Global Coated Glass Market by Production Process (Hard Coat, Soft Coat), Product (Low E, Heat Reflective), Application (Architectural, Automotive, Optical, Electronics, Aerospace and defense), Region and Forecast 2018-2025.
As per the report published by Fior Markets, The Global Coated Glass Market is expected to grow from USD 16.17 billion in 2017 to USD 25.24 billion in 2025 at a CAGR of 5.72% for the forecast period from 2018-2025. Asia pacific region led the market with highest market share of 31.67% by total volume of global coated glass market and is expected to continue to do so on back of huge potential demand from massive construction activities and proliferation solar power generation modules.
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Prominent companies of the global coated glass market include Saint Gobain, Guardian Industries, Corning Inc, Interfloat Corporation, Borosil Glass Works, Hecker Glastechnik GmbH, Xinyi Solar Holdings, Nippon Sheet Glass, Sisecam Flat glass and AGC Solar among others. Worldwide demand from solar energy sector segment for coated glass has also given fillip to increased world over production of coated glass. For instance Gujarat Borosil in 2017 inaugurated world’s first 2mm tempered glass production process. The 2 mm solar glass is lighter than the current world standard of 3.2 mm, absorbs less solar energy while allowing higher irradiance to reach the solar cell. This will help in harnessing the solar energy more efficiently than done ever before, according to company.
The production process segment is classified into hard coat and soft coat. Because of its excellent anti-abrasion property and high impact resistance and relatively easier manufacturing process, hard coat production segment dominated the market for coated glass with 68.34% of total revenue in 2017. Product segment consists of Low E glass and Heat reflective glass. Ever increasing demand from the automotive industry, Solar Power industry and rising adoption of green construction practices is expected to propel demand for low E glass to a CAGR 6.17% over forecast period. Heat reflective glass segment is expected to achieve significant demand from tropical region, specifically in Middle East and Asia Pacific due to its property for reflecting solar heat without affecting the light passing through the glass. The application segment is divided into architectural, automotive, optical, electronics, aerospace and defense. Architectural segment dominates the market share with 58.94% of total revenues in 2017. This trend is expected to continue on account of huge pent up demand for low E glass and Heat reflective glass in the construction sector worldwide. Automotive sector utilizes coated glass in windshield application owing to its scratch and impact resistance properties. Electronics and Optical segments are projected to report highest growth rate during forecast period due to its anti-glare and anti-reflective properties.
The low emissivity and heat reflective properties of coated glass have propelled its use for construction activities, especially for housing and office spaces. There has been global push for making the buildings more green and energy efficient thus increasing the demand for coated glass.
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