construction glass industry is expected to exhibit steady growth over the forecast period from 2017 to 2023
The global construction glass industry is expected to exhibit steady growth over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The growing demand from the construction industry in emerging Asia Pacific economies is likely to be a major driver for the global construction glass market over the forecast period.
Leading players in the global construction glass market include Guardian Industries Corp. Ltd., AGNORA, JE Berkowitz LP, Nippon Sheet Glass Co. Ltd., Saint-Gobain S.A., PPG Industries Inc., Central Glass Co. Ltd., Schott AG, AGC Glass Company North America Inc., and S.A. Bendheim Ltd.
In July 2019, researchers at the University of the Free State in South Africa and Ghent University in Belgium developed a working model for a transparent solar panel, which could be installed in windows and take care of local energy needs in a highly efficient manner. The model now needs to be refined and made more efficient before commercialization. Research projects such as these are likely to be crucial for the construction glass market moving forward, due to the increasing importance of energy-saving glass and other related construction innovations.
The global construction glass market is segmented on the basis of application, type, and region.
By application, the global construction glass market is segmented into commercial, residential, and others.
By type, the global construction glass market is segmented into flat and special glass.
The global construction glass market is expected to be dominated by Asia Pacific over the forecast period, as the growing construction industry in the region has provided construction glass manufacturers and providers with a steady revenue generation opportunity. The rising prospects of the construction industry in Asia Pacific are likely to remain a valuable driver for the construction glass market in the region over the forecast period. The increasing disposable income of consumers in Asia Pacific has led to an increasing demand for new residential construction, leading to a growing demand for construction glass products. Major urban centers in countries such as India, China, Japan, South Korea, the Philippines, Indonesia, and Malaysia have seen rapid growth in the number of occupants, leading to a growing demand for residential apartments and complexes. This has driven the demand for construction glass, as window making remains one of the most important applications for the construction glass market.
The increasing number of high net worth individuals in Asia Pacific has also increased the demand for the use of glass as a construction material in place of concrete. Rising commercial development has also enabled the construction of glass buildings built to exhibit wealth and power rather than conventional concrete structures. This is likely to remain a major driver for the construction glass market in Asia Pacific over the forecast period. The increasing commercial development in cities such as Mumbai, Delhi, Shanghai, Beijing, Chongqing, and Guangdong has led to a rapid growth in the construction of skyscrapers as well as commercial complexes and shopping malls, which often utilize more glass in their construction than residential construction. This is likely to remain a key driver for the global construction glass market over the forecast period.
In North America and Europe, the construction industry is mostly stationary, with little new residential construction going on on a large scale. Industrial construction is likely to provide significant opportunities for the construction glass market in developed countries over the forecast period, as is the increasing demand for repair and replacement services. Replacing traditional window glass with energy generating or energy-efficient glass is likely to be a highly popular procedure in North America and Europe over the forecast period. This is likely to become a major factor in the global construction glass market’s development, as the demand for energy-conserving window panes that help control the temperature of the building is likely to grow rapidly over the forecast period, with customers becoming more ecomentalist and governments providing steady incentive schemes for those who install energy conservation measures on their houses. The rising demand for zero-energy homes, where the net energy consumed is more than or matched by the energy generated by inhouse schemes, is likely to be a major factor in the global construction glass market’s development over the forecast period.