Construction glass has become an alternative to most of the building materials, such as polycarbonate, brick, and wood. Construction glass is increasingly used as a building construction material, owing to key factors, such as it increases the influx of natural light in the building, safety, security and environmental sustainability. Furthermore, the advancement in manufacturing technology has made glass stronger than steel and lighter than cork, thus making it more economical viable in construction industry. Some of the barriers for the manufacturers is increasing cost of raw materials. This is also affecting the manufacturing cost, as the profit margin of the retailers is reducing due to increasing cost.
The global construction glass market was valued at $81.9 billion in 2015, and it is expected to grow at a CAGR of 7.6% during 2016 - 2022. The growth in the global construction market, technological advancement in glass industry and need for energy saving are the major factors driving the growth of global construction glass market. The increasing middle-class population with high disposable income, and demand for sustainable construction has boosted construction industry, which in turn is propelling the demand for construction glass.
Among the various types, the commercial segment have emerged as the major contributor in the global construction glass market, and also it is expected to witness the fastest growth during the forecast period. Between the two applications, the commercial segment held the larger share in the global construction glass market in 2015. The reason behind huge consumption of construction glass in commercial segment is due to its ability of offering numerous solutions, such as solar protection and temperature control, high resistance to electricity and chemicals, least affected by changing climatic conditions, and flexible in moulding.
Asia-Pacific held the largest share (60.7% in terms of value in 2015) in the global construction glass market. Owing to rapid industrialization and increasing construction activities in developing countries, such as India, Thailand, Malaysia, and China, the consumption of construction glass is increasing. Asia-Pacific is expected to witness the highest growth during 2016 – 2022 in terms of value. The migration of population has also increased from rural areas to urban areas in developing countries, owing to which the demand for new construction, such as residential societies, mall, offices, factories, and manufacturing plants is increasing. Additionally, the increasing purchasing power of individual and increased use of construction glass in residential segment is further propelling the demand for construction glass in the region as well as globally. The fast pace of infrastructural development in South America, Middle East and Africa, is emerging as major market opportunity for the construction industry, which is further boosting the demand of construction glass.
Some of the major competitors operating in the global construction glass market include Asahi Glass, Guardian Industries, PPG Industries, Saint-Gobain S.A., S.A. BENDHEIM LTD., AGC Glass Company Inc., Schott AG, Central Glass Co. Ltd., Nippon Sheet Glass Co. Ltd., JE Berkowitz, and AGNORA.