Asia-Pacific Bullet Proof Glass Market, By Type (Acrylic, Traditional Laminated Glass, Polycarbonate, Glass-Clad Polycarbonate, Ballistic Insulated Glass, Others), Security Level (Security Level, Standard Security Level), Car Make (Luxury, SUV, Sedan, Truck, Minivan, Convertible, Coupe, Hatchback, Others), End-User (Building and Construction, Banking and Finance, Automotive, Military, Others) - Industry Trends and Forecast to 2030.
Asia-Pacific Bullet Proof Glass Market Analysis and Size
The essential factors contributing to the growth of the Asia-Pacific bullet proof glass market in the forecast period of 2023 to 2030 include the rising demand for commercial security. Also, the high prevalence of security threats is significantly contributing to the market’s growth. Furthermore, rising defense expenditures in emerging economies, combined with high demand from residential buildings and premium vehicles, are expected to drive market growth.
Data Bridge Market Research analyses that the Asia-Pacific bullet proof glass market which was USD 2.38 billion in 2022, is expected to reach USD 5.06 billion by 2030, growing at a CAGR of 9.87% during the forecast period of 2023 to 2030. In 2023, standard security level segment will dominate the market due to the growing internal and external security threats. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Asia-Pacific Bullet Proof Glass Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Acrylic, Traditional Laminated Glass, Polycarbonate, Glass-Clad Polycarbonate, Ballistic Insulated Glass, Others), Security Level (Security Level, Standard Security Level), Car Make (Luxury, SUV, Sedan, Truck, Minivan, Convertible, Coupe, Hatchback, Others), End-User (Building and Construction, Banking and Finance, Automotive, Military, Others)
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Countries Covered
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China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia Pacific
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Market Players Covered
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Saint-Gobain (France), PPG Industries, Inc. (U.S.), AGC Inc. (Japan), Schott AG (Germany), Taiwan Glass Industry Corporation (Taiwan), Nippon Sheet Glass Co., Ltd. (Japan), Armortex (U.S.), Total Security Solutions (U.S.), Apogee Enterprises, Inc. (U.S.), Binswanger Glass (U.S.), Centigon (U.S.), Armassglass (Turkey), Stec Armour Glass (Malaysia), Total Security Solution (U.S.), D.W. Price Security (U.K.) and Smartglass International (Ireland), among others
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Market Opportunities
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Market Definition
Bullet-proof glass, also known as transparent armour, ballistic glass, or bullet-resistant glass, is an important component of security systems installed in areas where violent assaults, such as robberies, are likely to occur, as well as in cash trucks, banks, high-end vehicles, display cases, ATM booths, and other applications requiring advanced security features and bullet and small projectile protection. Bullet proof glasses are made to withstand one or more rounds of bullets, depending on their thickness and the weapon used to shoot at them.
Asia-Pacific Bullet Proof Glass Market Dynamics
Drivers
- Rising Demand for Commercial Security
The rising commercial security awareness is also fuelling Asia-Pacific demand for bullet proof glass. Due to the increasing threats, there is a growing concern for security in commercial sectors such as retail security, healthcare security, and transportation security, among others. The government's increased investment in defence budget is another driving factor in the bullet proof glass market. Increasing security threats is one reason why the government is increasing the defence budget to strengthen security defences.
Furthermore, the survivability of soldiers is driving the Asia-Pacific growth of the bullet proof glass market. These glass or vests aid soldiers in protecting themselves from bullets, knife attacks, and grenade explosions.
- High Prevalence of Security Threats
The growing internal and external security threats drive the bullet proof glass market. Rising public safety and security concerns, and increased applications for these glasses, will drive the growth rate of the bullet proof glass market. Furthermore, rising defense expenditures in emerging economies, combined with high demand from residential buildings and premium vehicles, are expected to drive market growth.
Opportunities
- Favourable Government Policies
Government regulations and policies have re-instated for accountability in hazardous accidents and events at sites. This has forced to take initiatives by leading personal protection and clothing as part of the industry norm and standard.
