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Global Architectural Glass Market Forecast Analysis to 2023, Key Players- AGC, Saint-Gobain S.A , Guardian glass, NSG, Shahe Glass, CSG.
Global Architectural Glass Market
With changing times and evolving needs, the glass industry has transformed to produce various forms of glasses. One such glass format is the architectural glass. Currently, the industry is dominated by this format of glass which is heavily processed and is a high-performance glass majorly used in the automotive and architectural sectors. Retail, Residential and beverage industries have a strong hand in the increase in demand of the glass industry and architectural industry in particular.
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Major raw materials that go into glass making are silica sand, soda ash, limestone and cullet. The soda ash accounts for over 50% of the raw material cost. High transportation and infrastructure cost set up also keeps the number of players of the industry in check. The product is strongly governed by strict government regulations owing to its use in the construction and automotive industry. LEED (Leadership in Energy and Environmental Design) defines set standards for the implementation of any form of speciality glass, architectural being one. GANA (Glass Association of North America) also ensures the production of glass to be in compliance with Type III Environmental Product Deceleration (EPD) which is in conformance with ISO 21930 and 14025. Major industries are being set up in the Asia Pacific zone owing to low labour costs, government subsidies and easier availability of raw materials.
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Global Architectural Glass Market Size Analysis:
The per capita glass consumption has significantly increased from 0.58 to 1.8 in the last few years. And the architectural glass market has surpassed $80 billion in 2016. India alone is investing over $15 billion in 2017 with over 45% market share. The rapid industrialization, heavy investment in architectural settings and renovation of old airports and establishment of newer airports are a major reason for its increasing demand. The demand is majorly seen in China, Malaysia and Thailand, are being the pioneers of efficient technology. Over the course of a few years, the glass industry as a whole is said to increase at a CAGR of 15%. Contributing to this growth are the government schemes that support housing and increased demand in the beverage industry. Major glass producers are Saint Gobain, Asahi India Glass etc which account for 55% of the organized market.
With a high growth rate and a high demand, architectural glass is the star element of the glass industry. With the movement of the rural population into the urban civilization and intense focus on tough, many-resistances glass, this glass’s growing demand is well justified.
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