Published: March 2016 | Report Code: CM10613 | Available Format: PDF | Pages: 55
In 2015, the global solar control glass market was estimated to have a value of $4,198.0 million, which is expected to grow at a CAGR of 9.2% during the forecast period (2016-2022). Some of the major factors driving the market are growing construction of residential and non-residential buildings, immense growth in the building-integrated photovoltaic (BIPV) market and increased government initiatives and tax benefits provided by governments across developing nations.
Solar control glass come with a coating that directly reflects a major portion of sunlight, reduces the heat entering into a building, hence, making interiors and indoor spaces brighter and cooler. With the increase in usage of glass in modern buildings have created a demand for solar control glass from residential and automotive markets.
By application, the commercial building segment dominated the global market in the historical period, and is likely to retain its dominance during the forecast period. Several applications where solar control glass has a prospect usage include glass walkways, skylights, conservatories, and atria. The growth of the BIPV market is likely to create immense opportunities for the solar control glass market. BIPV materials are heavily used in construction of new buildings as a source of electrical power, hence it is likely to create opportunities for the solar control glass market. BIPV materials are used in application such as horizontal and vertical surfaces, that help in generating solar energy in a large number of areas. BIPV is the fastest growing segment for the photovoltaics industry. Moreover, advancement in BIPV products such as insulated, colored, and transparent BIPV windows are expected to create immense opportunities for the market.
Subsidies by several governments, such as investment tax credit, FIT programs, and other tax benefit schemes are some of the key drivers of the market. Supportive government policies such as tax relief to construction manufacturers and introduction of 100% FDI for infrastructure development in India are likely to boost the market in developing nations like India. Moreover, in 2014, Development Bank for BRICS was established for promotion of infrastructure improvement which aims to provide funding for infrastructure to BRICS nations. Additionally, technological developments and increasing awareness of climatic changes, have led the manufacturers to develop technologically advanced solar control glass in order to tap untouched markets. Therefore, such factors are expected to serve as opportunities for the market in the coming years.
Untapped markets such as the developing nations in Asia Pacific serve as a major opportunity for the global solar control glass market. Although, the market has its base in Europe and United States, it is still in its early years. With the increase in construction activities in these countries, the demand for solar control glass is expected to increase, hence providing further growth opportunities.
Geographically, Europe dominated the solar control glass market in 2015. This can be attributed to the environmental policies regarding curbing of harmful emissions and increasing residential and commercial building construction.
Leading players of the global solar control glass market include Guardian Industries, Asahi Glass Co. Ltd., Nippon Sheet Glass Co. Ltd., Taiwan Glass Group, Saint-Gobain S.A., and Trakya Cam Sanayii A.Ş.
Key Questions Answered:
Get a bespoke market intelligence solution
Our dedication to providing the most-accurate market information has earned us verification by Dun & Bradstreet (D&B). We strive for quality checking of the highest level to enable data-driven decision making for you
Our insights into the minutest levels of the markets, including the latest trends and competitive landscape, give you all the answers you need to take your business to new heights
With 24/7 research support, we ensure that the wheels of your business never stop turning. Don’t let time stand in your way. Get all your queries answered with a simple phone call or email, as and when required
We take a cautious approach to protecting your personal and confidential information. Trust is the strongest bond that connects us and our clients, and trust we build by complying with all international and domestic data protection and privacy laws