Coated Glass Market Accelerates at 9.4% CAGR to Cross US$ 104 Billion by 2034: Fact.MR Report
Preference for Coated Glass Increasing among Architects for Design Flexibility and Aesthetic Value
Rockville , Nov. 08, 2023 (GLOBE NEWSWIRE) -- Fact.MR, in its market research report, reveals that the global *Coated Glass Market* reached a value of US$ 38.7 billion in 2023 and is predicted to advance at a CAGR of 9.4% from 2024 to 2034. Increasing number of commercial structures across regions is set to push the sales of coated glass as one of the pivotal construction materials.
Rising concerns about increasing air conditioning expenditures in commercial buildings are projected to bolster the demand for solar control glass. In recent years, the growing penetration of green buildings and the need to improve energy efficiency have been predicted to fuel the demand for coated glass in the construction sector.
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*Key Segments of Coated Glass Industry Research Report*
*By Coating Type* *By Product* *By Function* *By Application*
· Hard
· Soft
· Low E Glass
· Heat-reflective
· Safety & Security
· Solar Control
· Optics & Lighting
· Fire-rated
· Architecture
· Automotive
· Optical
· Electronics
· Aerospace & Defense
· Sports & LeisureCoated glass is used significantly in commercial and residential buildings to allow maximum visible light and keep inside rooms cooler. Moreover, the growing use of coated glass in colder regions is attributed to its feature of maintaining the warm temperature of the respective room. In addition, the development of several service industries, including IT (information technology) & ITES (information technology-enabled devices), is also predicted to boost overall demand for coated glass for various purposes.
*Key Takeaway from Market Study*
· Worldwide demand for coated glass reached a market value of US$ 38.7 billion in 2023.
· The global coated glass market is estimated at US$ 42.32 billion in 2024.
· Sales of coated glass are forecasted to reach US$ 104 billion by the end of 2034.
· The market is predicted to advance at 9.4% CAGR from 2024 to 2034.
· Soft-coated glass held 68.1% share of global market revenue in 2023.
· Asia Pacific contributed more than 35% of revenue share to the global market in 2023.
· The architecture segment held 91% share of the global market in 2023.
* “Rapid urbanization, increasing global population, and need for affordable housing options are predicted to boost demand for coated glass for multiple purposes,”* says a Fact.MR analyst.
*Higher Optical Clarity of Soft Coating Glass*
Worldwide demand for soft-coating glass is predicted to increase at a 9.1% CAGR and reach a value of US$ 50.71 billion by the end of 2034. The ultra-low emissivity of the glass causes it to reflect more heat compared to hard-coated products. In addition, higher optical clarity and more visible transmission of soft-coated products are projected to contribute to growing sales.
*Market Competition*
Competition in the market is driving companies to employ a range of strategies to meet their objectives, which encompass efficient supply chain management, product quality assurance, and innovation. Market players are adopting both organic and inorganic approaches, such as introducing new products and forming collaborations.
For example:
· In April 2021, Vitro Architectural Glass unveiled VitroSphereTM, a digital glass simulator tool.
*Key Market Players*
China Glass Holding Ltd., AGC Inc., CEVITAL GROUP, Fuyao Glass Industry Group Co. Ltd., Central Glass Co. Ltd., Euroglas, Guardian Industries, Saint-goblin S.A., Nippon Sheet Glass Co. Ltd., SCHOTT AG, Taiwan Glass Ind. Corp., Sisecam Group, Vitro S.A.B. DE C.V., Cardinal Glass Industries, and Xinyi Glass Holdings Co. Ltd. are prominent suppliers of coated glass.
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*Report Attribute* *Details*
Value Projection (2034) USD 104 Billion
Growth Rate (2024-2034) 9.4% CAGR
No. of pages 170 Pages
No. of Tables 98 Tables
No. of Figures 192 FiguresThe increasing popularity of floating solar farms is poised to drive the demand for solar panels, subsequently fueling the need for coated glass. Furthermore, the ongoing construction activities are creating a demand for high-quality coated glass due to environmental considerations. This trend is expected to create opportunities for startups, offering them the chance to invest in the production of premium coated glass to attract customers.
Within the European region, Germany stands out as a prominent market with a strong emphasis on sustainable development. The green construction sector in the country focuses on aspects like energy efficiency, lighting, self-sufficiency, and insulation in buildings. Additionally, luxury automobile manufacturers are incorporating coated glass windshields to enhance the overall driving experience for consumers. With the growth in vehicle production within the country, the demand for coated glass is anticipated to rise.
*More Valuable Insights* *on Offer*
Fact.MR, in its new offering, presents an unbiased analysis of the coated glass market, presenting historical demand data for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on coating type (hard, soft), product (low E glass, heat-reflective), function (safety & security, solar control, optics & lighting, fire-rated), and application (architecture, automotive, optical, electronics, aerospace & defense, sports & leisure), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).
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