Coated Flat Glass Global Markets to Reach $38.2 Billion by 2023
Increasing Demand for Buildings with Efficient Solar Systems Drives Market Growth
WELLESLEY, Mass., February 5, 2019 (Newswire.com) - The global market for coated flat glass has been growing at a significant pace, in sync with the flat glass industry, for the past five years. According to the BCC Research report “Coated Flat Glass: Technologies and Global Markets,” the market continues to grow with rising demand from North America, Europe and developing countries.
Global economic recovery and increasing construction activities across the globe, rising personal income, increasing vehicle sales and increasing demand for solar glass are driving the market. The market is expected to grow at a compound annual growth rate (CAGR) of 5.8%, reaching over $38.2 billion globally by 2023.
Growth in the coated flat glass market is further supported by end-user industries such as construction, automotive, solar, and others. The demand for flat glass in the architectural sector has also increased due to solar control efficiency and the excellent insulation properties that coated flat glass provides. In addition, fire resistance, abrasion and impact-resistance, weather and natural disaster resistance and high-quality manufacturing will sustain the demand for flat glass in the architectural sector over the next five years.
Major industry leaders mentioned in this report include Asahi Glass Co. Ltd., Eastman, Lord Corp., PPG Industries and Saint-Gobain.
Research Highlights
- The growing markets for commercial buildings, residential buildings and vehicles in Europe, North America and Asia-Pacific are expected to drive the global coated flat glass market during the forecast period.
- Among all the applications, commercial and residential buildings account for more than 92% share of the global coated flat glass market in 2017. This share is expected to remain flat through 2023.
- During production, flat glass manufacturers are currently utilizing pyrolytic, magnetron sputtering and sol-gel technologies.
“The demand is increasing for high performance and efficient coated flat glass to reduce energy consumption and CO2 emissions,” said analyst Aneesh Kumar. “Due to stricter environmental regulations and building codes, the coated flat glass market will grow, mainly for sputtering coated and pyrolytic coated glass.”
Editors/reporters requesting analyst interviews should contact Eric Surber at press@bccresearch.com.
Source: BCC Research
