According to the latest report published by Credence Research, Inc. “Global Bulletproof Security Glass Market - Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global bulletproof security glass market accounted for US$ 4.24 Bn in 2017, expanding at a CAGR of 11.3% from 2018 to 2026.
Browse the full report Global Bulletproof Security Glass Market - Growth, Future Prospects and Competitive Analysis, 2018-2026 report at https://www.credenceresearch.com/report/bulletproof-security-glass-market
Market Insights
The global bulletproof security glass accounted for US$ 4.24 Bn in 2017 growing with a CAGR of 11.3% during the forecast period from 2018 to 2026. Bulletproof security glass is basically made up of various transparent materials with an arrangement of two or more types of glass, one hard and one soft that can resist any damage from bullets or small projectiles. The number of layers stacked depends on the level of security of glass for which it is being used. The glass product is produced by using various ballistic materials such as acrylic, polycarbonate, thermoplastic and glass-clad polycarbonate. The refractive index of the glasses that are used in the manufacture of bulletproof glass should be identical which in turn makes it transparent.
The bulletproof glass market is mainly driven by growing demand of global automotive industry. This coupled with growing demand from tech savvy consumers for various value added automobile products is also propelling the growth of bullet proof security glass market in the automobile segment during the forecast period. In addition, increasing expansion of financial institutions and services in developing countries followed by huge infrastructural development is also expected to augment the market demand during the forecast period. Growing demand from defense and military installations is also driving the global bulletproof security glass market. Trend shows that manufactures are focusing on developing innovative bulletproof security glasses owing to the rising security concerns from defense and military industry. For example, Saint-Gobain Crystals deals with transparent sapphire glass armoring that aims to protect military vehicles. These windshields and windows are basically made of large sheets of sapphire that are laminated with multiple layers of glass and polycarbonate with an objective to withstand corrosive gases and sand abrasion that are emitted during rocket fire. Increasing demand owing to rising security concerns following higher crime rates and terror attacks are other factors expected to drive the global bulletproof security glass market. However, regulatory bodies are focusing on lowering emission rates which has hampered the process of development of lighter bulletproof glass which in turn is restraining the market growth during the forecast period. In addition, increasing cost of various raw materials such as polycarbonate is also expected to hamper the growth of this market.
The global bulletproof security glass market has been segmented by end-user, application and geography. In 2017, automotive segment dominated the global bulletproof security glass market by end-users. The growth is mainly attributed to growing use of armored vehicles to prevent blast attacks. Manufacturers are mainly focusing on developing new bulletproof security glasses to cater to the rising security concerns arising out of automobile industry. For example, Tyneside Safety Glass, based in UK, provides various bulletproof security glass that includes flat panel glass and curved glass constructions for motorsport vehicles, production cars, hobby kit cars and recycling collection lorries among others to cater to the security concerns that arise out of its automotive segment. In terms of application, defense & VIP vehicles segment held the largest revenue and volume share in 2017 owing to rising incidences of terrorism, political violence and civil unrest. Hence users are resorting to bulletproof security glass for defense and VIP vehicles. In terms of geography, North America is the most prominent market and held the largest market share both in terms of value and volume in the global bulletproof glass market. High demand of bulletproof security glass products in the U.S from various end user industries that includes automobile, defense and security is expected to trigger the market growth in North America region during the forecast period. Manufacturers in the U.S and Canada are also focusing on investing in research and development and expanding its operation to develop innovative bulletproof security glasses which in turn is driving the North America bulletproof security glass market during the forecast period. For example, Prelco Inc, based in Canada, expanded its operation of specialized glass manufacturing in Saint-Jacques by providing glass products that includes bulletproof security glasses for automobile, industrial and commercial market.
Key market players in the global bulletproof glass market include Nippon Sheet Glass Co., Ltd, Asahi Glass Co., Ltd., Saint-Gobain S.A., Taiwan Glass Ind. Corp, American Glass Products, Schott AG, Consolidated Glass Holdings, Inc., China Specialty Glass AG, Guangdong Golden Glass Technologies Limited, Guardian Glass and Total Security Solutions among others.
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