Advanced Glass Market Size, Share, Growth Analysis, By Type(Laminated Glass, Coated Glass), By Application(Construction, Automotive) - Industry Forecast 2024-2031

Global Advanced Glass Market size was valued at USD 60.40 Billion in 2022 and is poised to grow from USD 65.17 Billion in 2023 to USD 119.74 Billion by 2031, at a CAGR of 7.90% during the forecast period (2024-2031).

The global advanced glass market is experiencing substantial growth due to the unique properties and versatility of advanced glasses in various applications. These specialized grades of glass are specifically designed or modified to enhance their mechanical, optical, or thermal properties. The demand for advanced glass is being driven by several factors across multiple industries. One of the key drivers of the global market is the increasing need for energy-efficient solutions. Advanced glasses, such as Low-E glass, possess exceptional thermal insulation properties, resulting in significant reductions in energy consumption for buildings.

Widely used in the construction industry, these glasses are incorporated into windows, doors, and skylights. Moreover, the infrastructure sector also presents a significant market for advanced glass, with the Asia Pacific region leading in this domain. Governments and organizations in various countries are actively involved in infrastructure development. For example, the Asian Infrastructure Investment Bank (AIIB) recently signed a loan agreement of USD 153.96 million with Fraport TAV Antalya (FTA) to enhance airport services and travel alternatives. The growing use of smart glass technology is another contributing factor to the expansion of the advanced glass market. Smart glass, a type of advanced glass, has the ability to alter its transparency or color in response to external conditions such as light or heat.

This technology finds applications in mirrors, windows, and displays, and is particularly popular in the automotive industry, where it is utilized in sunroofs and side windows. The healthcare sector is also witnessing an increased adoption of advanced glass. Glasses with unique properties, including antimicrobial coatings, are widely used in medical equipment and devices, making them increasingly popular in hospitals and other healthcare facilities. With its burgeoning construction industry and rapid urbanization, the Asia Pacific region is emerging as a robust market for advanced glass. Additionally, North America boasts significant market potential for advanced glass due to the presence of prominent market players and the rising demand for sustainable construction solutions in the region.

US Advanced Glass Market is poised to grow at sustainable CAGR for the next forecast year.