Global Bulletproof Security Glass Market Expected to See Continued Growth
According to a recent market report published by Persistence Market Research entitled “Global Market Study on Bulletproof Security Glass Market-Middle East & Africa to Witness Highest Growth by 2021,” the global bulletproof security glass market was valued at $2,395.7 million in 2015 and is expected to expand at a compound annual growth rate of 8.8% from 2015 to 2021, reaching nearly $4 billion by 2021.
Among various security systems, bulletproof glass is seeing increasing demand due to rising security concerns following terror attacks and higher crime rates. In order to fulfill increasing security needs, the market is expected to witness a significant increase in the next five to six years. Proposed changes and regulative guidelines by green councils and the energy costs involved in manufacturing processes for bulletproof security glass are perceived as minor growth restraints. However, the rising cost of raw materials such as polycarbonate could pose a challenge to market growth in the near future.
Growth in the bulletproof security glass market has been increasingly driven by the growing worldwide automotive industry. This growth, coupled with increasing demand from tech-savvy consumers for value-added automobile products, is expected to further boost the demand for bulletproof security glass in the automotive industry segment. In addition, revenue from expanding financial industries is expected to dominate due to the increasing expansion of financial institutions and services in developing countries.
North America is expected to represent the largest market in 2015, accounting for approximately 26.7% of the total market share. However, the Middle East and Africa is expected to record the highest growth during the forecast period due to increasing infrastructural development in the Middle East.
Bulletproof glass, also known as bullet-resistant glass, transparent armor and ballistic glass, is made up of transparent materials that can resist any damage from small projectiles and bullets. It is usually made with an arrangement of two or more types of glass. The glass is produced using ballistic materials such as polycarbonate, acrylic, glass-clad polycarbonate, and thermoplastic that can withstand any damage from small projectiles and bullets.
Asahi Glass Co. Ltd. (Japan), China Glass Holdings Ltd., Nippon Sheet Glass (Japan), Saint-Gobain S.A. (France), China Glass Specialty AG, PPG Industries Inc. (U.S.), Taiwan Glass Ind. Corp., Apogee Enterprises Corp. (U.S.), Sisecam (Turkey), and Guardian Industries (U.S.) are some of the leading players in the bulletproof security glass market.
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