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Energy Efficient Glass Global Market Overview, Driving Factors, Future Trends, Key Players and Growth Opportunities And Forecast By 2033
Energy Efficient Glass Global Market
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According to The Business Research Company's, The energy efficient glass market size has grown steadily in recent years. It will grow from $29.36 billion in 2023 to $30.82 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to energy conservation awareness, environmental regulations, rising energy costs, government incentives and policies, consumer demand for comfort.
The energy efficient glass market size is expected to see steady growth in the next few years. It will grow to $36.4 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The growth in the forecast period can be attributed to rise in green building construction, demand for zero-energy buildings, stringent energy efficiency regulations, urbanization and construction boom, innovation in smart glass. Major trends in the forecast period include advancements in glass coating technology, dynamic glazing solutions, vacuum insulated glass, sustainable and recycled glass, nanotechnology in glass coatings.
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Market Drivers and Trends:
The rapid expansion of building and construction-related activities is expected to propel the growth of the energy-efficient glass market going forward. Construction activities refer to any proposed or ongoing installation, repair, maintenance, or similar action on the land, including the movement of vehicles and cranes, the transport of building supplies, and the anchoring or shoring of rocks. Energy-efficient glass protects the interiors of buildings from harmful ultraviolet (UV) and infrared (IR) rays and provides enhanced thermal comfort in all types of weather conditions. For instance, in June 2023, according to the United States Census Bureau, a US-based primary agency of the Federal Statistics System, construction spending reached $566.7 billion in the initial four months of 2023, an increase of 6.1 % compared to $533.9 billion in the same period of 2022. Therefore, the rapid expansion of building and construction-related activities is driving the energy-efficient glass market.
Product innovations are the key trend gaining popularity in the energy-efficient glass market. Major players in the energy-efficient glass market are concentrating on creating innovative technology to boost their market share. For instance, in June 2023, YES WORLD Climate Tech Pte Ltd., a Singapore-based blockchain-based climate tech company, launched an energy-efficient window solution for homes and businesses. This new range of specialty glass, which consists of sandwich glass and double pane glass, contains a layer made of a proprietary substance that reflects all solar radiation heat. The energy-efficient glass serves as a see-through window option that prevents 85% of the heat from the sun from penetrating the building and decreases the use of energy in terms of HVAC load. The glass functions as a passive ultraviolet (UV) collector, gathering sunlight and distributing thermal energy into the building, as well as successfully controlling reflection, emission, absorption, radiant heat gain, solar heat gain, and secrecy.
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Major Key Players of the Market:
Saint-Gobain SA, PPG Industries Inc., AGC Inc., Corning Incorporated, DuPont de Nemours Inc, Nippon Sheet Glass Co. Ltd, Şişecam, Guardian Industries Holdings, Cardinal Glass Industries Inc., Andersen Corporation, Schott AG, CSG Holding Co. Ltd., Atrium Windows and Doors Inc., Associated Materials Inc., Asahi India Glass Ltd (AIS), Metro Performance Glass, Champion Window Mfg. & Supply Co. LLC, International Window Corporation, YKK AP America Inc., ViWinTech Windows & Doors Inc., Okna Windows, Vitro Architectural Glass, Croft LLC, Abrisa Technologies., NT Window Inc, Inline Fiberglass Ltd, Morley Glass & Glazing Ltd., Smartglass International Ltd., RavenWindow, Capitol Glass Company Inc.
Energy Efficient Glass Market 2024 Key Insights:
• The energy efficient glass market size is expected to see steady growth in the next few years. It will grow to $36.4 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%.
• Building Boom Drives Surge In Energy-Efficient Glass Market
• Innovative Energy-Efficient Glass Is A Breakthrough In Sustainable Climate Technology
• North America was the largest region in the energy-efficient glass market in 2023
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