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Fire-resistant glass offers protection against smoke, and flames and protects by blocking heat transfer. Fire-resistant glass is produced by incorporating several glass layers with fire resistive interlayers. A growing number of fire-related accidents cases has resulted in the demand for the fire-resistant glasses. Increase in government spending on residential & commercial building projects and automobiles may drive the overall industry growth during the forecast timeframe.
Stringent regulation imposed by the National Highway Traffic Safety Administration (NHTSA) and European Automobile Manufacturers Association (ACEA) for vehicular safety due to the accidents shall foster the overall industry growth. Additionally, the use of fire-resistant glasses in commercial and residential buildings due to the standards set by the Occupational Safety and Health Administration (OSHA) is expected to drive the market.
Fluctuations in the cost of raw materials like silicon, boron oxide, and other materials is likely to hamper the market growth.
Key Market Driver -
Increase in demand for safety in housing and automotive industry.
Key Market Restraint -
Fluctuations in the cost of raw materials
By product type, the market is segmented into wired, ceramic, tempered and laminated. Based on applications, the market is categorised into automotive, construction, fire fighting, defence and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The major companies catering in the global fire resistant glass market are Saint-Gobain, SCHOTT AG, NSG Pilkington, Pyroguard, Asahi Glass Co. Ltd. and Others.
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Regionally the Fire Resistant Glass Market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East & Africa. North America is the largest market attributed to the stringent Rules imposed by regulatory authorities to reduce the fire mishaps and accidents. Asia- Pacific is expected to be the fastest emerging market, accredited to the rise in end use industries in emerging countries like China and India. Europe is expected to show moderate growth. Latin America and Middle East & Africa are projected to register a comparatively higher CAGR by the end of the forecast period.
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