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Fire Resistant Glass Market worth 7.36 Billion USD by 2021



The report "Fire Resistant Glass Market by Type (Laminated, Ceramic, Tempered, Wired), by Application (Building & Construction, Marine, and Others), and by Region - Global Forecast to 2021",global fire resistant glass market is projected to reach USD 7.36 Billion by 2021, at a CAGR of 12.9%. The market size was 9.57 Million square meters in 2015, and is projected to register a CAGR of 10.5% during the forecast period. This growth is fueled by the increasing production capacities, rising development strategies, growing shift toward ceramic and laminated fire resistant glass, and growing application sectors globally.

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Laminated: The largest fire resistant glass market, by type
Laminated is the largest type segment of the fire resistant glass market, as these glasses have the ability to provide effective glazing solutions with impact resistance, and heat & smoke resistivity. The demand for laminated fire resistant glasses is higher in applications where the fire safety and impact resistance codes are the highest. These glasses are made with various forms of interlayering such as EVA, PVB, and Gel depending on the application requirement. The wide application areas coupled with the growing adoption of development strategies for high-quality and fire resistivity for long duration are expected to increase the demand for laminated fire resistant glasses significantly in the global market during the forecast period.
Building & construction: The largest application market for fire resistant glass
Building & construction is currently the largest application of fire resistant glass. These glasses are used in fire-rated windows and doors, as they allow safe and unhindered passage access for people, firefighters, and rescue workers during fire mishaps. Their ability to prevent smoke and radiant heat from spreading in other parts of the building has made them a preferred option in various commercial and residential building applications such as schools, hospitals, stairs, and passages. The stringent building safety norms and regulations is another key factor contributing to the growth of the fire resistant glasses in this application segment.
Western Europe: The largest market for fire resistant glass
Western Europe is estimated to be the largest market for fire resistant glass globally. This is mainly attributed to the presence of a large number of fire resistant glass manufacturers, increasing government support, rising foreign investments, and growing demand for ceramic, tempered, and laminated fire resistant glasses from the building & construction, marine, transportation, and aerospace industries. Germany dominates the market owing to the stringent building safety codes and fire safety regulations for commercial buildings, and developmental strategies adopted by the manufacturers.
The global fire resistant glass market is fragmented owing to the presence of a large number of buyers and suppliers worldwide. Increasing rivalry among the players to obtain majority of the patents for fire resistant glass used in applications such as building & material, transportation, oil refinery, and aerospace has played a major role in intensifying the level of competition. Major players such as SCHOTT AG (Germany), Compagnie De Saint-Gobain (France), and Asahi Glass Co. Ltd. (Japan) have adopted organic and inorganic developmental strategies.

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News Release: Fire Resistant Glass Market worth 7.36 Billion USD by 2021
Submitted on: June 19, 2017 04:16:07 PM
Submitted by: dheeraj
On behalf of: www.marketsandmarkets.com/Market-Reports/fire-resistant-glass-market-4756930.html
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