NEWARK, Del, September 21, 2022 (GLOBE NEWSWIRE) — The global glass tempering systems market is projected to be worth US$166.5Mn in 2032, with the market expanding at a stagnant CAGR of 3.9% over the forecast period 2022 to 2032. Valued at US$109.5Mn in 2021, the glass tempering systems market is likely to reach an estimated US$113.6 Mn in 2022. The growing adoption of glass tempering systems in various industries such as architecture, automotive, electronics and others drives the market during the forecast period .
Glass tempering systems are devices used to produce high-strength tempered glass through controlled thermal or chemical treatments. These systems are rapidly gaining momentum in the glass industry in recent years due to their ability to create safe, reliable, high strength and heat resistant tempered glass.
The growing awareness of the advantages of using a glass tempering system, especially in the electronics and automotive sectors, is driving the expansion of the market. Better transportation options, increasing demand for durable building materials, as well as the increasing architectural trend of using glass in buildings and structures are some complementary factors that bode well for market growth. Additionally, advances in glass processing technology coupled with the increasing application of tempered glass in many end-use industries such as automotive, solar panelsprivate and commercial buildings, digital glass, decoration and others further drive the growth of the glass tempering systems market during the forecast period.
Although the market for glass tempering systems has bright prospects for the future, it is not without its challenges. Expensive initial investment, high operating costs, and unavailability of transportation may impede the growth of the glass tempering system market during the evaluation period.
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“Increased demand and usage of tempered glass in the architectural sector will likely drive the growth of the tempered glass market during the forecast period,” says an FMI analyst.
- Poor transportation options can impede market possibilities.
- Constant innovation and integration of advanced technology will boost the possibilities of the market.
- The target market in the US is anticipated to account for 30% of the market share in 2022.
- Driven by the construction industry, China’s glass tempering systems market is expected to post a CAGR of 4.2%.
- The flat glass application segment has about 80% of the market share.
- By end use, the architectural segment will dominate the market.
Glaston Corporation, LiSEC Austria GmbH, Luoyang Landglass Technology Co. Ltd., Luoyang North Glass Technology Co., Ltd., Keraglass Industries Srl., SAS VILUX, CoolTemper Ltd, Lambert GT Services Ltd, IGE Glass Technologies, Inc, Saint-Gobain SA, EFCO, and Ratnesh International, among others, are some of the major players in the glass tempering systems market that are profiled in the full version of the report.
Major market players are interested in expanding their consumer base by displaying their products at international exhibitions. Product upgrades and enhancements, mergers and acquisitions are other strategies some companies employ to gain competitive advantage.
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More information about the glass tempering system market report
In its latest report, FMI offers an unbiased analysis of the global glass tempering systems market, providing historical data from 2015 to 2021 and forecast statistics for 2022 to 2032. To understand the potential, growth and scope of the global market, the market is segmented on the basis of tempering technology (CHQE (standard configuration, advanced configuration), chemical treatment), application (flat (continuous, oscillating), bent, combined flat and bent), end use (automotive window, architectural (windows and façade, mirror and partitions, furniture), electronics (smartphone, electrical appliances), solar applications, others) and region.
According to the latest FMI reports, depending on the region, the market for glass tempering systems in the United States is expected to flourish during the forecast period. The market in this country is expected to account for 30% of the market share in 2022. This growth can be attributed to the ever-expanding automotive and construction sector. The high demand for high strength tempered glass and the immense presence of the major market players also support the growth of the regional market. China and Germany are the other two countries that are expected to show impressive growth in this market during the evaluation period.
Based on segmentation, by application, the flat glass segment is anticipated to dominate the market with around 80% of the market share. In terms of end use, the architectural segment is expected to lead the growth of the market, with around 75% of the market share during the forecast period.
Table of Contents
1. Executive Summary
1.1. World Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. technology roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key market trends
3.1. Key trends affecting the market
3.2. Product Innovation / Development Trends
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