The global tempered glass market is expected to grow at a CAGR of more than 5% from 2018-2022, according to a new market research report by Technavio.
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Technavio has published a new market research report on the global tempered glass market 2018-2022 under their chemicals and materials library.
Global tempered glass market segmentation by end-user and geography
Technavio’s report on the global tempered glass market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by end-user, including construction and automotive. As projected in 2017, around 52% of the market share originated from construction.
Based on geography, the global tempered glass market has been segmented into APAC, the Americas, and EMEA. As of 2017, 46% of the market share came from APAC.
“APAC dominates the global tempered glass market; however, the market share is expected to increase by 2022. The high demand is attributed to the construction industry owing to the high pace of urbanization, higher standard of living, and the rise in disposable income,” says a senior analyst at Technavio for glass and ceramics research.
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Tempered glass market: competitive vendor landscape
The global tempered glass market is moderately fragmented. Asahi Glass, Cardinal Glass Industries, Koch Industries, Nippon Sheet Glass, SGG, and Vitro are the key vendors in the market. Quality, price, and innovation are some of the factors that the players in the market compete on. The key vendors are focusing on increasing their global footprint and are expanding into developing countries through mergers and acquisitions or partnerships with the regional vendors.
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Other topics covered in the report:
Market drivers:
- Increasing demand for smartphone and laptops
- Stringent regulations on limiting CO2 emissions
Market challenges:
- Processing challenges
- Increasing use of plexiglass
Market trends:
- Anticipated use of tempered glass in photovoltaics
- Technical progress in glass market
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