Fire Resistant Glass Market Value To Reach $7.28 Billion By 2024: Grand View Research, Inc.
The
global fire resistant glass market 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.
U.S fire resistant glass market, by application, 2013 - 2024 (USD Million) |
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.
Full
Research Report On Global Fire Resistant Glass Market Analysis:
www.grandviewresearch.com/industry-analysis/fire-resistant-glass-market
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 fire resistant glass 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.
View more
reports of this category by Grand View Research at:
www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
Grand View Research has segmented the fire resistant glass market by
product, application, and region:
Global
Fire Resistant Glass Product Outlook (Volume, Million Square Meter; Revenue,
USD Billion, 2013 - 2024)
- Wired
- Ceramic
- Tempered
- Gel
Filled
Global
Fire Resistant Glass Application Outlook (Volume, Million Square Meter;
Revenue, USD Million, 2013 - 2024)
- Construction
- Marine
- Others
Global
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
View press
release of this research report by Grand View Research:
www.grandviewresearch.com/press-release/global-fire-resistant-glass-market
www.grandviewresearch.com/press-release/global-fire-resistant-glass-market
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.
For more
information: www.grandviewresearch.com
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