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Global Fire Resistant Glass (FRG) Market to Grow at a CAGR of 10.4% During 2022-2027, Aided by the Rising Application of the Product in the Marine Sector

According to a new report by EMR titled, ‘Global Fire Resistant Glass (FRG) Market Report and Forecast 2022-2027’, the global fire-resistant glass (FRG) market stood at a value of USD 4.7 billion in 2020. The market is expected to grow at a CAGR of 10.4% in the forecast period of 2022-2027.

The fire resistant glass (FRG) market is driven by the rising application of the product in the marine sector, owing to the rising demand for fire resistant glass (FRG) in the merchant, offshore, and navy. Fire resistant glass (FRG) not only provides resistance to fire but is also capable of protecting a sea vehicle from intense light, strong winds, heat and cold, rain and waves. The product provides comfort to the occupants at the time when the aggressive winds can give a person sleepless night. The market will further be aided by the presence of reliable and highly experienced fire resistant glass (FRG) manufacturers in the emerging and developed economies of the world.

In terms of region, Europe is likely to account for a significant share in the market owing to the on-going mergers and acquisitions taking place between major fire resistant glass (FRG) manufacturers in countries like Germany, France, and the United Kingdom. Over the forecast period, the rising defence expenditure in United Kingdom and Germany is likely to generate a significant demand for the product from the navy. Fire resistant glass (FRG) is a crucial component towards manufacturing a strong and efficient naval ship, frigate, and destroyer. Hence, the growing awareness of the government, pertaining to the importance of fire resistant glass (FRG) in the manufacturing of naval ships, is likely to aid the market growth.

In November 2020, AGC Inc. (TYO: 5201) acquired Etex’s portfolio of OEM customer of the German market for fire-resistant glass. Etex is a multinational group which manufactures exceptional products, which are capable of protecting construction materials through effective insulation and high fire-resistance. Under this acquisition, the building and construction sector in entire Europe is anticipated to get bolstered, thereby, propelling the sale of fire-resistant glass (FRG).

Market Breakup by Products, Applications, and Region:

  • The market is segmented on the basis of product into wired, ceramic, tempered and gel filled.
  • The significant applications of fire resistant glass (FRG) include construction and marine.
  • Region-wise, the global market for fire resistant glass (FRG) can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for fire resistant glass (FRG) is driven by the rising demand for the product from the residential and commercial construction sector.
  • The growing demand for fire resistant glass (FRG) from the marine sector, owing to the growing manufacturing of naval ships, frigates, and destroyers is likely to propel the market growth.
  • The growing awareness about the high technical strength and great resistance to fire offered by the product will augment the market.
  • The market will further be aided by the rising awareness about the ability of the product to augment the aesthetic appeal of the product.

Key Offerings of the Report:

  • The EMR report gives an overview of the global fire resistant glass (FRG) industry for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the products, applications, and regions of fire resistant glass (FRG).
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global fire resistant glass (FRG) market include Schott AG, Pyroguard UK Ltd., Asahai Glass Co. Ltd., Fuso Glass India Pvt. Ltd., and Ravensby Glass Co. Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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