Construction Glass Sales are increasing at 7% CAGR amid Rising Focus on Sustainable Living: Fact.MR

Fact.MR – A Market Research and Competitive Intelligence Provider: The global construction glass market is anticipated to grow at 7% CAGR between 2021 and 2031 to reach valuation of US$ 90 Bn by 2031.The market surpassed US$ 46 Bn in 2020. Historically, sales totaled US$ 46 Bn in terms of market value, growing at 5% CAGR between 2016 and 2020.

Glass can transmit daylight and stay unaffected by weather. Furthermore, color of a glass does not get affected by changes in the environment. As a result, it looks visually pleasing for a longer time.

Construction glass is not only recyclable, but it can also be shaped and reused numerous times. As a result, glass has emerged as a cost-effective alternative for various materials used in construction sector. Furthermore, environmentally concerned customers are choosing glasses that have passed sustainable production procedures. This is expected to bode well for the market.

The European Bank for Reconstruction and Development (EBRD) has sponsored 200 big projects totaling US$ 20 billion in green buildings under the Green Economy Transition (GET) strategy. Coupled with rising investment, the demand for energy-efficient construction glasses has also been aided by the implementation of favorable government legislation.

The need for building construction glass is being driven by urbanization and demand from residential and commercial sectors. The increasing demand for lighter, stronger, and more energy-efficient construction glasses will continue to drive construction glasses production. The building sector will also remain a profitable market for glass producers.

"With the advent of modern glazing solutions, consumers are choosing construction glasses that are energy efficient, improve flood of natural light while helping in the reduction of energy usage. In addition to this, developments such as self-cleaning glass, insulated glazing glass, sound-reducing glass, and sun control glass will drive the market," said a Fact.MR analyst.

Key Takeaways from Construction Glass Market Research Report

• Asia will account for over 40% of total construction glass market and is estimated to increase in coming years.

• Europe is projected to account for over 30% of total market share in forecast period.

• By manufacturing processes, float construction glass is anticipated to grow at 4% CAGR between 2021 and 2031.

• Construction sector employs around 18 Mn people and accounts for about 9% of total GDP in Europe.

 Growth Drivers:

• Increasing demand from construction industry for affordable and better glass materials will drive market growth.

• Industrial growth across countries such as China and India will drive demand for construction glass in coming years.

Competitive Landscape:

Key players are focusing on investment and key strategies to increase market revenue. For instance,

In July 2021, AGC Glass Company Inc, a leading major participant has agreed to buy a manufacturing facility in Longmont, Colorado, from Novartis Gene Therapies.

In January 2019, another key player, Saint Gobain opened third-floor glass plant at world glass complex Sriperumbudur.

Key companies profiled in the global construction glass market include

• China Glass Holdings

• Saint Gobain

• PPG Industries

• Corning International

• AGC Co

• Kyocera Co

• Nippon Sheet Glass Co., Ltd.

• Fuyao Glass Industry Group

• Guardian Industries

• Vitro Glass

More Insights on Construction Glass Market:

Fact.MR provides an unbiased analysis of construction glass market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the construction glass market with a detailed segmentation on the basis of:

Type

• Low-e Glass

• Special Glass

Chemical Composition

• Soda-Lime

• Potash-Lime

• Potash-Lead

Manufacturing Process

• Float Process

• Rolled/Sheet Process