Coated Glass Market Size

Coated Glass Market Size

Coated Glass Market size was over USD 14 billion in 2016 and industry expects consumption above 19.5 kilo tons by 2024. Change in lifestyles of consumers along with rise in consumption of aesthetically appealing and luxury cars should further surge the product demand.

Modern infrastructure with better aesthetics in construction projects along with safety and security in vehicles has surged coated glass market share. Rapid urbanization rate owing to favorable government schemes in China, Singapore, India, South Korea, and Brazil with increase in automotive production base has fueled product demand. Better safety and lightweight properties of the product in automotive sector has further surged industry growth.

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Technological advancement in transportation sector regarding safety and high fuel efficiency, has positively influenced the manufacturers to invest in R&D and expand & improve the product portfolio, thereby fueling the coated glass market growth. Over 3 million units of commercial vehicles were produced in China in 2016.
 

Increased product usage in automotive windshields will stimulate coated glass industry size. These products help in reflecting unwanted IR and UV radiation, and offers safety, thermal shock resistance and durable properties, thus propelling the coated glass market demand. Globally, over 70 million units of passenger cars were sold in 2016, in which Europe accounted for over 25% of the sales.
 

Growing product demand in energy efficient buildings along with rise in construction spending are driving the coated glass market. Increasing consumer safety concerns and strict environmental regulations regarding carbon emissions will stimulate industry growth. These products have the capability to cut down CO2 emissions and save up to 25% of the energy in the buildings, thus resulting into increased product demand. According to EU Commission, greater usage of these glasses in residential, commercial and industrial buildings in Europe could save approximately 15 to 80 million tons of CO2 annually by 2020.
 

Silica, soda ash and natural gas are the key raw materials used in coated glass manufacturing process. High infrastructural and transportation cost along with supply demand gap in availability of raw materials will hinder the coated glass market price trend. Increased usage of sustainable energy resources along with strict norms regarding environmental parameters should offer growth opportunities.