Fire-resistant Glass Industry Overview
The global fire-resistant glass market size to be valued at USD 5.92 billion by 2028 and is expected to grow at a compound annual growth rate (CAGR) of 4.3% during the forecast period.
The rising number of fire accidents coupled with expansion in the construction industry is anticipated to augment the market growth over the forecast period. Rising instances of fire mishaps have prompted increased spending by the national governments globally to improve the fire safety of buildings, including residential and commercial. In addition, the growing demand for urban housing projects and high-rise buildings owing to the shift of population toward urban economic centers has led to the development of various residential projects with suitable fire safety standards. These factors are anticipated to drive the market over the forecast period.
Gather more insights about the market drivers, restrains and growth of the Global Fire-resistant Glass market
As per the U.S. Fire Administration (USFA), in 2019, there were 1,291,500 fire incidents in the country, which caused 3,704 deaths, 16,600 injuries, and a loss of USD 14.8 billion. This has led to the growing awareness pertaining to the installation of fire safety products in buildings, which is anticipated to boost fire-resistant glass consumption in the country in the coming years. Moreover, the rising spending capability of consumers along with increasing instances of fire mishaps in the past few years are anticipated to drive the market over the forecast period. Growing demand from automotive aftermarket and increasing military spending also contribute to the market growth.
The market witnessed a decline in 2020 on account of the COVID-19 pandemic. All market players in the industry value chain were impacted because of the pandemic. The crisis has posed new challenges, which include fluctuations in raw material prices, unemployment, minimal production, mandatory shutdowns in manufacturing, and disruptions in logistics, which hampered the market growth during the crisis. The market scenario started recovering in the second half of 2020. All factories, logistics centers, supply chains, and project sites were shut until May-June 2020. Post which, companies started ramping up their operations. The industries are putting in extra efforts to recover from their losses incurred in 2020.
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Fire-resistant Glass Market Segmentation
Grand View Research has segmented the global fire-resistant glass market on the basis of product, application, and region:
- Fire-resistant Glass Product Outlook (Revenue, USD Million, 2017 – 2028)
- Fire-resistant Glass Application Outlook (Revenue, USD Million, 2017 – 2028)
- Building & Construction
- Fire-resistant Glass Regional Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- Asia Pacific
- Central and South America
- Middle East & Africa (MEA)
Key Companies profiled:
Some prominent players in the global Fire-resistant Glass market include
- AGC, Inc.
- Nippon Sheet Glass Co., Ltd.
- POLFLAM sp. z o.o.
- Shandong Hengbao Fireproof Glass Factory Co., Ltd.
- Diamond Glass
- Safti First
- Schott AG
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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