Wilmington, Delaware , May 13, 2024 (GLOBE NEWSWIRE) -- Allied Market Research has recently published a report, titled, “Scratch-Resistant Glass Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, by Application : Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, the global scratch-resistant glass market generated $7.6 billion in 2022, and is anticipated to generate $22.2 billion by 2032, rising at a CAGR of 11.4% from 2023 to 2032.
Prime Determinants of Growth
The global rise in urbanization fuels construction activities, driving demand for scratch-resistant glass in residential, commercial, and industrial projects. In addition, the growing demand from automotive sector and the growing preference for scratch-resistant glass in architectural applications are the factors expected to drive the growth of the global scratch-resistant glass market in the forecast period from 2023 to 2032. However, the complex manufacturing process and the high production costs may restrict market growth in the coming future. On the contrary, technological advancements and the increasing integration of touchscreens into various surfaces are expected to offer remunerative opportunities for the expansion of the scratch-resistant glass market during the forecast period.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $7.6 billion |
| Market Size in 2032 | $22.2 billion |
| CAGR | 11.4% |
| No. of Pages in Report | 310 |
| Segments covered | Type, Application, and Region |
| Drivers | Continuous development in the automotive sector Global rise in urbanization and construction boom |
| Opportunities | Advancements in materials science and manufacturing techniques Increasing integration in touchscreens |
| Restraints | High production costs |
Type: Chemically-Strengthened Glass Sub-segment to Witness Significant Growth by 2032
The chemically-strengthened glass sub-segment accounted for the largest global scratch-resistant glass market share of 52.3% in 2022 and is expected to rise at the highest CAGR of 11.7% during the forecast period. This dominance can be attributed to its superior strength and durability, meeting the demands of industries like consumer electronics, automotive, aerospace, and construction. Besides, chemically strengthened glass is widely used in electronic devices and architectural applications. This addresses the growing need for scratch-resistant materials, particularly in the construction sector amidst increasing urbanization and construction activities globally.
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Application: Smartphones & Tablets Sub-segment to Flourish Immensely During the Forecast Period
The smartphones & tablets sub-segment held the largest market share of 47.3% in 2022 and is predicted to continue to account for the major share and grow at the highest CAGR of 12.3% during the forecast period. This growth is majorly because manufacturers look to differentiate their products and increase brand competitiveness. Integrating scratch-resistant glass enhances device durability, positioning them as premium offerings with superior build quality. Moreover, with the widespread adoption of touchscreen technology, consumers increasingly seek devices equipped with scratch-resistant glass. willing to invest in products offering enhanced durability and protection against scratches for a better user experience.
Region: Asia-Pacific Market to be the Most Dominant During the Forecast Period
The Asia-Pacific scratch-resistant glass market accounted for the largest share of 36.8% in 2022 and is predicted to grow at the highest CAGR of 12.0% during the forecast period. This growth is mainly due to the region’s robust electronics manufacturing sector, notably in China, Japan, South Korea, and Taiwan. In addition, the increasing production and consumption of electronic devices like smartphones, tablets, and laptops in the region propels the demand for scratch-resistant glass to protect their screens. Moreover, the growing automotive industry in countries like China and India contributes to the demand for scratch-resistant glass in automotive applications, while economic development and urbanization spur construction activities, further driving demand in the construction sector.
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Leading Players in the Scratch-Resistant Glass Market:
- Rubicon Technology
- Sisecam
- AGC Inc.
- Xinyi Glass Holdings Limited
- CENTRAL GLASS CO., LTD.
- Saint-Gobain
- Fuyao Glass
- Schott AG
- Guangzhou Topo Glass Co., Ltd.
- Nippon Sheet Glass Co., Ltd
The report provides a detailed analysis of the key players of the global scratch-resistant glass market. These players are employing various strategies including launching new products, entering collaborations, expanding operations, forming joint ventures, and signing agreements, all aimed at boosting their market share and securing their competitive position across different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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