PUBLISHER: The Business Research Company | PRODUCT CODE: 1425348
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425348
Construction Glass Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on construction glass market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for construction glass? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The construction glass market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Construction glass is a solid material produced by heating regular sand until it transforms into a liquid and is then cooled. It can exhibit characteristics such as clarity, translucency, or brittleness.
The primary categories of construction glass products are special glass and low-E glass. Special glass pertains to glass utilized in specialized technological and scientific applications. The chemical composition involves soda-lime, potash-lime, and potash-lead, manufactured through the float process, rolled, or sheet process. These types of glass find applications in both non-residential and residential constructions.
The construction glass market research report is one of a series of new reports from The Business Research Company that provides construction glass market statistics, including construction glass industry global market size, regional shares, competitors with a construction glass market share, detailed construction glass market segments, market trends and opportunities, and any further data you may need to thrive in the construction glass industry. This construction glass market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The construction glass market size has grown strongly in recent years. It will grow from $113.58 billion in 2023 to $123.19 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historical period can be ascribed to factors such as urbanization and infrastructure development, adherence to energy efficiency regulations, rising population coupled with increased housing demand, government initiatives promoting green buildings, heightened focus on safety and security requirements, prevailing global economic trends, and a surge in renovation and retrofit activities.
The construction glass market size is expected to see strong growth in the next few years. It will grow to $166.87 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period is expected to be driven by a sustained emphasis on sustainable construction practices, a focus on circular economy principles, increased demand for antibacterial glass solutions, the rise of prefabricated construction methods, ongoing development of smart cities and infrastructure, the emergence of carbon-neutral construction materials, and a growing demand for fire-resistant glass solutions. Major trends in the forecast period include a continued focus on green building and sustainability, advancements in smart glass technology, innovations in coatings, an increased adoption of laminated glass, addressing supply chain challenges, and evolving architectural trends.
The construction glass market anticipates significant growth driven by the upsurge in the building construction industry. The heightened demand for construction glasses is a direct result of increased building construction activities, including minor upgrades such as room additions and restroom repairs. Statistics Canada reported a noteworthy 2.7% increase in investment in building construction, reaching $20.9 billion in June 2022. In the same period, industrial construction investment saw a 1.7% growth, reaching $931 million, with Ontario contributing substantially to this net rise. Commercial investment also experienced a year-over-year increase of 1.5%, totaling $2.9 billion in 2022. This surge in building construction activities is a pivotal factor propelling the growth of the construction glass market.
The construction glass market is set to benefit from the growing development of green buildings. Green building practices involve constructing and operating buildings in an environmentally responsible and resource-efficient manner. This includes the use of sustainable materials, energy and water conservation, improved indoor air quality, and waste reduction. Construction glass plays a vital role in green buildings by offering energy-efficient solutions that contribute to reduced energy consumption and costs. Notably, between 2017 and 2021, over 36,835 projects totaling 4.63 billion gross square feet received LEED certification, according to the US Green Building Council. The trend continues with over 5,000 new projects certified in the first three quarters of 2022. The United States and Canada lead with the highest concentration of LEED-certified projects (74%), followed by East Asia (9%) and Europe (6%). The increasing focus on green building initiatives is a significant driver for the construction glass market.
A key trend gaining traction in the construction glass market is technological advancements. Major industry players are investing in developing products infused with advanced technologies to maintain their competitive edge. An illustrative example is NSG Purity, launched by Nippon Sheet Glass Co. Ltd. in June 2021. This product introduces new technology featuring antibacterial and antiviral-coated glass, addressing the heightened demand for antiviral materials in response to the global pandemic. NSG Purity stands out with its exclusive sol-gel technology.
Moreover, major companies in the construction glass market are strategically focusing on the development of technologically innovative products, such as low-emissivity (low-e) glass, to strengthen their market position. Low-e glass, coated with a microscopically thin layer of metal oxide, offers solar control and an aesthetically pleasing silver-blue appearance. In February 2021, Vitro Architectural Glass introduced Solarban R77, a new low-e glass with a magnetron-sputtered vacuum deposition coating. This product achieves a solar heat gain coefficient of 0.25 and visible light transmittance of 47% in a clear 1-inch insulating glass unit, aligning with increasingly stringent building code mandates.
In a strategic move to enhance its position, Installed Building Products, a prominent US-based insulation provider for residential and commercial builders, successfully acquired Denison Glass & Mirror Inc. for $100 million in November 2021. This acquisition underscores Installed Building Products' commitment to a robust growth strategy, maintaining a healthy pipeline of prospects across diverse locations, products, and end industries. Denison Glass & Mirror Inc. specializes in providing custom glass solutions for retail, office, multi-level residential, and public projects.
Major companies operating in the construction glass market report are AGC Inc., Guardian Industries, Nippon Sheet Glass Co. Ltd., AJJ Glass Ltd., CSG Holding Co. Ltd., Fuyao Glass Industry Group Co. Ltd., GreyGlass Ltd., GSC Glass Ltd., Luoyang Glass Company Limited, Nippon Electric Glass Co. Ltd., NSG Group Ltd., Pilkington, PPG Industries Inc., Schott AG, Vitro Architectural Glass, Vitrum Industries Ltd., Xinyi Glass Holdings Ltd., Corning Incorporated, Owens Corning, SYP Glass Group Co. Ltd., S.A. Bendheim Ltd., Central Glass Co. Ltd., Saint-Gobain SA, JE Berkowitz LP, Architectural Glass North America, Advanced Energy Industries Inc., Cardinal Glass Industries Inc., Oldcastle BuildingEnvelope, Euroglas GmbH, and Pilkington Group Limited.
Asia Pacific was the largest region in the construction glass market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the construction glass market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the construction glass market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The construction glass market consists of sales of flat glass, laminated glass, toughened glass, and other types. Values in this market are 'glass' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.