Bulletproof glass market driven by rise in the number of financial institutions
Global Bulletproof Glass Industry is expected to rise at a positive CAGR in the forthcoming period. A bulletproof glass, as the name suggests, resists a strong attack from attackers and particularly offers a strong resistance for an object to penetrate. Technically, it is made from layers of two or multiple glass under a hard-soft combination. Commercially, the importance of bulletproof glass is increasing due to rise in number of financial institutions and commercial outlets.Bulletproof glass industry is driven by factors such as growing needs of security coupled with increase in mob and terrorist attacks.
The market is paving the way further in terms of deployment in trucks, bank vehicles, and ATM booths. Rise in the number of financial institutions coupled with demand for high security in many applications in developing economies is witnessing a significant contribution to the market growth in the forecast period.
Bulletproof glass industry is fragmented into end-use, application, and geography. End-use segmentation for bulletproof glass market includes banking & finance, construction & automotive. Application segment for bulletproof glass market includes cash-in transit, defense & VIP vehicles, and commercial buildings. VIP vehicles and commercial buildings segment account for a major share in the market due to high demand and rise in infrastructural development.
Regional segmentation for bulletproof glass industry includes North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. North America dominates the global market due to rise in resistive techniques used by manufacturers due to increase in thefts and robberies. Other factors like high demand for bulletproof glass in vehicles are likely to create favorable opportunities in the forecast period. Use of bulletproof glass for defence service vehicles also contributes to the market growth in the forecast period.
Asia-Pacific’s bulletproof glass industry is expected to gain a positive traction in the forthcoming period due to raise in finance sector and infrastructural development activities. Presence of untapped potential in APAC’s market leading to lucrative opportunities is likely to gain a positive traction in the forthcoming period. Prominent players in the bulletproof glass industry include Asahi Glass Co Ltd, China Specialty Co, Saint-Gobain S.A., Consolidated Glass Holdings Inc, SCHOTT AG, Total Security Solutions, SCHOTT AG, D.W. Price Security, Apogee Enterprises Inc and National Glass.