Jun 1, 2022 SOURCE: BusinessWire

Worldwide Advanced Glass Industry to 2030 - New Innovations in Smart Glass Technology Presents Opportunities - ResearchAndMarkets.com

The "Advanced Glass Market by Type, Application, Product - Global Opportunity Analysis and Industry Forecast, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.

The Global Advanced Glass Market size valued to USD 65.89 billion in 2021, is projected to garner USD 117.93 billion by 2030, witnessing a CAGR of 6.7% from 2022-2030.

Advanced glasses are superior grade glasses, manufactured using soda-ash, natural gas, and silica sand. Depending on its application, these glasses undergo various chemical and mechanical procedures, hence offering highly technical and technological advancements. These glasses have numerous advantages such as resistance to ultra-violet rays, solar control, UV protection, sound reduction, durability, safety, and security. Due to high performance index, these glasses have wide applications in different industry verticals such as construction, automotive, electronics, sports, optics, lighting, as well as aerospace & defense.

The upsurge in urbanization demands better constructions of residential, commercial and industrial infrastructures. The growing demand for advanced infrastructures and modern architectures, are bolstering the global advanced glass market growth. Besides, increasing adoption of advanced glasses in optics, lighting, electronic gadgets, home appliances, and other cutting-edge technologies are to propel the market growth during the forecast period.

However, high-cost raw materials and their accessibility, may hinder the growth of global advanced glass market, during the forecast period.

Moreover, factors like raising demands for value-added materials in infrastructural advancements, stringent building & automobile safety codes, emerging economies proceeding to larger markets, and heavy investments in R&D activities, are to create lucrative opportunities in the global advanced glass market in future.

Market Dynamics

Drivers

Rise in Demand of Advanced Glass in the Automotive Industry is Expected to Propel the Growth of the Market.
Growing Usage of Advanced Glass in Construction Activities and Energy Storage Applications is Another Driving Factor of this Market

Restraints

Rising Raw Material Cost Associated With Advanced Glass May Hinder the Growth of the Market

Opportunities

Advanced Glass Material Products Will Be Ultra-Thin, Large in Size, and Multi-Functional, and Provide High Transmittance. Such Products Will Provide Lucrative Opportunities for the Advanced Glass Market
New Innovations in Smart Glass Technology

Key Market Segments:

Global Advanced Glass Market - By Type