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 the forecast period (2016–2022). Some of the major factors boosting the market are advancement in glass manufacturing technologies, increasing need for energy conservation, and rising need for eco-friendly green buildings.
Construction glass is lucrative alternative to traditional building materials, such as polycarbonates, wood, and bricks. Since construction glass is a translucent glazing material, it is largely preferred for applications in windows, external walls, and glass doors. It has suitable physical and chemical properties that provide protection from harmful solar radiation, control temperature, and offer high resistance to electricity and chemicals, and the properties are least affected by environmental changes.
On the basis of application, the commercial category dominated the construction glass market in 2015, and it is also expected to witness faster growth during the forecast period. With the increasing population, the demand for commercial facilities, such as offices, factories, and malls, is likely to increase, thus providing a boost to the commercial construction sector, globally. The growing commercial construction sector is expected to increase the demand for construction glasses, as these are widely used in the commercial facilities.
Geographically, APAC dominated the global construction glass market in 2015, with 60.7% share. The region is expected to witness the fastest growth during the forecast period, owing to the rapidly growing industrialization and increasing construction activities in emerging economies, such as Malaysia, India, China, and Thailand.
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The demand for construction glass in Europe and North America is projected to rise, and the market in these regions is expected to witness positive growth in the coming years, owing to its physical and chemical properties.
CONSTRUCTION GLASS MARKET SEGMENTATION
By Chemical Composition
By Manufacturing Process