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Market Overview
Bulletproof glass is transparent armor or ballistic glass made from an extremely strong transparent material designed to resist projectile penetration. The raw material used to make bulletproof glasses includes thermoplastic, acrylic, polycarbonate, and glass-clad polycarbonate, based on the level of protection sou.
get for an application. Bulletproof glass combines two or more types of glass, one hard and another soft. The bulletproof glass market experienced a decline in 2020 owing to the COVID-19 impact. The reduction in demand from the end-use industries caused a severe disruption in the global bulletproof glass market.
Furthermore, the rise in global military expenditure and rising global security challenges are key drivers for market growth. At the same time, the high costs associated with bulletproof glass are expected to prevent its wider adoption and are a key challenge for the market's growth.
Many companies are now researching new materials and manufacturing methods to increase value generation and generate new growth from the pandemic-induced downturn. The forecast period is expected to see more innovative products in this sector. Sicurtec, an Austrian family company that manufactures bulletproof glass, introduced the Sicurtec_Bullet, an ultra-thin bulletproof polycarbonate glass with a thickness of only 36mm.
Bulletproof Glass Market Dynamics and Trends
The rise in global military expenditure drives the market share for bulletproof glass.
The rise in global military expenditure drives the market share for bulletproof glass.
Due to emerging security challenges and great power competition, military expenditure is rising globally. The global military expenditure totaled nearly US$ 1.98 trillion at the end of 2020, an increase of 2.6% in real terms from 2019, according to the Stockholm Global Peace Research Institute (SIPRI), a security think tank.
U.S. accounts for the largest share, with a budget of US$ 778 billion, more than the next 10 nations combined. China, India, and Russia follow it. All the major world powers are modernizing and expanding their armed forces; hence, defense spending has soared.
With a few exceptions, all the major world powers have a well-developed military-technical base, allowing them to field new and innovative weaponry more quickly at reduced costs.
Most acquisition funds go towards high-tech weaponry such as fighter jets, warships, and tanks. However, significant expenditure is also made on defensive acquisitions, such as troop protection and bulletproof glass. More attention is paid to troop survivability and limiting battlefield casualties; spending on ballistic protection, such as armor and bulletproof glass for troop vehicles, is set to increase.
Therefore, the rise in global military expenditure is a key driver for the growth of the global bulletproof glass market.
High costs associated with bulletproof glass create a huge challenging atmosphere for the growth of bulletproof glass
Bulletproof undergoes a complex manufacturing process. The glass must be thick to withstand multiple shots from handguns and rifles. However, the index of refraction must be kept intact between the multiple levels since the glass must be transparent. High-skilled labor is required for the manufacturing of bulletproof glass. Innovative and proprietary technologies are used in the manufacturing process, increasing costs.
Bulletproof glass is also made to order; hence each glass panel manufactured is uniquely customized to clients' requirements. The only mass production occurs for institutional buyers, such as the police and the military. Since bulletproof glass is a life-or-death matter, the glass undergoes exhaustive testing to conform to the accepted national and global ballistic protection standards. The testing is wide-ranging and complex and therefore adds to the cost of the glass. Bulletproof glass is heavy; hence suitable modifications must be made to cars, armored vehicles, and homes to install the glass.
Thus, the high costs associated with bulletproof glass only leave well-funded governments with the ability to make mass purchases. Governments and civilians from poor and underdeveloped countries cannot afford the high costs, although these countries may have the most urgent requirements due to their poor security environment. The high costs associated with bulletproof glass are the key challenge for the market's growth.
COVID-19 Impact on BulletProof Glass Market Growth
The global bulletproof glass market experienced a strong decline in 2020 owing to COVID-19's impact. Governments globally imposed strict lockdowns of varying durations starting from March 2020 to curb the spread of the emerging COVID-19 pandemic.
The lockdowns caused disruptions in the operations of end-user industries, mainly armored vehicle manufacturers. Many manufacturers had to scale down or suspend operations owing to government regulations. Manufacturing is a capital-intensive process. With reduced revenues, many industries had to scale back, suspend or postpone capital investments due to the effects of the pandemic. North America, one of the largest markets for bulletproof glass, went under strict restrictions by May 2020, and economic activity reduced sharply, recovering somewhat by late 2020. Revenues for bulletproof glass companies thus show slight improvement towards the end of 2020. However, rising cases and the second pandemic wave hit North America and Europe in late 2020. Thus demand remained subdued from 2020 through early 2021.
The reduction in demand from the end-use industries caused a severe disruption in the global bulletproof glass market. The research and development of new technologies and the introduction of new products were delayed. Many small and medium-scale enterprises in the bulletproof glass supply chain were facing bankruptcy due to the reduced demand; since being a niche market, many enterprises had single revenue streams.
Bulletproof Glass Market Segmentation and Shares
The global bulletproof glass market is segmented on material, security, end-user, and region.
Acrylic material is a versatile plastic material with various purposes and benefits, available in a spectrum of colors and opacities
Based on material, the global bulletproof glass market is segmented into acrylic, laminated glass, polycarbonate, glass-clad polycarbonate, ballistic insulated glass, and others. Acrylic material dominates the market of the mentioned materials. Acrylic is a transparent thermoplastic homopolymer often colloquially referred to as plexiglass. The material has unique properties that make the material ideal for various purposes, ranging from basic household items to fiber optic cables that power the world.
