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The fire-resistant glass market is estimated to grow at a CAGR of 9.98% between 2022 and 2027. The size of the market is forecast to increase by USD 2,944.32 million. The growth of the market depends on several factors, including a rise in the development of commercial infrastructure, stringent regulations supporting improved fire safety standards, and global growth in the commercial sector.
This report extensively covers market segmentation by application (building and construction, marine, and others), product (ceramic fire-resistant glass, laminated fire-resistant glass, wired fire-resistant glass, and tempered fire-resistant glass), and geography (APAC, Europe, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The reports categorize the global fire-resistant glass market as a part of the global building products market covering companies engaged in the production of building components like windows and doors; flooring; ceiling and wall fixtures; roofing and gutter materials; insulation materials; cabinets; plumbing fixtures; and home improvement products and equipment. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The rise in the development of commercial infrastructure is notably driving market growth, although factors such as high competition among vendors may impede market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Fire-resistant Glass Market Driver
The rise in the development of commercial infrastructure is notably driving market growth. Emerging economies, such as India, China, and other Asian countries, have witnessed a rapid increase in the urban population over the past decade. The increase in the global urban population has propelled infrastructure construction activities, such as the construction of residential buildings, roads, malls, and commercial properties.
Urban areas have been expanding, in terms of radius and height, along with the growth in the urban population. The construction of high-rise buildings is encouraging fire-resistant glass manufacturers to add advanced and innovative offerings, which can efficiently meet the specific demands of the construction industry, to their product lines.
Furthermore, fire safety systems are mandatorily required at airports, restaurants, and educational institutions. Even a small fire can result in a serious safety threat to the large population in these commercial spaces, owing to high footfalls. For instance, in November 2022, a Federal Express plane caught fire at Calgary International Airport in Canada. Hence, the development of commercial infrastructure is aiding the adoption of fire-resistant glass in construction, which, in turn, is likely to boost the growth of the market during the forecast period.
Significant Fire-resistant Glass Market Trend
The increasing number of skyscrapers is the primary trend in the market. The increasing migration of people from rural areas and small towns to metropolitan cities for better opportunities and an improved lifestyle is leading to the rise in urbanization and driving the preference for modern architecture.
As a basic prerequisite, skyscrapers require structural resilience with regard to resisting fire and limiting the fire spread. In these respects, fire-resistant glass is very effective as part of the fire safety compartmentation and fire separation strategy that uses the construction and layout of a building to contain and isolate a fire. This is also leading to investments in skyscrapers. Various countries are investing in the development of skyscrapers. Hence, the rise in the number of skyscrapers worldwide will lead to increasing demand for glass curtain walls, which, in turn, will drive the growth of the global fire-resistant market during the forecast period.
Major Fire-resistant Glass Market Challenge
High competition among vendors is the major challenge impeding market growth. The market generates billions of dollars in revenue each year, but on the other hand, it faces a number of challenges, one of them being the highly saturated nature of the market. There is a very high market concentration in the construction glass industry, especially in densely populated urban centers that often account for the highest growth in the construction sector. The majority of construction glass applications come from skyscrapers or other high-rise buildings, which are usually more prevalent in urban areas owing to the shortage of space. These buildings offer high revenue potential to builders and land developers, thus making them a prime target for glass suppliers.
Building contractors have bargaining power in the market, as there is a surplus of glass suppliers to choose from. This excess supply from both local and international players will put downward pressure on pricing and thus make the market unattractive to new players. Thus, the high competition in the market will reduce the profit margin of the vendors, which will negatively impact the growth of the market during the forecast period.
Key Fire-resistant Glass Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Fire-resistant Glass Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Technical Glass Products Inc. - The company offers fire-resistant glass such as FireLite, FireLite Plus, FireLite Plus WS, FireLite Plus NT, FireLite Plus IGU, and Fireglass 20. The company offers fused quartz tubing, fused quartz rods, plates and discs, microscope slides, fused quartz joints, fused quartz labware, fused quartz wool and felt, and fritted discs.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth of the building and construction segment will be significant during the forecast period. The growth is majorly attributed to rapid industrialization and increasing construction activities in developing countries, such as China, Thailand, Malaysia, and Indonesia, where the use of construction glass is increasing. Moreover, the global construction glass market for new buildings is witnessing steady growth in the US and the Middle East. Both residential and industrial building spending in the US is witnessing stable growth.
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The building and construction segment was valued at USD 1,745.19 million in 2017 and continued to grow until 2021. The rising level of urbanization can increase the demand for new residential buildings and thereby influence the demand for fire-resistant glass for construction applications. Moreover, there is an increase in investments in construction projects across the world. For instance, in August 2021, Amazon announced that it was expanding its offices in six US cities: New York, Phoenix, San Diego, Denver, Detroit, and Dallas. Hence, such an increase in construction activities will increase the demand for fire-resistant glass from the building and construction segment during the forecast period
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APAC is estimated to contribute 55% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
APAC was the largest geographical segment of the global fire-resistant glass market in 2022 and will continue to remain the largest segment during the forecast period. APAC is the fastest-growing region in the global fire-resistant glass market. The market in APAC is dominated by developing countries such as China and India. Japan and Australia also contribute to significant revenue growth in the market owing to strict regulatory mandates and increased awareness of the need for fire safety compliance across end-user industries. Over the last decade, APAC is witnessing a growth in real estate development, which directly impacts the sales of fire safety systems, which in turn contributes to the demand for fire-resistant glass. The presence of well-defined building codes across several countries, such as Japan, China, Australia, Singapore, and India, has mandated the installation of fire safety systems, which require the use of fire-resistant glass.
COVID-19 negatively affected the growth of the market in APAC. However, government incentives to support economic activities may encourage the setting up of new industrial units and building construction, which, in turn, will drive the growth of the market in the region during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Fire-resistant Glass Market Scope |
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Report Coverage |
Details |
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Page number |
168 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.98% |
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Market growth 2023-2027 |
USD 2,944.32 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
9.25 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 55% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AGC Inc., Asahi India Glass Ltd., Saint Gobain, Crane Co., FG Glass Industries Pvt. Ltd., Fuso Glass India Pvt. Ltd., Metek Co. Ltd., Nippon Sheet Glass Co. Ltd., OKeeffes Inc., Pacific Fire Controls Pvt. Ltd., Press Glass Holding SA, Pyroguard UK Ltd., Ravensby Glass Co. Ltd., SCHOTT AG, Shenzhen Sun Global Glass Co. Ltd., Siddhi Engineering Co., and Technical Glass Products Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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