The Construction Glass Market Is Expected to Reach Nearly US$ 90 Bn by 2031

Fact.MR's report predicts that the global construction glass market will surpass market revenue of US$ 90 Bn by registering a CAGR of 7% in the assessment period 2021-2031. Increasing urbanization has led to the rapid construction of buildings in major cities. This, in turn, has escalated the sales of construction glass. For the last five years, between 2016-2020, the construction glass industry garnered a market value of US$ 46 Bn by the end of the aforementioned period. Owing to the COVID-19 pandemic, the construction industry suffered a major setback due to restrictions on movement. As the impositions on movement are being lifted, the construction glass industry is expected to regain sales.
Companies are largely focusing on environmentally- friendly construction glass. In addition, the demand from the residential and commercial sector is boosting the sales of construction glass. Furthermore, construction stakeholders are vying to achieve energy efficiency with regards to electricity consumption, encouraging the usage of glass which can absorb sunlight, reducing the load on lighting systems across key countries.

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Key Takeaways from the Market Study

• Float glass expected to hold highest share, expanding at over 4% CAGR
• Demand for special glass to surge substantially, accounting for a market share worth 40%
• Europe to generate around 30% of market revenue for construction glass industry.
• Construction glass industry is expected to register a CAGR around 5% throughout Europe
• China, India and Germany are the top three countries driving demand for construction glass.
• Asia Pacific is the most lucrative region and will generate over 40% revenue until 2031

"Increasing demand for construction glass that influxes daylight and does not get affected by weather is upsurging the sales of construction glass." says a Fact.Mr analyst.

Key Segments

Type
• Low-e Glass
• Special Glass

Chemical Composition
• Soda-Lime
• Potash-Lime
• Potash-Lead

Manufacturing Process
• Float Process
• Rolled/Sheet Process

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Competitive Landscape

Prominent manufacturers of construction glass are emphasizing on offering high quality eco-friendly glass material, besides undertaking such initiatives as collaborations, mergers & acquisitions and partnerships. Major manufacturers include China Glass Holdings, Saint Gobain, PPG Industries, Corning International, AGC Co, Kyocera Corporation, Nippon Sheet Glass Co., Ltd., Fuyao Glass Industry Group, Guardian Industries and Vitro Glass among others.
Bendheim has launched a virtual design consultation lab. The company is focusing on customization and effectiveness for product development that would save tremendous amount of time and energy.
In August 2021, AGC Co and JAMSTEC have developed numerical method that predicts fracture patterns in chemical strengthened glass.

Key Market Players:
• China Glass Holdings
• Saint Gobain
• PPG Industries
• Corning International
• AGC Co
• Kyocera Co
• Nippon Sheet Glass Co., Ltd.
• Fuyao Glass Industry Group
• Guardian Industries
• Vitro Glass

What are the Key Trends in the Construction Glass Market?

With rapid urbanization and changing consumer behaviour glass preference is changing. Consumers are preferring glasses that engulf different properties and are aesthetically pleasing. Additionally, eco-conscious consumers are opting for glasses that has undergone sustainable manufacturing processes.
For instance, consumers are opting for glasses which are energy efficient, increases the influx of natural light at the same time helps in reducing energy consumption with the help of advanced glazing solution. Moreover, products such as self-cleaning glass, insulated glazing glass, sound reducing glass and solar control glass are key trends giving an additional push to the industry.

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Key Points Covered in Construction Glass Market Industry Analysis

• Market estimates and forecast 2016-2031
• Key drivers and restraints impacting market growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Market Share Analysis
• Key Product Innovations and Regulatory Climate
• COVID-19 Impact on Construction Glass Market and How to Navigate
• Recommendation on Key Winning Strategies

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This release was published on openPR.