A number of factors such as the rising construction activities in the commercial and residential sectors, burgeoning urban population, and rising preference for luxury products, such as bathroom setups and décor-enhancing products, owing to the mounting disposable income of people, are expected to drive the North American acid-etched glass market at 5.5% CAGR during 2021–2030. The market was valued at $237.3 million in 2020, and it is projected to generate $403.1 million revenue by 2030.
The increasing urban population will drive the demand for acid-etched glasses in North America. As per the World Bank, the urban population of the U.S. grew from 270,737,596 in 2019 to 272,364,755 in 2020. The World Bank estimates that 82.664% of the U.S. population was urban in 2020. According to Statistics Canada, nearly 3 in 4 people in Canada resided in urban areas in 2021. As per this organization, nearly 73.7% of the Canadian population was urban in 2021.
Moreover, the flourishing tourism and hospitality industry will also contribute to the North American acid-etched glass market growth in the coming years. The World Bank revealed that the number of international tourists in Canada increased from 31,274,000 in 2018 to 32,430,000 in 2019. Moreover, the organization estimated that 166,009,000 international tourists arrived in the U.S. in 2019. A surge in tourist footfall will result in the large-scale construction of hotels and restaurants, owing to which acid-etched glasses will be used in abundance.
Browse detailed report – North America Acid-Etched Glass Market Analysis and Demand Forecast Report
In the coming years, the residential category will account for the largest share in the North American acid-etched glass market, under the end user segment. This can be owed to the expanding population base and booming urban population in the region. The U.S. Census Bureau states that the population of Idaho, Utah, Montana, Arizona, South Carolina, Delaware, Texas, Florida, Nevada, and South Dakota grew by 2.9%, 1.7%, 1.7%, 1.4%, 1.2%, 1.1%, 1.0%, 1.0%, and 0.9%, respectively, from 2020 to 2021.
According to P&S Intelligence, the U.S. held a larger share in the North American acid-etched glass market in the last few years. This was on account of the booming construction industry and soaring customer expenditure on office and home aesthetics, owing to the rising disposable income of people, in the country. The OECD estimates that the average household net adjusted disposable income per capita in the U.S. is $45,284 a year, which is extremely high than the OECD average of $33,604 a year.
Thus, the expanding tourism and hospitality industry and the burgeoning urban population will drive the demand for acid-etched glasses in the North American region.
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