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Building and Construction Glass Market Report 2024 - Building and Construction Glass Market Size, Trends, And Opportunities
Building and Construction Glass Market
According to The Business Research Company's, The building and construction glass market size has grown strongly in recent years. It will grow from $105.07 billion in 2023 to $114.75 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to urbanization and population growth, architectural trends, energy efficiency concerns, economic conditions, globalization and trade.
The building and construction glass market size is expected to see strong growth in the next few years. It will grow to $156.83 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to sustainable building practices, population density and urban development, stringent energy efficiency regulations, infrastructure development projects, global economic trends. Major trends in the forecast period include innovations in glass technology, smart building technologies, rising popularity of specialty glass, sustainable and recyclable materials, bim (building information modeling) integration.
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Market Drivers and Trends:
The development of green buildings is significantly contributing to the growth of the building and 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. Building and 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 development of green buildings will drive the building and construction glass market.
Product innovations are a key trend gaining popularity in the building and construction glass market. Major companies operating in the building and construction glass market are focused on developing new technological solutions to strengthen their position. For instance, in February 2021, Vitro Architectural Glass, a Mexico-based glass manufacturing company, launched Solarban R77 a new low-emissivity (low-e) glass technology that provides both solar control and a pleasing silver-blue aesthetic. The glass has a magnetron-sputtered vacuum deposition coating and provides a solar heat gain coefficient of 0.25 and visible light transmittance of 47% in a clear 1-inch insulating glass unit. This product is designed to offer a pleasing appearance while satisfying increasingly strict building code mandates.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
AGC Inc.; Central Glass Co. Ltd.; Guardian Industries; Nippon Sheet Glass Co. Ltd.; PPG Industries Inc.; Compagnie de Saint-Gobain S.A.; Schott AG ; China Glass Holdings Ltd.; Xinyl Gas Holdings Limited; Dellner Glass Solutions; Fuyaogroup.com; Guangzhou Topo Glass Co. Ltd.; arcon Flach- und Sicherheitsglas GmbH and Co. KG; Beijing Northglass Technologies Co. Ltd.; Cardinal Glass Industries Inc.; Asahi India Glass Limited; Şişecam; Euroglas GmbH; GSC Glass Private Limited; HNG Float Glass Limited; Jinjing Group Co. Ltd.; KIBING Group; Luoyang Glass Company Limited; Shanghai Yaohua Pilkington Glass Group Co. Ltd.; Taiwan Glass Industry Corporation; Vitro, S.A.B. de C.V.; China Yaohua Glass Group Co. Ltd.; Fuso Glass India Pvt. Ltd.; Glaston Corporation; Oldcastle BuildingEnvelope; Sangalli Group
Building and Construction Glass Market 2024 Key Insights:
• The building and construction glass market will grow to $156.83 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%.
• Building And Construction Glass Market Thrives On The Growth Of Green Buildings
• Elevating Building Efficiency With Product Innovations
• Asia-Pacific was the largest region in the building and construction glass market in 2023
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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