According to the latest report by Fact.MR, the construction glass market surpassed US$ 46 Bn in 2020. Steady growth in sales for construction glass seems to provide a positive outlook to the industry.
Moreover, constant demand from the construction industry for better and economical glass materials will act as a driver for the demand in the long run. Thus, the market is expected to surpass US$ 90 Bn by 2031 by reaching a CAGR of 7%.
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Key Segments
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Type
- Low-e Glass
- Special Glass
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Chemical Composition
- Soda-Lime
- Potash-Lime
- Potash-Lead
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Manufacturing Process
- Float Process
- Rolled/Sheet Process
Competitive Landscape
- For instance, in July 2021, AGC Glass Company Inc, a key market player has signed an agreement with Novartis Gene Therapies to purchase a manufacturing facility located in Longmont, Colorado U.S.
- In January 2019, another key player, Saint Gobain inaugurated the third-floor glass plant at the world glass complex Sriperumbudur.
Why is Float Glass Gaining Popularity?
Float glass is made from calcium and sodium silicate. Float glass can be easily cut without any special equipment. In addition, it is easily available in a wide range of thickness and weight.
Float glass has gained traction in the residential sector owing to its easy functional purposes and allowance of light influx in the house. As float glass is a great insulator, it is largely being adopted for windows of residential sectors. Thus, float glass is expected to upsurge a CAGR of 4% for the construction glass industry.
Why is Asia Attracting Construction Glass Manufacturers?
In the past half-decade Asia held around 40% of the global construction glass sales and is projected to hold a similar rate over the next decade. Increasing construction activities and industrial growth in countries like China & India are likely to drive the demand for glasses. Additionally, an increase in purchasing power of people with a change in preference in terms of material and properties will propel the growth of the industry.
With a focus on mitigating CO2 emissions in countries like China, India and Japan are investing heavily in the green business equally contributing towards the growth of construction glass sales. For instance, Japan is leading the race in the environmental goods and services (EGS) sector with the production of resource-efficient technology and greening of businesses to promote environmental sustainability.
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