The increase in fire incidents will boost the fire resistant glass market. The revised fire safety standards and guidelines aimed at improving existing and new infrastructure offer lucrative opportunities for the market as the demand for fire-resistant glass in the construction sector will increase. The North American region emerged as the largest global fire-resistant glass market, with a market share of 36.31% by 2022.
Newark, 17 Nov. 2022 (GLOBE NEWSWIRE) — Smart Insights estimates that the $5.97 billion fire-resistant glass market in 2022 will reach $9.75 billion by 2030. Thousands of fire accidents occur in a year, resulting in the death of hundreds of people. Structural residential fires are among the most common fire incidents occurring on a daily basis worldwide. The amount of property damage is enormous. The loss of life is even more devastating. Most of these fires are caused by negligence or poor home maintenance. The demand for urban housing with the highest fire safety standards, such as fire-resistant glass, smoke detectors and other safety features, is increasing against the backdrop of increasing residential fires. The willingness of consumers to pay more for a safer home is good for the market. The improvement of government guidelines to improve fire safety to prevent or at least reduce the damage caused by accidental fires will also contribute to the growth of the market.
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Key insight into the Fire Resistant Glass market
The Asia Pacific is expected to grow the fastest during the forecast period.
The Asia Pacific market is expected to develop the fastest over the projected period. The increasing number of accidental fires in hospitals, factories and households has prompted governments to review fire safety protocols. The assessment and the following conclusions have highlighted the poor state of fire safety infrastructure in the region. Therefore, the government has improved its rules, regulations, guidelines and funding to implement global fire safety protocols that will improve fire safety infrastructure and prevent future avoidable fire accidents. The increasing incidence of daily fires has also prompted individual households to upgrade their fire safety infrastructure, aiding market growth.
The ceramic segment will increase the fire-resistant glass market during the forecast period.
The type segment is divided into wired, ceramic, tempered, gel-filled and others. The ceramic segment dominated the market with a revenue share of approximately 42% in 2022.
The building and construction segment is expected to increase the fire resistant glass market during the forecast period.
The application is divided into marine, building & construction and others. The building and construction segment dominated the market with a market share of approximately 48% by 2022. The building and construction sector has expanded due to the rising need for housing infrastructure and disposable income. Consumers are now more willing to pay for safe housing options because of rising disposable income. The government’s attempts to raise the bar for fire safety in infrastructure are also encouraging the expansion of the sector.
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Progress in the market
In search of a greener, more efficient fire-resistant glass, researchers at the Fraunhofer Institute for Environmental, Safety and Energy Technology in Germany conducted experiments with different materials. The end product is not harmful or carcinogenic; it enables windows to withstand temperatures in excess of 1000 degrees Celsius for up to two hours. In addition, only 20 kg of waste is produced every day on a production line that uses glass to make interior fire doors. In contrast, the daily waste generated during the construction of conventional fire-resistant windows ranges from 150 to 160 kg. In Frankfurt, the glazing is now part of the renovation of the Global Tower and the construction of the Grand Tower.
Driver: The increasing number of structural domestic fires
Increasingly frequent extreme weather events due to climate change are resulting in average daily temperatures that exceed previous records of extreme heat and cold. The rapid increase in temperature is concerning as it is the perfect environment for a spark fire to become dangerous due to the intense heat and dry conditions. In addition, a lack of understanding about how to prevent a fire, how to control its spread or how to take action when it breaks out leads to loss of life and property. Increased residential fires due to negligence, poor maintenance of electrics and a lack of fire safety infrastructure are of concern to authorities. Fire accidents are increasing due to insufficient accountability measures and lax application of fire safety regulations. The increase in the number of fire incidents will stimulate the market.
Limitation: Volatile world market resulting in insufficient supply and high raw material costs
Lockdowns, a cessation of business activity and the movement of people and products due to the pandemic led to an economic slowdown. The supply-side constraints, sluggish market demand and high cost of production materials were the disruptions caused by the pandemic-induced bans and lockdowns. Market expansion is expected to be impacted by the numerous economic and geopolitical factors contributing to worsening commodity price volatility.
Opportunities: Increasing infrastructure spending
Rapid urbanization in emerging countries has increased demand for homes, shopping malls, hospitals, schools and other infrastructures. Commercial space, production facilities and contributions to office space have all expanded as a result of industrialization. Recent years have also seen an increase in government capital expenditures to provide basic services to its citizens. Infrastructure development is only allowed if the building and construction industry adheres to fire safety standards set by the government. Therefore, the market will greatly benefit from the updated fire safety regulations and recommendations aimed at improving current and new infrastructure, which is experiencing exponential development.
Challenge: lack of responsibility
The recent events of massive fires, for example in China and India, have cast doubt on the poor state of fire safety in these countries. The assessment and audit reports highlight the various shortcomings in maintaining the fire infrastructure and the lack of accountability and oversight by regulatory authorities. Despite having paper mandates and guidelines on the maintenance of fire alarms, fire extinguishers, conducting fire drills and other fire safety measures, implementation on the ground is poor. The poor implementation of fire safety guidelines given the lack of accountability will test the growth of the market.
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Some of the major players in the fire resistant glass market are:
• AGC Inc.
• Diamond glass
• Nippon Sheet Glass Co. Ltd.
• POLFLAM sp. z oo
• Press Glass SA
• Pyro guard
• Safti First
• Schott AG
• Shandong Hengbao Fire Resistant Glass Factory Co. Ltd.
Coverage of the main segments in the market:
• Filled with gel
• Building & Construction
• North America (USA, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed by value (USD billion). All segments have been analyzed globally, regionally and nationally. The study includes the analysis of more than 30 countries for each component. The report analyzes driving factors, opportunities, restraints and challenges for gaining critical understanding of the market. The study includes Porter’s five forces model, attractiveness analysis, product analysis, supply and demand analysis, competitive position grid analysis, distribution and marketing channel analysis.
About the smart insights:
The Brainy Insights is a market research company, focused on providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimating model to meet customer goals of high-quality output within a short period of time. We offer both custom (customer specific) and syndicated reports. Our repository of syndicate reports is diverse in all categories and subcategories in all domains. Our bespoke solutions are tailored to meet customer requirements, whether they are expanding or planning to launch a new product in the global market.
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