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Tempered glass market potential: 2024 tempered glass market value will exceed $12.5 billion
Tempered glass market potential: 2024 tempered glass market value will exceed $12.5 billion
Release time:
2018-07-28 08:25
Increasing demand in the construction, automotive and furniture industries will stimulate the development of the tempered glass industry in the region. In addition, the opening of automobile manufacturing companies such as Nissan, Honda and Volkswagen has also had a positive impact on the entire industry.
In the past few decades, the tempered glass market has experienced a gradual and commendable growth process, which is mainly due to the construction, automotive and electronics industries such as large-scale adoption of its products. The continuous expansion of tempered glass applications has also contributed to the market value of tempered glass reaching $24.5 billion in 2016.
It is worth noting that tempered glass products can also be used for greenhouse construction. In fact, the greenhouse construction will be specially selected tempered glass, not only because the product size is diverse, but also more conducive to the efficient operation of the greenhouse. Whether it is a commercial building or greenhouse application, tempered glass is better than ordinary glass in reflecting heat and resisting structural thermal expansion and contraction. There is no doubt that tempered glass has established its important position as an indispensable material, and the market demand for products is increasing, which promotes its market commercialization potential.
According to the analysis of tempered glass industry sales, in the past few years, the construction industry has been dominant in emerging economies such as China, Brazil, India and Malaysia. However, we are also careful to point out that the widespread use of tempered glass in the field of household appliances, kitchenware and furniture is also conducive to the significant increase in the market share of tempered glass from 2017 to 2024.
It is estimated that in 2024, the market value of tempered glass in commercial construction will exceed $12.5 billion, and the market size of tempered glass in the United States will exceed $7.5 billion.
In addition, with the characteristics of durability, heat resistance, high tensile strength and safety, tempered glass is also commonly used in car side windows and rear windows, which also drives product sales. The increasing demand for lightweight and breakage-resistant tempered glass in the automotive market will stimulate the growth of the entire industry.In 2024, the market size of automotive tempered glass is expected to exceed $11 billion.
Emerging economies have been major contributors to the lucrative tempered glass market. From 2017 to 2024, China and Brazil are expected to be the key regions for profit growth in the tempered glass market. Driven by demand in the construction, automotive and electronics industries,China's tempered glass industry is expected to exceed $4.5 billion in 2024. China's new urbanization development plan is committed to building low-carbon cities, which will promote the demand for tempered glass in China's cities and commercial areas. The rapid development of the economy and the increase in consumption of electronic products such as microwave ovens, refrigerators and washing machines,The Brazilian tempered glass market is expected to grow at a compound annual growth rate of 5.6 percent from 2017 to 2024..
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