Zion Market Research

Construction Glass Market Is Anticipated to Grow $138.3 Billion by 2023

Global Construction Glass Market is set for a Rapid Growth and is Expected to Reach Around USD 138.3 Billion by 2023

 

Sarasota, FL -- (SBWIRE) -- 08/07/2018 -- Zion Market Research has published a new report titled "Construction Glass Market by Type (Insulated glaze units, Glass wool, Glass blocks, Toughened glass, Tinted glass, Chromatic glass, Extra clean glass, Laminated glass, Shatterproof glass, Float glass) by Structure (Roof, Partitions & walls, Staircase, Beams, Floors) by Manufacturing Process (Float, Rolled/Sheet) By Chemical Composition (Soda-lime, Potash-lime, Potash-lead) for Residential and Non-residential applications by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2023.''According to the report, global construction glass market was valued at around USD 91.7 Billion in 2017 and is expected to reach approximately USD 138.3 Billion in 2023, growing at a CAGR of slightly above 7.0% between 2017 and 2023.

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The modern architectural design is strongly influenced by glass structures. Creative usage of atria, roof lights, doors and windows and other applications are making houses and buildings energy efficient, inviting, airy and bright. Major applications of glasses for windows and facades in buildings will boost the product demand. Trending product associated with developed technologies in residential and commercial buildings apart from conventional window panes is gaining traction in construction glass market. Benefits offered by building facades and high performing windows such as sustainability, safety & security, style, well-being, comfort, and light is fostering the product demand. Architects are designing the structures with glass to enable control on sound transmission, light, and heat. Further, furniture and interior decoration also find the application of glass that will preliminary drive the market.

The glass is acting as an attractive alternative to many other building materials that includes wood, polycarbonate, and brick. Wide usage of the product allows natural light to enter the house that makes the atmosphere more comfortable and pleasant. High tech glass options of the current era are ensuring attractiveness coupled with environmental sustainability, safety, and security. Glass technology in large commercial buildings promises energy efficient structures along with climate and environment protection. The product can maximize impression of space and light, color along with dynamic interior designing of the room. Modern glass technology has enhanced its strength and increased its application spectrum from decorative to structural and functional roles.

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Global construction glass market is bifurcated on the basis of the type as insulated glaze units, glass wool, Glass blocks, Toughened glass, Tinted glass, Chromatic glass, Extra clean glass, Laminated glass, Shatterproof glass, Float glass. Float glass will account for a significant share in the industry owing to its excellent chemical inertness, higher light transmission degree, ability to be produced in a wide range of colors and opacity. The product has application in residential and non-residential sectors, wherein non-residential is prevalent due to increase in green building activities and government regulations pertaining to energy-efficient buildings. Different structures made up of glass in buildings are roof, partitions & walls, staircase, beams and floors. Walls contribute majorly to revenue generation, as it provides natural sunlight with comfort and delightful atmosphere in the room. Construction glasses are composed of chemicals that include soda-lime, potash-lime, and potash-lead.

The Asia Pacific is projected to account for the largest share in global construction glass market during the forecast period. Its share is justified owing to rapid industrialization and government mandates for energy-efficient infrastructural developments. Escalating skyscrapers in Dubai and other Gulf countries are making the region a significant contributor in the global market. Rising tourism has resulted in attractive glass buildings constructions that can regulate ultra violate rays intensity in the structures and provide comfort to the residents.

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Key strategies being adopted by the producers are product expansion, partnerships, mergers & acquisitions, new product launches etc. Prominent players in the industry include Saint-Gobain S.A., PPG Industries, Guardian Industries and Asahi Glass. Other noticeable manufacturers are Sisecam Group, Schott AG, China Glass Holdings Limited, Central Glass Co., Ltd, and Nippon Sheet Glass Co., Ltd.