The global market for bulletproof security glasses has been showing a decent development at present. The rapid increase in terror attacks across the world has boosted this market to a great extent. The rising concerns over safety issues have fueled the demand for bulletproof security glasses significantly and this factor is also projected to drive the bulletproof security glasses market in the future.
The global market for bulletproof security glasses is thriving currently, however, the changes proposed via the implementation of regulatory guidelines by green councils as well as the high energy costs associated with the production processes of bulletproof security glasses are hampering the market growth to a certain extent. In addition to this, the rising raw materials prices are expected to pose a serious challenge for this market in the coming years.
According to a market study published by Persistence Market Research (PMR), a market research and intelligence firm, the worldwide market for bulletproof security glasses stood at US$2.4 bn in 2015. Expanding at a CAGR of 8.80% from 2015 to 2021, the global market is likely to reach a value of US$3.9 bn by the end of 2021.
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Middle East and Africa to Post Fastest Growth in Global bulletproof security glass Market
The global bulletproof security glass market is spread across North America, Latin America, Asia Pacific excluding Japan, Japan, Western Europe, Eastern Europe, Central Europe, and the Middle East and Africa. Among these, the bulletproof security glass market in North America holds more than 26.8% of the overall market and has thus placed itself as the market leader. The U.S. and Canada are the two major markets in North America.
In 2015, this regional market reported a market value of US$638.7 mn. Analysts expect this market to expand at a CAGR of 8.10% between 2015 and 2021 and reach US$1,016.6 mn by the end of 2021. The rising demand for bulletproof security glasses from the automotive and construction industries is likely to drive the North America market for bulletproof security glasses. However, the Middle East and Africa market is anticipated to post the highest CAGR in the next few years.
Europe is the second largest market in the global market for bulletproof security glasses. Western Europe, Eastern Europe, and Central Europe are the three main divisions of the Europe bulletproof security glass market.
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Global bulletproof security glass Market: Segmentation and Key Players
The worldwide market for bulletproof security glasses is broadly analyzed on the basis of the application and end user of bulletproof security glasses. Based on application, the market is segmented into the markets for bank security glass, ATM booths, armored cash trucks, residential buildings, display case, and premium vehicles. The financial services, construction, and automotive industries are the key end users of bulletproof security glasses.
ÅžiÅŸecam, PPG Industries Inc., China Specialty Glass AG, Guardian Industries Corp., Taiwan Glass Ind. Corp., China Glass Holdings Ltd., Apogee Enterprises Inc., Saint-Gobain S.A., Asahi Glass and Co.Ltd., and Nippon Sheet Glass Co. Ltd. are the key companies operating in the global market for bulletproof security glass. Other prominent players of this market are Nanjing Xinfurui Glass Industry, Guangzhou Sky Tiger Tempered Glass, Qufu Shenglu Bulletproof Glass Engineering, and Jiangsu Yongxiang Glass.