Global Statistics Representing Fire-Rated Glass Market Scenario
As the name suggests, fire-rated glass or fire-resistant glass provides protection against fire. The effectiveness of fire-rated glass is assessed by gauging its performance during a fire-resistance test. Increasing fire-related accidents are propelling the demand for fire-resistant glass. Lately, the market for passive fire protection is observed to be witnessing significant growth, owing to the low maintenance cost of passive fire protection as compared to active fire protection. Certain types of fire-rated glass also provide a degree of protection, i.e. insulation, against heat. Fire-rated glass is designed to withstand 1,000° F temperature for a duration of 20 minutes to 3 hours, thereby enabling it to control the spreading of flames and smoke effectively. It also exhibits good processability and can be processed into hollow glass, laminated glass, coated glass, and dot-type curtain wall glass. Fire-rated glass is, therefore, an important component in buildings and often mandated by safety and building regulations.
The growth of the global fire-rated glass market is predominantly driven by the growing demand for passive protection system and equipment as well as the booming building & construction industry. Passive fire protection plays a crucial role in overall building safety and significantly reduces the number of fire accidents, which is another key factor supporting market growth. The adoption of various strategies by manufacturers such as innovation in product development and implementation of legislation and stringent building & safety codes is also expected to bolster market growth in years to come. For instance, in April 2017, the Jotun Group announced a € 16.87 million investment for a new R&D facility in Flixborough, U.K., which will focus on innovation in passive fire protection and insulation coatings.
The global fire-rated glass market was valued at USD 3.8 billion in 2018 and is projected to reach a value of USD 10.12 billion by 2026, registering a CAGR of 11.5% during the forecast period, 2019–2026.
The global fire-rated glass market can be segmented by solution type, glass type, application, and geography.
On the basis of solution type, the market can be segmented into glazing and insulation. The glazing segment is expected to gain significant traction in the global fire-rated glass market during the forecast period, owing to the superior impact performance, acoustic performance, and thermal performance offered by glazed fire-rated glass. Glazing helps minimize intrusive urban sound pollution, ambient noise, and reverberation and allows the entry of plentiful natural light.
On the basis of glass type, the market can be segmented into wired glass, ceramic glass, laminated glass, and others. The ceramic fire-resistant glass segment is expected to gain significant momentum in the global fire-rated glass market. Glass-ceramics consist of various oxide crystals that impart optical, mechanical, and electrical properties to the glass. Laminated fire-resistant glass is capable of blocking smoke and flames while resisting radiant heat and fire. This type of glass is extensively preferred by builders and architects to comply with fire safety regulations.
On the basis of application, the market can be segmented into building & construction, marine, and others. The building and construction segment dominates the global fire-rated glass market and is projected to remain the frontrunner throughout the assessment period. The growing use of fire-rated glass in the construction industry is expected to propel the growth of the global market. For instance, according to the global construction market is projected to reach a value of USD 8 trillion by 2030 and this growth will be driven by China, the U.S., and India.
Geographically, the fire-rated glass market has been segmented into North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa (LAMEA).
Europe is pegged to be the fastest growing region in the global fire-rated glass market during the forecast period, owing to favorable government initiatives, increasing foreign direct investments, and the prominent presence of key manufacturers.
The fire-rated glass market in North America is observing moderate growth, driven by the region’s regulatory scenario, which imposes stringent building safety standards. The intensifying focus on minimizing asset loss and maximizing human safety is expected to be a key factor driving market growth.
Asia Pacific and Middle East fire-rated glass markets are expected to witness significant growth in terms of volume, owing to the increasing demand for fire protection glasses from various end-use applications. Expanding and consolidated building and construction industries in emerging economies such as LAMEA and Asia Pacific are expected to further boost market growth in these regions.
Some of the prominent players operating in the fire-rated glass market are Asahi Glass Co., Ltd. (Japan), Vetrotech Saint-Gobain International AG (Switzerland), Asahi India Glass Ltd. (India), Central Glass Co., Ltd (Japan), Nippon Sheet Glass Co., Ltd (Japan), Promat UK Limited (U.K.), Pyroguard (U.K.), SCHOTT AG (Germany), and Technical Glass Products (U.S.).
Global Fire-Rated Glass Market Segmentation