- The growing demand of the coated glass in the construction sector and the increased application in Architectural, infrastructure will boost the market growth
-Market Size - USD 25.51 Billion in 2019, Market growth- CAGR of 8.3%
NEW YORK, July 20, 2020 /PRNewswire/ -- The global coated glass market size is expected to reach USD 48.17 Billion by 2027, registering a revenue-based CAGR of 8.3% over the forecast period, according to a new report by Report and Data. The market is mainly driven by the growth of the building and construction sector and the rising emphasis on green buildings across the globe.
As per the Glass Association of North America, glass is coated to meet explicit prerequisites, for instance, advancement in thermal and solar performance, advancement in the visibility, and to change the surface features without modifying the structure. The products offer to improve energy productivity in contrast with normal variation of the product. It helps in improving protection, sunlight-based control, and hydrophobic properties. The product is utilized for both practical and ornamental purposes.
The soft coated segment dominated the sector in 2019. The products are characterized by increasingly prominent light transmission and higher optical transparency when contrasted with hard-coated items. These previously mentioned properties assume a key job for the prevailing offer held by this section as far as volume in the worldwide market.
Regarding application, the engineering fragment dominated the industry in 2019. The product is utilized in business just as private structures to keep the inside cool in a hot atmosphere by mirroring the outside warmth while permitting the most extreme transmission of noticeable light. Moreover, the item is utilized in colder atmospheres to keep within a structure warm by re-emanating the warmth originating from inside.
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The Asia Pacific dominated the global industry in 2019. China held the highest share in the region while developing economies, for instance, India and nations in Southeast Asia, are assessed to observe worthwhile development over the coming years. The advancement of the building and construction segment is attributed to quick industrialization in the area and is relied upon to assume a significant role in driving industrial growth.
Impact of COVID19
COVID-19 has impacted the market negatively. The weakened consumer demand for many products due to the imposition of lockdown and social restrictions will have a negative impact on the products of this industry as well, but for a shorter duration of time. The business has been slower for both construction developers as well as automobile manufacturers, but, working on the assumption that the government will implement the appropriate quantitative easing measures to boost the development of these industries, the impact will likely be short-term instead of resulting in a crisis. Due to the current severe pandemic situation globally, the outlook is not clear yet. The construction supply chain is highly impacted, generating project slippage and extra costs. Enhanced focus on worker safety and increased cost pressure could accelerate the move to offsite construction methods. Thus, due to these uncertain situations, this industry will be slower for a brief period but is expected to gain momentum by the end of 2021.
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Future key findings of the report
- The coating is applied during glass production. The coating is mixed into the glass at 1200°C. The benefit of the product is its durability. It can be handled like a standard square product. It is then ready to be cut, toughened, heat-strengthened, laminated as well as bent. This product is called a hard coat reflective.
- Nanocoating, when applied on sun-based board, makes it water-repellant, self-cleaning, and antireflective. Rising significance over the globe in regard to the use of sun oriented boards as an elective wellspring of energy is probably going to profit industrial development in the long term.
- Soft-coated low emissivity segment has observed sizable penetration in the U.S. For instance, Mercedes Benz retail area in Pompano Beach, Florida, which is one of the world's largest dealerships, consists of AGC's triple silver Low-E coated glass.
- In terms of volume, Asia Pacific dominated this industry with a portion of 38.5% in 2019. This prevailing offer is credited to the development of the structure and development segment in the district.
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Product Type (Revenue, USD Million; 2017-2027 and Volume, Kilo Tons; 2017-2027)
- Hard coated
- Soft coated
- Low-E Glass
- Solar control
Application Outlook (Revenue, USD Million; 2017-2027 and Volume, Kilo Tons; 2017-2027)
- Facades
- Window
- Partition
- Others
End Use Industry Outlook (Revenue, USD Million; 2017-2027 and Volume, Kilo Tons; 2017-2027)
- Construction
- Automobile
- Sports and leisure
- Aerospace & defense
Regional Outlook (Revenue, USD Million; 2017-2027 and Volume, Kilo Tons; 2017-2027)
- North America
- U.S.
- Europe
- Germany
- UK
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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