The global market for bulletproof security glass is majorly influenced by the growing security and safety concerns all across the globe. This has resulted in high demand for bulletproof glass, which is likely to increase substantially in the forthcoming years. Ongoing market trends indicate that the global bulletproof security glass market, which is currently valued at US$2,397.5 million, will reach a market value of US$3,972.5 million by 2021, thereby registering an 8.8% CAGR between 2015 and 2021.
Bulletproof glass is a strong, multilayered variant of glass, which makes it more durable. Bulletproof glass is also known as ballistic glass, transparent armor, and bullet-resistant glass. These glasses are made of a combination of a soft and a hard variety of glass. The materials that make ballistic glass resistant to the effects of bullets and small projectiles are glass-clad polycarbonate, thermoplastic, and acrylic.
Adoption of Latest Technology: A Prominent Growth Principle
The global market for bulletproof security glass is segmented on the basis of end use, application, and region. Based on end use, this market is categorized into construction, financial services, aerospace, marine, automotive, and others.
Application-wise, the global bulletproof security glass market is segmented into premium vehicles, bank security glass, residential buildings, armored cash trucks, display cases, and ATM booths. Service providers and manufacturers operating in the global bulletproof security glass market are mainly engaged in consistent R&D activities with a view towards improving and enhancing the quality of bulletproof glass.
Moreover, this market lays immense emphasis on the development and adoption of newer technologies that will help in the production of bulletproof glasses of the highest quality. Bulletproof security glass can be distinguished on the basis of its thickness.
Global Bulletproof Security Glass Market to be driven by Security-Related Government Mandates
Geographically, the global bulletproof security glass market is categorized into Europe, the Middle East, Asia Pacific, North America, and Rest of the world. With a market share of 26.8%, North America dominates the global bulletproof security glass market, followed by the Europe bulletproof security glass market.
The rapid growth of the North America bulletproof security glass market can be attributed to the widespread deployment and application of bulletproof security glass in this region. It is anticipated that the North America bulletproof security glass market will expand at an 8.1% CAGR in the forecast period, thereby reaching a market value of US$1,016.6 million in 2021, up from US$638.7 million at present.
However, it is anticipated that the Africa and the Middle East bulletproof security glass markets will witness robust growth in the forecasting horizon. Apart from growing safety and security concerns, government rules that aim at minimal risk and security needs in the global financial market also have a positive impact on the growth of the global bulletproof security glass market. The global market for bulletproof security glass also derives much of its demand from the booming financial and automotive markets.
Some of the prominent companies operating in the global bulletproof security glass market are Guardian Industries, Apogee Enterprises Corp., PPG Industries Inc., Nippon Sheet Glass, Asahi Glass Co., Ltd., China Glass Specialty AG, Saint-Gobain SA, and Sisecam, amongst others.
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