According to the latest report by IMARC Group, titled "Tempered Glass Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global tempered glass market size grew at a CAGR of 6% during 2014-2019. Tempered glass refers to a kind of safety glass made by uniformly heating annealed glass to a high temperature and then cooling it immediately. The glass undergoes conduction, convection and radiation during the production process, which attributes it with high thermal and mechanical strength. It can also withstand high-temperature changes, which reduces the chances of breakage. Even in the case of damage, the glass disintegrates into small and relatively harmless globules that make it ideal for everyday usage. Apart from this, it is light in weight, scratch resistant and thermal shock resistant and offers design versatility. As a result, it is widely used as an indispensable component in the construction, automobile and consumer electronics sectors.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Tempered Glass Market:
The global market is primarily driven by the significant growth across numerous end use sectors. Tempered glass is widely utilized as a screen protector in various smart consumer electronics, such as smartphones and tablets, due to its enhanced durability, thermal shock resistance and tensile strength. It is also used as an essential component in the construction industry to manufacture numerous interior and exterior elements of various structures, including windows, sliding doors and elevators. The market is also driven by the continuous renovation activities across the residential and commercial sectors, as tempered glass is widely replacing conventional annealed glass for improved safety and strength. Apart from this, the rising adoption of tempered glass in the automotive industry and the growing utilization of these variants for the production of thin-film solar panels are acting as other major growth-inducing factors. Other factors, such as rapid urbanization and increasing infrastructural development across the globe, are creating a positive outlook for the market. However, the market is projected to be negatively impacted by the COVID-19 pandemic in 2020. From 2021 onwards, we expect the market to recover and grow at a moderate rate during 2021-2025.
- On the basis of the type, the market has been bifurcated into plain and colored glass.
- Based on the shape, the market has been divided into the flat and bent tempered glass.
- On the basis of the application, the market has been classified into construction (residential, commercial and industrial), automotive (rear and slide windows), home appliances (refrigerators, washing machines, and microwave and ovens), gadgets (smartphones, tablets, and laptops and computers) and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa (Turkey, Saudi Arabia, the United Arab Emirates, South Africa and others).
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include AGC Group, Dlubak Specialty Glass Corporation, Koch Industries, Inc., Pilkington Group Limited, Press Glass S.A., Romag Limited, Saint-Gobain Group, Taiwan Glass Ind. Corp., Virginia Glass Products Corporation, and Fuso Glass India PVT Ltd.
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