As per the report published by Fior Markets, the global solar control glass market is expected to grow from USD 5.26 Billion in 2018 to USD 10.22 Billion by 2026 at a CAGR of 9.61% during the forecast period 2019-2026. Increasing adoption of solar control glass, growing use of solar control glasses in commercial and residential buildings, and stringent regulations towards fighting climatic changes are the factors that led to the regional growth of Europe in the global solar control glass market.
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Solar Control Glass Market by Type (Tempered Glass, Laminated Glass, Float Glass, Heat Strengthened Glass, Others), Nature, Coating Method (Hard Coated, Soft Coated), Application, Region and Global Forecast 2019-2026.
Prominent companies in the industry include PPG Industries Inc., Guardian Glass, Asahi India, CSG Architectural Glass, Arcon Flachglass Veredlung Gmbh Co. & KG, Sisecam Flat Glass, Cardinal Glass, Euroglas GmbH, AGC Glass Europe, Nippon Sheet Glass, Guardian Glass, Saint Gobain, Cardinal Glass Industries, and others which are offering great opportunities and major players are continuously focusing on new product developments and venture capital investments to obtain the market share.
Type segment covers tempered glass, laminated glass, float glass, heat strengthened glass, and others. The tempered glass segment dominated the market with the market size of USD 1.27 Billion in 2018 due to its high strength and ease of clean-up. Coating method segment is divided into hard coated and soft coated. In 2018, the hard coated segment accounted highest market share of 51.49% owing to its high temperature bearability and can be tempered after the coating application. Nature segment is categorized into electrochromic, photochromic, gasochromic, and others. The photochromic segment is anticipated to grow with the highest CAGR of 10.18% during the forecast period owing to its capability to convert light into electricity and increasing use in commercial building applications. Application segment includes commercial building, residential building, automotive, and others. The commercial building segment is expected to hold the largest market share of 39.25% during the forecast period. This is attributable to rising number of commercial buildings and increasing concerns about high air conditioning costs.
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Rising green building practices globally, swelling demand from developing economies due to increasing disposable income, and increasing use of photovoltaics glass in commercial and residential buildings are the key driving factors for the solar control glass market. In addition, growing demand from automotive industry will lead to the growth of solar control glass market in a couple of years. The raw material prices may limit the growth of market. However, increasing usage in automobiles and rising awareness regarding CO2 emissions from air conditioners is expected to boost the solar control glass market over the forecast period.
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