Global Solar Control Glass Market Report, published by Variant Market Research, forecast that the global market is expected to reach $9,288 million by 2024 from $4,526 million in 2016; growing at a CAGR of 9.4% from 2016 to 2024. By geography, Asia-Pacific and Europe are expected to grow at a CAGR of 10.9% and 9.3%, respectively, during the forecast period.
Solar Control Glass Market (By Application: Commercial Buildings, Residential Buildings, Automotive, and Other Applications; By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015 – 2024
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Solar control glass has many applications such as residential buildings, commercial buildings, automotive, and others. With rapidly growing construction projects in regions like Asia Pacific, solar control glass market is projected to grow during the forecast period.
Rising construction of residential and commercial buildings in emerging nations to drive the growth of the solar control glass market
The factors supporting growth of the global solar control glass market are huge growth potential in automotive industry, rising construction of residential and commercial buildings in emerging nations, and growing concerns about CO2 releases from ACs. However, price instability of raw materials may act as a restraint for the growth of the market. Moreover, high potential growth in developing economies and increasing government initiativeswould provide several growth opportunities for the market in the future years.
Application, and geography are the major segments considered in the global solar control glass market. By, application, the market is bifurcated into commercial buildings, residential buildings, automotive, and other applications. By geography, the global solar control glass market has been segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW).
Commercial buildings accounted for the largest market share in the application segment
Global Solar Control Glass Market, by Application
Commercial buildings accounted for the largest market share in 2016, in the application segment, and are expected to continue its dominance during the forecast period 2016 – 2024, owing to increasing awareness about CO2 emissions from air conditioners which give rise to increased usage of solar control glass in many construction projects.
Europe dominated the global market with highest market share over the forecast period
GLOBAL SOLAR CONTROL GLASS MARKET SHARE BY GEOGRAPHY, 2016 (%)
Europe dominated the global solar control glass market with largest market share of 46.7% in 2016, and expected to continue its dominance during the forecasted period, owing to the obligation of European Union to save about 300 million tons of CO2 annually from commercial and residential buildings by 2020, which is anticipated to have a positive impact on the demand for solar control glass in this region.
The major players operating in the market are Nippon Sheet Glass Co., Ltd., AGC Glass Europe, Saint Gobain, Guardian Glass Company, PPG Industries Inc., CSG Holding Limited, Asahi India Glass Ltd., Arcon Flachglas-Veredlung GmbH & Co. KG, Cardinal Glass Industries, Inc., and Euroglas GmbH, among others.