The global fire resistant glass market size is expected to
reach USD 7.28 billion by 2024, according to a new report by Grand View
Research, Inc. Rising demand for fire resistant glass owing to the increasing
investments by the regional governments on infrastructure development in
emerging regions including Asia Pacific and the Middle East is expected to
drive the market over the next eight years.
Rising application scope in the
marine industry pertaining to increasing demand for fire proof cabins in ships
used for commercial and naval applications is expected to drive the demand over
the next eight years. Moreover, rising investment in ship manufacturing activities
from emerging economies such as China and India are expected to drive the
demand over the forecast period.
Increased use of fire resistant
automotive glass by the automotive manufacturers, on account of growing demand
from consumers to enhance the safety standards of the vehicles is expected to
propel the demand. Moreover, growing technological innovations along with
rising fire safety standards of the vehicles globally are likely to augment
demand over the next eight years.
Ceramic glass accounted for over
40% of the market in terms of volume on account of fire resistant and sound
insulation properties. Growing use of the product in fire doors is likely to
drive the market demand over next eight years.
For Full Research Report On Fire Resistant Glass Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/fire-resistant-glass-market
Further key
findings from the report suggest:
- The global fire resistant
glass market demand was 13.4 million square meters in 2015 and is expected
to reach 30.5 million square meters by 2024, recording a CAGR of 9.6% from
2016 to 2024.
- Gel filled glasses are
expected to be the fastest growing product segment registering a CAGR of
over 15% from 2016 to 2024. Ability to maintain relatively low temperature
on the non-fire side of the affected building by acting as a fire shield
on account of the heat absorbing capabilities of the gel is likely to fuel
the growth of market over next eight years.
- Other applications including
automotive, oil & gas and, military & defense are expected to
register a CAGR of around 9% from 2016 to 2024 accounting for 19.6% of
total market volume in 2015. Rapid growth in the automotive industry in
the emerging economies such as Asia Pacific and Latin America owing to
increasing demand for automobiles and rising disposable income of
consumers is expected to drive the growth over the forecast period.
- Ceramic glass held the
largest market share, owing to its wide application scope in various end
use industries including construction, automotive, oil & gas, and
marine. Growing application scope on account of its prolonged fire rating
ranging from 20 minutes to 3 hours is expected to drive the market demand
for the product over the forecast period.
- Asia Pacific accounted for a
significant market share of around 19% in 2015. Ready availability of raw
material coupled with cheaper manufacturing costs are expected to drive
the market growth. The region is also projected to witness the growth of
11% from 2016 to 2024.
- The industry is moderately
fragmented with the presence of a large number of prominent market
participants across the globe. Some leading companies operating in the
global market include Saint-Gobain, Pyroguard UK Ltd, Schott AG, NSG
Pilkington, and Asahi Glass Co. Ltd. Saint-Gobain SA is a producer and
distributor of construction and high-performance materials and packaging
headquartered in France. The company operates in four business segments
including innovative materials, high performance materials, construction
products and building distribution.
- In July 2015,
Saint-Gobain agreed to buy Oregon-based Structus Building Technologies, a
manufacturer of innovative, high-performance drywall corner solutions.
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Grand View Research has segmented
the global fire resistant glass market by product, application, and region:
Fire Resistant
Glass Product Outlook (Volume, Million Square Meter; Revenue, USD Million, 2013
- 2024)
- Wired
- Ceramic
- Tempered
- Gel Filled
Fire Resistant
Glass Application Outlook (Volume, Million Square Meter; Revenue, USD Million,
2013 - 2024)
- Construction
- Marine
- Others
Fire Resistant
Glass Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
- North America
- U.S
- Europe
- Germany
- UK
- Asia Pacific
- China
- India
- Latin America
- Brazil
- Middle East and Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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