According to a market report by Lucintel, the future of the glass alternative material market looks promising with opportunities in the visual application, automotive, electronic, construction, medical device, aviation, and energy applications. The global glass alternative material market is expected to reach an estimated $13.1 billion by 2028 with a CAGR of 6.2% from 2023 to 2028. The major drivers for this market are rising popularity of acrylic as a glass substitute owing to its vast availability, appealing optical clarity, simplicity of machining, and a variety of colors and growing number of newly constructed buildings and renovation of old commercial structures.
In this market, polycarbonate and transparent wood are the two types of glass alternative material used by various end use industries. Lucintel forecasts that polycarbonate will remain the larger product type segment over the forecast period due to the substantial use of these materials in building elements, including doors, windows, inner walls, living room partitions, and various architectural projects.
Within this market, construction is expected to witness the highest growth over the forecast period due to the rapid urbanization, increasing number of commercial building development and refurbishment projects, and growing popularity of single family homes across the globe.
APAC is expected to witness the highest growth over the forecast period due to the rising level of disposable income of the population, ongoing infrastructural development, and significant potential for the leading manufacturers in the developing economies in India and China.
Covestro, Trinseo, Mitsubishi Gas Chemical, Evonik Industries, and 3A Composites are the major suppliers in the global glass alternative material market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global glass alternative material market by product type, light transmission, application, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Glass Alternative Material Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global glass alternative material market by product type, light transmission, application, and region, as follows:
Glass Alternative Material Market by Product Type [Value ($B) Shipment Analysis from 2017 to 2028]:
Polycarbonate
Transparent Wood
Others
Glass Alternative Material Market by Light Transmission [Value ($B) Shipment Analysis from 2017 to 2028]:
Glass Alternative Material Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:
Visual Application
Automotive
Electronic
Construction
Medical Devices
Aviation
Energy
Others
Glass Alternative Material Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
North America
Europe
Asia Pacific
The Rest of the World
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.
About Lucintel
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This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the global glass alternative material market by product type (polycarbonate, transparent wood, and others), light transmission (up to 80%, >80%-90%, and >90%), application (visual application, automotive, electronic, construction, medical devices, aviation, energy, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?