Tempered Glass Market set for rapid growth| $40 Mn By 2024
Date: 2019-05-17   Author: Rahul Varpe  Category: #industry

Tempered Glass Market set for rapid growth| $40 Mn By 2024

Tempered glass market demand from furniture applications may surpass USD 1.3 billion by the end of forecast period. These are highly used in table tops, book shelves, cabinets, television stands and side tables construction. Increasing household expenditure for interior decorations in order to accentuate the overall appeal and safety purposes will drive industry growth.

Growth in commercial construction such as offices, malls, hospitals and hotels accompanied with rise in infrastructure spending should drive tempered glass market demand. Rising awareness regarding energy-efficient buildings owing to high threat of GHG emissions and increasing usage of solar thermal panels for electricity generation will stimulate market demand. It is four to five times stronger than the normal or annealed glass providing resistance to thermal breakage and antibreakage properties leading to high safety and security.

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According to a new research report by Global Market Insights, Inc. Tempered Glass Market size is likely to exceed USD 40 billion by 2024.

Tempered glass market demand from furniture applications may surpass USD 1.3 billion by the end of forecast period. These are highly used in table tops, book shelves, cabinets, television stands and side tables construction. Increasing household expenditure for interior decorations in order to accentuate the overall appeal and safety purposes will drive industry growth.

Toughened glass is used for protecting the screens of various gadgets such as smartphones, tablets and laptops. Tempered glass market from gadget applications may expect gains at over 5% by 2024 owing to increase in phone usage among the youth population. Growing smartphone market in Poland, Taiwan, Australia, and Brazil is likely to drive market demand.

Tempered glass market demand from residential construction is expected to surpass USD 6.5 billion owing to rising middle class population, increasing disposable income and willingness to spend money on household refurnishing will drive market growth. These are in compliance with residential building codes where they are installed in home to reduce death or injury risk.

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North America led by the U.S. and Canada tempered glass market demand may register growth at over 4% by the end of forecast period. High economic conditions along with increasing government spending on infrastructure facilities should foster regional growth.

Europe, led by Germany, UK and France toughened glass market should exceed USD 9.5 billion by the end of foreseeable timeframe. Rising construction spending in residential sector owing to massive movement of immigrants to western European countries such as Germany and the Netherlands may fuel regional industry growth. Moreover, various automobile giants such as BMW, Mercedes and Audi are based in Europe which is positively affecting the tempered glass market demand.

Asia Pacific led by China, India and Japan tempered glass market is likely to exceed USD 15 billion by 2024. Increase in number of greenhouses along with rapid growth in industrial and commercial construction should favor regional market growth. Increase in automotive industry along with rise in consumer awareness regarding safety may drive industry growth.

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Global tempered glass market share is competitive and moderately fragmented with industry players include Guardian Industries, Fuso, Asahi, PPG Industries, and Abrisa Technologies. Manufacturers are focusing on enhancing their product portfolio and global reach by establishing partnerships and acquisitions.
 



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Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for AlgosOnline. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. ...

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