Increase in demand from construction and automotive industries globally are the major factors influencing market growth.
Market Size – USD 5.30 billion in 2018, Market Growth - CAGR of 4.8%, Market Trends –Rise in number of commercial buildings
NEW YORK, April 24, 2019 (GLOBE NEWSWIRE) -- The Solar Control Glass Market is expected to reach USD 10.59 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with increasing demand from construction & building industries globally. Based on statistics, increased demand from automotive industry is expected to become the most common growth interest globally in the coming years.
Solar control glass is a type of glass with special coatings that reduce the amount of heat entering into buildings and reflects a significant portion of sunlight, thereby making the indoor space fresher and brighter. The increasing use of glass in modern buildings and the growing awareness of people's comfort have resulted in the more effective use of solar control glass in the buildings and automotive market. It allows a minimum sunlight to pass through and reflects a high amount of solar heat thereby making it more favorable for green building applications. The growing trend of green buildings constructions with high energy efficiency and reduced CO2 emissions is expected to drive the market demand for solar control glass over the forecast period.
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Key participants include NSG, AGC Glass, Saint-Gobain, PPG Glass Industries, Guardian Glass, Sisecam Flat Glass, Euroglas GmbH, AIG, SYP Glass, XINYI
APAC accounts for the largest market share of 35.31% in 2018. The emerging economies in developed countries like India and China are one of the significant reasons for the growth of the market in APAC. The favorable government policies in Japan and China are expected to encourage demand for this market. The increasing usage in the automotive industry resulting in reduced air conditioning costs is expected to impact the demand for solar control glass positively over the forecast period.
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Further key findings from the report suggest
- Solar control glass is a hi-tech product manufactured by the glass industry to allow the needed amount of sunlight to pass through a window or façade while radiating and reflecting away a significant degree of the sun's heat. The indoor space stays bright and much more refreshing than would be the case if the ordinary glass were used.
- The global Solar Control Glass Market is growing at the rapid speed owing to the enhanced demand from automotive and construction industry.
- Reflective glass is mostly ordinary float glass with a metallic coating that reduces solar heat. This special metallic coating also provides a one-way mirror effect thus, preventing visibility from the outside and maintaining privacy, reflective glass is used primarily for structural façade glazing.
- The reflective sector of the product segment accounts for the largest market share of 55.19% in 2018. This is due to the rising demand from the automotive and construction industries globally.
- Commercial Buildings accounts for the largest market share of 39.30% in 2018. The growth in this segment is due to the increase in the number of commercial buildings and growing concerns about costs for high air conditioning.
- Automotive sector is anticipated to be the fastest growing application segment growing at a CAGR of 8.6% during the forecast period. The rising demand of this segment is due to the vehicle design developed by major car manufacturers such as Mercedes and Ford-Chrysler USA LLC, which is expected to further propel the market growth.
- Among the thickness segment, 3-5mm is expected to grow a higher rate of 8.6% during the forecast period. 4 mm glass thickness gives the best efficiency when compared to other glass thickness. However, the use of a glass of 4 mm thick needs precautions in handling to avoid extra costs due to breakage.
- The consumption of the product in residential buildings is observed majorly in Europe and North America. The market for this product is assumed to increase steadily in the APAC and MEA due to the upcoming residential building construction projects in these regions.
- The residential buildings sector is the second largest application with a market share of 33.80% in 2018 of the global market.
- Due to adoption and increased usage in applications such as residential buildings and commercial buildings, Europe is forecasted to grow with the highest rate of 8.8%. The growth in North America is due to the concrete construction and automotive industry opportunity in this region.
- Other regions such as North America is estimated to reach USD 2.41 billion by 2026. Due to the significant increase in automotive and construction industry.
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Segments covered in the report:
This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2019 to 2026. For the purpose of this study, Reports and Data have segmented the Solar Control Glass Market on the basis of Product, Thickness, application and region:
Product (Revenue, USD Million; 2016-2026)
- Absorbing Solar Control Glass
- Reflective Solar Control Glass
Thickness Outlook (Revenue, USD Million; 2016-2026)
- <3mm
- 3-5mm
- >5mm
Application Outlook (Revenue, USD Million; 2016-2026)
- Commercial Buildings
- Residential Buildings
- Automotive
Regional Outlook (Revenue, USD Million; 2016-2026)
- North America
- U.S.
- Europe
- Germany
- UK
- Asia Pacific
- China
- India
- Latin America
- Brazil
- Middle East & Africa
Browse more reports of Solar Control Glass category at: https://www.reportsanddata.com/report/category/ceramics-and-glass
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