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Construction Glass Market Size, Share, Trend Analysis, Segmentation And Forecast To 2033
Construction Glass Market
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According to The Business Research Company's, The construction glass market size has grown strongly in recent years. It will grow from $113.58 billion in 2023 to $123.19 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to urbanization and infrastructure development, energy efficiency regulations, population growth and housing demand, government initiatives for green buildings, safety and security requirements, global economic trends, increased renovation and retrofit activities.
The construction glass market size is expected to see strong growth in the next few years. It will grow to $166.87 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to continued emphasis on sustainable construction, focus on circular economy principles, demand for antibacterial glass solutions, rise of prefabricated construction methods, smart cities and infrastructure development, emergence of carbon-neutral construction materials, demand for fire-resistant glass solutions. Major trends in the forecast period include green building and sustainability, smart glass technology, innovations in coatings, increased use of laminated glass, supply chain challenges, architectural trends.
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Market Drivers and Trends:
The growth in development of green buildings is expected to propel the growth of the construction glass market going forward. Green building involves designing, constructing, and operating buildings in an environmentally responsible and resource-efficient manner, with a focus on using sustainable materials and resources, reducing energy and water usage, improving indoor air quality, and minimizing waste and pollution. Construction glass plays a significant role in green buildings by providing energy-efficient solutions that help reduce energy consumption and costs. For instance, in October 2022, according to an article published by the US Green Building Council (USGBC), a US-based non-profit organization that promotes sustainability in building design, construction, and operation, between 2017 and 2021, over 36,835 projects totaling 4.63 billion gross square feet received LEED certification. Over 5,000 new projects were certified in the first three quarters of 2022. The United States and Canada have the highest concentration of LEED-certified projects (74%), followed by East Asia (9%), and Europe (6%). Therefore, the growth in development of green buildings is driving the construction glass market during forecast period.
Technological advancements are a key trend gaining popularity in the construction glass market. Major players operating in the market are developing products with advanced technologies to sustain their position in the construction glass market, such as NSG Purity. For instance, in June 2021, Nippon Sheet Glass Co. Ltd., a Japan-based glass manufacturing company, launched NSG Purity. This product represents the development of new technology and the introduction of newly developed antibacterial and antiviral-coated glass in response to rising interest in antiviral materials in the context of the worldwide pandemic. The new antibacterial and antiviral coated glass, NSG Purity, is based on the Group's exclusive sol-gel technology.
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Major Key Players of the Market:
AGC Inc., Guardian Industries, Nippon Sheet Glass Co. Ltd., AJJ Glass Ltd., CSG Holding Co. Ltd., Fuyao Glass Industry Group Co. Ltd., GreyGlass Ltd., GSC Glass Ltd., Luoyang Glass Company Limited, Nippon Electric Glass Co. Ltd., NSG Group Ltd., Pilkington, PPG Industries Inc., Schott AG, Vitro Architectural Glass, Vitrum Industries Ltd., Xinyi Glass Holdings Ltd., Corning Incorporated, Owens Corning, SYP Glass Group Co. Ltd., S.A. Bendheim Ltd., Central Glass Co. Ltd., Saint-Gobain SA, JE Berkowitz LP, Architectural Glass North America, Advanced Energy Industries Inc., Cardinal Glass Industries Inc., Oldcastle BuildingEnvelope, Euroglas GmbH, Pilkington Group Limited
Construction Glass Market 2024 Key Insights:
• The construction glass market size is expected to see strong growth in the next few years. It will grow to $166.87 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%.
• Increase In The Building Construction Industry
• Introduction Of Construction Glass Products With Advanced Technologies
• Asia Pacific was the largest region in the construction glass market in 2023 and is expected to be the fastest-growing region in the forecast period
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