Fire Rated Glass Market size is expected to record lucrative growth from 2022 to 2028. Also called fire resistant glass, fire rated glass is particularly engineered for the restriction of fire, preventing the passage of flames and smoke, and withstanding extreme levels of temperature and heat.
The product has a high demand in the automotive industry. This is because numerous auto manufacturers are considering the installation of high-quality fire rated glass in windows and windshields due to the growing emphasis on the improvement of passenger safety in modern vehicles.
On the basis of product type, the tempered glass segment is estimated to register substantial growth through 2028. This rise can be attributed to the capability of the product to withstand temperatures up to 500°F. Structural fires can reach extremely high temperatures at a rapid pace and this creates the need for the adoption of high-performance specialty glass solutions. The product is extensively used across automotive, infrastructure, and marine applications.
Based on end-use, the building & construction segment is projected to account for a considerable share in the fire rated glass market by 2028. This upsurge can be credited to the ongoing commercial and residential developments, primarily in the emerging economies, for the accommodation of a rapidly expanding urban population. The segmental growth is mainly being driven by the presence of strict fire safety regulations and growing focus on improving the fire safety standards of commercial and residential infrastructure.
Considering the regional landscape, North America fire rated glass market is expected to depict appreciable expansion in the coming years owing to the growing deployment of modern fire-rated glazing for the enhancement of exterior and interior aesthetics. While this enables designers to create welcoming, bright, and open spaces in areas requiring fire protection, the regional growth is being impelled by the increasing formulation of relevant regulations. For instance, the IBC (International Building Code) governs fire-rated glass applications in the United States.
Key participants across the fire rated glass market include Fuso Glass India, Pilkington, Saint Gobain, Schott AG, Ravensby Glass, Nippon Electric, Pyroguard, AIS, and others.
A number of fire rated glass manufacturers are taking a keen interest in the adoption of product innovation and R&D initiatives for securing a competitive edge in the market. These companies are also focused on the implementation of strategic moves such as acquisitions, mergers, collaborations, and partnerships for establishing a strong foothold in the industry.
The COVID-19 pandemic has hit the building and construction industry given the enforcement of lockdown measures for preventing the spread of the virus and restricting the movement of goods as well as people. This has led to the temporary halting, postponement, or entire cancellation of construction activities across various regions.
Additionally, the pandemic has resulted in the disruption of supply chains, creating a massive demand-supply gap on account of lack of availability of raw materials. The economic slowdown caused due to the COVID-19 pandemic will be a major factor hindering the expansion of the fire rated glass industry. However, the demand for fire rated glass doors and other products is expected to witness remarkable growth post resumption of infrastructure development projects and the stabilization of global economy.