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Booming Construction Industry provides impetus to the Global Advanced Glass Market Growth
Inkwood Research evaluates that the Global Advanced Glass Market is estimated to project a CAGR of 3.95% in terms of revenue and 3.36% in terms of volume during the forecast period, 2019-2028."Browse 63 Market Data Tables and 47 Figures spread over 175 Pages, along with an in-depth TOC on the Global Advanced Glass Market Forecast 2019-2028."
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Advanced glass is increasingly becoming prominent in countries like China, India, and Brazil due to the growing demand for better aesthetics in non-residential & residential buildings and rising industrialization. Their unique properties and features make them best suited to many applications.
Advancing Construction Industry influences the Global Market Growth
Infrastructure is an inevitable part of nation-building. It entails structures such as airports, commercial houses, residential houses, etc. Emerging economies like China, the Middle East, and India, are witnessing full-fledged construction activities, which further increases the demand for advanced glasses. The thriving residential housing sector, as a result of the rising population, is set to stimulate residential construction activities. Moreover, the construction sector is booming with heavy investments, which is another driver of the demand for advanced glass. North America has put forth the proposition of $8.8 Billion investment in O'Hare airport at Chicago, Illinois.
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Coated Glass is the Leading Product Type
Coated glass is a type of glass coated with an outer layer or film. The coating is that of mineral, so as to give it a very smooth surface. They regulate the exposure of the glass surface to vapors that bind the glass to form a permanent coating. The properties of coated glass include transmission, absorption, and reflection. It is an instrumental part of glass manufacturing.
It is conventionally used in commercial glazing due to its enhanced performance in solar control over transparent or tinted glass products. It reflects excessive IR and UV radiation, which makes it optimal for automotive applications where heat reduction of heat loads becomes important. It has several applications in the building and manufacturing industries, with regard to partitions, windows, and facades. Major players in terms of coated glass, such as AGC Inc, Vitro, and Nippon Sheet Glass Co Ltd, have considerable hold in the European and North American markets.
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North America dominated the global market in 2019
The North America advanced glass market is benefited from rapid urbanization & industrialization, along with policy legislation on energy-efficient and smart glass technologies. The latter is because advanced construction practices can have a positive impact on product demand. There is also a raised awareness and concern among the masses about energy conservation. Also, many prominent companies are present in the region. Such factors enhance the growth prospects of the region.
Market competitors are adapting to evolving technology and patterns. The major players in the market are offering products through several pricing strategies. At the same time, the high aggressiveness of firms results in a strong force, which impacts the industry environment. Some of the eminent companies if the market includes, Huihua Glass Co Ltd, Asahi Glass Co, Corning Inc, Fuyao Glass Industry Group Co Ltd, Advanced Glass & Mirror Inc, etc.
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