"Rising importance of fire safety in construction sector is projected to drive the market growth"
The global fire resistant glass market size was valued at USD 3.02 billion in 2015. Rising emphasis on improving the fire safety standards of the commercial as well as residential infrastructure is expected to have a positive impact on the industry.
Fire resistant glass is used as fire and smoke barrier on account of its blocking capabilities of the transfer of conductive and radiant heat. They are capable of providing fire rating of 20 to 180 minutes. Moreover, these products consist of various fire resistive inter layers whereby, the material used in the product includes tempered, ceramic, and wired glass.
Over the past few years, governments from emerging economies including China, India, and the Middle East countries have increased expenditure on infrastructure development to cater to the rising urban population which is expected to create opportunities for foreign investments. Hence, the massive investment towards overall infrastructural development is anticipated to increase the demand for these products over the forecast period.
Significant demand in the automotive sector in the Asia Pacific region is projected to increase the usage of the product in automotive safety over the next eight years. Most of the manufacturers are focusing on delivering fuel-efficient vehicles, improving the safety standards. To meet these rigorous standards, the glass manufacturers have been witnessing considerable demand for the product.
Rising investment towards the development of these products like gel filled glass, by companies such as Saint-Gobain and Schott AG is expected to drive the industry over the forecast period.
U.S fire resistant glass market, by application, 2013 - 2024 (USD Million)
"Construction was the largest application segment in 2015"
Construction was the largest application segment, accounting for 68% of the global volume in 2015. Rising construction activities globally coupled with growing urbanization in emerging economies including Middle East, Africa, China, India, Thailand, and Vietnam are expected to be the key drivers for the industry growth.
The market volume of the product in construction was 9.12 million square meters in 2015 and is expected to witness significant growth. Growing emphasis by the regional governments in the mature economies of North America and Europe to obtain compliance certificate related adherence to fire safety norms of the buildings and infrastructure is expected to fuel the industry growth over the forecast period.
"Ceramic fire resistant glass was the largest product segment in 2015"
Growing use of ceramic glass in the form of insulated glass units (IGU) owing to their superior fire resistance from 20 minutes to 3 hours along with the ability to withstand thermal shock from fire hoses and water sprinklers is likely to drive the demand over the forecast period. The advantage of using various types of float glass in IGU including tinted, clear, mirrored and low-E makes them widely used product category which can serve the multiple purposes of fire protection and adherence to the energy codes. Furthermore, rising demand for ceramic product on account of its sound insulation properties is likely to augment market growth over next eight years.
Tempered product segment held a significant market share, owing to its clarity, affordable price range, and ready availability compared to various other counterparts including gel filled and ceramic glass. The tempered product segment accounted for 33.6% of global volume in 2015. Growing application scope of the product in preventing the spread of fire, smoke and radiant heat in exit access corridors and stairwells is expected to propel the market growth over next eight years. Furthermore, growing trend of installing fire doors in the buildings in combination with passive fire products is expected to drive the demand over the forecast period.
"North America is projected to dominate the global fire resistant glass market by 2024"
North America was the largest market, accounting for 33.5% of the global volume in 2015. The robust presence of fire safety regulations and building safety standards in light of growing emphasis by the regional government to minimize the asset loss and maximize human safety is expected to result in increased usage of the product in the region over the forecast period.
Asia Pacific and the Middle East are anticipated to witness significant growth in terms of volume at a CAGR of 7.8% and 11.1%, respectively. Rising demand for these glasses in MEA in the upscale residential and commercial infrastructure development is likely to drive the demand over the forecast period.
"Highly fragmented market owing to the presence of a large number of regional manufacturers"
The majority of fire resistant glass manufacturers have penetrated the market through annual supply contracts with buyers. Key operating companies in the market include Saint-Gobain, NSG Pilkington, Schott AG, Pyroguard UK Ltd, and Asahi Glass Co. Ltd.
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