Tempered Glass Market Size, Share & Trends Analysis Report By Type (Plain Glass, Colored Glass), End-use (Automotive, Construction, Consumer Electronics, Others), By Region, And Segment Forecasts, 2023 - 2030

Tempered Glass Market Size, Share & Trends Analysis Report By Type (Plain Glass, Colored Glass), End-use (Automotive, Construction, Consumer Electronics, Others), By Region, And Segment Forecasts, 2023 - 2030

Tempered Glass Market Growth & Trends

The global tempered glass market size is expected to reach USD 91.66 billion by 2030 registering a CAGR of 9.7%, according to a new report by Grand View Research, Inc. Growing automobile demand on account of rising disposable income is expected to be the major driver for market growth. Transition in building architecture which includes maximizing natural light through use of glass in facades and roofs is further expected to propel demand over the next seven years.

The product is widely used in construction industry for various applications on account of its lightweight and high strength properties. Asia Pacific market is expected to witness rapid growth on account of increased spending on large-scale infrastructure development in India, China, Indonesia, and Malaysia.

Tempered Glass Market Report Highlights

• Automotive application is expected to grow at a CAGR of over 9.2% during the forecast period. Rapid industrialization in developing countries, coupled with increasing disposable income of the middle class is expected to be primary drivers for the automotive industry which in turn will propel demand particularly in Asia Pacific and Latin America over the forecast period.
• Construction applications are expected to witness significant growth over the forecast period. The product finds application as both exterior and interior elements of the structure, in order to improve aesthetic value and to avoid fragility. It is increasingly being used in construction applications on account of enhanced characteristics including energy saving, anti-breakage and insulating properties, thus propelling growth.
• Europe held a significant revenue share in 2022. In Europe, the product is mandated for use in applications including safety glazing, fire knock-out panels, all-glass entrances and storefronts, extreme wind loads and fireplace enclosures. However, with declining automotive production and maturing construction industry in the region, product is expected to witness stagnant demand over the forecast period.
• Asia Pacific dominated the global market and accounted for the largest revenue share of 40.0% in 2022 and is expected to grow at the fastest CAGR of 8.2% during the forecast period. Raw material availability coupled with low cost of skilled labor in these countries of Asia Pacific has resulted in major automobile manufacturers setting up their production units in the region. This is expected to augment tempered glass demand in the region.

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