Rising Population to Aid in Construction Glass Market Growth

From valuing $81.9 billion in 2015, the global construction glass market is predicted to grow to $135.9 billion by 2022, registering a 7.6% CAGR during the forecast period (2016-2022). The market is witnessing growth due to the rising need for energy conservation, expanding construction industry, and technological advancements in the glass industry. Construction glass is used especially in the construction projects. The glass is used in building construction in a combination with modern technology and materials, such as aluminum, concrete, and steel.

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Based on application, the construction glass market is bifurcated into residential and commercial. Between the two, in 2015, the higher revenue share in the market was held by the commercial application. The same application is expected to witness faster growth in the forecast period as well. The modern glass technology has helped in extending the use of glass from decorative purposes to structural and functional use. Advanced glass technologies have enabled commercial buildings to become more energy-efficient by allowing the access to more natural light.

The categories of the construction glass market based on region are north America, Europe, Asia-Pacific (APAC), and Rest of the World. In 2015, with the largest revenue share of 60.7%, the APAC region dominated the global market. In the forecast period, the APAC region is predicted to witness the fastest growth. This can be attributed to the swift industrialization and rising construction activities in emerging economies, such as India, Malaysia, Thailand, and China. With the improving economy in the region, the demand for new construction facilities, including factories, residential societies, and malls is growing.

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One of the major drivers of the construction glass market is the technological advancements that have taken place in the glass industry. Architects require the construction glass to be durable yet flexible enough to be molded into different designs and shapes.Other than aesthetics, glasses are being integrated with different technologies to enhance their application areas, such as the warm edge technology, which maintains the optimum temperature of the room, as compared to traditional windows. Manufacturers are focusing on developing sound-reflective, self-cleaning, and low-reflective glasses.

Some leading players in the global construction glass market include PPG Industries, Saint-Gobain S.A., Guardian Industries, S.A. BENDHEIM LTD., Schott AG, AGC Glass Company Inc., Central Glass Co. Ltd., Nippon Sheet Glass Co. Ltd., Asahi Glass, JE Berkowitz, and AGNORA.

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This release was published on openPR.