Benefits of Glass, rising awareness towards energy saving, and increasing construction activities

Glass Market Size – USD 12.56 billion in 2021, Growth – CAGR of 6.1%, Market Trends – Technological developments in the field of Glass

The global Glass Market size is expected to reach USD 21.31 Billion in 2030 and register a revenue CAGR of 3.3 % over the forecast period, according to a latest report by Reports Data. A major factor driving market revenue growth is increasing awareness regarding the benefits of Glass, or low-emissivity glass and government investment on energy saving technology.

Glass has excellent thermal insulation properties and is widely used in skyscrapers, commercial buildings, and glass facades. This glass prevents water droplets to stick on the window glass during the rainy season, increases the durability of the glass, and helps in energy saving as it allows light to pass and keep the temperature at desired level.

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Top Companies: Xinyi Glass, Yaohua Pilkington Glass, Taiwan GlassBlue Star Glass, Sanxin Glass, Qingdao Jinjing, Kibing Group, Huadong Coating Glass, Zhongli Holding, Saint-gobain, NSG, PPG, AGC, Guardian Industries, Schott, Cardinal Glass, Padihamglass, and CSG Holding.

Further Key Finding from the Report Suggestion:

• On the basis of type, the market report is segmented into single Glass, double Glass, and triple Glass. Among these, the double Glass segment accounted for largest revenue share in 2020 as it prevent ultraviolet (UV) light rays to enter in rooms without minimizing the amount of natural light, reduce energy costs and minimize outside noise.
• On the basis of application, the market report is segmented into commercial and residential. Among these, the commercial segment is expected to register a significantly rapid revenue CAGR during the forecast period due to rapid industrialization and growing startup culture
• Asia Pacific Glass market is expected to register fastest revenue growth rate and dominate other regional markets over the forecast period. This can be attributed to rapid urbanization and industrialization in countries in the region. Further, increasing number of construction activities to build smart cities is expected to drive region’s market growth.
• North America Glass market revenue is expected to remain significantly larger over the forecast period. This can be attributed to rapid technological advancements in automotive industry and development of electric vehicles in countries in the region.

Market Overview:

Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.

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The global Glass Market is segmented into:

Glazing Outlook (Revenue, USD Billion; 2019-2030)

• Single Glazing
• Double Glazing
• Triple Glazing

Coating Type Outlook (Revenue, USD Billion; 2019-2030)

• Solar control low-E coating
• Passive low-E coating
• Others

End use Outlook (Revenue, USD Billion; 2019-2030)

• Building and Construction
• Automotive
• Others

Regional Outlook:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Questions Addressed in the Report:

• What are the dominating factors that are influencing the growth of the industry?
• In the forecast period, which market segment is expected to rise the most?
• What are the risks and challenges that the industry is facing?
• In the coming years, which area is projected to dominate the market?
• Who are the major players in the market?
• What kind of strategic business plans have they made?

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