New York (US), May 11, 2023 (GLOBE NEWSWIRE) -- Bulletproof Glass Market Overview
Market Research Future (MRFR) 's report highlights "Bulletproof Glass Market Information By Application, End-Use, And Region - Forecast till 2032"; the market will achieve USD 27.30 billion by 2032, at a 14.30% CAGR.
Market Synopsis
Layers of glass sheets have adhered with polyvinyl butyral or polyurethane to create bulletproof glass, also referred to as bullet-resistant or ballistic glass. The market expansion can be attributed to the demand for the product from several end-use industries, which include motor vehicles, defense, aerospace, and construction. The thickness of bulletproof glass protects you from outside threats like bombs, guns, and other armed tools. Ballistic glass, open armor, or bullet-resistant glass are other types of bulletproof glass, sturdy material with high projectile penetration resistance. To offer the proper level of protection for a particular purpose, these glasses are made from various materials, such as polycarbonates, acrylics, thermoplastics, and even glass-clad polycarbonates.
Product demand is increasing due to growing consumer safety concerns and increased national defense spending. Demand from sectors like residential construction and high-end vehicles has significantly increased over the past few years. As the world is in upheaval due to an increase in terrorist attacks and an array of robberies and thefts, growing worries regarding the safety and security of people worldwide are driving the global market for bullet proof glass manufacturers. As a result, the market is anticipated to grow during the anticipated time. Bulletproof glasses can resist one or more shooting rounds, depending on the glass's thickness or the gun used to shoot at them.
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Market Competitive Landscape:
The reputed players in the bulletproof market are:
- Nippon Sheet Glass Co., Ltd (Japan),
- Total Security Solutions (U.S.),
- Apogee Enterprises, Inc. (U.S.),
- Saint-Gobain (France),
- AGC Inc. (Japan),
- Smartglass International Limited (Ireland),
- SCHOTT AG (China),
- CSG Holdings Co., Ltd. (China),
- Armortex (U.S.).
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size in 2032 | USD 27.30 billion |
| CAGR | 14.30% (2023-2032) |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Application, End-Use, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Key Market Drivers | Rising demand in the automotive sector New product launches Technological advancements |
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Market U.S.P. Covered:
Market Drivers:
It is predicted that the increasing frequency of terrorist attacks worldwide will pave the way for market expansion. Additionally, the market for bulletproof security glass is growing primarily due to the global automotive industry's expansion and the rise in demand for luxury vehicles. The aviation and maritime industries, which operate in high-pressure conditions and need glass that can be shatter-resistant and withstand high pressure, are predicted to use bulletproof glass more frequently, driving the market's value. Furthermore, the materials' superiority and strength can be preserved while molded into a complicated structure. The market is expected to grow due to the strong demand from governmental institutions, retail businesses, the military, liquor shops, financial institutions, and other industries.
The military and defense employ armory equipment, fighting vehicles, mine detection, battle tanks, bulletproof glass in viewports, and windows on ground vehicles and aircraft. The market for bulletproof glass will grow faster due to rising worries regarding security and safety for the public and a spike in the variety of applications for these eyeglasses. The rising defense spending of emerging economies and the high demand for homes and luxury cars are also expected to increase the market's CAGR. Additionally, the item is used in military bases, underground structures, and watchtowers to ward off outside terrorists and unintentional assaults. These glasses' exceptional security advantages were also applied to public and municipal areas. The expanding use of clear ballistics-resistant laminations in products in bank security creates opportunities.
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COVID 19 Analysis
Due to global restrictions that hit the building, construction, and automobile industries, the COVID-19 pandemic significantly impacted the bulletproof glass market. However, since 2021, certain sectors have expanded more quickly, and the market is expected to continue moving in that direction over the forecast period. The global pandemic was unprecedented and shocking, and demand for bulletproof glass has fallen short of expectations in every region compared to pre-pandemic levels. Due to the closure of manufacturing facilities and disruptions in the distribution system of raw materials, the pandemic significantly impacted the automotive industry. The global lockdown also decreased demand for cars because it restricted passenger travel.
The demand for the product was also impacted by the closure of shopping centers, department stores, jewelry retail outlets, and other places requiring security access. The expansion of the market for bulletproof glass was hampered by the closing down of these numerous large and small companies. However, governments are passing beneficial legislation and working to rebuild economies with help from developing industries like automotive and construction, raising product demand.
Market Segmentation
By end-use, the market includes automotive, military, banking & finance, and construction. By application, the market includes defense & VIP vehicles, cash-in-transit vehicles, commercial buildings, ATM booths & teller stations, and government & law enforcement.
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Regional Insights
Due to its thriving defense sector and rising rate of armed robberies, North America controls most of the global market for bulletproof glass. The world's leading producer and distributor of bulletproof glass is the United States. Due to the large amount of money allocated to the military, it is also the biggest consumer of these glasses. On the other hand, Asia-Pacific is predicted to experience profitable growth due to rising luxury car demand and a developing automotive sector in the region.
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