Coated Glass Market To Record An Impressive Growth At $71.71 Billion By 2030, Based on Rising Penetration of Green Buildings And Need To Improve Energy Efficiency | Grand View Research, Inc.

May 25 08:12 2022
Coated Glass Market To Record An Impressive Growth At $71.71 Billion By 2030, Based on Rising Penetration of Green Buildings And Need To Improve Energy Efficiency | Grand View Research, Inc.
Grand View Research, Inc. – Market Research And Consulting.
According to a new report published by Grand View Research, the expansion of the solar industry supported by favorable government regulations is likely to contribute to the growth of the coated glass industry.

Coated Glass Industry Overview

The global coated glass market size was valued at USD 32.32 billion in 2021 and is expected to reach USD 71.71 billion by 2030, growing at a compound annual growth rate (CAGR) of 9.3% during the forecast period.

The rising penetration of green buildings and the need to improve energy efficiency and rising awareness associated with it are projected to benefit the market growth over the coming years. Coated glass is used in residential and commercial buildings to keep the inside rooms cool and allow maximum visible light. By reflecting the infrared energy, the temperature inside the building is cooler and therefore it reduces the dependence on air conditioning systems. The product is also used in colder regions, to maintain the warm temperature of the room. In the building & construction industry, coated glass is generally used in the form of insulated glazing units in façades and windows. As a result, the growth of the construction industry in the U.S. is predicted to benefit the market.

Gather more insights about the market drivers, restrains and growth of the Global Coated Glass Market

The growth of the U.S. market is likely to be supported by the USD 1.2 trillion Bipartisan Infrastructure Bill in the country, which is projected to drive the put-in-place construction value for transport infrastructure at an average rate of 8.9% from 2020 to 2025. This is anticipated to benefit the expansion of bridges, rails, ports, water transport, telecommunications, broadband, EVs, and energy. The construction industry has recovered well since the beginning of 2021, as the COVID-19 cases have reduced significantly, benefiting the resumption of industrial activities. The residential sector in the U.S. is likely to benefit from low mortgage rates and strong demand for bigger homes.

U.S. coated glass market, by coating, 2020 - 2030 (USD Billion) 

 

However, lack of skilled labor and rising costs for building materials remain short-term challenges for market players. Jumbo-coated architectural glass is the major trend in the U.S. market. As a result, companies are establishing jumbo coaters to serve their demand. For instance, in 2021, Guardian Glass started production of super jumbo coated glass with the dimension of 130” x 240”. The production has started at the company’s Carleton, Michigan facility.

 

Coated Glass Market Segmentation

Based on the Coating Insights the market is segmented into Hard and Soft

  • Soft coating segment held the largest revenue share of over 68.0% in 2021 and is also projected to grow at the fastest rate over the forecast period. In colder regions, to retain the heat inside the room, sputtered coating is applied to the outside face to re-radiate the heat inside the room. This type of glass is typically employed in double-glazed units and can be used in all climates.
  • For hard coated glass, special handling procedures and equipment are not required. This type of product is shipped and handled using the same equipment as that for non-value-added float glass. The significant factor contributing to the growth of this segment is the durability of hard coated products.

 

Based on the Application Insights the market is segmented into Architecture, Automotive, Optical, Others

  • The architectural application segment held the largest volume share of over 92.0% in 2021 and is expected to continue its dominance over the forecast period. 
  • The automotive segment is expected to grow at a rate of 3.7% from 2022 to 2030, in terms of volume. Coated products, particularly Low-e coated glass, are used in the windshield of automobiles. 

 

Based on the Regional Insights the market is segmented into North America, Europe, Asia Pacific, Central & South America, & Middle East & Africa

  • The Asia Pacific held a revenue share of 35.0% in 2021, of the global market. China, Japan, and South Korea are significant markets in the Asia Pacific. Also, developing economies such as India and Southeast countries including Indonesia and Thailand has huge potential.
  • Europe coated glass market is expected to grow at a CAGR of 9.2% from 2022 to 2030, in terms of revenue.  Heating & cooling, insulation, lighting, and self-powered building are the key areas of focus in the green construction industry in the region. Low-E coated solar control glass is used in many high-efficiency buildings where the heat is reflected from the windows leaving cold air for ventilation during the summers.

 

Browse through Grand View Research’s Advanced Interior Materials Industry Research Reports

  • Air Conditioning Systems MarketThe global air conditioning systems market size was valued at USD 106.60 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.2% from 2021 to 2028 and is anticipated to be driven by technological advancements and rising adoption of the software in advanced electronic devices.

 

  • Solar Control Glass Market: The global solar control glass market size was valued at USD 4.2 billion in 2015 and is expected to expand at a CAGR of 9.3% over the forecast period. Solar control glass is a new offering by the glass industry that reflects a large amount of sun’s radial heat and aids in keeping the indoors cooler as compared to normal float type.

 

Market Share Insights

  • September 2021: Guardian Glass started production of super jumbo coated glass with the dimension of 130” x 240”.

 

Key Companies Profile:

The recent trend in the glass industry depicts that primary manufacturers are targeting their investments in value-added products like coated glass.

Some of the prominent players in the global coated glass market:

  • China Glass Holding, Ltd.
  • AGC Inc.
  • Euroglas
  • Guardian Industries
  • Central Glass Co. Ltd.
  • Fuyao Glass Industry Group Co., Ltd.
  • CEVITAL GROUP

 

Order a free sample PDF of the Coated Glass Market Intelligence Study, published by Grand View Research.

 

 

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

Web: www.grandviewresearch.com

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