The global tempered glass market size is anticipated to touch USD 68.42 billion by 2027, according to a new report by Million Insights. The market is anticipated to register 4.36% CAGR over the forecast duration. Increasing demand for tempered glass from end-use industries such as automotive, construction and consumer electronics is driving the market growth.
In the automotive, tempered glass is used in backlight and windows. While in the construction industry, it is used in making façade for building. The smartphone is the other major area of application where tempered glass is used for screen protection. Growth in the automotive industry and rising sales of smartphone have surged the demand for the product.
In 2019, Europe led the market by occupying the highest share. The Asia Pacific is projected to register the highest growth from 2020 to 2027. Rapid growth in the construction industry in the region is the main factor driving the tempered glass market growth.
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Further key findings from the report suggest:
• The automotive segment is projected to register the noticeable growth over the forecast duration owing to the rise in the production of premium vehicles.
• Europe dominated the market in 2019 owing to the increasing use of tempered glass in the automotive industry.
• Asia Pacific is projected to register the highest growth over the forecast duration owing to the increasing demand from the automotive and construction industries.
• Key players operating in the market are Saint-Gobain, Guardian Industries, NSG Group and AGC Group among others.
Million Insights has segmented the global tempered glass market on the basis of application and region:
Tempered Glass Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2016 - 2027)
Tempered Glass Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2016 - 2027)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
• South Africa