Global Bulletproof Glass Market Is Expected to Grow at a CAGR of 8.91% during the Forecast Period (2019-2027)

According to Coherent Market Insights, the Global Bulletproof Glass Market is projected to exhibit a CAGR of 8.91% over the forecast period (2019-2027).

Key Analysis of the Global Bulletproof Glass Market:

Bulletproof glass is also known as bullet resistant, transparent armor, or ballistic glass which is a type of bullet resistant thermoplastic includes traditional tempered glass. This glass is manufactured using thermoplastic, polycarbonate and laminated glass. Bullet resistant glass can resist one or more rounds of bullets depending on the thickness of the glass, or weapons that are used to fire at it. Furthermore, weight, transparency and level of bullet resistance are other factors that are considered in the process of bulletproof glass manufacturing.

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The global bulletproof glass market is segmented on the basis of end-use industry, application, and region. Among application, the defense & VIP vehicles segment held the dominant position in the market in 2018, and is expected to retain its dominance throughout the forecast period. This is owing to growing incidence of political violence, terrorism and civil unrest, which has led to an increase in demand for bulletproof glass for armored vehicles. The defense & VIP vehicles segment includes vehicles used by embassies, transportation of personnel, premier vehicles, VVIP vehicles, combat vehicles, and others. Few armored vehicles used in the defense sector include infantry fighting vehicles, tactical tanks, main battle tanks and armored personnel carriers among others. As a result, the defense & VIP vehicles segment in the global bulletproof glass market is likely to expand significantly over the forecast period.

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On the basis of geography, the global bulletproof glass market has been segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The North America region is estimated to be a lucrative region for the bulletproof glass market, owing to widespread deployment and application of bulletproof security glass in this region. Hence, key players are focusing on new product launches and expansions to cater to increasing demand for bulletproof glass across various applications in this region. For instance, in March 2017, American Glass Products announced the launch of its next generation 22mm and 43mm Multi-hit B33 bulletproof glass which combines technology, lightness, elegance, and protection. It weighs 20% less than traditional bulletproof glass and is more durable. This development strategy helped the American Glass Products company to enhance its product portfolio in the global bulletproof glass market.

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Key Market Takeaways:

• The global bulletproof glass market is expected to witness a CAGR of 8.91% during the forecast period (2019–2027), owing to increasing automotive and commercial applications of bulletproof glass and militarization of law enforcement agencies worldwide.

• Rising crime and increasing demand for luxury cars is driving growth of the bulletproof glass market. According to Coherent Market Insights analysis, in 2018, BMW was the second largest manufacturer of luxury cars in the U.S., after Mercedes-Benz. BMW sold around 28,330 vehicles in November 2018, while Mercedes-Benz recorded sales of 31,022 vehicles. Luxury cars include features such as massaging seats, AirScarf, bulletproof glass, self-closing doors, and blind spot monitoring features, which is expected to drive growth of the global bulletproof glass market. However, government regulations, as well as increasing cost of various raw materials such as polycarbonate, are expected to hamper the growth of the global bulletproof glass market during forecast period.
• Some of the major players operating in the global bulletproof glass market include Saint-Gobain, Asahi Glass Co., Ltd. (AGC Inc.), Nippon Sheet Glass Co., Ltd, GUARDIAN GLASS LLC, Şişecam Group, Taiwan Glass Industry Corporation, SCHOTT AG, Phoenicia, Scheuten, and Consolidated Glass Holdings, Inc. among others.

Report segmentations:

• Global Bulletproof Glass Market, By End-Use Industry:
  • Financial Services Industry
  • Automotive Industry
  • Construction Industry
  • Others
• Global Bulletproof Glass Market, By Application:
  • Defense & VIP Vehicles
  • Cash-In-Transit Vehicles
  • Commercial Buildings
  • Government & Law Enforcement Bodies
  • ATM Booths & Teller Stations
  • Others
• Global Bulletproof Glass Market, By Geography:
  • North America
    • By Country:
      • U.S.
      • Canada
  • Europe
    • By Country:
      • Germany
      • Italy
      • France
      • Spain
      • Russia
      • Rest of Europe
  • Asia Pacific
    • By Country:
      • China
      • India
      • Japan
      • ASEAN
      • Australia
      • South Korea
      • Rest of Asia Pacific
  • Latin America
    • By Country:
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
  • Middle East & Africa
    • By Country:
      • GCC Countries
      • South Africa
      • Rest of Middle East & Africa
• Company Profiles

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/bulletproof-glass-market-2825

View source version on businesswire.com: https://www.businesswire.com/news/home/20190717005325/en/