The fire resistant glass market size is projected to grow USD 10.4 billion in 2024 and is projected to reach USD 16.1 billion by 2029, at a CAGR of 9.0% from 2024 to 2029. The demand for fire resistant glass from building & construction industry is significantly increasing due to rapid urbanization and growing focus on safety regulations for commercial and residential construction projects. With the growing interest of the market participants and the enormous growth potential of laminated and ceramic fire resistant glass, it is expected that the fire resistant glass market will register strong growth in the forecast period.
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Based on type, the fire resistant glass market is segmented into wired, ceramic, laminated, and tempered glass. In terms of value, laminated glass type dominated the global fire resistant glass market. The high market share id attributed resistance to thermal shock during firefighting, compared to other types of fire-resistant glass. Laminated fire-resistant glass is designed to prevent the passage of smoke and flames, providing enhanced fire safety and protection. The laminated glass is the largest segment of the fire resistant glass market owing to its high fire rating, the high impact safety range, and ability to provide a clear and unobstructed vision, and effective noise control.
Based on application, the fire resistance glass market is segmented into building & construction, marines, and other applications. Other applications include oil refineries, transportation, and aerospace industries. In terms of value, building & construction segment accounted for the largest market share in 2023. The building & construction market is further divided in residential and commercial sectors with commercial being the largest consumer of fire resistant glass in the global market. The commercial sector includes hospitals, schools, and offices that require the installation of fire resistant doors and partitions, which help in minimizing the spread of fire, smoke, and radiant heat in case of fire.
The fire resistant glass market is witnessing a high growth, owing to the rapidly growing building & construction sector, emerging demand from the marine and oil refinery sectors, and stringent building & fire safety codes across the globe.
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Based on Region, Asia Pacific region is expected to grow with the highest CAGR in global fire resistant glass market, in terms of both value and volume, during the forecasted period 2024 to 2029. Owing to the rapid growth in the building & construction industry and improving economy in Asia-Pacific, this region is emerging as a key market for fire resistant glass manufacturers. The growing building & construction industry as well as the stringent building safety and fire protection codes are driving the demand for fire resistant glass in the region. The increasing investment, agreement/collaboration, and expansion activities for the commercialization of fire resistant glass in countries such as China, Japan, South Korea, and India makes Asia-Pacific the fastest-growing market of fire resistant glass, globally.
Major players operating in the fire resistant glass market include Vetrotech Saint-Gobain International AG (Switzerland), SCHOTT AG (Germany), AGC Inc. (Japan), Nippon Sheet Glass Co., Ltd. (Japan), Pyroguard Ltd. (UK), Anemostat (US), Fuso Glass India Pvt. Ltd. (India), Promat International NV (Belgium), Ravensby Glass Co. Ltd. (UK), and SAFTI FIRST (US).
These companies have reliable manufacturing facilities, a strong focus on research & development and wide distribution networks across the world. These companies operate in various regions such as Asia Pacific, North America, Europe, Middle East & Africa and South America. The manufacturers have a strong global market presence, a well-established portfolio of a wide range of products, and strong business and growth strategies.
Recent
Developments in Fire Resistant Glass Market Industry
· On February 2023, AGC Inc. and Saint-Gobain has collaborated to reduce the carbon emissions through pilot breakthrough flat glass line to contribute towards sustainability.
· In September 2022, SCHOTT AG and Emirates Glass LLC has signed a deal to combine innovative systems and high-quality performance for fire resistant glass products. They engaged into a partnership to provide internationally accredited fire-resistant glass for facades, partitions, doors and windows to the Middle East market.
· In 2019, Pyroguard Ltd. has established Technical Fire Safety Group with their sister company Fire Glass UK to provide high quality and high-performance fire-resistant safety glass products.
Frequently Asked Questions (FAQs) Addressed by the Fire Resistant Glass Market Industry
· Which are the major companies in the fire resistant glass market? What are their major strategies to strengthen their market presence?
Some of the key players in the fire resistant glass market are Vetrotech Saint-Gobain International AG (Switzerland), SCHOTT AG (Germany), AGC Inc. (Japan), Nippon Sheet Glass Co., Ltd. (Japan), Pyroguard Ltd. (UK), Anemostat (US), Fuso Glass India Pvt. Ltd. (India), Promat International NV (Belgium), Ravensby Glass Co. Ltd. (UK), and SAFTI FIRST (US).
· What are the drivers and opportunities for the fire resistant glass market?
Growing demand for fire resistant glass from commercial construction sector is one of the major drivers of the fire resistant glass market and one of the major opportunities lies in growing building & construction industry.
· Which region is expected to grow with the highest CAGR?
Asia Pacific’s fire resistant glass market has been witnessing growth and significant industry demand.
· What is the total CAGR expected to be recorded for the fire resistant glass market during 2024-2029?
The CAGR is expected to record a CAGR of 9.0% from 2024-2029.
· How is the fire resistant glass market aligned?
The market is growing at a significant pace. The market is a potential market, and many manufacturers are planning business strategies to expand their existing business.
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