Growth in the construction and building sector and increasing focus on smart city projects and the rising need to develop energy-efficient buildings
NEW YORK CITY, NY, UNITED STATES, May 1, 2022 /EINPresswire.com/ — According to the latest report by Reports and Data, the global Coated Glass Market size is expected to reach USD 60.11 Billion in 2028 and register a revenue CAGR of 8.5% over the forecast period. Rapid growth in the construction industry and the need for the development of more energy-efficient buildings in order to reduce energy consumption are some key factors expected to drive market revenue growth during the forecast period. Residential and commercial structures account for nearly a third (32%) of the total electricity in a country. Countries such as India are introducing a revised version of the Energy Conservation Building Code (ECBC) in order to achieve 50% reduction in energy use by 2030. The government is planning to make the new code mandatory such that the municipalities can use it legally. The ability of coated glass to reduce energy costs associated with the heat transfer that takes place through windows is projected to boost the revenue growth of the market during the forecast period. The microscopic coating on glasses makes windows more thermally efficient. The coating on the glassworks by minimizing the amount of infrared and ultraviolet light that can pass through the glass by reflecting it away thereby reducing radiant heat emissions. Increasing R&D activities for the production of transparent, bioinspired coatings enable the production of conventional glass tougher, self-cleaning, and incredibly smooth. These factors are expected to drive the growth of the market. New transparent, the bioinspired coating could be utilized to create scratch-resistant and durable lenses for eyeglasses, high-quality solar panels, and self-cleaning windows.
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Consumers are placing 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 a 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.
The adoption of digital technologies by oil, gas, and chemical firms has been fueled primarily by cost savings and greater reliability. Many organizations in these areas saw excellent benefits from advanced market sensing, improved operational optimization, and expanded usage of “in silico” simulations. Companies’ existing digital technologies provided an advantage with the abrupt entrance of COVID-19 and the accompanying shutdown of facilities and worksites, but they were often insufficient for the level of remote working and cybersecurity that was suddenly required.
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
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Major players in the market include Compagnie de Saint-Gobain S.A., AGC Inc., Guardian Industries, PPG Industries, Inc., Cardinal Glass Industries Inc, Nippon Sheet Glass Co., Ltd., Central Glass Co., Ltd., China Glass Holdings Limited, Sisecam Group, and Schott AG.
Some Key Highlights From the Report
The low-E glass segment is expected to account for the largest revenue share in the global coated glass market over the forecast period. Exceptional energy efficiency and aesthetics offered by the Low-E coatings are boosting their demand in the construction industry. Due to advancements in Low-E coatings technology, architects can specify large expanses of transparent glass to deliver the benefits of daylighting while enhancing the energy and environmental performance of buildings.
In October 2020, NSG Group announced the launch of Pilkington SaniTise in order to make the world healthier, cleaner, and safer. Pilkington SaniTise is a transparent coated glass that is naturally activated through UV exposure from daylight. The pyrolytic coating on glass provides antimicrobial properties by minimizing enveloped viruses on its surface. Antimicrobial activity, when exposed to natural UV of a coated glass significantly, increases in comparison to uncoated glass. It also provides extra protection to building facades, shared transportation such as trains, school buses, restaurants, or hotels, and exterior shared spaces such as bus shelters. Moreover, coated glass is compatible with commercial-grade cleaning products and is highly resistant to physical corrosion and chemical damage.
The Windows segment is expected to register significant revenue growth over the forecast period. Coated glass windows play a significant role in conserving the energy of a structure as windows are generally responsible for maximum energy losses in any structure. The Low-E windows are more insulative than standard uncoated glasses due to coating. This also helps in reducing energy costs associated with the heat transfer that happens because of windows.
The construction segment is expected to account for a considerable revenue share in the global coated glass market owing to the increasing development of energy-efficient commercial and residential buildings. The need to reduce the energy bills by minimizing energy consumption is raising the demand for coated glass in the construction industry.
The coated glass market in the Asia Pacific is expected to account for the largest revenue share over the forecast period. Investment by major manufacturers of coated glass such as Nippon Sheet Glass Co., Ltd., Central Glass Co., Ltd., China Glass Holdings, AGC Inc., in the development of enhanced and effective coated glass which can be utilized by various end-use industries is expected to help in the growth of the market in the region.
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For the purpose of this report, Reports and Data has segmented the global coated glass market based on product type, application, end-use industry, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
Solar Control Panel
Application Outlook (Revenue, USD Billion; 2018-2028)
End-Use Industry Outlook (Revenue, USD Billion; 2018-2028)
Sports & Leisure
Aerospace & Defense
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Regional Outlook (Revenue, USD Billion; 2018-2028)
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