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Coated Glass Market: Size, Share, Growth Insights, and Forecast Report 2033
Coated Glass Global Market Report 2024
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According to The Business Research Company's, The coated glass market size has grown strongly in recent years. It will grow from $31.8 billion in 2023 to $34.8 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to architectural advancements, automotive industry growth, energy efficiency requirements, consumer demand for uv protection, increased focus on safety.
The coated glass market size is expected to see strong growth in the next few years. It will grow to $48.51 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to rise in consumer awareness, smart glass innovations, green building trends, electronics and display market, advancements in nanotechnology. Major trends in the forecast period include augmented reality (ar) application, integration with iot device, thin-film coating technologies, dynamic light control, anti-reflective coatings.
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Market Drivers and Trends:
The rising number of construction activities is expected to propel the growth of the coated glass market going forward. Construction activities refer to the process of determining the stages necessary to create a structure as well as the activities associated with the application of innovative techniques, materials, and technologies in the construction of buildings, infrastructure, and other structures. Coated glass is used in construction activities to deliver long-lasting durability, scratch resistance, and water, dirt, ice, and snow repellence. They also have UV protection, resistance to corrosion, and self-cleaning qualities. For instance, in December 2021, according to the U.S. Census Bureau, the federal government's largest statistical agency, in the US, an estimated 1,595,100 housing units were started in 2021, or a 15.6% increase from the 2020 figure of 1,379,600 in 2020. Further, construction spending increased from $1,768.2 billion in March 2022 to $1,834.7 billion in March 2023, a 3.8 percent increase in construction spending. Therefore, the rise in construction activities is driving the growth of the coated glass market.
Product innovation is the key trend gaining popularity in the coated glass market. Companies operating in the coated glass market are adopting new technologies to sustain their position in the market. For instance, in March 2022, Guardian Industries, a US-based manufacturer of glass, float glass, fabricated glass products, fiberglass insulation, and building materials for commercial, residential, and automotive applications, launched two new products called SunGuard SNR 35 and SunGuard SNR 50 coated glass. SunGuard SNR 50 and SunGuard SNR 35 coated glass both offer exceptional low solar heat gain, a neutral silver look, and superb neutral reflection, giving architects alternatives to employ singly or in combination to establish a specific style and bring their plans to life. With a 48% visible light transmission and a solar heat gain coefficient of 02.5, SNR 50 provides a balance of medium reflectivity and neutral aesthetic; SNR 35 has a clean, shiny appearance and a lower solar heat gain coefficient of 0.17 for an even greater energy savings. SNR 50 and SNR 35 can be combined with a wide range of substrates, including UltraClear low-iron glass, for a more neutral appearance. All substrates are available in thicknesses of 6mm, 8mm, and 10mm. Architects can also select clear float glass in thicknesses ranging from 6mm to 12mm.
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.
Major Key Players of the Market:
AGC Inc., Central Glass Co Ltd., Cardinal Glass Industries Inc., China Glass Holdings Limited, Euroglas GmbH, Fuyao Glass Industry Group Co Ltd., Guardian Industries Corporation, Saint-Gobain SA, Schott AG, Sisecam Group, Taiwan Glass Group, Vitro Architectural Glass, Xinyi Glass Holdings Co Ltd., Interfloat Corporation, PPG Industries Ltd., Arkema SA, Nippon Sheet Glass Co Ltd., Vitro Architectural Glass, CSG Holding Co. Ltd., Corning Inc., North Glass Technology Co Ltd., Gold Plus Glass Industry Limited, Asahi India Glass Ltd, Borosil Glass Work Ltd., Safelite AutoGlass, Specialty Glass Products Inc., Ellsworth Adhesives, Hecker Glastechnik GmbH, Shanghai North Glass Technology Industrial Co Ltd., Aremco Products Inc.
Coated Glass Market 2024 Key Insights:
• The coated glass market size is expected to see strong growth in the next few years. It will grow to $48.51 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%.
• Coated Glass Market Driven By Surge In Construction Activities
• Coated Glass Market Driven By Emphasis On Product Innovation
• Asia-Pacific was the largest region in the coated glass market in 2023
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