Coated Glass Market Size Slated to Reach USD 71,425 Million by 2030 Driven By Excessive Use of Solar Panels in Building Structures
Acumen Research and Consulting
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Acumen Research and Consulting
Acumen Research and Consulting recently published report titled “Coated Glass Market Size, Share, Analysis Report and Region Forecast, 2022 - 2030”
BEIJING, July 21, 2022 (GLOBE NEWSWIRE) -- The Global Coated Glass Market size accounted for USD 32,951 Million in 2021 and is expected to reach USD 71,425 Million by 2030 growing at a CAGR of 9.2% during the forecast period from 2022 to 2030.
In recent years, the coated glass market has expanded rapidly alongside the flat glass industry. Economic downturns such as COVID 19 have had an impact on many coated glass end-user industries, including construction, automotive, and solar glass. However, increasing adoption in the construction, automotive, renewable energy, and manufacturing sectors, as well as the global economic recovery, is driving demand for coated glass. In addition, laws and regulations aimed at lowering CO2 emissions and conservation and natural energy are propelling growth in the coated glass market. In addition, Existing building renovations in these areas constitute a significant opportunity for the coated glass market, especially for low-E glass, which seems to have acoustic insulation and passive solar design properties to enhance energy efficiency.
In modernist architecture, glass has become the most dominant material. Glasses can also be made to have a wide range of desirable characteristics by changing their configuration and manufacturing. Glazing changes the performance characteristics of glass, allowing it to be used for solar, sound isolation, thermal control, and safety glass. These glasses were subjected to specialized mechanical and chemical treatments in order to improve their resilience, durability, and surface coating for specific applications. Coated glass is used to reduce the exposure of the glass screen to solar radiation and other thermal waves, which bond with the crystal to form a long-lasting coating. Additionally, a coating on glass improves special introspection, scratch resistance, absorption, transmission, and corrosion resistance.
Coated glass is a type of advanced manufacturing glass that has been sprayed with thin coats of metallic nano-particles. In terms of solar energy, it modifies the attitudes and behaviors of the glass in the infrared and visible contexts. This material is only permitted to be used on the inside of the protective glass. A flat glass that has been coated with introspective, Low-E, High coat, soft coat, and anti-reflective coatings is known as coated glass. Growing demand for residential and commercial construction, as well as green infrastructure improvements, is driving the coated glass market. Moreover, Concerns about rapidly rising commercial air conditioning costs are expected to drive up demand for solar glass in the near future. The rise of the automotive industry as a highly specialized application segment may increase demand for coated glass even further.
The spread of COVID-19 presents a significant threat to the global economic system and materialism. To combat the virus's increasing prevalence, the government issued a compliance total ban, which tends to result in the suspension of manufacturing, the closure of all workplace environments, the limitation of public interactions, and the possible suspension of global trading and manufacturing activities. However, the global epidemic stifled the growth of the coated glass market. Many production companies were forced to temporarily halt operations in order to comply with government-mandated lockdowns. This usually leads to a halt in vehicle manufacturing and infrastructure activity, as well as a market downturn.
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Increased Global Solar Capacity Propels the Coated Glass Market
The global solar industry, particularly in infrastructural development, is expected to expand dramatically. Solar capabilities are expanding due to the depletion of clean energy resources, the regulatory environment, environmental issues, the decreasing cost of solar power systems, technological advancements, and rising electricity demand. The developments in the solar industry predict an increase in solar panel utilization, which may eventually affect the demand for coated glass. The glass on solar panels is critical because it acts as a barrier between the harsh outside elements and the photovoltaic solar cells. Coated solar panel glass is important because it has a direct impact on the operation and performance of photovoltaic systems.
Coated Glass Market Regional Overview
North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regional classification of the global coated glass market. The Asia-Pacific is expected to emerge the fastest and hold the biggest market share during the forecasted years. This expansion is linked to rising discretionary income, rapid economic growth, and advancement in the infrastructure and construction industries. Furthermore, demand for coated glass is expected to rise across the Asia-Pacific region, including auto manufacturing, fabrication, aviation, scientific research, and defensive effort. So because the Asia-Pacific region has the most glass product production plants, it is the dominant region. Furthermore, the production of fuel-efficient and compact vehicles is increasing, resulting in high demand for Coating Glasses. All of these factors are driving and dominating demand for coated glasses in the regional market.
Coated Glass Market Segmentation
The global coated glass market has been segmented by Acumen Research and Consulting based on type, and application. Based on the type, the market is divided into low-e glass, solar control panel, hard coated, and soft coated. Based on the application, the market separated into automotive, construction, aerospace & defense, sports & leisure, and others.
Some key players covered global in the coated glass industry are AGC Inc., Nippon Sheet Glass Co., Ltd, SCHOTT AG, China Glass Holding, Ltd, Taiwan Glass Ind. Corp, Fuyao Glass Industry Group Co., Ltd, Sisecam Group, CEVITAL GROUP, Saint-Gobain S.A, Euro glass, Central Glass Co. Ltd., and Guardian Industries.
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