Global Construction Glass Market to Reach New Heights by 2033: Comprehensive Size and Share Analysis
The global construction glass market is predicted to be valued at $52.7 billion in 2023, growing at a 7.0% CAGR to $103.6 billion by the end of 2033.
The growing demand for energy-efficient and sustainable buildings is driving up
the adoption of high-performance construction glass with low-E coatings and
other energy-efficient features, generating enormous potential opportunities
for construction glass market players.
Construction
glass products such as low-e glass and electrochromic glass help to reduce
energy consumption and improve indoor comfort while also providing a clear view
of the outside environment. As smart cities continue to develop coupled with
favorable government initiatives, the demand for construction glass is likely
to increase as more buildings are constructed to meet energy efficiency and
sustainability standards.
Other
considerations include government rules and standards to encourage the use of
sustainable construction materials and reduce carbon emissions, as well as an
increased need for building safety and security. Tempered glass, laminated
glass, and bullet-resistant glass are increasingly utilised to safeguard
business and residential structures from break-ins and natural calamities.
Key Takeaways from Market Study:
- The
global construction glass market is projected to grow and reach a
valuation of US$ 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.
Market Growth Stratagems:
Product innovation, strategic
collaborations, and expansion into new areas are among the primary growth
tactics used by building glass industry participants.
Companies are increasing their global presence by entering new areas, either
organically or through acquisitions, in order to capitalise on rising demand in
emerging economies. Furthermore, corporations are spending in R&D to create
new and innovative products that match the changing market expectations.
In January 2022, Vitro Architectural Glass, a top maker of high-performance
glass, introduced the Vitro Solarban R77 low-e glass. This product offers
improved 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.
Old
Source: https://www.globenewswire.com/news-release/2023/04/26/2654759/0/en/Construction-Glass-Demand-is-Rising-at-a-CAGR-of-7-0-to-Top-US-103-6-Billion-by-2033-Fact-MR-Research.html
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