Fire Rated Glass Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Poland, Belgium, Netherlands, Russia, Japan, China, India, South Korea, Malaysia, Sri Lanka, Brazil, Argentina, UAE, South Africa, Saudi Arabia), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3813
Fire Rated Glass Market size is anticipated to witness notable growth over 2020 to 2026. Growing focus over improving the fire safety standards of residential as well as commercial infrastructure is anticipated to propel the product installation across glass doors, windows, and glass partitions. Fire rated glass, also known as fire resistant glass, is specifically engineered to withstand extreme levels of heat and temperature, prevent the passage of smoke and flames, and restrict fire.
A rapidly-growing world population has considerably increased the need for high-quality residential and commercial infrastructure that complies with international building and construction standards. Fire departments across the globe have responded to a significantly high number of fire incidents over the past decade. This has encouraged governments to tighten fire safety standards in both residential and commercial buildings.
The automotive industry is also among the leading consumers of fire rated glass. With a growing focus on improving vehicle as well as passenger safety in modern vehicles, many automakers are looking to install high-quality fire rated glass in windshields and windows. The manufacturers and suppliers of fire-resistant glass products are bound to witness lucrative opportunities in the near future, with rapid expansion of the construction sector and robust demand for premium vehicles.
Considering the type of glass, fire rated glass market is segmented into wired, tempered, gel filled and ceramic glass. Tempered fire-resistance glass is slated to witness a strong demand in the near future. It can withstand temperatures up to 500°F. As structural fires are capable of reaching extremely high temperatures rapidly, the need for high-performance specialty glass solutions is easy to recognize. Fire rated glass is widely used in infrastructure, automotive, and marine applications, among many others.
The demand for fire resistant glass in infrastructure applications is anticipated to record significant installation over the next few years. This can be attributed to ongoing residential and commercial developments, mainly in the emerging economies, to accommodate a booming urban population. The presence of strict fire safety regulations will propel the product requirement across the infrastructure sector.
A few notable manufacturers of fire rated glass include Saint Gobain, Fuso Glass India, Ravensby Glass, AIS, Pilkington, Nippon Electric, Schott AG, and Pyroguard, among several others. These market players are expected to play a prominent role in the growth of fire rated glass market forecast. Some of these companies have been actively investing in research and development and product innovation in recent years to expand their presence in the market.
The companies are adopting numerous growth strategies to gain a competitive advantage in the industry. In addition to new product launches, mergers & acquisitions, and strategic collaborations, manufacturers are looking to expand into new territories with a strong demand for high-quality fire rated glass products. In September 2019, Pyroguard had announced plans to expand in India to meet the surging demand across the country. As part of its growth and expansion strategy, the company employed dedicated salespeople in India, to offer direct support to customers on their future projects.
The coronavirus outbreak, which originated in Wuhan, China, has impacted the growth of industrial economy. The building and construction industry is among the crucial sectors hit by the COVID-19 pandemic. To prevent the spread of the outbreak, governments in many countries have enforced lockdowns, restricting the movement of people as well as goods. Due to several government restrictions put in place in these regions, many construction activities have either been temporarily halted, postponed, or entirely cancelled.
A major consequence of the pandemic has been the disruption of the supply chain. The lack of availability of raw materials can create a massive demand-supply gap. The economic slowdown caused by the coronavirus crisis will be a major factor restricting the growth of fire rated glass industry. However, it is anticipated that after the stabilization of the global economy and resuming of infrastructure development projects, fire rated glass market will experience a significant growth.
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