Increasing need for energy-efficient temperature management and increasing demand for low cost raw materials to drive the growth of Global Construction Glass Market in the forecast period, 2022-2026.
According to TechSci Research report, “Construction Glass Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2016-2026”, The global construction glass market is anticipated to grow at CAGR of over 4%, in volume terms, during the forecast period to reach 148.52 million tonnes by 2026. Surging demand for durable and low-cost raw material is elevating the demand for construction glass through 2026. Increasing construction activities to accommodate growing population and properties of glass, such as excellent insulation, high strength, soundproof, fire-resistance, make it a perfect choice for construction material, thereby, driving the growth of the market through 2026.
The use of construction glass allows for more natural light to enter the building. This glass feature is exploited in advanced glazing systems to reduce the requirement for heating and cooling in buildings, lowering energy consumption and CO2 emissions as a result. Furthermore, technological improvements such as solar control glass, self-cleaning glass, sound-reducing glass and insulated glazing glass have raised the demand for construction glass products in residential and non-residential buildings.
Rapid increase in construction of commercial structures and residential buildings due to rise in urban population is anticipated to boost the demand for construction glass market globally. Additionally, several private construction companies and governments’ thrust across the world to develop residential and commercial infrastructure in their respective countries is expected to aid the construction glass market in the next few years.
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The global construction glass market is segmented on the basis of product type, application, manufacturing process, chemical composition, and regional distribution. Based on product type, the market can be segregated into special glass and low emissivity glass. Based on product type, special glass dominates the market with a share of 65.08% in the year 2020, owing to increased adoption of flat glass in residential and commercial buildings due to its various properties such as natural insulation and protection from UV rays & noise pollution.
Some of the market players, operating in the global construction glass market include:
- AGC Inc.
- Central Glass Co., Ltd.
- China Glass Holdings Limited
- Guardian Glass
- Nippon Sheet Glass Co., Ltd
- Schott AG
- Xinyi Glass Holdings Limited
- Saint-Gobain Building Glass
- Vitro, S.A.B de C.V
Market players in the construction glass market are focusing on product innovation to increase their share in the market. For instance, AIS started manufacturing of float glass and a range of high performance as well as value added glasses for interior and exterior applications to provide energy efficiency and aesthetics solution. Another category of glass, Polytronix glass is gaining prominence as it offers privacy and eliminates the requirement of blinds or curtains. Polytronix glass is created by sandwiching liquid crystal layer between two polyethylene terephthalate (PET) conductive films. Additionally, growing demand for sustainable and green construction is propelling growth of construction glass as it 100% recyclable.
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“Asia-Pacific is the dominating as well as the fastest growing construction glass region in the world, accounting for 42.25% market share in the year 2020. This can be attributed to the growing number of residential and commercial buildings, backed by broadening base of consumers and surging per capita income in the region. Asia-Pacific construction glass market is forecast to grow at a CAGR of 6.98% in the next five years. China is one of the largest markets for construction glass in the region, accounting for 47.56% market share in 2020. In 2020, the Chinese Communist Party instructed the administration of cities including Beijing, Shanghai, and Shenzhen to build more public rental flats for young people by 2025.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Construction Glass Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2016-2026, Segmented By Product Type (Special Glass and Low- Emissivity Glass), By Application (Commercial and Residential), By Manufacturing Process (Float Glass Process and Rolled/Sheet Process), By Chemical Composition (Soda-Lime, Potash-lead and Potash-Lime), By Region”, has evaluated the future growth potential of global construction glass market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global construction glass market.
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