Multiple Trends Driving Growth in Solar Control Glass Market
The global solar control glass market was valued at an estimated $4.2 billion in 2015.
The global solar control glass market was valued at an estimated $4.2 billion in 2015, and it is expected to grow at a compound annual growth rate (CAGR) of 9.2% from 2016-2022, according to a recent report from Research and Markets. Increased government initiatives and tax benefits, growing construction of residential and non-residential buildings, and huge growth in the building-integrated photovoltaic (BIPV) market are driving the growth of the market.
Solar control glass is a value-added glass with special coatings that reduces the amount of heat entering buildings and reflects a major portion of sunlight, thereby making the indoor space cooler and brighter. The increasing use of glass in modern buildings and awareness of people’s comfort have resulted in a more dynamic usage of solar control glass in the building and automotive markets.
Europe became the largest market for solar control glass in 2015. The European solar control glass market is growing due to increasing residential and commercial building construction, environmental policies regarding the curbing of harmful emissions, and government initiatives market.
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