The Heat Resistant Glass Market analysis report released by FMI, estimates the current revenue generated by sales of this product worldwide to be around USD 4.8 Billion. Further, by the year 2032, the net worth of the global heat resistant glass is predicted be around USD 7.5 Billion and is predicted to register a fair CAGR of 4.3% through these forecast years.
| Attributes | Details |
|---|---|
| Market Size Value (2022) | USD 4.8 Billion |
| Market Size Value (2032) | USD 7.5 Billion |
| Market Growth Rate (2022 to 2032) | 4.5% |
Over much of the forecast years, it is predicted that the growing fire incidents and increase in safe building projects would accelerate the demand for heat-resistant glass. Worldwide, national disaster management authorities, as well as international organizations, are investing more money to boost fire prevention and mitigation measures for all types of buildings, including commercial and residential ones, in response to an increase in fire-related incidents.
So over forecast years, Asia-Pacific is predicted to increase at the quickest rate as the demand for heat-resistant glass is projected to increase, particularly in developing nations, as building projects in these regions are growing and fire incidents occur more frequently.
Over the last couple of years, the automotive manufacturing sector has emerged to be a noteworthy end-user vertical of the global heat resistant glass industry. Heat resistant glass is widely used in rooftop and side-view window panels in passenger cars seat as well as commercial vehicles. Some high-end or luxury car manufacturers also utilize heat resistant glass for designing the interiors.
Automobile manufacturers are now stressing the use of heat resistant glass due to the rising popularity of safe and dependable automobiles. Moreover, the International Organization of Motor Vehicle Manufacturers estimates that during the next five years, the demand for such vehicle sales is poised to climb by 4.9% creating huge opportunities for the heat resistant glass market players.
As per the heat resistant market survey report of 2021, the ceramics section represented more than 40% of total sales achieved globally. This significant proportion can be linked to an increasing trend in the construction of residential and commercial buildings toward insulated glass modules, which offer better fire standards and can survive the thermal shock of water sprinkling from fire hoses. As a result, it is also anticipated that such favorable properties of ceramic glass would render it the fastest-growing segment during the forecast years as well.
Unfortunately, stringent government restrictions in recent years for governing the production of heat resistant glass, combined with the growing cost of raw materials used to make such glass, are anticipated to pose a major challenge for the heat resistant glass market players. On the contrary, greater federal expenditure on the up gradation of military assets and infrastructure may probably open new doors for the expansion of the use of heat resistant glass and its market value.
Heat resistant glass is a specialty glass specifically designed to withstand high temperature in smart kitchen appliances and industrial applications. Structure of heat resistant glass usually comprise soda lime or silica, which are high temperature resistant materials. These types of glasses have high melting point and low coefficient of expansion.
Global heat resistant market is gaining traction due to increasing safety concerns and formulation of new regulations in commercial and industrial sector. Heat resistant glasses not only resist fire but are also capable of working as insulators thus helping to maintain constant temperature requirement. Evolution of green building concept and aesthetic designs in architectures and interior of buildings are increasingly making use of heat resistant glass surfaces and doors to improve safety, aesthetics and comfort level for occupants in buildings.
This has also led to consistent increase in the demand of heat resistant glass, globally. New product development initiatives by key companies such as use of heat resistant glass for oven dishes, heat resistant bottles and jars, woodstove etc. has provided significant boost to global demand of heat resistant glass.
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Heat resistant glass is manufactured in various shapes and size and used as a medium to retain heat and refract light. Heat resistant glass is strengthened through thermal and chemical treatment processes which helps change in breakage pattern, causing it to shatter in to small pieces instead of sharp angles which helps in reducing damage. Heat resistant glass also helps in acoustic insulation to some extent thus providing added benefit to end user or civil contractors.
Rapid industrialization in developing economies coupled with urbanization trend and substantial infrastructure investments are some of the macro-economic factors supporting growth of global heat resistant glass market. Furthermore global heat resistant glass market is also driven by the growing safety concerns in commercial buildings and hospitals aimed at reducing fire based hazards. In addition increasing consumption of heat resistant glass in aerospace, automotive and transportation sector to enhance cabin comfort is expected to further drive consumption of heat resistant glass globally.
Lack of consumer awareness, high cost and technical limitations such as heat resistant glass not being good thermal conductor which on sudden change in temperature leads to expansion and contraction which may trigger breakage. To overcome such restraints heat resistant coatings on flat glass are applied for use in automobile and in commercial building which is acting as substitute of heat resistant glass. Some of these aforementioned factors are expected to restrain growth of global heat resistant glass market.
Heat resistant glass market place is marked with the presence of manufacturers, glass fabricators, distributors, and importers. In case of construction industry, role of small and medium scale fabricators and component providers become very important as the demand from construction industry differs in terms of volume, shape, size and specifications.
Civil contractors, architects and designers mostly rely on fabricators and distributors for their activities. Some examples of heat resistant glass market participants include Cincinnati Gasket Industrial Glass Products and Solutions, Asahi Glass Co.,Ltd., Corning Incorporated, SCHOTT North America, Inc.,SCHOTT AG, CoorsTek, Inc., Vesuvius PLC, Nippon Sheet Glass Co., Ltd., CeramTec and others.
The heat resistant glass market research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, and geographies.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The market is likely to register a CAGR of 4.5% through 2032.
The market is currently valued at USD 4.8 Billion in 2022.
The market is likely to grow to a valuation of USD 7.5 Billion by 2032
Asia Pacific is likely to be a leading market during the forecast period.
The global heat resistant glass market is segmented on the basis of material type, based on heat resistant temperature capacity of the glass, by application and by region.
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Heat Resistant Glass Market
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