Safety Glass Market

The safety glass market is projected to grow in volume and value from 2022 to 2030, with an anticipated CAGR of +3.1% and +5.0% respectively. Consumption, production, imports, and exports are analyzed for leading countries like China, the United States, and Brazil. Growth rates and trends from 2012 to 2022 are highlighted, showing fluctuations but overall positive growth. Export prices and trends for major exporting countries are also discussed in the article.

Market Forecast

Driven by increasing demand for safety glass worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +3.1% for the period from 2022 to 2030, which is projected to bring the market volume to 1.5B square meters by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.0% for the period from 2022 to 2030, which is projected to bring the market value to $70.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Safety Glass

In 2022, consumption of safety glass increased by 0.2% to 1.2B square meters for the first time since 2019, thus ending a two-year declining trend. The total consumption volume increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of 9.3% against the previous year. As a result, consumption reached the peak volume of 1.3B square meters. From 2020 to 2022, the growth of the global consumption remained at a somewhat lower figure.

The global safety glass market revenue fell to $47.6B in 2022, dropping by -2.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $50.6B. From 2020 to 2022, the growth of the global market remained at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (226M square meters), the United States (153M square meters) and Brazil (152M square meters), together accounting for 44% of global consumption.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +10.6%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($13.2B) led the market, alone. The second position in the ranking was held by China ($3.5B). It was followed by Italy.

In the United States, the safety glass market expanded at an average annual rate of +2.1% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: China (-0.4% per year) and Italy (+4.1% per year).

The countries with the highest levels of safety glass per capita consumption in 2022 were Brazil (704 square meters per 1000 persons), Italy (503 square meters per 1000 persons) and South Korea (496 square meters per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Brazil (with a CAGR of +9.8%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Safety Glass

In 2022, the amount of safety glass produced worldwide expanded modestly to 1.4B square meters, picking up by 2.4% against 2021. In general, the total production indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.6% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 19% against the previous year. Global production peaked at 1.5B square meters in 2020; however, from 2021 to 2022, production remained at a lower figure.

In value terms, safety glass production declined to $44.6B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 9.3%. As a result, production attained the peak level of $47.4B, and then shrank in the following year.

Production By Country

China (616M square meters) constituted the country with the largest volume of safety glass production, accounting for 44% of total volume. Moreover, safety glass production in China exceeded the figures recorded by the second-largest producer, Brazil (151M square meters), fourfold. The third position in this ranking was taken by the United States (121M square meters), with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China stood at +7.1%. The remaining producing countries recorded the following average annual rates of production growth: Brazil (+10.9% per year) and the United States (+0.2% per year).

Imports

World Imports of Safety Glass

After six years of growth, purchases abroad of safety glass decreased by -4.9% to 410M square meters in 2022. Overall, total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.6% against 2012 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 13% against the previous year. As a result, imports reached the peak of 431M square meters, and then reduced slightly in the following year.

In value terms, safety glass imports contracted slightly to $11.6B in 2022. The total import value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 17%. As a result, imports reached the peak of $12.1B, and then shrank slightly in the following year.

Imports By Country

In 2022, the United States (53M square meters), followed by Germany (31M square meters), South Korea (26M square meters), Vietnam (22M square meters), Thailand (21M square meters) and Turkey (20M square meters) represented the largest importers of safety glass, together achieving 42% of total imports. France (16M square meters), Belgium (14M square meters), Mexico (11M square meters), the Netherlands (11M square meters), Italy (9.7M square meters), India (9.2M square meters) and Singapore (8.1M square meters) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +45.8%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($1.2B), the United States ($1.1B) and Vietnam ($711M) constituted the countries with the highest levels of imports in 2022, together accounting for 26% of global imports.

In terms of the main importing countries, Vietnam, with a CAGR of +43.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average safety glass import price stood at $28 per square meter in 2022, approximately equating the previous year. Overall, the import price, however, recorded a noticeable slump. The growth pace was the most rapid in 2018 when the average import price increased by 3.6%. Global import price peaked at $39 per square meter in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Belgium ($42 per square meter), while Singapore ($7.6 per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+2.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Safety Glass

For the sixth year in a row, the global market recorded growth in overseas shipments of safety glass, which increased by 1.5% to 625M square meters in 2022. Over the period under review, exports enjoyed a resilient expansion. The growth pace was the most rapid in 2017 with an increase of 65%. Over the period under review, the global exports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, safety glass exports contracted modestly to $12B in 2022. The total export value increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 20%. As a result, the exports reached the peak of $12B, leveling off in the following year.

Exports By Country

China dominates exports structure, reaching 395M square meters, which was approx. 63% of total exports in 2022. Germany (28M square meters), Poland (22M square meters), the United States (21M square meters), Malaysia (20M square meters), Turkey (16M square meters), Italy (13M square meters), Belgium (11M square meters) and the Czech Republic (9.7M square meters) held a little share of total exports.

Exports from China increased at an average annual rate of +14.3% from 2012 to 2022. At the same time, Malaysia (+32.2%), the United States (+11.0%), Turkey (+10.0%), Poland (+6.6%), the Czech Republic (+4.7%) and Belgium (+1.4%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in the world, with a CAGR of +32.2% from 2012-2022. Germany experienced a relatively flat trend pattern. By contrast, Italy (-2.7%) illustrated a downward trend over the same period. While the share of China (+23 p.p.) and Malaysia (+2.7 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Belgium (-2 p.p.), Italy (-4.4 p.p.) and Germany (-5.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($3.9B) remains the largest safety glass supplier worldwide, comprising 33% of global exports. The second position in the ranking was taken by Germany ($1.1B), with a 9.4% share of global exports. It was followed by Poland, with a 7.3% share.

In China, safety glass exports increased at an average annual rate of +8.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (+0.6% per year) and Poland (+6.6% per year).

Export Prices By Country

In 2022, the average safety glass export price amounted to $19 per square meter, falling by -1.6% against the previous year. In general, the export price showed a abrupt shrinkage. The pace of growth was the most pronounced in 2016 an increase of 38% against the previous year. As a result, the export price attained the peak level of $40 per square meter. From 2017 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($51 per square meter), while China ($10 per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+0.1%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform