Portland, OR, Oct. 14, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global solar reflective glass market generated $5.3 billion in 2021, and is projected to reach $10.6 billion by 2031, growing at a CAGR of 7.3% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $5.3 billion |
| Market Size in 2031 | $10.6 billion |
| CAGR | 7.3% |
| No. of Pages in Report | 322 |
| Segments Covered | Type, coating method, and region |
| Drivers | Surge in demand for decoration and renovation of house and commercial spaces |
| Increase in the adoption of cars among people | |
| Opportunities | Extensive applications of solar reflective glass in the automotive industry to reduce the amount of heat entering in a car |
| Growth in the popularity of solar energy in various countries | |
| Restrains | Extortionate cost of solar reflective glasses |
COVID-19 Scenario:
- The outbreak of COVID-19 has had a negative impact on the growth of the global solar reflective glass market, owing to the occurrence of lockdowns in various countries across the globe.
- Lockdowns resulted in the closure of various manufacturing facilities, including those of solar reflective glasses, which adversely impacted the growth of the market.
- In addition, all sorts of construction and renovation activities were halted due to the presence of strict social distancing restrictions imposed by the government.
- These restrictions were imposed by the government to significantly curb the spread of the virus during the pandemic.
- However, the market is expected to recoup soon.
The report offers detailed segmentation of the global solar reflective glass market based on type, coating method, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
Based on type, the reflective segment held the largest market share in 2021, holding three-fourths of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 7.6% during the forecast period. The report also analyses the other segment of the market such as the absorptive segment.
Based on coating method, the hard coating method held the dominating market share in 2021, holding nearly three-fourths of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 7.5% during the forecast period. The report also analyses the other segment of the market such as the soft coated segment.
Based on application, the commercial segment held the largest market share in 2021, holding nearly three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 7.7% during the forecast period. The report also analyses the other segments of the market such as the automotive and residential.
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Based on region, the market across Asia-Pacific region held the dominating market share in 2021, holding more than two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same region is expected to cite the fastest CAGR of 7.8% during the forecast period. The report also analyses other regions of the market such as Europe, North America, and LAMEA.
The key players analyzed in the global solar reflective glass market report include Heliotrope Technologies, Inc., Guardian Industries, PPG Industries, Asahi India Glass Limited, RavenBrick LLC, e-Chromic Technologies, Compagnie de Saint-Gobain S.A., Gentex Corporation, Polytron, Shandong Xinyi Auto Parts Manufacturing Co., Ltd., Chromogenics AB, Central Glass Co., Ltd., Corning Inc., Euroglas GmbH, and Gentex Corporation.
The report analyzes these key players in the global solar reflective glass market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
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