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). major factors driving the market are growing construction of residential and non-residential buildings, and immense growth in the building-integrated photovoltaic (BIPV) market. New technological advancements such as product innovation, rapid transformation of coating technology have allowed engineers and architects to improvise properties of functional glass with radiation and light. In the modern glass technology field, Solar control glass is one of the most vital innovation. These glasses have a coating which reduces the heat to enter into a building, hence plays an important role in creation of sustainable green environment and building design.
By application, the commercial building segment accounted for the largest share in the global market in 2015. Solar control glasses have the ability to keep interiors of building cool by prevention of solar heat. These glasses can be used in building thereby, reducing the need for ACs, electric coolers and window blinds. Moreover, commercial building owners are likely to invest nearly $960 billion globally between 2015 and 2023, in order to create a greener environment. Hence, the commercial building segment is likely to retain its dominance in the global solar control glass market during the forecast period.
Geographically, Asia-Pacific is expected to witness the fastest growth of solar control glass, throughout the forecast period owing to the rapidly growing construction industry in the region. Growing BIPV market and tax benefit schemes are expected to support the market growth in the region. Moreover, increase in adoption of solar control glass have led to a huge amount of investments from China and Japan. Hence, this is expected to fuel the market growth in Asia-Pacific during the coming years.
As per EU, usage of solar control glasses in non-residential and residential buildings can help in saving up to 15 million tons of carbon dioxide annually. In addition, new technologies can help in energy conservation since there is a load reduction on air conditioning systems. Hence, such advancements are expected to benefit the growth of the global market.
Major 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.
The information and data in the publication “Global Solar Control Glass Market Size, Share, Development, Growth and Demand Forecast to 2022”, represents the research and analysis of data from various primary and secondary sources. An amalgamation of bottom-up and top-down approach has been used to calculate the market size. P&S Intelligence analysts and consultants interacted with leading companies of the concerned domain to substantiate every value of data presented in the report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed, online and offline research.
GLOBAL SOLAR CONTROL GLASS MARKET SEGMENTATION