- Solid Acrylic
- Traditional Laminated
- Glass-clad Polycarbonate
- Ballistic insulated glass
- Other Types
Bulletproof Market size was valued at USD 7,453.8 million in 2022 and is poised to grow at a CAGR of 8.2% from 2023-2029. Bulletproof Glass is made up of a different layer of polycarbonate plastics that is optically transparent and strong and particularly resistant to penetration by any projectile. It is made up of a combination of two or more soft and hard glasses. The softer layer makes it more elastic, so it flexes but doesn’t shatter, whereas the harder one makes it hold together. According to a study conducted in the UK, bulletproof glasses usage has increased significantly in the last five years from 7.5 million to 17 million. This huge increase is due to the increased crime trend during the recession. The most likely reason for the demand for bulletproof glass is the availability of handguns in society that are used for self-defense. The ever-increasing safety concerns, increased terrorist attacks, and crime rates in stadiums and arenas, convenience stores and gas station, financial institutions, lodging facilities, and school are some factors that lead to the increase in the level of the bulletproof glass market. With the increased need for increased safety in military equipment worldwide, the bulletproof market plays a vital role in meeting the needs and standards of every country. However, the COVID-19 pandemic disrupted the import and export of the bulletproof glass market. Other than that, the declining defense budget of some countries, the higher price of raw material, and difficulty in their installation has affected the bulletproof glass market negatively. However, strong demand from retail shops, banks, military, government bodies, and liquor stores has led to a tremendous increase in the bulletproof market post-pandemic and is expected to burgeon the market in the forecast years.
Bullet Proof Glass Market Key Developments:
Fastest Growing Market
The market is expected to rise owing to increased threat to public safety and security, increasing terrorist attacks, and rise in the risk of thefts and robberies. Government regulations accelerate the bulletproof market to ensure maximum safety associated with public, and private bodies and financial institutions. The defense sector is anticipated to witness tremendous opportunities in the bulletproof glass market. This can be subjected to the increasing population, increase in the defense budget, war crisis between different countries, territorial expansions and the need to bolster the military strength of the nation. Bulletproof glasses have diverse applications in different industries such as construction, automobiles, banks and financial bodies, governmental bodies and, majorly the defence sector. These factors are anticipated to boost the market growth during the forecasted period.
The bulletproof glass market valued at USD 7,453.8 million in 2022 and is expected to grow at 8.2% CAGR over the forecast period 2023 – 2029.
The increased use of bulletproof glass in the automotive industry is a key opportunity for companies to enhance their revenue over the forecast years
An increase in the use of bulletproof glass in banks, vehicles, government bodies, and in the military is a major trend in the bulletproof glass market
The key players in the bulletproof glass market are Nippon Sheet Glass Co. Ltd, Total Security Solutions, CHOTT AG, China Specialty Glass AG, Consolidated Glass Holdings Inc and Asahi Glass Co. Ltd.