The global coated glass market is expected to exceed $24.5 billion by 2024, according to a new research report by Global Market Insights, a market research and strategy consulting firm.   

Rising population and better living standards of people along with stringent regulations pertaining to environmental issues initiated by Environmental Protection Agency (EPA) and Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) for construction projects, will drive coated glass market size, said the report.

Safety regulations implemented by Federal Emergency Management Agency (FEMA) and Leadership in Energy and Environmental Design (LEED) coupled with increasing middle-class disposable income to buy luxurious vehicles, will further stimulate industry growth, added the report.

Increasing demand for clean source of energy along with addition of better aesthetical value to the buildings will drive coated glass market. Favourable government schemes along with growth in FDI funding in India and China has propelled the growth of construction and automotive industries in the region, thereby propelling product demand. Environmental concerns regarding CO2 emissions and consumer awareness towards energy efficient buildings will stimulate industry growth.

Solar control glass market demand from construction applications will witness gains at over 4 per cent during the projected timespan. The products are used in combination to create multi-functional glazing which results in noise reduction, low-maintenance, enhanced safety and security and aesthetic appeal. They have a microscopically thin coating on one side of the glass which reflects the heat from the sun to the outside and keeps the interiors cooler, thereby enhancing the energy efficiency of the building and stimulating coated glass market growth.

Hard coat glass market demand from automotive windshield application will witness steady gains at over 4.5 per cent by the end of forecast period. Increased usage of product in windscreens to offer convenient driving during harsh weather conditions such as fog, ice, mud and rain will boost product demand. Growing automotive manufacturing base in Asia Pacific region along with acoustic, thermal and visual comfort and style and taste of the products in automobiles will positively influence coated glass market size.

Europe, with steady growth in Germany, UK and France coated glass market size will exceed 380 million sq m during the forecast period. Builders are more concerned towards safety and security, environmental protection and natural insulation in residential as well as commercial buildings. Superior solar performance, absorption, transmission and reflection properties of the product along with increasing approach towards achieving greater energy efficacy of the buildings will drive industry growth.

US solar control glass market size from residential buildings will exceed $50 million at the end of 2024. Increasing expenditure on household remodelling and renovation activities in the US along with promotion of renewable energy resources will fuel industry growth. Rising application of the product in automobile interiors combined with increasing automotive production output is anticipated to drive market growth to a certain extent.

India soft coat glass market size is likely to register significant gains close to 6 per cent during the forecast timeline. Increasing construction projects along with styling flexibility, transmittance and reflection properties of these product will drive regional industry growth.

The product offers thermal performance and neutral appearance similar to its counterparts, resulting into coated glass market demand.

Prominent industry players in coated glass market are Guardian Industries, Sisecam Group, Saint-Gobain, Abrisa Technologies, Scheuten Glas, Pilkington Group and PPG Industries. Shift in consumer trends towards energy efficient products along with growing demand for cleaner energy sources, will force manufacturers to develop and enhance product portfolio and take strategic initiatives to meet consumer demand.

The report is titled, “Coated Glass Market Size By Product (Low Emissivity [Low-E], Solar Control, Hard Coat, Soft Coat), By Application (Construction [Residential, Non-Residential {Commercial, Institutional, Offices, Hospitals}, Industrial], Automotive Windshields), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Poland, China, Japan, India, South Korea, Australia, Malaysia, Thailand, Brazil, Saudi Arabia, UAE, South Africa), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2017 – 2024”. – TradeArabia News Service