Bulletproof Glass Market Size, Share & COVID-19 Impact Analysis, By Application (Defense & VIP Vehicles, ATM Booths & Teller Stations, Cash-in Transit Vehicles, Commercial Buildings, Government & Law Enforcement, and Others), By End-Use (Automotive, Military, Banking & Finance, Construction, and Others), and Regional Forecast, 2022-2029

The global bulletproof glass market size was valued at USD 6.74 billion in 2021 and is projected to grow from USD 7.37 billion in 2022 to USD 14.90 billion by 2029, exhibiting a CAGR of 10.6% during the forecast period. North America dominated the bullet proof glass market with a market share of 33.68% in 2021. The United States bulletproof glass market is projected to grow significantly, reaching an estimated value of US$ 4.28 Billion by 2030.

The global COVID-19 pandemic has been unprecedented and staggering, with bulletproof glass experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a decline of 2.4% in 2020 as compared to 2019.

Bulletproof glass, also known as bullet-resistant glass or ballistic glass, is made through layers of glass sheet bonded with polyvinyl butyral or polyurethane. The rising demand for the product from several end-use industries, including automotive, defense, aerospace, and construction is attributable to the market growth. This glass provides safety and security from outer attacks of guns, bombs, and other armed equipment. Rising safety concerns from consumers and increasing investment into improving defense within countries are surging the product demand.

LATEST TRENDS

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Increasing Expenditures of Emerging Economies in Various End-Use Industries to Boost Market

Strong demand from the military, governmental structures, retail shops, liquor stores, banks, and other industries is anticipated to boost the market's growth. Military and defense use bulletproof glass in viewports and windows in ground vehicles and aircraft, mine detection, armory equipment, fighting vehicles, battle tanks, and carrier trucks. Also, the product is used at military bases, bunkers, and guard posts to protect from outer terrorists or accidental attacks. Further, the outstanding security benefits of these glasses were translated into civil and municipal spaces. The rising product application of transparent ballistics-resistant laminations in bank security creates market opportunities.

Moreover, bullet-resistant glass is installed at transaction windows in community and council buildings, windows for government buildings, and witness boxes in courtrooms. Also, shop fronts and transaction windows are routinely fabricated from ballistic glass, providing efficient protection from small arms fire and acting as a deterrent to petty criminals and prospective thieves.

COVID-19 IMPACT

Disruptions in Import and Export Activities Due to COVID-19 Impacted Product Demand

The pandemic significantly affected the automotive industry due to the shutdown of manufacturing units and disruption in the supply chain of raw materials. Further, the global lockdown resulted in lowered demand for automobiles due to restrictions on passenger travel. Moreover, the product demand was also affected due to the closing of malls, jewelry shops, retail stores, and businesses that require security access. The closure of these several small and large-scale businesses affected the bulletproof glass market growth.

However, governments of various countries are enacting supportive regulations and attempts to re-establish economies with support from the growing industries, such as automotive and construction, resulting in rising product demand. Increasing geopolitical conflicts during the pandemic in European and the Middle Eastern regions have elevated the demand for the product as a mode of protection for civilians against gun violence.

DRIVING FACTORS

Rising Safety & Security from Automotive Industry Will Surge the Demand for Bulletproof Glass

The bulletproof glass market is growing at a rapid pace owing to rising growth in automotive, construction, and military activities globally. The market is growing due to factors such as a durable alternative to glass for structures and vehicles that need an additional level of protection. The dramatic changes in several end-use industries have impacted the bullet proof glass positively, as the security and safety of consumers and shareholders have taken priority.

Further, the rising construction industry is also affecting the market as the demand for a variety of bullet-resistant glass solutions to provide different levels of protection to businesses and government facilities has increased. The glass is an ideal material for preventing theft, slowing down intruders, and protecting employees as they count or store cash and other valuables.

Moreover, the construction of stadiums, manufacturing plants, office buildings, shopping centers, and other government projects has expanded dramatically. This would have a direct influence on the demand for long-term aesthetic and safe construction solutions in these structures, resulting in a rise in product demand.

RESTRAINING FACTORS

High Price of Bulletproof Glass to Hamper Market Growth

A bulletproof glass comprises materials such as acrylic, polycarbonate, and thermoplastic, which are in moderate to expensive price range. However, the number of pollutants and toxic emissions released during the manufacturing of these raw materials pose great risks to human health and impact the environment as well. The total cost of the product is decided based on material cost, installation expenses, electricity cost, and its functional features, which include different levels of resistance according to the type of bullet or gun used. The process and technology of production of bullet proof glass are costly as they require materials that are rare in nature. Further, stringent government regulations on plastic consumption are anticipated to cause hindrance to the market growth.

SEGMENTATION

By Application Analysis

Defense & VIP Vehicles Segment to Account for Prime Share Due to Demand from Military  

Based on application, the market is segmented into defense & VIP vehicles, ATM booths & teller stations, cash-in-transit vehicles, commercial buildings, government & law enforcement, and others.

The defense & VIP vehicles segment held the largest share in the market owing to rising geopolitical issues among several nations across the globe. This has resulted in increasing expenditure on improving the military structure and adopting advanced armors, thereby surging the product demand. ATMs have always been a subject of thefts related to cash and machines. The use of the product provides protection from robbery and vandalism from criminals. The developing technology among glasses is surging the product demand for several niche applications. In cash-in-transit vehicles, the implementation of certified bullet proof glass materials from well-established suppliers ensures a high level of protection for personnel and valuables.

