The global bulletproof glass market size was valued at USD 6.74 billion in 2021. The market is projected to grow from USD 7.37 billion in 2022 to USD 14.90 billion by 2029, exhibiting a CAGR of 10.6% during the forecast period.
This information is published by Fortune Business Insights, in its report, titled, “Bulletproof Glass Market, 2022-2029.”
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In the global market, chemical industry is the second largest manufacturing industry in Japan. In recent years, the Japanese chemical industry was the fourth largest industry globally following China, the United States, and Germany. Furthermore The Japanese chemical industry is dominated by a group of major corporations and tech Giants. The chemical industry is the backbone of Japan’s economy.
Defense & VIP Vehicles Segment to Hold Prime Share Due to Demand from Military
Based on application, the market is segmented into defense & VIP vehicles, ATM booths & teller stations, cash-in transit vehicles, commercial buildings, government & law enforcement, and others.
Military Segment Held Leading Share Owing to Growing Investment on Defense
Based on end-use, the market is categorized into automotive, military, banking & finance, construction, and others. The military segment held a leading market share, which can be linked with the surging sophistication of robberies and thefts pooled with surging terrorist attacks.
Geographically, the market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.\
We provide our reports which are conducted with an all-inclusive examination approach that majorly emphasizes on delivering precise material. Our scholars have applied a data triangulation method, which further assists us to offer trustworthy estimations and test the general market dynamics accurately. Further, our analysts have received admission to numerous international as well as regional funded registers for providing the up-to-date material so that the stakeholders and business professionals invest only in essential zones.
Drivers and Restraints:
Increasing Safety & Security from Automotive Industry to Uplift Demand for Bulletproof Glass
The market is increasing at a prompt pace owing to the increasing growth in automotive, construction, and military activities across the globe. The market is progressing, owing to aspects such as sturdy substitute to glass for structures and vehicles that require a surplus level of protection. The dramatic fluctuations in various end-use industries have influenced the bulletproof glass positively as security and safety of consumers and stakeholders have taken importance.
However, the amount of pollutants and toxic releases emitted amid the manufacturing process of these raw materials stands a major threat to human health and influences the environment as well.
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North America to Dominate Backed by Increasing Rate of Gun Violence
North America held a major bulletproof glass market share and was worth USD 2.27 billion in 2021. The market growth in North America can be credited to augmentation in riots and growing rate of gun violence within the region.
Asia Pacific is anticipated to have a considerable share in the global market attributed to the huge number of construction assignments undertaken in the emerging nations such as India and China.
The growth of the market in Europe is accredited to the surging trend of technologically developed buildings. Additionally, steps taken by the European Union (EU) to augment the usage of safety and security resources for buildings will navigate the market.
Crucial Business-related Proclamations by Chief Companies to Sway Market Dynamics
Crucial companies in the market often make important declarations concerning a few business moves, which, in turn, impact the market either positively or adversely. Players purchase companies, unveil novel products, involve in partnership deals, sign agreements with government organizations, and so on.
Key Industry Development:
June 2020: AGC Glass Europe is the first glass producer capable to provide Cradle to Cradle Certified Silver laminated glass. Since its Cradle to Cradle journey in 2010, AGC has been dedicated to incessant development and offers an expansive variety of Cradle to Cradle Certified silver and bronze certified products accessible on the market.
List of Key Players Mentioned in the Report:
- Nippon Sheet Glass Co., Ltd (Japan)
- Saint-Gobain (France)
- AGC Inc. (Japan)
- Smartglass International Limited (Ireland)
- SCHOTT AG (China)
- CSG Holdings Co., Ltd. (China)
- Total Security Solutions (U.S.)
- Apogee Enterprises, Inc. (U.S.)
- Armortex (U.S.)
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