Laminated glass consists of two or more sheets of glass bonded with an interlayer. It provides excellent security and safety against glass fragmentation. The interlayer absorbs any energy from impact and holds the shards together without shattering, thereby protecting from injuries. Growing demand for safety glasses in construction and automotive industries along with increasing regulations regarding vehicle safety standards are driving the demand for laminated glass.
The Laminated Glass Market is estimated to be valued at US$ 27645.52 Bn in 2024 and is expected to exhibit a CAGR of 13.% over the forecast period 2024 to 2031.
Key players operating in The Laminated Glass Market are Agilent Technologies, Inc., F. Hoffmann-La Roche Ltd., Acobiom, Apis Assay Technologies Ltd., Eagle Biosciences, Inc., Beckman Coulter, Inc., PerkinElmer Inc., Biopanda Reagents Ltd, Quanterix, Secure Diagnostics Pvt. Ltd., BioVision Inc., Merck KGaA, R&D Systems, Life Diagnostics, QuantaMatrix Inc., Nanjing Synthgene Medical Technology Co., Ltd, LifeSpan BioSciences, Inc, Wako USA, BioLegend, Inc, Abnova Corporation, and Abbexa
Key Takeaways
Key players: Key players operating in the laminated glass are Agilent Technologies, Inc., F. Hoffmann-La Roche Ltd., Acobiom, Apis Assay Technologies Ltd., Eagle Biosciences, Inc., Beckman Coulter, Inc., PerkinElmer Inc., Biopanda Reagents Ltd, Quanterix, Secure Diagnostics Pvt. Ltd., BioVision Inc., Merck KGaA, R&D Systems, Life Diagnostics, QuantaMatrix Inc., Nanjing Synthgene Medical Technology Co., Ltd, LifeSpan BioSciences, Inc, Wako USA, BioLegend, Inc, Abnova Corporation, and Abbexa
Growing demand: The growing demand from end use industries such as construction and automotive owing to safety standards is estimated to drive the market over the forecast period. Also, rapid urbanization coupled with increasing construction of high rise buildings and infrastructure is propelling the demand.
Global expansion: Key market players are focusing on expansion strategies and entering into untapped markets to gain higher market shares. Growing automotive production across regions such as Asia Pacific and Latin America also supports the global expansion of laminated glass market.
Market key trends
One of the key trends in laminated glass market is the increasing utilization of advanced interlayer materials. Owing to stringent regulations, players are focused on developing innovative polyvinyl butyral, ionoplast polymer and ethylene-vinyl acetate interlayer materials that can offer higher safety and security without compromising glass functionality. The usage of nanotechnology integrated interlayers that are lightweight with superior optoelectronic properties is also gaining traction in the market.
Porter’s Analysis
Threat of new entrants: Laminated glass market requires large capital investments in manufacturing plants and specialized equipment, limiting threat of new firms.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes like tempered glass and polycarbonate sheeting.
Bargaining power of suppliers: Few glass manufacturers globally limits suppliers’ bargaining power.
Threat of new substitutes: Alternatives like polycarbonate sheeting, aluminum composite panels pose threat.
Competitive rivalry: Intense competition between automotive and construction glass manufacturers.
Geographical Regions
North America region holds the major share of the laminated glass market in terms value due to high construction activity and automobile production. The United States contributes significantly to the regional market growth.
Asia Pacific region is expected to be the fastest growing market during the forecast period. Developing nations like China and India are witnessing increasing automotive sales and rapid urbanization, driving the regional demand for laminated glass.
