Tempered Glass Market Share, Production and Revenue Analysis Report By 2027

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.

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COVID-19 Impact Analysis

The market has been adversely affected owing to the outbreak of COVID-19. End-use industries such as automobile and construction sectors have witnessed a sharp decline owing to the imposition of lockdown following the pandemic outbreak. Global rating Moody predicts that automobile sales would decline by nearly 20.0% in 2020 globally. In addition, the construction industry has been hit badly across the world owing to the labor shortage and economic crisis. Further, the demand for electronic products has decreased considerably owing to reduced consumer spending. However, the market has started to recover with the reopening of various economic activities.

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.

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.

Global Tempered Glass Market: Key Players

Saint-Gobain, Guardian Industries, NSG Group and AGC Group among others. 

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