Newark, July 29, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the global construction glass market will grow from USD 103.35 Billion in 2023 to USD 205.22 Billion by 2033. Architects and designers have many aesthetic possibilities while using construction glass, allowing them to achieve various visual effects. Construction glass can be utilized for various purposes, such as creating contemporary facades that exude sophistication or intricate decorative elements that enhance interior spaces. In today's world, where environmental impact plays a crucial role in selecting materials used in construction projects- modern production processes attempt to minimize energy consumption and emissions without compromising quality standards. The recyclability factor of construction glass makes it sustainable and environmentally friendly.
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Report Coverage Details
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Base Year | 2023 |
| Market Size in 2023 | USD 103.35 Billion |
| Market Size in 2033 | USD 205.22 billion |
| CAGR | 7.1% |
| No. of Pages in Report | 238 |
| Segments Covered | Composite, Manufacturing Process and Regions |
| Drivers | Growing Disposable Income and Living Standards |
| Opportunities | Technological Integration in Smart Buildings |
| Restraints | Fluctuating Raw Material Prices |
Key Insight of the Construction Glass Market
North America region is expected to grow at the highest CAGR during the forecast period.
During the forecast period, North America is expected to grow at the highest CAGR within the global construction glass market. The North America region will significantly expand. The U.S. residential construction industry holds significant sway over the market, spurred by a surge in demand resulting from population growth and shifting demographics. Glass applications such as windows, doors, and facades are utilized extensively to meet this rising need. Furthermore, Canada's investment in commercial projects like healthcare facilities, office buildings, and retail spaces is driving the expansion of advanced glass products within its construction sector. In North America specifically- due to leading manufacturers' growing research & development processes -technological advancements have enhanced functionality while simultaneously elevating aesthetics for building materials made with construction glass. These innovations include innovative properties, which provide the tangible market distinction that continues contributing towards the overall expansion of the regional construction glass market.
The low-E glass segment is expected to grow at the highest CAGR during the forecast period.
The type segment includes special glass, and low-E glass. The low-E glass segment is expected to grow at the highest CAGR during the forecast period. Low-E glass is critical in constructing energy-efficient building enclosures, promoting the thermal performance and sustainability of institutional, residential, and commercial structures. It cuts down on heat transfer via windows and glazed exteriors, lessening temperature fluctuations while concurrently diminishing HVAC power usage to offer optimal comfort for occupants. Low-E window glasses coupled with insulated glazing units (IGUs) regulate the temperature levels, cut back on utility expenses, and reduce carbon emissions—therefore meeting green construction codes matching longstanding sustainable goals.
The rolled/sheet process segment is expected to grow at the highest CAGR during the forecast period.
The manufacturing process segment includes flat process and rolled/sheet process. The rolled/sheet process segment is expected to grow at the highest CAGR during the forecast period. The major use of the rolled/sheet glass manufacturing process is the production of thin glass sheets for niche applications. These encompass patterned, wired, textured, and other specialty glasses that offer individualistic visual effects and aesthetic results. The significance of aesthetics in artistic installations, interior design, and decorative settings makes it a common choice for such purposes.
The residential segment is expected to grow at the highest CAGR during the forecast period.
The application segment includes residential and non-residential. The residential segment is expected to grow at the highest CAGR during the forecast period. The growing urbanization and rapid population expansion stimulate the demand for housing developments, particularly in emerging economies such as Asia, Africa, and Latin America. Thus, there has been an unprecedented upsurge of individuals relocating to cities due to better job prospects, leading developers to emphasize sustainability through energy-efficient materials' use that tends towards a reduction in consumption rates, hence lowering environmental impact trends shaping trends and developments of the construction glass industry.
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Recent Developments:
• In November 2022: According to Walker Glass, the new Environmental Product Declarations (EPDs), third-party certified for acid-etched glass, acid-etched mirror, and unetched mirror, are now available. This initiative proves their commitment to using ecologically friendly methods in the construction glass industry.
Market Dynamics
Driver: Rapid Urbanization across Emerging Nations
Robust economic growth and rapid urbanization in various parts of the world are key factors driving the construction glass market. The population influx from rural areas to cities, primarily in Asia, Africa, and Latin America, has resulted in significant urban expansion across developing countries. This requires extensive infrastructure development, such as commercial, residential, and industrial construction, which sours the demand for construction glass.
Restraint: Availability of Substitute Products
Numerous alternative building materials pose a competitive challenge to construction glass. These substitutes, such as polycarbonate, acrylic, and other polymers, offer similar or supplementary advantages at potentially reduced costs. Owing to their lightweight nature, impact-resistant quality, and budget-friendly in some instances, they make appealing alternatives over construction glass for various applications where safety and resistance hold substantial importance.
Opportunity: Growing Renovation and Retrofitting Activities
The stable growth in the refurbishment and retrofitting of preexisting structures to enhance their energy efficiency, safety measures, and visual charm has resulted in an increased requirement for construction glass. The prevalence of old buildings across developed regions is boosting property owners to update their glazing setups. Such endeavours involve replacing antiquated windows or facades with eco-friendly glass alternatives that improve thermal output while reducing overall power consumption.
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Some of the major players operating in the Construction Glass Market are:
• AGC Inc.
• SCHOTT AG
• Central Glass Co. Ltd.
• China Glass Holdings Ltd.
• Turkiye Sise ve Cam Fabrikalari AS
• Vitro SAB de CV
• Koch Industries Inc.
• Nippon Sheet Glass Co. Ltd.
• Xinyi Glass Holdings Ltd.
• Compagnie de Saint-Gobain SA
Key Segments Cover in the Market:
By Type:
• Low-E Glass
• Special Glass
By Manufacturing Process:
• Flat Process
• Rolled/Sheet Process
By Application:
• Residential
• Non-residential
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channel analysis.
About The Brainy Insights:
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