Glass is a non-crystalline translucent material has found usage in the construction industry for centuries. Excellent physical and chemical qualities of glass like its U value, insulation properties, and workability into any shape, strength, light transmittance and recyclability make it a preferred material for construction purposes, compared to conventional building materials like brick or wood. Construction is one of the major end use industries of glass materials. The market for construction glass has witnessed growth in recent years owing to a rising construction industry and inclination towards energy efficient infrastructure worldwide. Glass is used in windows, canopies, roofs, walls or partitions, staircases and even floors of buildings both residential and commercial. Glasses of different chemical compositions are used in construction of buildings like soda lime, potash lime, potash lead, common and special glass. There are a variety of special glasses available, like foam, fiber, toughened and chromatic, providing a lot of benefits to buildings like heat insulation, UV protection, noise control, aesthetic appearance etc.
Key trends of construction glass market are: demand for value added products is growing for basic glass, investment and capacity expansion and decorative glasses with digital print technology. Growing use in packaging industry for better packaging quality, real estate sector, production of solar products and automobile sector enhances the market. However, rise in price of soda ash, growing alternatives of glass, competition from Chinese products and reusable nature of glass are responsible for the decline in global construction glass market.
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Global Construction Glass Market key Players are ACG, Saint Gobain, Asahi Glass Co, Agnora, Guardian Glass
Market Drivers and Challenges
Growth in the construction industry and rising focus on safe, sustainable and energy efficient buildings are the key reasons driving the growth of global construction glass market. Benefits of this glass in terms of thermal insulation or heat resistance, temperature control, strength, fire protection and sound insulation, among others, are the key reasons for their rising popularity in recent times. Rising urbanization, complemented by increased purchasing power has leaded to increased spending on construction activities.
Rising popularity of green buildings further bolsters the demand for construction glass. Economic viability of glass, combined with lightweight and impressive strength, also boosts demand in the market. Technological developments leading to even better properties for construction glass which help the global market to sustain the growth over the forecast period. However, high cost of raw materials and high competition in the market reduces profit margins of manufacturers and act as hindrances to market growth.
Market Size and Forecast
The global construction glass market is expected to grow at a CAGR of 7% over the forecast period and reach a valuation of USD 120 Billion by 2024. In 2007, estimated world glass production was total of 115 million tones, with Europe representing 30-35% of world production.
The commercial sector accounts the major market share than the residential segment, owing to greater demand of construction glass in commercial buildings and rapid industrial and commercial infrastructure development. Geographically, Asia Pacific holds the largest market for construction glass in terms of revenue. This can be attributed to the rapid urbanization in the region leading to rampant infrastructure development, giving a major spur to demand for construction glass.
Construction Glass Market Segmentation by Geography
o North America (U.S., Canada)
o Asia-Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and ROAP)
o Europe (The UK, Germany, France, Italy, Spain, , Russia, Poland, Sweden, and ROE)
o Latin America (Brazil, Mexico and ROLA)
o Middle East and Africa (GCC, North-Africa, South Africa and ROMEA)
o Rest of the World
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