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Report Predicts Coated Glass Market Size May Reach $24.5 bn by 2024 Key Company Profiled in Guardian Industries, Sisecam Group, Saint-Gobain, Abrisa Technologies, Scheuten Glas, Pilkington Group
Coated Glass Market
Germany coated glass market is expected to grow significantly at a rate of over 3.5% during projected timeframe. Rising demand for green & energy efficient buildings, offices, hospitals and institution should bolster regional product demand. Stringent regulatory regimes in EU set forth by environment protection agencies regarding controlling emissions and energy efficiency should bolster product demand.
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Consumer inclination towards modern infrastructure owing to better aesthetics in projects has surged demand for coated glass market. Favorable government initiatives and schemes supporting infrastructure development in countries like China, India, Brazil and South Korea along with rising demand for automotive has further strengthened product demand. These products are designed to include desirable properties by modifying its composition and production process.
Growth drivers are
1. North America: Growing demand for clean source of energy with enhanced usage of solar panels in buildings
2. Europe: Technological advancement in automotive industry for convenient driving
3. Asia Pacific: Increased usage of heat reflective glass in buildings
4. High production cost
5. Environmental impact on glass durability
Factors such as improving economic conditions in countries along with increasing application scope are major drivers of coated glass market. These forms of products are usually covered or coated with an outer layer film having coating of mineral mostly China clay to provide smooth surface. It controls exposure of surface to vapors, improving absorption & transmission properties, reflection along with providing scratch & corrosive resistance.
Shifting consumer inclination towards energy efficient buildings along with growing construction spending by government and private construction companies should drive demand for coated glass products. Application of coated glass in building reduce energy consumption by over 25% along with cutting down CO2 emissions. Increasing usage of coated glass in construction of residential, commercial and industrial buildings should drive industry growth.
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Heat reflective coated glass industry should surpass USD 1 billion by 2024. This growth in demand can be attributed to increasing usage of these product in non-residential buildings which protect and allows only sunlight to pass through cutting down the solar heat in the building to minimize UV value resulting improvement in overall building energy efficiency. These form of products is coated with vacuum magnetron sputtering and driven by development of architectural aesthetics with appropriate sight shielding, energy saving and decoration.
Low-emissivity coated glass industry share should witness gains at over 5.5% by 2024. This growth in demand for this form of coated glass can be attributed to its enhanced application scope for both automotive and construction application. These products emit superior properties such as low surface emissivity making it ideal for use in automotive windscreens, rear & side windows surging product demand.
Hard coated glass industry is expected to account for over USD 4 billion by 2024. This surge of demand can be attributed to superior characteristics offered by the glass like good impact and abrasion resistance. These products do not break into big pieces upon impact thus reducing the probability of injury to life. Recent development in production technology offering enhanced performance by these products should bolster demand.
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Global coated glass industry share is moderately fragmented including key industry participants like Schott AG, Sisecam, Saint-Gobain, Guardian and Euroglas. These companies increasingly invest in R&D to enhance product portfolio along with enhancing application outlook. They also adopt strategies like joint venture, mergers & acquisition and partnership to expand their production capacity and regional presence.
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