Coated Glass Market to Expand 2.3X, Energy Efficient Infrastructure to be Key Demand Driver, Says Fact.MR
Published : 06 Mar 2020 Industry: Chemical & Materials
Rising temperatures and increasingly stringent carbon emission norms position the global coated glass market to grow at a robust pace of over 8% CAGR during the forecast period (2019-2029). Coated glass characteristics such as solar control, and enhanced illumination garner consumer traction. Reduction of carbon emissions from cooling systems is a priority for organizations. Coated glass aids energy savings by reducing the amount of cooling or heating required in corporate and commercial buildings. Modern architecture is witnessing rampant adoption of coated glass in residential, as well as, commercial spaces. Architects at the forefront of modern designs, employ coated glass in strategic ways to extract maximum sun blocking, while enhancing visual appeal. When coupled with high-temperature outliers in GCC countries, analysts project a meteoric growth in Middle East.
Key Takeaways of Coated Glass Market Study
- East Asia accounts for a majority of global sales with more than 1/4rd of the total market value. The region exhibits an impressive 7% CAGR growth.
- Middle East & Africa offers the most remunerative growth opportunities, on the back of, market penetration of international coating standards coupled with increasing disposable income of high-net-worth individuals.
- Owing to low emissivity and cost-efficient production processes, the soft coating segment will grow 2X from 2019 to 2029.
- Architectural applications will continue to lead product demand on the back of increasing infrastructure development and the consequent need for energy efficient buildings.
- Optical applications exhibit the highest growth rate of more than 15% CAGR till 2029. Consumer preference for sun blocking characteristics in lenses and anti-glare glasses propel the coated glass demand from this segment.
- Automotive applications will show the second highest growth of over 10% CAGR during the forecast period. Commercial and consumer vehicles are rapidly employing sun reflective glasses to address temperature control and anti-glare needs while driving.
“Manufacturers are innovating production processes to accommodate the rising need for customization from clients. The competitive landscape is driven by material, and sun blocking performance. Market players must identify future growth prospects based on application segment requirements.”-Says the Fact.MR Analyst
Competition Heats Up as Innovations in Coated Glass Abound
Emerging countries offer growth opportunities for international coated glass manufacturers. Innovations such as nano textured glass, directional glass, and hydrophilic glasses are attracting customers. For instance, the hydrophilic glass ensures self-cleaning of fog on the glass surface. Product characteristics such as anti-contamination, anti-bacterial, and icephobicity impel market demand during the forecast. For example, icephobicity helps consumers in extreme cold temperatures to ensure that ice from snowfall does not obstruct visibility and can be removed easily. The competitive landscape of coated glass market is moderately fragmented. Research and development activities in modern architecture is another fueling factor. Market players can leverage this by investing in industry 4.0 technologies such as cobots, and automated guided vehicles to reduce manufacturing costs. These technologies also cater to an emerging made-to-order customer trend by enabling real time collaboration, precision in design, and cost efficient manufacturing.
Find More Valuable Insights on Coated Glass Market
Fact.MR, in its new offering, provides an in-depth analysis of the global coated glass market, displaying data on historical demand (2014-2018) and forecast data for the period, 2019-2029. The study provides readers with essential insights on the coated glass market on the basis of coating (hard and soft), application (architectural, automotive, optical, and others), and across 6 key regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).
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About the Chemicals & Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the Chemicals & Materials team at Fact.MR helps clients from all over the globe with their unique business intelligence needs across the value chain. With an exhaustive database of over 1,000 reports and 1 million plus data points, the team has analyzed a number of chemicals and materials lucidly in 50+ countries for over a decade. The chemicals & materials team at Fact.MR assists clients in their business expansion as well as new ventures, through hawk-eyed analysis and strategic recommendations. For more chemicals domain expertise, visit here.