The global laminated glass market size is expected to grow from USD 20.8 billion in 2021 to USD 27.8 billion by 2026, at a CAGR of 6.0% during the forecast period. Laminated glass is increasingly used in residential constructions. Better visual appeal with higher security motivates the consumers to make a switch to laminated glass. The global urban population is increasing continuously with cities becoming more populated, the need of high rise buildings is increasing.
The Laminated glass market experiencing substantial growth. Laminated glass has an added advantage over brick and mortar. It is considerably lighter and contribute to less dead weight of the building. This allows architects to build higher. This also gives the building additional visual appeal and daylight energy saving options. Laminated glass prevents the penetration of harmful UV rays inside the building, protecting from solar fading of interiors.
Laminated glass is also used for making glass railings, glass floors, skylights, roofs, sunspaces, and curtain walls,
Asia Pacific and Europe are among the major markets for laminated glass. Rapidly growing urban population in the Asia Pacific region is increasing the demand of high rise buildings and smart construction in the region. The corporate buildings in the region are also using more glass in interiors instead of conventional construction materials. This is increasing the demand of laminated glass in the region. The market for laminated glass is mainly driven by the non-residential sector for application in commercial hubs, schools, colleges, offices,.
The outbreak of COVID-19 has disrupted the supply chain of raw material for glass and transportation of glass to laminated glass processors. Countries such as India, China, Germany, UK, and US are the hubs of construction industry. The halt in the production and supply of raw materials owing to travel restrictions imposed for the reduction of the spread of the virus has impacted the growth of the market. The COVID-19 outbreak also affected the global construction industry, due to which many manufacturers had to put their manufacturing operations on hold. The global lockdown forced manufacturers to operate on reduced capacities. As conditions are back to normal, the market is recovering and is expected to surpass its pre-COVID level by the end of 2022
The use of laminated glass in new construction is gaining wide acceptance and is fetching higher price for the house as compared to one fitted with conventional glass. The consumers are also preferring homes prefitted with laminated glass as they offer better shielding from noise, UV rays, dust and also protect from forced entry and flying debris in event of natural disasters like cyclones and hurricanes.
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