Growing demand for tinted glass in various end-use industries like residential and commercial buildings, automotive, furniture and others are anticipated to bolster the consumption rate in the coming years.
The growth of the global market for tint glass has dipped significantly in 2020, owing to the impact of the coronavirus pandemic. Restrictions on construction activity and automobile production, in addition to changes in consumer behavior, with increased purchases of essential has hampered the short-term scope of growth for the tinted glass market.
As per Future Market Insight’s, tint glass market research, global revenues are expected to reflect 6.7% CAGR for the assessment period between 2022 and 2030. According to its latest report the market is likely to gain impetus from the incorporation of smart glass technologies and major investments into the commercial real estate sector.
The tint glass sector is expected to display healthy growth throughout the assessment period, with the adoption of smart glass and laminate tech, and the widespread use of glass for aesthetics in construction.
On the other hand, volatility of raw material supplies and prices, and strict laws against the use of tinted glass, especially on automobiles could potentially hinder market growth in the long term.
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The report published by FMI encompasses an exhaustive overview of the market, covering essential dynamics of the tinted glass industry. Some key takeaways include:
Covid-19 Effect on Tint Glass Market
The rapid spread of the coronavirus pandemic coupled with the resultant lockdown regulations imposed by governments has had a largely adverse impact on the tint glass market. Consumers are more inclined to focus their disposable incomes towards essential commodities, reducing short term demand.
Further, the lockdown restrictions on the manufacturing, automotive and construction sectors have had a significant impact on vehicle production and building activities further limiting demand. The tinted glass industry also continues to face challenges from the tariff wars between the US and China, which compounds the effects of the pandemic.
However, the market is likely to display a steady recovery towards 2021, as restrictions by governments are relaxed with the objective of limiting the strain on national and global economies gains importance.
Who is Winning?
In a new report, Future Market Insights has provided detailed analysis of the varied business strategies being used by participants in the tint glass market. Leading players are largely focused on investing their resources towards strategic collaborations and product launches to consolidate position in a fairly fragmented landscape and to expand their portfolios.
Some of the more important players in the tint glass market include AGC Inc., Saint Gobain, Vitro, Guardian Glass LLC, Xinyi Glass Holding Ltd., Kinestral Technologies Inc., and Qingdao Vatti Glass Co. Ltd., among others.
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Tinted Glass Market - Key Segments
Color
Application
Design
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Feb 01, 2023
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