Energy Efficient Glass Market Worth $32.02 Billion by 2023
PUNE, India, September 5, 2018 /PRNewswire/ --
According to the new market research report on the "Energy Efficient Glass Market by Coating (Hard Coat, Soft Coat), Glazing (Single Glazing, Double Glazing, Triple Glazing), Application (Building & Construction, Automotive, Solar Panel), and Region- Global Forecast to 2023", published by MarketsandMarkets™, the global market is estimated to be USD 25.11 billion in 2018 and is projected to reach USD 32.02 billion by 2023, at a CAGR of 5.0% between 2018 and 2023. The growth of the Energy Efficient Glass Market can be attributed to the increasing consumption of energy efficient glass in the building & construction, automotive, and solar panel industries. This increase in consumption is attributed to the low emissivity property of energy efficient glass.
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Soft coat is expected to be the leading segment of the Energy Efficient Glass Market, by coating, during the forecast period.
Based on coating, the Energy Efficient Glass Market has been segmented into hard coat and soft coat. The soft coated energy efficient glass segment is expected to lead the market between 2018 and 2023. The growth of the segment is mainly attributed to its high demand from the cold climate regions such as Europe and North America. The demand is also high due to superior properties of soft coated glass such as high visible light transmission and low emissivity, which is 70% less as compared to standard clear glazing.
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The triple glazing energy efficient glass segment is projected to register the highest CAGR between 2018 and 2023.
Based on glazing, the Energy Efficient Glass Market has been segmented into single glazing, double glazing, and triple glazing. Triple glazing energy efficient glass is projected to be the fastest-growing glazing segment of the market during the forecast period. The growth of the segment is mainly attributed to its excellent low emissivity property. Stringent regulations globally for energy conservation is a major factor driving the consumption of triple glazing energy efficient glass.
Europe is expected to lead the Energy Efficient Glass Market during the forecast period.
The Energy Efficient Glass Market has been studied for APAC, North America, Europe, South America, and the Middle East & Africa. Europe is projected to be the largest Energy Efficient Glass Market during the forecast period. Stringent regulatory compliance regarding energy conservation by the building & construction contractors is the major factor driving the Energy Efficient Glass Market in the region. The high disposable income, high living standard, and strong awareness about sustainable and innovative products are major factors driving the consumption of energy efficient glass in the building & construction, automotive, and solar panel industries in Europe.
Saint-Gobain S.A. (France), Nippon Sheet Glass Co., Ltd. (Japan), AGC Inc. (Japan), SCHOTT AG (Germany), Guardian Glass, LLC. (US), Sisecam Group (Turkey), and Vitro Architectural Glass (US) are the leading energy efficient glass manufacturers, globally.
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