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 stated by the report of Fior Markets, the global coated glass market expected to progress from USD 16.17 billion in 2017 to USD 25.24 billion in 2025. The market is anticipated to register a CAGR of 5.72% for the forecast period from 2018-2025. Asia pacific region, with the highest market share of 31.67% by the total volume of the global coated glass market, became the leader of the market. Now, due to huge potential demand from massive construction activities and proliferation solar power generation modules, the region is expected to again lead the market way.
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Chief competitors operating in 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. Demand from the solar energy sector segment for coated glass in the world has also given fillip to the increased world over production of coated glass. In 2017, Gujarat Borosil launched world’s first 2mm tempered glass production process. As compared to the current world standard of 3.2 mm, the 2 mm solar glass is lighter, absorbs less solar energy, and allows higher irradiance to reach the solar cell. According to the company, the features of 2 mm solar glass this will help in harnessing solar energy more efficiently than done ever before.
The production process segment includes a hard coat and soft coat. Hard coat production segment dominated the market for coated glass because it boasts excellent anti-abrasion property and high impact resistance and relatively easier manufacturing process. The segment registered 68.34% of total revenue in 2017. Product segment consists of Low E glass and Heat reflective glass. Factors such as increasing demand from the automotive industry, Solar Power industry and rising adoption of green construction practices are expected to become key drivers for the demand for low E glass to a CAGR 6.17% over the forecast period. Heat reflective glass segment can achieve significant demand from a tropical region, specifically in Middle East and Asia Pacific as it features reflecting solar heat property without affecting the light passing through the glass. The application segment is classified 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 restrained demand for low E glass and Heat reflective glass in the construction sector worldwide. Automotive sector makes use of coated glass in windshield application owing to it’s scratch and impact resistance properties. The projections states that electronics and optical segments would see the highest growth rate during the forecast period due to its anti-glare and anti-reflective properties.
The coated glass has low emissivity and heat reflective properties, hence its usage for construction activities, especially for housing and office spaces has increased. The demand for coated glass has also been increased as the world is focused on making the buildings more green and energy efficient.
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