The global solar control glass market was valued at an estimated $4,198.0 million in 2015, and it is expected to grow at a CAGR of 9.2% during 2016-2022. The factors driving the growth of the global market are increased government initiatives and tax benefits, growing construction of residential and non-residential buildings, huge growth in the building-integrated photovoltaic (BIPV) market. The key trend witnessed in the global market is technological advancements.
New product innovation and rapid transformation of coating technology allows architects and engineers to fine tune the properties of functional glass with light and radiation. Solar control glass is the most important innovation in the modern glass technology field. Solar control glass is a glass with special coatings that reduce the amount of heat entering into buildings. It plays an important role in building design and helps to create a sustainable green environment.
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Among the various applications of solar control glass, the commercial building segment is estimated to hold the largest share in the global solar control glass market in 2015. Solar control glass is a specially made glass, which is designed to keep building interiors soothing by preventing the build-up of solar heat. Solar control glass can be used in building design and construction, thus reducing the need for expensive air-conditioning or obtrusive window blinds. Commercial building owners are expected to invest an estimated $960 billion globally between 2015 and 2023 on greening their built infrastructure.
Asia-Pacific is anticipated to be the fastest growing market of solar control glass. The major reason for the highest growth in the region is the strong surge in construction industry. Moreover, the several tax benefit schemes and growing BIPV market are also supporting the growth of the Asia-Pacific solar control glass market. A high investment from China and Japan in the solar control glass market is expected to fuel its growth in Asia-Pacific during the forecast period.
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Some of the major players operating in the global solar control glass market include Saint-Gobain S.A., Asahi Glass Co. Ltd., Nippon Sheet Glass Co. Ltd., Guardian Industries, Taiwan Glass Group, Trakya Cam Sanayii A.Ş.
GLOBAL SOLAR CONTROL GLASS MARKET SEGMENTATION
- Commercial Buildings
- Residential Buildings
- North America
- Rest of the World
This post was originally published on Raleigh Recorder