- Expanding Technological Advancements
The incorporation of newer technology in bulletproof glass represents a significant opportunity in the Asia-Pacific bulletproof glass market. The development of bulletproof materials using nanotechnology is expected to provide significant opportunities in this market. According to experiments, graphene absorbs ten times the energy of a penetrating projectile than steel. Technology advancements will likely improve bulletproof vests, presenting significant opportunities in the Asia-Pacific market.
Restraints/Challenges
- Stringent Regulatory Framework
A stringent regulatory framework in the Asia-Pacific bulletproof glass market can present significant challenges. It can lead to increased compliance costs, extensive documentation requirements, and prolonged approval processes. These factors can impede the introduction of new technologies and products, making it difficult for businesses to stay competitive. In addition, variations in regulations across different countries in the region can further complicate market entry and expansion efforts, potentially limiting the overall growth potential of the industry.
- High Production Cost
High production costs can act as a restraint in the Asia-Pacific bulletproof glass market in several ways. These costs can result from the use of specialized materials, advanced manufacturing techniques, and stringent quality control measures. Such expenses may make bulletproof glass products less affordable for potential customers, limiting their adoption in the market. In addition, elevated production costs can erode profit margins for manufacturers, reducing incentives for investment and innovation in the sector, which can hinder overall market growth.
Recent Developments
- In December 2021, The Queensland Government announced its intention to supply integrated load-bearing vests (ILBV) to the Queensland Police Service in August 2021. (QPS). The QPS will receive 12,200 new integrated load-bearing vests, which will replace the 4,750 ballistic plates and vests currently in service
- In June 2021, Researchers at MIT and the California Institute of Technology announced that they had created a nanoengineered material that is stronger than the current bullet proof vests made of Kevlar or steel. The material, which is composed of interconnected carbon "tetrakaidecahedrons," can absorb the impact of microscopic bullets
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Asia-Pacific Bullet Proof Glass Market Scope
The Asia-Pacific bullet proof glass market is segmented on the basis of type, security level, car make and end-user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Acrylic
- Traditional Laminated Glass
- Polycarbonate
- Glass-Clad Polycarbonate
- Ballistic Insulated Glass
- Others
Security Level
- Security Level
- Standard Security Level
Car Make
- Luxury
- SUV
- Sedan
- Truck
- Minivan
- Convertible
- Coupe
- Hatchback
- Others
End-User
- Building and Construction
- Banking and Finance
- Automotive
- Military
- Others
Asia-Pacific Bullet Proof Glass Market Regional Analysis/Insights
Asia-Pacific bullet proof glass market is analyzed and market size insights and trends are provided by type, security level, car make and end-user as referenced above.
The countries covered in the Asia-Pacific bullet proof glass market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, and Rest of Asia Pacific
China is expected to dominate the bullet proof glass market due to its strong manufacturing base and export of components required for electric vehicles. Japan is expected to grow at the fastest rate during the forecast period of 2023 to 2030 due to the region's high disposable income and increased population consumption.
The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and up-stream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Bullet Proof Glass Market Share Analysis
The bullet proof glass market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the company's focus related to bullet proof glass market.
Some of the major players operating in the Asia-Pacific bullet proof glass market are:
- Saint-Gobain (France)
- PPG Industries, Inc. (U.S.)
- AGC Inc. (Japan)
- Schott AG (Germany)
- Taiwan Glass Industry Corporation (Taiwan)
- Nippon Sheet Glass Co., Ltd. (Japan)
- Armortex (U.S.)
- Total Security Solutions (U.S.)
- Apogee Enterprises, Inc. (U.S.)
- Binswanger Glass (U.S.)
- Centigon (U.S.)
- Armassglass (Turkey)
- Stec Armour Glass (Malaysia)
- Total Security Solution (U.S.)
- D.W. Price Security (U.K.)
- Smartglass International (Ireland)
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