Chinese Bulletproof Security Glass Market to See Significant Growth
The global bulletproof glass market has witnessed rapid expansion in the past decade, according to a recent report from Research and Markets, with the U.S. and China representing the largest markets. The market in China, which is expected to grow at a compound annual growth rate of 16.8% from 2015-2019, is worth paying attention to for two reasons: its growth rate (the fastest displayed by the market) and its sheer size. The financial services, construction, and automotive industries remain the largest end-users of bulletproof glass; the scope of its usage is rapidly expanding.
The bulletproof security glass industry in China has relatively low entry barriers. As a result, an influx of new players that operate based on price is anticipated. This often leads to a contraction in the margins of vendors and, as a result, they have to constantly strive to sustain those margins. Energy and environmental costs are significant in the industry, as the glass manufacturing process is energy intensive. Therefore, most of the players are embarking on innovation and are making large investments in R&D. Going forward, most of the vendors in China are expected to continue working in the above focus areas in order to maintain their margins and survive the competition in the market.
According to the report, the country is on the path of liberalization and is opening up the industry to foreign investment. Government initiatives are expected to lead to an increase in new investment and a greater number of banking outlets and ATMs across the country. This, in turn, should lead to an increase in demand for bulletproof glass.
Bulletproof glass, also known as bullet-resistant or ballistic glass, is a strong and optically transparent glass used for protection against the impact of bullets or any other ammunition. It is made by combining two or more layers of different materials, usually one hard and the other soft. The refractive index of both of the glasses used in the manufacture of bulletproof glass should be the same to make it transparent. Its thickness varies from 0.25 to 4 in., and it is usually prepared by sandwiching a layer of thermoplastic with glass laminates; the number of layers stacked depends on the required level of security.
For more information, visit www.researchandmarkets.com/research/knwfjh/bulletproof.