by Heat treated glass refers to toughened or tempered glass that has undergone a thermal or heat treatment process making it approximately 4-5 times stronger than standard annealed glass. Heat treated glass finds wide application in windows, doors, furniture, automotive, appliances, and other construction applications where safety and durability is a priority. Some key advantages of heat treated glass include its high strength and resistance to breakage. Upon breaking, heat treated glass turns into small granular chunks rather than sharp splinters, thereby making it a safer option compared to regular glass.
The global construction industry has been witnessing solid growth over the past few years driven by increasing investments in commercial and residential real estate sector across both developed and developing economies. The need for durable and safe glass solutions in windows, doors, railings and other construction applications has propelled the demand for heat treated glass. The global Heat Treated Glass Market is estimated to be valued at US$ 474.5Mn in 2023 and is expected to exhibit a CAGR of 3.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: One of the key trends gaining traction in the heat treated glass market is the growing demand for solar control and low emissivity glass. Solar control glass helps reduce solar heat gain and thus the amount of energy required for heating and cooling in buildings. Meanwhile, low emissivity (low-e) glass has a microscopically thin, transparent coating that allows shortwave solar radiation to pass through but reflects longwave heat radiation. These energy efficient glass solutions offer benefits like reduced carbon footprint and lower utility bills. Manufacturers are focusing on new product innovations to further enhance the energy saving and insulation properties of heat treated glass, which is expected to drive the demand over the coming years.
Porter’s Analysis
- Threat of new entrants: The threat of new entrants is moderate as substantial capital investment is required to set up manufacturing facilities and the market is dominated by major players.
- Bargaining power of buyers: The bargaining power of buyers is moderate as there are many established suppliers and consumers look for quality and competitive pricing.
- Bargaining power of suppliers: The bargaining power of suppliers is low due to the availability of substitute materials and suppliers do not have control over pricing.
- Threat of new substitutes: The threat of substitutes is high as other materials like ceramics and specialty polymers are increasingly used as an alternative to heat treated glass in certain applications.
- Competitive rivalry: The competitive rivalry in the industry is high among major players.
Key Takeaways
The global heat treated glass market is expected to witness high growth. North America region dominated the market in 2023 and is expected to maintain its leading position over the forecast period on account of high demand from end use industries like automotive, construction and electronics in the region.
Regional analysis: Asia Pacific region is projected to be the fastest growing market for heat treated glass between 2023 and 2030 due to increasing investments in infrastructure development and growth of the automotive industry in countries like China, India and Japan. Countries in Asia Pacific and Central and South America are expected to offer significant opportunities for manufacturers due to rapid industrialization and urbanization.
Key players: Key players operating in the heat treated glass market are Cincinnati Gasket & Industrial Glass Products and Solutions, Asahi Glass Co.,Ltd., Corning Incorporated, SCHOTT North America, Inc., SCHOTT AG, CoorsTek, Inc., Vesuvius PLC, Nippon Sheet Glass Co., Ltd., CeramTec and others. Major players are focusing on enhancing their production capabilities and developing innovative products with advanced properties to cater to diverse end use industries.
