At 6.15% CAGR , Global Construction Glass Market Is Expected to reach USD 66.83 billion in 2026, says Brandessence Market Research
PUNE, India, Jan. 6, 2021 /PRNewswire/ -- The global demand for construction glass market, in terms of revenue, was worth of USD 45.04 billion in 2019 and is expected to reach USD 66.83 billion in 2026, growing at a CAGR of 6.15% from 2020 to 2026. The global construction glass market is expected to grow at significant growth rate due to number of driving factor.
Construction glass is one of the most widely used construction materials owing to its broad spectrum of properties. Construction glass is typically translucent glazing material used for external walls and windows. It offers numerous physical and chemical properties. For instance; it is electric resistant, chemical resistant and flexible in molding and remains unaffected to changes in climatic conditions. It is most typically used as transparent glazing material in the building envelope, including windows in the external walls. Glass is also used for internal partitions and as an architectural feature. When used in buildings, glass is often of a safety type, which includes reinforced, toughened, and laminated glasses.
The study provides a crucial view of global construction glass market by segmenting the market based on type, application and region. On the basis of type, global construction glass market is segmented as Low-E glass, special glass and others. On the basis of application, global construction glass market is segmented as residential, commercial and others. The regions covered in global construction glass market are North America, Europe, Asia-pacific and rest of the world. on the basis of country level, global construction glass market sub-divided into U.S., Canada, U.K., France, Germany, Italy, china, japan, India, south east Asia, brazil, Mexico, GCC, Africa, etc.
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The growth of the global construction glass market is driven by several factors such as increasing growth of construction industry, advancement in the glass industry and rising need for energy efficient temperature management. The construction industry in the arid zones is one of the main investment sectors, especially after the trend towards building new cities in these areas. Construction has always been one of the top revenue-generating industries in the world, the United States construction market is one of the largest. According to Construction Industry Facts, 11.2 million people worked in the construction industry in 2018. Excellent physical and chemical properties of construction glass like thermal insulation, strength and recyclability further add to their popularity. However, a fluctuation in prices of raw materials is one of the major factors which are hampering the growth of global construction glass industry. Moreover, evolving trends, which have a direct impact on the dynamics of flat glass industry, include increasing usage of advanced nanotechnology in flat glass, solar control glazing for automotive and building glasses, and also lightweight glazing glass and increasing use of hybrid guide plate. These technological advancements in the manufacturing process can provide growth opportunity for construction glass market.
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However, since the World Health Organization (WHO) announced the coronavirus 2019 outbreak as a pandemic, many countries have declared a complete national lockdown after a remarkable spike in COVID-19 cases. It is impacting the global construction industry with projects facing labor shortages, supply chain issues and financing pressures. The effects are rippling across the sector from the initial crisis in China to construction sites around the world.
Rising population means need for construction of new buildings and high disposable income has enabled end users to spend more on new construction, which is positively influencing the construction glass market in North America. According to Construction Industry Facts, Over USD 81.2 billion in new contracts were awarded to the top 10 construction companies in the U.S. in 2017. In addition, rapid urbanization & industrialization, rising infrastructure spending, and rise in demand for green buildings are also expected to fuel the product demand in this region over the forecast period.
The product type segment of construction glass market is dominated by float glass by capturing the largest market share 72.22% in year 2019. The application segment of construction glass market is dominated by residential by capturing the largest market share 59.31% in year 2019.
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Major trends of construction glass market are as follows:
- Float Glass: Float glass is the popular glazing product. Float glass is generally available in the following thicknesses in the market: 2, 3, 4, 5, 6, 8, 10, 12, 15, 19 and 25 mm. It is used for smaller windows in domestic housing, whereas modern windows are made from float glass. It can easily be shaped and bent into a variety of forms for a variety of applications such as automobile glass mirrors, windows, furniture, insulated glass and doors. Demands of Reflective coating Glass and Flat Glass: Reflective coating usually consists of thin, metallic layers which come in a variety of colors including gold silver and bronze. It is applied on outer surface of glazing that surface exposed to rain. Reflective coating on the window glass reduces the transmission of solar radiation thus blocking heat and also reduces the windows visible light transmittance. Flat glass is a type of glass produced in plate form and predominantly used for windows, glass doors, windscreens, side and rear-side glazing, backlights and sunroofs and automotive industries. Flat glass is also used in solar-energy applications as well as in urban and domestic furniture, mirrors, appliances and greenhouses.
- Jumbo Glass: It is referred as large glass. It is constantly used in a major product trend, as the material expands on the building envelope. For example, Guardian Glass is a global company in manufacturing of jumbo coated glass around the world. Now, Guardian Jumbo Coated Glass available in North America. Company is offering larger than life capabilities with the assurance to innovation and quality for the customers.
- Sheet Glass: Today, Sheet Glass is the most common type of glazing glass available in the market. Initially, it was formed in plane form. It is typically used for transparent windows, walls, windshields and glass doors. Sometimes, Sheet glass is bent after fabrication of the plane sheet for modern architectural as well as automotive applications. Sheet Glass is used in various commercial offices, buildings and many other places. For example; Bent glass is growing in popularity, with applications for glass railings, awnings, and even walls. This bent glass technology enables larger and more complex bent shapes to be created. This feature has driven increased usability.
- Wired Glass: Wired Glass is a type of glass into which a thin wire mesh is entrenched during production. This glass has an impact resistance similar to that of regular glass, but in case of breaking, the mesh holds the pieces of glass. This glass is also used for fire-resisting doors and window. Wired Glass is commonly used in businesses, schools, businesses, and hotels.
- Plate Glass: Plate Glass is a sheet of glass made up by floating melted glass on a bed of molten metal to give the sheet a uniform thickness and very flat surfaces. It is used for making windows and windscreens for vehicles, facades and windows of the houses and buildings, and various other automobiles, as well as solar energy equipment like photovoltaic modules and solar thermal panels.
- Laminated Glass: Laminated Glass is made up by bonding two or more sheets of glass together with layers of PVB, under pressure and heat, so as to make a single sheet of glass. It offers seamless safety solution from entry doors and glass floors, to display cases and aquariums. It is a combination of glass types, frequently made by using heat-strengthened or toughened glass are desired to be combined. Common uses for laminated glass are overhead glazing and glass floors.
- Ground Glass: It is a plain glass which has a rough and matte finish. This glass is used in windowpanes, bathroom ventilators and at such places where diffused light is required. It is also used for table glassware and mere ornamentation on windows and for scientific uses in optics and laboratory glassware.
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