakness of the emerging construction industry will make the demand for tempered glass products basically stagnant.
Asia Pacific: According to the report, demand in the Asia Pacific market will exceed 19% of global demand for tempered glass products by 2022. The low cost of raw materials and skilled labor has led many major automakers to establish their own production bases in the region, which will further expand the demand for tempered glass products.
The report also said that the world's major glass producers, including Saint-Gobain, Asahi Glass, Gideon and Banzizi, will deploy various development strategies, such as establishing R&D centers and strengthening mergers and acquisitions in the region.
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