The era of globalization and expansion activities led to the construction of large commercial structures globally, especially in developing countries. This has resulted in the construction of architecturally advanced commercial offices that use designer glasses to improve aesthetic appeal while providing resistance from violent outer attacks. The government & law enforcement segment includes the use of ballistic glass for political and law enforcement protection in automotive and construction applications. Governmental structures are prone to terrorist attacks, whereas law enforcement needs the product as a mode of protection to and from criminals and prevention from gun violence. Other segments include the use of bulletproof glass in passenger cars, electric and electronic devices, and educational institutions.

By End-Use Analysis

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Military Segment Held Dominating Share Owing to Rising Investment in Defense

Based on end-use, the market is categorized into automotive, military, banking & finance, construction, and others.

The military segment held a dominant market share, which can be associated with the rising sophistication of robberies and thefts coupled with increasing terrorist attacks. The product is being consumed for application in armor, military vehicles, and base camps. The growth in the automotive segment can be attributed to the rising consumption of products for manufacturing windscreens, side windows, and back screens while also providing transparency and protection from external attacks. Financial institutions and banks are obvious targets for robbery due to the large amounts of money and valuables. This resulted in increasing awareness of personal and employee safety, thereby driving the product consumption.

The construction segment includes the use of the product for windows, partitions, doors, panels, and other applications. This glass is used in malls, retail stores, and commercial offices, especially in a location in dense urban areas. These stores have cash on hand and operate in all types of areas, some of which are naturally more likely to be affected by crime, including armed robbery. The others segment includes the use of the product in electrical & electronic gadgets such as display windows and billboards. The product provides protection from gun and armored firing during attacks, which, in turn, prevents electrical misshapen.

REGIONAL INSIGHTS

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North America held a dominant bulletproof glass market share and was valued at USD 2.27 billion in 2021 with a market share of 33.68%. The market growth in North America can be attributed to the rise in riots and increase in rate of gun violence within the region. The growing inclination toward increasing the protection of infrastructures from terrorist attacks and wars is creating market opportunities. Further, rising consumer awareness for personal safety in residential structures and automobiles is surging the product demand in the region. 

Asia Pacific is estimated to have a significant share in the global market, attributed to the large number of construction projects undertaken in developing countries, including India and China. The large population among the countries has surged the construction of tall residential and commercial buildings that require high-end safety and security for consumers, thereby driving the market growth.

The growth of the market in Europe is owed to the rising trend of technologically advanced buildings. In addition, steps taken by the European Union (EU) to increase the use of safety and security materials for buildings will further drive the market. Moreover, rising geopolitical conflicts in parts of Europe have surged the product consumption for military and law enforcement applications.  

Latin America will have gradual growth throughout the forecast period. The growth was observed in the building of medical institutions, hotels, commercial offices, police stations, and other architectural spaces. Further, the results of the U.S. elections might promote constructive re-engagement of the U.S. with Latin America and support regional exports.

In the Middle East & Africa, rising demand for expensive glass infrastructure with the use of advanced technologies is expected to create huge opportunities for the market. Further, the growing construction industry is a result of rapid urbanization. Also, external companies are investing large sums resulting in commercial sector growth, which helps contractors in the region to efficiently include the aesthetically pleasing glass structures within the buildings.

KEY INDUSTRY PLAYERS

New Product Development and Acquisition Projects by Key Players to Intensify Competition

Major companies operating in the market are Nippon Sheet Glass Co., Ltd, Saint-Gobain, AGC Inc., Smartglass International Limited, SCHOTT AG, and others. The key companies profiled have adopted strategies, such as product innovation, acquisition, and collaboration, to gain a competitive edge. For example, in March 2019, Vetrotech Saint-Gobain inaugurated the start-up of a new “state-of-the-art” combination IGU (Insulated Glass Unit) and TPA (Thermal Plastic Application) production line in its facility located in Namysłów, Poland. The site is entirely dedicated to the manufacture of Contraflam fire-resistant glass, where this investment is expected to increase flexibility and raise output by up to 20%.

LIST OF KEY COMPANIES PROFILED:

• Nippon Sheet Glass Co., Ltd (Japan)


• Saint-Gobain (France)


• AGC Inc. (Japan)


• Smartglass International Limited (Ireland)


• SCHOTT AG (China)


• CSG Holdings Co., Ltd. (China)


• Total Security Solutions (U.S.)


• Apogee Enterprises, Inc. (U.S.)


• Armortex (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• June 2020: AGC Glass Europe is the first glassmaker able to offer Cradle to Cradle Certified Silver laminated glass. Since the beginning of its Cradle to Cradle journey in 2010, AGC has been fiercely committed to continuous improvement and offers the widest range of Cradle to Cradle Certified Silver and bronze certified products available on the market.

REPORT COVERAGE

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The global market report covers detailed market analysis and concentrates on crucial aspects such as competitive landscape, applications, and end-uses. Also, the report offers insights into market trends and highlights vital industry developments. In addition to the factors mentioned above, the report encompasses various factors that have contributed to the growth rate of the market in recent years.

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