As per the latest market report published by Persistence Market Research, titled “Global Market Study on Bulletproof Security Glass: Middle East & Africa to Witness Highest Growth by 2021”, the global bulletproof security glass market stood at US$0.6 bn in 2015 and is expected to reach US$1 bn by 2021. The market is anticipated to rise at an 8.10% CAGR from 2015 to 2021.
There is an increasing demand for bulletproof security glasses in comparison to other types of security systems owing to the increasing security concerns because of terror attacks and increasing crime rates. For fulfilling these security requirements, the bulletproof security glass market is predicted to experience substantial growth in the coming five to six years.
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As per the report, the bulletproof security glass market is fuelled by increasing security and safety concerns amongst the common population. In addition, a number of mandates posed by governments all around the world targeting increased safety will also boost the market in the coming years. Furthermore, the bulletproof security glass market will grow owing to the development of the automotive industry, as a number of tech-savvy consumers demand bulletproof security glasses in their cars. Furthermore, owing to the expansion of the financial industries, there is a subsequent increase in revenue, resulting in the rise of financial services and institutions within emerging countries. This has further augmented the market for bulletproof security glasses.
On the other hand, factors such as the regulative guidelines set by green councils, coupled with the high energy costs associated with the manufacturing processes of bullet security glasses, may have a negative impact on the growth of the market. In addition, the increasing raw material cost may pose a major challenge to the growth of the market in the forthcoming future.
On the basis of application, the market is segmented into armored cash trucks, bank security glass, ATM booths, residential buildings, premium vehicles, display cases, and others. On the basis of end use, the bulletproof security glass market is segmented into the automotive industry, the financial service industry, the construction industry, and others.
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On the basis of region, the bulletproof security glass market is segmented into Europe, North America, APEJ, Japan, and Latin America. Amongst these regions, in 2014, North America held the biggest share in the market. On the other hand, in terms of value, the Middle East and Africa is the most swiftly developing regional segment of the market.
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The top players in the bulletproof security glass market include China Glass Holdings Limited, Asahi Glass co. Ltd., Nippon Sheet Glass, China Glass Specialty AG, Saint-Gobain S.A., PPG Industries Inc., Apogee Enterprises Corp., Taiwan Glass Ind. Corp., Guardian Industries, and Sisecam. Other prominent players dominant in the market include Guangzhou Sky Tiger Tempered Glass, Jiangsu Yongxiang Glass, Qufu Shenglu Bulletproof Glass Engineering, and Nanjing Xinfurui Glass Industry, among others.
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