Published: June 2016 | Report Code: CM10687 | Available Format: PDF | Pages: 100
The global construction glass market stood at $81.9 billion in 2015, and it is expected to demonstrate a CAGR of 7.6% during the forecast period (2016–2022). The growing construction industry, rising need for environment-friendly building materials, energy saving, technological advancement, rising disposable income of middle-class population, and increasing need for sustainable construction are some of the vital factors boosting the market growth.
Construction glass has become a substitute to most of the building materials, such as bricks, polycarbonate, and wood. This is owing to its ability to increase influx of natural light in buildings, security, safety, and environmental sustainability. Additionally, advancements in glass manufacturing technologies has led to production of strong and lightweight glass for the construction industry.
Based on application, the commercial category accounted for larger share in the construction glass market in 2015, and it is likely to witness higher growth during the forecast period. This growth can be attributed to its ability to offer protection from harmful ultraviolet (UV) rays, along with high resistance to chemicals and electricity. Additionally, construction glasses are least affected by environmental changes.
Globally, the APAC construction glass market held the largest share, of 60.7%, in terms of value, in 2015. With rapid industrialization and increase in construction activities in developing nations, such as India, Thailand, Malaysia, and China, the consumption of construction glass has significantly increased. The market in the region is expected to witness the fastest growth during the forecast period, owing to the increasing new construction facilities, including malls, offices, residential societies, factories, and manufacturing plants. Moreover, increase in purchasing power of individuals and increase in usage of construction glass in suburban areas are expected to further boost the demand for construction glasses in the region.
Furthermore, rapid growth in the infrastructure sector in regions, including South America and Middle East & Africa, is expected to serve as a major opportunity for the construction industry, thereby benefitting the construction glass market in the coming years.
Some leading players in the global construction glass market include PPG Industries, Saint-Gobain S.A., Guardian Industries, S.A. BENDHEIM LTD., Schott AG, AGC Glass Company Inc., Central Glass Co. Ltd., Nippon Sheet Glass Co. Ltd., Asahi Glass, JE Berkowitz, and AGNORA.
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