In terms of revenue, the global bulletproof security glass market was valued at US$ 3,711.8 Mn in 2020, and is expected to rise at a CAGR of 8.9% over the projected period (2021 to 2027).

Bulletproof glass, also known as ballistic resistant glass, is comprised of transparent materials that can withstand bullet damage. Bullet-proof glasses are primarily made of laminated glass layers. The military, automobile, construction, and banking, and finance industries all employ these glasses. As a result of the increasing number of terrorist incidents, governments around the world are installing bullet-proof glass to improve people's protection.

Drivers:

The expanding global automotive sector, together with the rising demand for premium vehicles, is primarily driving the expansion of the bullet-proof security glass market. According to the European Automobile Manufacturers Association, more than 80 million passenger cars were produced globally in 2017 and over 98.1 million motor vehicles were produced globally in 2018. As a result, the increased global automotive production is expected to drive growth in the Bulletproof Security Glass Market.

Bullet-proof glass is projected to expand in popularity due to the global financial boom. Because financial institutions are particularly vulnerable to terrorist attacks and robberies, bullet-proof glass is required in all financial sectors. According to the International Trade Administration, the US banking sector had $17.9 trillion in assets and $236.8 billion in net revenue at the end of 2018. With the biggest diversity of banking institutions and concentration of private credit anywhere in the world, the sector supports the world's largest economy.

Restriction on the Market

The market for Bulletproof Security Glass Market is projected to be limited by rising energy costs during manufacture. Because the glass manufacturing process is energy demanding and consumes a lot of energy, players are working on R&D to develop innovative and cost-effective technologies to save energy, preserve margins, and stay competitive. This issue is projected to limit the growth of the bullet-proof glass market.

Bullet-proof glass' market growth is expected to be limited by the high cost of raw materials used in its manufacture. The rising expense of raw materials such as polycarbonates, an industrial plastic used to make bulletproof glass, is putting a damper on product demand. As a result, market expansion is likely to be limited by the rising cost of raw materials used in the production of bullet-proof glass.