Fire-Resistant Glass Market Share Worth USD 6,570 Million By 2030 | CAGR of 5%

Fire-resistant glass is made to endure temperatures of up to 1,500 degrees Fahrenheit. They help prevent smoke, fire, and extreme heat. These glasses are utilized in doors, windows, partition walls, and stairways, among other applications, by the building and construction, maritime, automotive, and aerospace sectors. Due to increased fire occurrences within the building and construction industries, the market for fire-resistant glass is rising. As a result, strict guidelines have been established for using fire-resistant materials in construction projects. Raw material and equipment suppliers, manufacturers, distributors/installers, and end-users make up the global fire-resistant glass market value chain. Sand, soda ash, and lime are the primary raw materials used to make glass. They account for a substantial amount of the total cost of the glass-making process. Market Dynamics Increasing Occurrences of Fire Accidents and the Growth in Premium Construction Sector to Drive the Market In response to the increase in fire occurrences over the past decade, governments worldwide have boosted spending to enhance the fire prevention of buildings, including residential and commercial structures. This has resulted in higher government spending in various regions for infrastructure improvement, which is anticipated to enhance the market for fire-resistant glass in infrastructural development over the forecast period. Due to the population shift into urban economic centers, growing demands for urban housing projects, high-rise structures, and apartments have led to the construction of residential projects with poor fire safety regulations. Multiple fire spread pathways, such as stairwells, elevator shafts, pipe shafts, air passageways, cable shafts, and several more vertical shafts, contribute to the rapid out-of-control spread of fire. In addition, the absence of well-planned building compartmentalization, notably in hotels, comprehensive buildings, libraries, office buildings, and other high-rise buildings, results in difficult-to-control fires that result in more excellent property and asset damage. The longer evacuation durations required, the superior vertical dimensions of these structures, and the inaccessibility of fire-suppression zones aggravate the fire-related threats in these structures. These considerations have driven governments to ensure that building contractors adhere to fire safety laws and building codes. It is expected that this will raise demand for fire-resistant glass in the future years. Expansion of the construction sector is a significant driver in the fast growth of the fire-resistant glass market. Numerous global locations are witnessing substantial investments in luxury development. For instance, in June 2020, JLL Capital Markets approved a plan to offer construction financing for a 25,000-square-foot building featuring 11 luxury apartments in New Jersey, United States. Hines and Humphreys Capital will announce plans to construct a five-story midrise with 326 rental flats in September 2020. Due to a growing population, fast urbanization, favorable climatic conditions, and economic progress, Southeast Asia and the Middle East markets are becoming increasingly appealing. Fire-resistant glass is frequently utilized in the construction sector due to its capacity to prevent the spread of fire and smoke and minimize the energy consumption of buildings. Government funding increases for large-scale infrastructure and residential projects in emerging markets are predicted to dramatically enhance the demand for fire-resistant glass. Impact of COVID-19 The global market for fire-resistant glass experienced a drop due to the COVID-19 pandemic. Due to the spread of coronavirus, the GDP of significant economies dropped. Globally, governmental and regulatory authorities enacted lockdowns that affected market players' operations and activities. Due to the pandemic's consequences, small, medium, and large-scale industries endured economic hardship. The pandemic affected all market actors along the industry's value chain, including raw material suppliers, distributors, manufacturers, and end-use industries. The pandemic directly impacted industrial company activities. The first half of 2020 was horrible, resulting in a catastrophic global economic and health disaster. As economic activity resumed, the market began to recover the lost gains. All factories, logistics centers, supply networks, and construction sites were closed until May-June 2020. Following this, companies began to extend their activities. In 2020, the businesses increased their efforts to recoup their losses. Each factory, building site, and office incur additional costs for health and safety. Regional Insights Region-based market segments for fire-resistant glass are North America, Central and South America, Europe, Asia-Pacific, and the Middle East and Africa. With a CAGR of 4%, the North American market will reach USD 2,031 million by 2030. During the forecast period, the demand for passive fire protection is predicted to be driven by the rising purchasing power of consumers and the emphasis placed by government and regulatory agencies on boosting the overall fire safety standard of buildings. In Canada and the United States, the installation of monolithic wired glass has been forbidden in all hazardous places. However, it is still permissible in all non-hazardous areas, including transform site overhead doors. In addition, rising demand for multifamily housing developments and expanding consumer awareness of fire safety are fueling regional market expansion. The region's demand for fire-resistant glass is anticipated to climb due to an increase in orders from the automobile aftermarket, increased military spending, and increased awareness of the necessity to install fire safety items in structures. The Asia-Pacific region is also estimated to witness considerable growth at a CAGR of 5%, accounting for USD 1,525 million by 2030. Due to the region's expanding building activity and fire-related events, the need for fire-resistant glass is expected to rise, especially in the region's emerging economies. Following the COVID-19 pandemic, infrastructure spending has surged, which is expected to improve building industry demand for fire-resistant glass. In May 2020, for instance, the Chinese government issued bonds for USD 150 billion, surpassing its previous infrastructure development commitment of USD 101 billion in January. According to the International Trade Administration, China also launched a campaign entitled "New Infrastructure." It focuses on developing seven domains, including 5G networks, inter-city transportation and inner-city rail systems, industrial internet, artificial intelligence, data centers, ultra-high voltage, and charging stations for new energy vehicles. Consequently, this increases the demand for solid infrastructure, which is anticipated to boost the fire-resistant glass market. Key Highlights The global fire-resistant glass market was valued at USD 4,351 million in 2021. It is expected to grow at a CAGR of 5% by 2030, accounting for USD 6,570 million during the forecast period (2022–2030). Based on products, ceramics is expected to be valued at USD 2,755 million at a CAGR of 4% during the forecast period. Based on end-use industries, the building and construction industry is expected to be valued at USD 3,832 million at a CAGR of 4% by 2030. Among the regions, North America is expected to dominate the market with a share of USD 2,031 million at a CAGR of 4% during the forecast period. Competitive Players Key players in the global fire-resistant glass market are FG Glass, Shandong Hengbao fireproof glass factory co., LTD., Ravens by Glass, Termoglas, Bischoff Glastechnik GmbH, Central Glass Co., Ltd., Tosoh Silica Corporation, Cardinal Glass Industries, Inc., Orotuff Glasses Pvt. Ltd., and Alder Glass. Market News In 2022, the McGrory Glass in Paulsboro, N.J, started operating in a new 76,000-square-foot facility focused on fabricating fire-rated and security glass, glazing, and assembly systems. In 2022, the Pyrobel Vision Line fire-rated Glass from AGC was selected to divide the Science Tower laboratory of the University of Hasselt in Belgium. Global Fire-Resistant Glass Market: Segmentation By Product Wired Ceramic Gel-filled Tempered Others By End-User Building and Construction Marine Others By Regions North America Europe Asia-Pacific Central and South America The Middle East and Africa