Low-E Construction Glass market Growth, Size Analysis, Share Value, Segmentation, Global Forecast by 2029
The global Low-E construction glass market size is projected to experience dynamic growth in the forthcoming years owing to rapid development in the construction sector, observes Fortune Business Insights™ in its report, titled “Low-E Construction Glass Market, 2022- 2029”.
The demand for energy-efficient construction materials is escalating, as brick-and-mortar edifices are known to emit huge amounts of greenhouse gases. This need is likely to become even more exigent as construction activities gather momentum worldwide. Oxford Economics, for instance, predicts that the value of construction output over the next decade will reach USD 15.5 trillion. Low-E construction glass has emerged as one of the most popular and essential eco-friendly materials in the construction industry. This type of glass helps to improve the thermal performance of a building by absorbing and remitting the radiations efficiently using less energy. Further, the low-emissivity glass contains a transparent coating that can reflect long-wave infrared energy, which has led to increasing demand for this product in the building and construction sector, resulting in the growth of this market.
However, thermal radiation can obstruct radio and mobile signals, which is projected to restrict the growth of this market.
The COVID-19 pandemic and the subsequent lockdown restrictions across the world has stymied the growth of the building and construction industry. For example, the Royal Institute of Chartered Surveyors (RICS) estimates that the enormous losses experienced by builders in 2020 due to the coronavirus are likely to spill over into 2021, prolonging the recovery period. As a result, the low-E construction glass market growth has also been severely affected, fueled by the decreasing demand for this glass in the market.
On the basis of coating type, this market is divided into hard coating and soft coating. By glazing, the market is categorized into single glazing, double glazing, and triple glazing. Based on end-use, the market is classified into building & construction, automobile, and others. In terms of geography, the market is clubbed into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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This report contains a worm’s-eye view analysis of the market trends and drivers and offers an in-depth study of all individual market segments. Further, the report incorporates an unmatched assessment of the impediments stalling the market growth, as well as supplies tangible research into the regional dynamics and competitive landscape of the market.
Growing Adoption of Latest Building Technologies to Boost the Market
Prominent companies manufacturing low-E construction glass are concentrating on developing the latest technologies, such as dust repellent & water repellent solutions, in order to prevent the potential damages that may be caused due to ultraviolet radiations. This is one of the most crucial factors responsible for the growth of this market. Further, the low-E glass is suitable in all climatic conditions, such as cold and hot temperatures, and thus, there is an increasing demand for this glass in the construction of buildings, which is projected to drive the growth of this market. Moreover, low-emissivity glass can also prove instrumental in augmenting the energy-efficiency quotient in automobiles, as the low absorption of heat will result in less use of air-conditioners and thus, fewer emissions.
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Accelerating Industrialization to Propel the Asia Pacific Market Growth
Asia Pacific is projected to witness considerable growth in the low-E construction glass market share on account of the rising industrialization and an increasing number of residential and commercial complexes in this region. These trends are underpinned by the increasing spending capacity of consumers in this region.
The market in North America, on the other hand, is projected to expand rapidly market owing to the escalating demand for energy-efficient constructions to improve thermal control. Europe is anticipated to grow at a decent pace in this market on account of the rising demand for low-E construction glass from the industrial sector for process engineering.
Mutually Beneficial Collaborations to Intensify Competition
Key companies in this market are increasingly focusing on collaborations and acquisitions that are designed to benefit all concerned participants in such partnerships. This is emerging as the mainstay growth strategy adopted by companies involved in the making of low-E construction glass products to entrench their position in the market and widen their offerings.
April 2020: Asahi Glass, a Japanese company, announced its plans to expand its solar control low-E glass manufacturing capacity at its plant in Thailand by 50%.
List of Key Players Covered in the Low-E Construction Glass Market Report:
- Asahi Glass
- Nippon Sheet Glass
- PPG Industries
- Taiwan Glass Industries
- Corning Incorporated
- CSG Holdings
- Xinyi Glass Holdings
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