Report : Asia Pacific Laminated Glass Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Material Type (Polyvinyl Butyral, Ethyl Vinyl Acetate, Ionoplast Polymer, Aliphatic TPU, and Others) and Application (Building and Construction, Automotive, Electronics, Solar Panels, and Others)
The Building and Construction Segment to Dominate Asia Pacific Laminated Glass Market during 2021-2028
According to a new market research study on “Asia Pacific Laminated Glass Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Material Type, Application and Country,” is expected to reach US$ 15,149.74 million by 2028 from US$ 8,855.92 million in 2021. The market is estimated to grow at a CAGR of 8.0% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific laminated glass market along with the drivers and restraints pertaining to the market growth. Widescale application in building & construction industry, and benefits offered by laminated glass are major factors driving the growth of the Asia Pacific laminated glass market. However high price of laminated glass may hinder the growth of Asia Pacific laminated glass market.
The governments of Asia Pacific countries are taking possible steps to reduce the effects of COVID-19 by announcing lockdown, which is impacting the revenue generated by the market. The emergence of new COVID-19 waves in India, Thailand, and other Asian economies has prolonged the effect upon GDP. The ongoing COVID-19 pandemic is anticipated to cause huge disruptions in the growth of various industries of Asia Pacific. However, the uncertainty regarding the future outbreak, especially in countries such as India and a few other Asian countries, has altered the status of several industrial sectors. The governments of various Asia Pacific economies are taking possible steps to restrict the spread of the virus by announcing country-wide lockdown, which has a direct impact upon the growth of industrial sectors. This may impact the demand for laminated glass.
The market for Asia Pacific laminated glass is segmented into material type, application and country. Based on material type, the market is segmented into polyvinyl butyral, ethyl vinyl acetate, ionoplast polymer, aliphatic TPU, and others. In 2020, the polyvinyl butyral segment held the largest share in Asia Pacific laminated glass market. Based on application, the Asia Pacific laminated glass market is divided into building and construction, automotive, electronics, solar panels, and others. The automotive segment is expected to be the fastest growing segment over the forecast period. Based on country, the Asia Pacific laminated glass market is segmented into Australia, China, India, Japan, South Korea and rest of Asia Pacific. In 2020, China held the largest share in Asia Pacific laminated glass market. Furthermore, in this present scenario of COVID 19 pandemic, the Asia Pacific laminated glass market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Asia Pacific countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for laminated glass.
Asahi India Glass Limited; Central Glass Co., Ltd.; Fuyao Group; Guardian Glass LLC.; SCHOTT AG; Saint Gobain S.A.; Taiwan Glass Group and Xinyi Glass Holdings Limited are some of the leading companies in the Asia Pacific laminated glass market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
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