The global tempered glass market to grow at a CAGR of 5.42% during the period 2018-2022.
Global Tempered Glass Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
According to the report, one driver in the market is increasing demand for smartphones and laptops. The smartphone market is growing at a rapid pace due to technological progress such as high-speed internet browsing, personal data management, and innovative applications. A decrease in the price of smartphones is also promoting the demand. The market has not recorded any negative effects due to the economic recession.
One trend in the market is anticipated use of tempered glass in photovoltaics. Tempered glass has a long-term growth opportunity in the PV industry. The PV industry is highly cost-sensitive due to the unprofitable nature of photovoltaics. Tempered glass could bring in changes in the PV industry because of its lightweight benefits. Lightweight PV panels reduce the cost of transportation, thereby reducing the final cost of solar panels.
Further, the report states that one challenge in the market is processing challenges. The tempering process, which includes heating (over 1,000 0F), quenching, and energy loss from the furnace, requires high energy to reach the tempered state. It requires a minimum energy of 4.76 kWh/m (kilowatt hour per square meter) to manufacture a glass of 10.2 mm thickness. This is expected to result in an escalation of manufacturing costs.