Solar Control Glass Market to be Driven by Rising Construction of Residential and Non-Residential Buildings Till 2024 | Million Insights

FELTON, California, December 4, 2018 /PRNewswire/ --Global Solar Control Glass Market is anticipated to reach USD 8.88 billion by 2024. Solar control glass implies a hi-tech product developed by the glass industry. It permits sunlight to pass through a window while radiating and reflecting away a certain amount of sun's heat. The factors that propel the growth of the solar control glass market include growing construction of residential and non-residential buildings, increased government initiatives and tax benefits, rising acceptance of solar control glass in cars, increasing consciousness towards carbon emissions, and high development in the building-integrated photovoltaic (BIPV) market.

On the other hand, there are factors that may hamper the growth of the market including high prices. Solar control glass industry is anticipated to grow at a significant CAGR of 9.3% in the upcoming period as the scope, product types, and its applications are increasing across the globe.

Solar control glass market may be explored by type, application, and geography. The market may be explored by type as Absorbing Solar Control Glass and Reflective Solar Control Glass. The "Reflective Solar Control Glass" segment led the solar control glass industry in 2016 and is anticipated to maintain its dominance by 2024. The key factors that may be attributed to the growth of market include increasing concerns about high air conditioning costs and surge in a number of commercial buildings.

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The key applications that could be explored in the solar control glass market include Residential buildings, Commercial buildings, and Automotive. The "Commercial Buildings" segment led the solar control glass industry in 2016 and is anticipated to maintain its dominance by 2024. The key factors that could be attributed to the growth of market include surge in the direct commercial real estate investment in key countries such as New York, London, China, and Japan, increasing energy efficient schemes, and government protocols promoting energy competent buildings.

EMEA accounted for the major market share of the solar control glass in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth include stringent regulations towards fighting climatic changes, growing construction projects, robust growth of the automotive industry in Germany, and rising demand for commercial buildings.

Some of the key players that fuel the growth of the solar control glass industry comprise PPG Industries Inc., AGC Glass Europe, Nippon Sheet Glass (Pilkington), Guardian Glass, CSG Architectural Glass, Saint Gobain, Asahi India Glass, Sisecam Flat Glass, ArconFlachglas-Veredlung GmbH & Co. KG, Euroglas GmbH, and Cardinal Glass Industries. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.