Further, acrylic is a versatile plastic material with various purposes and benefits, available in various colors and opacities. The material offers high impact resistance, is lightweight, and has better optical clarity, dimensional stability, inherent weather ability, UV resistance, and high chemical resistance.
Acrylic is now most typically available in sheets of varying thicknesses. The thickness of an acrylic sheet determines factors such as impact resistance. Cast acrylic sheets come in various thicknesses ranging from.06 inches to 4 inches. Generally, the thickness determines the price of acrylic sheets. Bulletproof glass made of acrylic sheets provides a safe and cost-effective solution to creating safer environments. The glasses are more than 30% less expensive than other bulletproof glass made of bullet-resistant laminated glass and polycarbonate.
Furthermore, bullet-resistant plexiglass is the most often purchased bulletproof material since it can be drilled, routed, cut, and mounted without cracking or shattering any structure. In addition, bullet-resistant plexiglass can be polished and is optically clear.
Bulletproof Glass Market Geographical Analysis
Asia-Pacific has witnessed high demand for bulletproof glasses in vehicles due to rising security threats and disposable incomes
Asia-Pacific has witnessed increased spending on military & defense due to rising stress between neighboring countries. In March 2021, China announced a yearly defense budget of US$ 209.2 billion, marking a 6.8% gain from US$ 183.5 billion in 2020.
Agencies are also working on R&D to develop efficient products for the military & defense. For instance, Border Security Force has developed a special bulletproof bunker that allows vigilance of the border area through a periscope. The bunker is made of thick armor and bulletproof glass and can be lifted and placed anywhere. The portability is convenient for the force when shifting vigil posts.
Moreover, bulletproof glass manufacturers must comply with the test and regulations formed by the particular countries. For instance, no paramilitary or police force in India can buy bulletproof equipment unless the Central Forensic Science Laboratory (CFSL) certifies them. The equipment, which should be tested at CFSL, includes bulletproof jackets, glasses, and bulletproof bunkers.
Moreover, the region has also witnessed high demand for bulletproof vehicle glasses due to rising security threats and disposable incomes. Another important reason behind the rising adoption of bulletproof vehicles is reducing national defense budgets by many countries. For example, countries such as Indonesia and Thailand decreased their budget by around US$ 558 and US$ 555 million, respectively, from 2019 to 2020.
In the last 10 years, India has exported US$ 1.42 Million worth of Bulletproof Glasses products overseas. In 2018, the total value of export of Bulletproof Glasses from India was 0.11 million and the leading importing nations from India were Rep. of Korea and Germany.
Bulletproof Glass Companies & Competitive Landscape
The global bulletproof glass market is highly competitive with local and global key players. The key players contributing to the market's growth are AGC Inc, PPG Industries Inc, Saint-Gobain, Nippon Sheet Glass Co., Ltd, Apogee Enterprises, Inc., and Taiwan Glass Ind. Corp., Total Security Solutions (TSS), Schoot AG, Binswanger Glass, Armassglass, Stec Armour Glass (M) SDN BHD, Armortex, Centigon Security Group (A subsidiary of Carat Duchatelet Holdings)others.
The major companies are adopting several growth strategies, such as product launches, acquisitions, and collaborations, contributing to the global growth of the bulletproof glass market.
• For instance, on June 06, 2019, Total Security Solutions expanded its Michigan Manufacturing with the Grand Opening of a New Facility. The new unit is located just down the road from the previous space with TSS's manufacturing and administrative capabilities.
Saint-Gobain
Overview: Saint-Gobain is a France-based company engaged in manufacturing, designing, and providing materials. The company operates in various business segments, including Construction, Automotive, Health, Security and Protection, aeronautical, and food & beverages sectors. The company generates 75% of its sales from the construction sector. The company provides services in North Europe, the Americas, South Europe, the Middle East, and Asia-Pacific and operates in 70 countries. The company has over 100 subsidiaries and offers products and services in 5 categories; insulation is categorized under the interior finishing category.
Product Portfolio: VETROGARD BULLET: The company offers a laminated bullet-resistant glass solution, which comprises a multi-layer lamination of interlayer films and glass panes that can withstand various pistol, rifle, shotgun, and AK-47 assault rifle projectiles. The product offers various advantages such as –
• Certified to EN 1063
• Splintering (S) and non-splintering (NS) options
• Available as insulated glazing
• Covering bullet-resistance classes BR1 to BR7•Withstands shotgun classes SG1 and SG2
• Countless multifunctional options.
Key Development
• On October 4, 2021, Vetrotech Saint-Gobain, a growing expert in fire safety and high-security glass solutions with the expertise of over four decades, unveiled a new bullet-resistant glass, a 65mm thick Vetrogard. The product has been developed, tested, and certified in India. Vetrotech's first-of-its-kind NIJ bullet-resistant glass in India has been tested to the NIJ standard for Level 3 bullet resistance.
The global bulletproof glass market report would provide approximately 61 market data tables, 55 figures, and 212 pages.