Rockville, April 26, 2023 (GLOBE NEWSWIRE) -- The growing smart city initiatives are driving the demand for construction glass as it plays a vital role in creating energy-efficient buildings that incorporate smart technologies. The global construction glass market is estimated to reach a valuation of US$ 52.7 billion in 2023 and is expected to grow at a CAGR of 7.0% during the forecast period of 2023–2033.
Construction glass products such as low-e glass and electrochromic glass help to reduce energy consumption and improve indoor comfort while also providing a clear view of the outside environment. As smart cities continue to develop coupled with favorable government initiatives, the demand for construction glass is likely to increase as more buildings are constructed to meet energy efficiency and sustainability standards.
Other factors include government regulations and standards to promote the use of sustainable building materials and reduce carbon emissions and the growing demand for safety and security in buildings. Construction glass such as tempered glass, laminated glass, and bullet-resistant glass is increasingly used in commercial and residential buildings to provide protection against break-ins and natural disasters.
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Key Takeaways from Market Study
- The global construction glass market is projected to grow and reach a valuation of US$ 103.6 billion by 2033
- The market is estimated to create an opportunity of US$ 54.4 billion growing at a CAGR of 7.0% between 2023 to 2033
- Predominating market players include AGC Co, Saint Gobain, Fuyao Glass Industry Group, Guardian Industries, and Vitro Glass
- Europe is a prominent region that is estimated to hold a market share of 29.8% in 2023
- By manufacturing process, the float process accounts for the prominent share of the market
“Surging Demand for Energy-efficient Buildings is Likely to Drive Construction Glass Market During the Assessment Period” says a Fact.MR analyst.
Segmentation of Construction Glass Industry Research
- By Type:
- Low e Glass
- Special Glass
- By Chemical Composition:
- Soda-Lime
- Potash-Lime
- Potash-Lead
- By Manufacturing Process:
- Float Process
- Rolled/Sheet Process
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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Market Growth Stratagems
The key growth strategies adopted by market players operating in the construction glass market include product innovation, strategic partnerships, and expansion into new markets.
Companies are expanding their geographic presence by entering new markets, either through organic growth, in order to capitalize on growing demand in emerging economies. In addition, companies are investing in research and development to develop new and innovative products that meet the changing demands of the market.
For instance,
- in January 2022, Vitro Architectural Glass, one of the leading manufacturers of high-performance glass products, launched its new Vitro Solarban R77 low-e glass product, which provides superior energy performance and solar control.
- In December 2021, Guardian Glass, a major producer of flat glass and other high-performance materials, unveiled a new Guardian ClimaGuard SLE product, which provides superior thermal insulation and energy efficiency.
- In November 2021, Saint-Gobain, a French multinational corporation that specializes in construction materials, launched a new SageGlass Harmony product, which provides dynamic shading.
- In September 2021, AGC Inc., a global leader in glass and other high-performance materials, launched a solar control glass product, Stopray Ultra-70T.
- In March 2021, NSG Group, a leading manufacturer of glass and glazing products, launched a new ultra-clear, low-iron glass product called Pilkington Optiwhite OW.
Key Companies Profiled
- China Glass Holdings
- Saint Gobain
- Corning International
- AGC Co
- Guardian Industries
- Vitro Glass
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the construction glass market, presenting historical market data (2018–2022) and forecast statistics for the period of 2023–2033.
The study reveals essential insights on the basis of type (low e glass and special glass), chemical composition (soda-lime, potash-lime, and potash-lead), manufacturing process (float process and rolled/sheet process), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia, and Oceania, Middle East & Africa).
Key Questions Covered in the Construction Glass Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Construction Glass sales grow until 2033?
- Which are the factors hampering the Construction Glass demand?
- Which region will spearhead the growth in the global industry during 2023-2033?
- Which are the factors driving sales in the Construction Glass Market during the forecast period?
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