CHICAGO, June 13, 2024 /PRNewswire/ -- The report "Construction Glass Market by Type (Low-E Glass, Special Glass), Manufacturing Process (Float, Rolled/Sheet), Chemical Composition (Soda-Lime, Potash-Lime, Potash-Lead), Application (Residential, Commercial), and Region - Global Forecast to 2029", is estimated at USD 112.0 billion in 2024 and is projected to reach USD 144.3 billion by 2029, at a CAGR of 5.2% from 2024 to 2029. The key segments in the construction industry include residential, commercial, and others. Others include construction of educational institutes, stadiums, airports, bridges, and others. The growth in the residential segment is high due to increase in population, urbanization, increase in the number of nuclear families, and the economic condition. The growth in the commercial segment can be attributed to factors such as growth in economy, increased need for IT industries, demand for retail, and increase in foreign trade resulting in the demand for warehousing, and others. This is fuelling the demand for construction glass from various applications of construction industry.
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360 - Tables
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The special glass type segment accounted for the largest market share in 2023, in terms of value.
In 2023, special glass type segment dominated the global construction glass market, in terms of value. Glasses with unique characteristics such as low heat transmission, toughness, unbreakable, scratch-resistant, low noise transmission are termed as special glasses. These glasses are a result of innovations in the construction glass industry which have varied application. These glasses include double glazing glass which are basically used in residential and commercial windows and building exterior glazing.
Float glass manufacturing process accounted for the largest market share, in terms of volume in 2023.
Global construction glass market has been segmented based on the manufacturing processes. In 2023, float glass process dominated the market in terms of volume and value by contributing to the highest market share. The float glass process manufactures 100% flat glass. The flat glass produced is further processed as per the requirement. This glass is produced globally and is used mostly in the construction industry. The demand for flat glass varies as per the economic conditions of the construction sector.
Soda-lime chemical composition segment to remain the largest chemical composition type in terms of volume during the forecast period.
In 2023, soda-lime chemical composition segment accounted for the largest market share of global construction glass market, in terms of volume. Soda-lime silicate is the flat glass used in the construction industry, obtained by melting the mixture at high temperature. The soda lime glass is the most widely used glass. The benefits of using soda-lime glass are that it is inexpensive, easy to melt & shape, and recyclable. It has certain limitations such as poor durability, low chemical resistance, and poor thermal shock resistance.
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Commercial application segment to remain the largest end-use application in terms of volume during the forecast period.
In 2023, commercial application segment accounted for the largest market share of global construction glass market, in terms of value. Commercial buildings include offices, infrastructure, and others. These buildings account for major emissions and energy consumption. The need to reduce these emissions and consumption is driving the market for construction glass in commercial buildings. There is an increase in awareness on the part of builders regarding the benefits they could gain from energy-efficient buildings.
Asia Pacific region accounted for the largest share in 2023, in terms of volume.
In 2023, Asia Pacific region accounted for the highest market share, in terms of volume in global construction glass market. This market in the Asia Pacific region is driven by increasing competition, large number of manufacturing facilities, technological advancements, and government regulations. The Asia Pacific region is estimated to be the dominating region during forecasted years. Increasing purchasing power, along with rising urbanization, and growing population in the region are some of the kay factors driving the growth of construction industry and thereby demand for construction glass.
Key Players:
Prominent companies in the construction glass market include AGC Inc. (Japan), NSG Group (Japan), Saint-Gobain (France), Guardian Industries (US), Sisecam (Turkey), SCHOTT AG (Germany), Central Glass Co., Ltd. (Japan), Vitro (Mexico), China Glass Holdings Limited (China), Corning Incorporated (US) and Xinyi Glass Holdings Limited (China).
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