February 25, 2024

Heat Treated Glass Market driven by increasing construction and automotive industry globally is estimated to grow at a CAGR of 3.2% during 2023-2030

Heat treated glass finds wide application in the construction and automotive industry, owing to its superior properties such as strength, durability and scratch resistance. It is widely used in windows, doors, car windshields, backlights and others as it provides protection from UV radiation, dissipates heat and prevents glare from headlights. The growing construction activity in Asia Pacific and Middle Eastern countries along with increasing sales of premium and luxury vehicles globally has augmented the demand for heat treated glass. Stringent government regulations regarding safety and emission control have also increased adoption of heat treated glass in automotive glass applications. Moreover, commercialization of electric and hybrid vehicles requiring lighter weight components to improve efficiency is further expected to propel the heat treated glass market growth over the forecast period.

The global Heat Treated Glass Market is estimated to be valued at US$ 474.5Mn in 2024 and is expected to exhibit a CAGR of 3.2% over the forecast period 2023-2030, 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 increasing adoption of smart heat treated glass. Smart heat treated glass integrated with technologies such as auto-dimming, self-cleaning and thermochromism is becoming popular. For instance, auto-dimming glass can adjust window tint based on sunlight and privacy levels which helps reduce glare and energy costs. Its self-cleaning properties minimizes maintenance costs. These advanced functionalities of smart heat treated glass are increasing their preference over conventional glass, thereby driving the market growth.

Porter’s Analysis
Threat of new entrants: Low cost barrier for product manufacturing poses a moderate threat. However established companies hold majority market share and brand value creating entry barriers.

Bargaining power of buyers: Buyers have moderate bargaining due to availability of substitutes and undifferentiated products. However specialized applications provide buyers less options.

Bargaining power of suppliers: Suppliers of raw materials have low to moderate bargaining power due to availability of substitutes and less differentiation in raw materials.

Threat of new substitutes: New materials like tempered glass and specialty glass offer alternatives. However properties of heat treated glass like strength and resistance makes substitutes less threatening.

Competitive rivalry: Intense competition exists among established players to gain market share through product development and regional expansion.

Key Takeaways

The global heat treated glass market is expected to witness high growth.

Regional analysis: US dominates currently due to extensive usage in construction sector for windows and doors. Asia Pacific is poised to be fastest growing region supported by rapid infrastructural growth in China and India.

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. Key players are focused on production capacity expansion and new product development through R&D investments to gain competitive advantage.