According to a new market report published by Persistence Market Research “Global Market Study on Bulletproof Security Glass Market – Middle East & Africa to Witness Highest Growth by 2021”, the global bulletproof security glass market was valued at USD 2,395.7million in 2015 and is expected to expand at a CAGR of 8.8% from 2015 to 2021, to reach USD 3972.5 million by 2021.
Bulletproof glass also known as bullet-resistant glass, transparent armor, and ballistic glass is made up of transparent materials that can resist any damage from small projectiles and bullets. It is usually made with an arrangement of two or more types of glass, one hard and one soft. The glass product is produced using ballistic materials such as polycarbonate, acrylic, glass-clad polycarbonate, and thermoplastic that can withstand any damage from small projectiles and bullets.
Conversely, proposed changes and regulative guidelines by green councils and energy cost involved in manufacturing processes for bulletproof security glass are perceived as minor growth restraints. In addition, rising cost of raw materials such as polycarbonate could pose a challenge to market growth in the near future. The global bulletproof security glass market is anticipated to grow from an estimated USD 2,395.7million in 2015 to USD 3972.5 million by 2021 at a CAGR of 8.8% during the forecast period.
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Amongst various security systems, the bulletproof glass is a majorly demanded system in the recent time due to the increasing security concerns following the increasing terror attacks and crime rates. In order to fulfill the increasing security needs the market is expected to witness a significant increase in the next five to six years.
Growth of the bulletproof security glass market has been increasingly driven by growing automotive industry globally. Growing automotive industry coupled with increasing demand for value-added automobile products from tech-savvy consumers is expected to further boost the demand for bulletproof security glass in the automotive industry segment. The revenue from expanding financial industry is expected to dominate owing to increasing expansion of financial institutions and services in developing countries due to growing need for capital.
North America is expected to represent the largest market in 2015, accounting for 26.66% of the total market share. However, The Middle East & Africa is expected to record the highest growth during the forecast period due to increasing infrastructural development in the Middle East.
Asahi Glass co.Ltd, China Glass Holdings Limited, Nippon Sheet Glass, Saint-Gobain S.A., China Glass Specialty AG, PPG Industries Inc., Taiwan Glass Ind. Corp., Apogee Enterprises Corp., Sisecam, Guardian Industries are some of the leading players in the bulletproof security glass market. Other major players of the market include Qufu Shenglu Bulletproof Glass Engineering, Guangzhou Sky Tiger Tempered Glass, Nanjing Xinfurui Glass Industry, Jiangsu Yongxiang Glass etc.
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The bulletproof security glass market is segmented as follows:
- Bank Security Glass
- Armored Cash Trucks
- ATM Booth
- Display Case
- Residential Buildings
- Premium Vehicles