Coated Glass Market to exceed 19.5 kilo tons by 2024 | Guardian Industries, Sisecam Group, Saint-Gobain, Abrisa Technologies, Scheuten Glas, Pilkington Group and PPG Industries
Coated Glass Market size was over USD 14 billion in 2016 and industry expects consumption above 19.5 kilo tons by 2024.
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According to a new research report by Global Market Insights, Inc.Coated Glass Market size is set to surpass USD 24.5 billion by 2024.
Rising population and better living standards of people along with stringent regulations pertaining to environmental issues initiated by EPA and REACH for construction projects, will drive coated glass market size. Safety regulations implemented by FEMA and LEED coupled with increasing middle class disposable income to buy luxurious vehicles, will further stimulate industry growth.
Increasing demand for clean source of energy along with addition of better aesthetical value to the buildings will drive coated glass market. Favorable government schemes along with growth in FDI funding in India and China has propelled the growth of construction and automotive industries in the region, thereby propelling product demand. Environmental concerns regarding CO2 emissions and consumer awareness towards energy efficient buildings will stimulate industry growth.
Low-E coated glass market demand from commercial buildings may exceed USD 4 billion by 2024. The product offers low surface emissivity and helps in reduction of UV-value, thus it enhances energy efficiency of the buildings and minimizes CO2 emissions. Increased R&D spending and technological advancement in the product portfolio will surge industry growth.
Solar control glass market demand from construction applications will witness gains at over 4% during the projected timespan. The products are used in combination to create multi-functional glazing which results in noise reduction, low-maintenance, enhanced safety & security and aesthetic appeal. They have a microscopically thin coating on one side of the glass which reflects the heat from the sun to the outside and keeps the interiors cooler, thereby enhancing the energy efficiency of the building and stimulating coated glass market growth.
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Hard coat glass market demand from automotive windshield application will witness steady gains at over 4.5% by the end of forecast period. Increased usage of product in windscreens to offer convenient driving during harsh weather conditions such as fog, ice, mud and rain will boost product demand. Growing automotive manufacturing base in Asia Pacific region along with acoustic, thermal & visual comfort and style & taste of the products in automobiles will positively influence coated glass market size.
U.S. solar control glass market size from residential buildings will exceed USD 50 million at the end of 2024. Increasing expenditure on household remodeling and renovation activities in the U.S along with promotion of renewable energy resources will fuel industry growth. Rising application of the product in automobile interiors combined with increasing automotive production output is anticipated to drive market growth to a certain extent.
India soft coat glass market size is likely to register significant gains close to 6% during the forecast timeline. Increasing construction projects along with styling flexibility, transmittance and reflection properties of these product will drive regional industry growth. The product offers thermal performance and neutral appearance similar to its counterparts, resulting into coated glass market demand.
Europe, with steady growth in Germany, UK and France coated glass market size will exceed 380 million square meters during the forecast period. Builders are more concerned towards safety & security, environmental protection and natural insulation in residential as well as commercial buildings. Superior solar performance, absorption, transmission and reflection properties of the product along with increasing approach towards achieving greater energy efficacy of the buildings will drive industry growth.
Key raw materials such as soda ash, natural gas, and silica coupled with specialized chemical and mechanical are used in manufacturing coated glass. High production cost and environmental impact on glass durability may hamper coated glass market supply demand gap.
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Prominent industry players in coated glass market are Guardian Industries, Sisecam Group, Saint-Gobain, Abrisa Technologies, Scheuten Glas, Pilkington Group and PPG Industries. Shift in consumer trends towards energy efficient products along with growing demand for cleaner energy sources, will force manufacturers to develop and enhance product portfolio and take strategic initiatives to meet consumer demand.
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