Bulletproof security glass market is experiencing a surge in demand, attributed to growing security concerns around the globe. Its market is highlighted in a new research report by Future Market Insights, which showcases an in-depth analysis of different aspects of the market, its application and demand. This comprehensive research report is titled ‘Bulletproof Security Glass Market: Global Industry Analysis 2013–2017 and forecast 2018–2026’.
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According to the report, the global market for bulletproof security glass is triggered by an upturn in many other industries like automotive, infrastructure, and defense, where it is notably used. The forecast says that global bulletproof security glass market is expected to reach a value of over US$ 6,100 Mn by the end of 2026, witnessing a stellar CAGR of 9.0% during the eight year forecast period.
Bulletproof Security Glass Market: Snapshot
Exploding growth of construction and automotive industries is identified to be a key factor driving the demand for bulletproof security glass worldwide. According to the market report, commercial and institutional construction is expected to represent a market value of over US$ 5, 00,000 Mn in global bulletproof security glass market, which is higher than any other end-use industry in the market. However, in terms of growth rate, automotive industry is ahead. There is a huge scope for application of bulletproof security glass in the upcoming cars, which is why the automotive industry is expected to grow at a CAGR of 9.6% during the forecast period. Asian countries, especially India, is anticipated to witness significant demand in upcoming years.
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Emergence of Lightweight Bulletproof Glass Trends in the Global Market
The market research report has come up with many new facts about the market growth and demand prevalence. Although bulletproof glass is in high demand from almost each sector worldwide, its adoption by automotive sector may have to encounter with certain challenges due to heavy weight that exerts more pressure on vehicles and fosters emission levels. However, regulatory bodies are putting extra emphasis on lowering emission rates which has fastened the process on development of lighter bulletproof glass in the market. Global players are focusing on more investments in R&D activities to enhance their product portfolios. Many major players are also seen focusing on expanding their global footprint through various mergers and acquisitions. This trend is expected to continue over the next few years.