Global Coated Glass Market is Expected to Reach USD 25.24 Billion by 2025 : Fior Markets

Global Coated Glass Market by Production Process (Hard Coat, Soft Coat), Product (Low E Glass, Heat Reflective Glass), Application, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025

New Jersey, NJ, Aug. 26, 2019 (GLOBE NEWSWIRE) -- The most important driving factor for the market growth is growing worldwide emphasis on energy efficiency especially in the construction of Green Buildings and fuel efficient cars. The Global Coated Glass Market is expected to grow from USD 16.17 billion in 2017 to USD 25.24 billion in 2025 at a CAGR of 5.72% for the forecast period 2018-2025, according to the new report published by Fior Markets.

Outer layer of the glass when applied with thin coating of mineral especially China Clay gives Coated Glass. This coating provides superior properties such as anti-scratch, anti-reflective, low surface emissivity, corrosion resistance, improved impact resistance and unwanted UV and IR radiation reflection. Due to this superior energy efficient properties of coated glass, the Government of India removed Customs duty on import of anti-reflective coated solar tempered glass in 2017.

The low emissivity and heat reflective properties of coated glass have propelled its use for construction activities, especially for housing and office spaces. There has been global push for making the buildings more green and energy efficient thus increasing the demand for coated glass. However, complex manufacturing process and high energy consumption during production leading to environmental concerns is expected to limit the market growth. Nevertheless, the foundation of international solar alliance as well as advent of electrical vehicles is anticipated to create new market opportunities for the global coated glass market in upcoming years.

Key players operating in the major players of global coated glass market include Saint Gobain, Guardian Industries, Corning Inc, Interfloat Corporation, Borosil Glass Works, Hecker Glastechnik GmbH, Xinyi Solar Holdings, Nippon Sheet Glass, Sisecam Flat glass, AGC Solar and others. Key players active in the global coated glass market are involved in collaborative agreements and expansion to bolster the growth of the market.

• For instance, in 2018, Saint Gobain employed Manz AG as technology partner to develope a new laser process, ACTILAZ™ for surface treatment of heat-insulating glass. ACTILAZ™ uses "laser annealing" to increase the efficiency of metallic coatings on very large glass substrates such as those required for architectural applications.

• For instance, in 2018, Owens-Illinois (O-I) has acquired nearly half of Mexican container glassmaker Empresas Comegua. Owens-Illinois said it acquired a 49.7% interest in Empresas Comegua from Fabricación de Màquinas (FAMA), a Vitro subsidiary.

• Worldwide demand from solar energy sector segment for coated glass has also given fillip to increased world over production of coated glass. For instance, Gujarat Borosil in 2017 inaugurated world’s first 2mm tempered glass production process. The 2 mm solar glass is lighter than the current world standard of 3.2 mm, absorbs less solar energy while allowing higher irradiance to reach the solar cell. This will help in harnessing the solar energy more efficiently than done ever before, according to the company.

Hard Coated Glass segment held the largest share in 2017.

The production process segment is classified into hard coat and soft coat. Hard coat glass segment holds the largest share of 68.34% by total revenue in 2017 and is expected to continue to do so on account of unabated demand from automotive sector owing to its superior anti abrasion and high impact resistance properties. In spite of its complicated manufacturing process, soft coated glass segment is expected to witness a robust growth at a CAGR of 6.54% over the forecast period due to growing demand for residential and commercial architectural applications. 

Low E Glass Segment is expected to grow at a CAGR of 6.17% from 2018 to 2025.

Product segment constitutes Low E glass and Heat reflective glass. Low E Glass Segment is slated to progress at a CAGR of about 6.17% during the forecast period on account of unabated demand from automotive and solar energy generation sectors. Heat reflective glass segment as well is projected to witness significant growth due to growing demand from tropical regions of the world.

Architectural segment dominated the market with 58.94% in 2017.

Application segment is divided into architectural, automotive, optical, electronics, aerospace and defense. Owing to huge pent up demand for Low E and Heat reflective glass from construction sector, architectural segment held the largest share of Global Coated Glass Market with 58.94% of total revenue in 2017 and is expected to do so in  the future. Automotive segment followed second with accounting for 21.63% of total revenues in 2017.

Regional Segment Analysis of the Coated Glass Market

• North America (U.S. , Canada, Mexico)

• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)

• Asia-Pacific (China, Japan India, Rest of APAC)

• South America (Brazil and Rest of South America)

• Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific region dominated the global coated glass market in 2017 with 31.67% of total volume whereas the North America region held the second dominant position. Asia Pacific region is witnessing huge construction activities for commercial, residential and office space due to phenomenal rise of IT and ITES industries. This has generated huge demand for coated glass for architectural purposes. Also, the huge demand for automotive vehicles in Asia Pacific region is also contributing towards the increasing sales of coated glass. North America is also expected to generate robust demand for the coated glass owing to its well-developed automotive and aerospace industry. Middle East sector especially UAE, Qatar and Saudi Arabia is also expected to generate huge demand for coated glass due to ongoing and planned construction of new cities as well as construction of new sporting arenas and skyscrapers.