North America Leads Global Advanced Glass Market
The advanced glass market has grown exponentially in the last few years, and this trend is projected to continue, according to “Advanced Glass Market by Type, End Use Sector, & by End Use Application - Trends & Forecasts to 2020.” The market was valued at $35.76 billion in 2014; it is projected to grow at a compound annual growth rate (CAGR) of 9.6% from 2015 to reach $61.75 billion by 2020. The market is primarily driven by factors such as increasing disposable income, changing lifestyle and urbanization.
The advanced glass market is led by North America, followed by the Asia-Pacific region. China is the most dominating advanced glass market in the Asia-Pacific region, and the U.S. is the dominating market in North America. Asia-Pacific is projected to be the fastest-growing advanced glass market globally for the period under consideration, growing significantly at a CAGR of 10%. Argentina is the major market in the “Rest of the World” region, due to the country’s increasing population, awareness, and increasing expenditure on advanced glass products.
Major players such as Saint-Gobain Glass (France), Asahi Glass Co., Ltd. (Japan), PPG Industries, Inc. (U.S.), Corning Inc. (U.S.), Guardian Industries (U.S.), and Nippon Sheet Glass Co., Ltd. (Japan) collectively accounted for the key stake of the global advanced glass market and are mainly focusing on strengthening their product range. The market is competitive, with leading players being involved in the research and development of new advanced glass products and applications.
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