Construction glass market is expected to garner $121,877 Million by 2022, registering a CAGR of 7.1% during the period 2016-2022.

PORTLAND, OREGON , UNITED STATES, January 4, 2021 /EINPresswire.com/ -- Global construction glass market is expected to garner $121,877 Million by 2022, registering a CAGR of 7.1% during the period 2016-2022. Asia-Pacific generated the highest revenue in 2015, and is expected to maintain its lead, followed by Europe and North America.

Construction glass possesses numerous physical and chemical properties such as electric resistance, chemical resistance, and flexibility in molding, and is unaffected to changes in climatic conditions, thus, fueling the growth of the construction glass market. Increase in adoption of energy-saving products with new infrastructural and construction projects in the developed and developing regions has supplemented the market growth of low-e glass market. In addition, construction glass helps to increase the influx of natural light in the building and meets the need of energy-efficient temperature management. Low-emissivity property of glass is used in advanced glazing solutions to significantly reduce the need of heating and cooling in the buildings, consequently reducing energy consumption and associated CO2 emissions. However, high costs associated with raw materials and economic downturn restrain the market growth.

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Major types of construction glass products included in the report are low-e glass and special glass. Special glass constituted the highest market share over 69% in 2015, and is estimated to reach $83,093 million by 2022, growing at a CAGR of 6.8% from 2016 to 2022. This is attributed to enhanced features such as safety of home from external environmental hazards such as protection from UV rays and noise pollution. Low-e glass is estimated to reach $38,784 million by 2022, registering a CAGR of 7.8%.

The global construction glass market is categorized based on chemical composition into soda-lime glass, potash-lime glass, and potash-lead glass. Soda-lime glass is the most prevalent type of glass that is used in residential and nonresidential buildings. The segment accounted the highest revenue in the construction glass market constituting around $68,323 million in 2015. However, potash-lead glass segment is expected to dominate the market during the forecast period owing to high refractive index and increased adoption in the manufacturing of artificial gems, electric bulbs, lenses, and prisms.

Asia-Pacific accounted for the maximum market share in 2015, and is expected to maintain its lead throughout the forecast period. This is attributed to stringent government regulations related to energy efficiency and infrastructural developments. Moreover, increased adoption of construction glass in developing countries such as India, Thailand, and Malaysia supplemented the market growth. The special glass segment is projected to dominate the global construction glass industry throughout the analysis period, owing to the growing desire for convenience, comfort, and aesthetics and increased focus on energy conservation & safety. LAMEA is expected to witness significant growth in the construction glass industry during the forecast period, owing to increase in industrial and infrastructural activity, especially in Brazil.

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Key Findings of the Construction Glass Market:

In 2015, special glass accounted for the maximum revenue, and is projected to grow at a CAGR of 6.8% during the forecast period.

Nonresidential application segment is expected to grow at a highest CAGR of 7.4% during the forecast period.

China is the major shareholder in the Asia-Pacific construction glass market, accounting for around 44% share in 2015.

In 2015, soda-lime glass accounted for the highest market share, accounting for over 89%, and is projected to grow at a CAGR of 7.0% during the forecast period.

U.S. possessed the largest customer base in North America construction glass market in 2015, and is anticipated to dominate the market throughout the forecast period.

The key players profiled in the global construction glass industry have focused to expand their business operations in the emerging countries by adopting various strategies including R&D, product launch, and acquisition & merger to strengthen their position in the market. For example, Gulf Construction Company launched glass toughening film, for protection against violent weather, accidental glass shattering, and glass-related injuries. The major players profiled in this report include Compagnie de Saint-Gobain S.A., Asahi Glass Co. Ltd., PPG Industries, Inc., Nippon Sheet Glass Co. Ltd., Xinyl Glass Holdings Limited., Central Glass Co., Ltd., China Glass Holdings Limited, Guardian Industries Corp., Schott AG, and Sisecam Group.

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