New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Bullet Proof Glass Global Market Report 2023" - https://www.reportlinker.com/p06479723/?utm_source=GNW
, Taiwan Glass Industry Corporation, Binswanger Glass, National Glass Distribution, Fuyao North America Inc., Guangdong Golden Glass Technologies Limited, Guardian Glass, Jeet And Jeet Glass and Chemicals Pvt. Ltd., and Laggar Industries Ltd.
The global bullet proof glass market is expected to grow from $5.99 billion in 2022 to $6.76 billion in 2023 at a compound annual growth rate (CAGR) of 12.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The bullet proof glass market is expected to reach $10.48 billion in 2027 at a CAGR of 11.6%.
The bulletproof glass market consists of the sale of insulated ballistic glass, ceramic glass, vacuum insulating glass, Polymer-dispersed liquid crystal (PDLC) glass, and electrochromic glass.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Bulletproof glass refers to a composite of at least three glass panes joined together using different synthetic bindings between layers that are designed to provide an additional level of protection to structures and vehicles. It defines a substance that provides a certain degree of resistance against ballistic threats.
North America was the largest region in the bullet proof glass market in 2022. The regions covered in bulletproof glass report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of bullet proof glass are solid acrylic, traditional laminated, polycarbonate, glass-clad polycarbonate, and others.Solid acrylic refers to a substance made from synthetic resin and a mild alkaline polymer.
Solid acrylic in bulletproof glass is used for its high impact resistance and strength to increase durability against solvents, weather, and ultraviolet light.Its various security levels include security level-1, security level-2, security level-3, and security level-4 to 8 that finds its application in defense and VIP vehicles, ATM booths and teller stations, cash-in-transit vehicles, commercial buildings, government and law enforcement, and other application.
The end-users of bullet proof glass are automotive, military, banking and finance, construction, and others.
The growing number of terrorist attacks across the globe is expected to propel the growth of the bulletproof glass market going forward.Terrorist attacks refer to the unlawful use of violence or threats to terrorize or compel a civilian population or government to achieve political, social, or ideological goals.
Businesses and government organizations are increasingly preferring bulletproof glass as a security measure due to reasons such as protection against bullets, gunfire, explosives, vandalism during terrorist attacks.For instance, in March 2023, according to the Institute for Economics and Peace (IEP), an Australia-based non-profit research organization dedicated to the study of peace, the Sahel region in sub-Saharan Africa accounted for 43% of global terrorism deaths in 2022, of which Burkina Faso and Mali accounted for 73% of terrorism deaths in the Sahel in 2022.
Additionally, deaths in Burkina Faso increased by 50% to 1,135 and in Mali by 56% to 944 in 2022.With the majority of attacks occurring in the Middle East and North Africa, followed by South Asia and Sub-Saharan Africa.
Therefore, the growing number of terrorist attacks across the globe is driving the growth of bulletproof glass.
Product innovations are the key trend gaining popularity in the bulletproof glass market.Major companies operating in the bulletproof glass market are introducing innovative products such as UL-rated ballistic insulated glass to sustain their position in the market.
For instance, in January 2020, Total Security Solutions, a US-based company that designs, manufactures, and installs bullet-resistant barrier systems launched DEFENDER insulated ballistic glass, which is an insulated ballistic glass with UL-Level 1 ballistic protection.It has a superior light transmission and an air gap between two panes of glass, making it a true double-pane glass.
Additionally, the product is lightweight and easy to retrofit into existing window frames, which makes it ideal for use in school buildings, corporate offices, utility offices or payment centers, and municipal buildings.
In August 2022, Total Security Solutions (TSS), a US-based company that designs, manufactures, and installs bullet-resistant barrier systems acquired Bullet Guard for an undisclosed amount.With this acquisition, Total Security Solutions focuses on expanding its operational capacity, supply chains, and services to other potential customers such as hospitals and schools.
Bullet Guard is a US-based manufacturer of bullet-resistant products.
The countries covered in the bulletproof glass market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The bullet proof glass market research report is one of a series of new reports that provides bullet proof glass market statistics, including bullet proof glass industry global market size, regional shares, competitors with a bullet proof glass market share, detailed bullet proof glass market segments, market trends and opportunities, and any further data you may need to thrive in the bullet proof glass industry. This bullet proof glass market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06479723/?utm_source=GNW
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