The global coated glass market size is expected to reach USD 57.3 billion by 2027, registering a revenue-based CAGR of 8.8% over the forecast period, according to a new report by Grand View Research, Inc. The market is mainly driven by the growth of the building and construction sector and rising emphasis on green buildings across the globe.
According to Glass Association of North America, a glass is coated in order to meet specific requirements such as improvement in visibility, improvement in solar and thermal performance, and to change surface characteristics without altering the composition. The product offers enhanced energy efficiency in comparison to usual glass. It helps in improving insulation, solar control, anti-reflection, and hydrophobic properties. The product is used for both functional and decorative purposes.
The soft coated glass dominated the market in 2019. The product is characterized by more visible light transmission and higher optical clarity as compared to hard coated products. These aforementioned properties play a key role for the dominant share held by this segment in terms of volume in the global market.
In terms of application, the architecture segment dominated the market in 2019. The product is used in commercial as well as residential buildings to keep the indoors cool in hot climate by reflecting the outside heat while allowing maximum transmission of visible light. Furthermore, the product is used in colder climates to keep the inside of a building warm by re-radiating the heat coming from inside.
Asia Pacific dominated the global coated glass market in 2019. China held the largest share in the region, while emerging economies such as India and countries in Southeast Asia are estimated to witness lucrative growth over the coming years. The development of the building and construction sector is attributed to rapid industrialization in the region and is expected to play a major role in driving market growth.
The global market is highly competitive owing to the presence of several established players such as Saint-Gobain, AGC, Inc.; Vitro; and Nippon Sheet Glass Co. Recent trends in the industry depict primary glass manufacturers targeting their investments in value-added products such as coated glass.
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https://www.grandviewresearch.com/industry-analysis/coated-glass-market
Further key findings from the report suggest:
- In terms of volume, Asia Pacific dominated the coated glass market with a share of 38.5% in 2019. This dominant share is attributed to the growth of the building and construction sector in the region
- The architectural segment is estimated to witness the highest CAGR of 9.0% in terms of revenue from 2020 to 2027, owing to increasing penetration of coated glass in facades and windows of buildings to minimize air conditioning and heating costs
- The automotive segment is projected to register a CAGR of 3.4% in terms of volume on account of growing consumer preference for energy-saving automotive glass
- Soft coated glass constituted the highest revenue share of about 68.0% in 2019 owing to the superior performance exhibited by the product.
Grand View Research has segmented the global coated glass market on the basis of coating, application, and region:
Coated Glass Coating Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- Hard
- Soft
Coated Glass Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- Architectural
- Automotive
- Optical
- Others
Coated Glass Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- North America
- US.
- Europe
- Germany
- UK.
- France
- Russia
- Asia Pacific
- China
- India
- Japan
- Central & South America
- Brazil
- Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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