Strong Demand Expected for Solar Control Glass through 2026
The automotive sector is anticipated to be the fastest-growing application segment for solar control glass, growing at a CAGR of 8.6% during the forecast period.
The solar control glass market is expected to reach nearly $10.6 billion by 2026, expanding at a CAGR of 4.8% from the 2018 level of $5.3 billion, according to a recent report from Reports and Data. The growth can be mainly associated with increasing global demand from the construction and building industries. Increasing use in the automotive industry is also expected to positively impact market growth.
The increasing use of glass in modern buildings and the growing awareness of people’s comfort and air conditioning costs have resulted in the more effective use of solar control glass in the construction market. The growing trend of green building construction with high energy efficiency and reduced CO2 emissions is expected to drive market demand for solar control glass over the forecast period.
Asia-Pacific accounted for the largest market share (35.3%) in 2018. Emerging economies in countries like India and China are contributing significant growth for the market in the region. Favorable government policies in Japan and China are also expected to encourage demand.
Further findings from the report include:
- Reflective glass is mostly ordinary float glass with a metallic coating that reduces solar heat. This special metallic coating also provides a one-way mirror effect, preventing visibility from the outside and maintaining privacy.
- The reflective sector of the product segment accounted for the largest market share (55.2%) in 2018.
- The commercial buildings segment accounted for the largest application market share (39.3%) in 2018. The residential buildings sector was the second-largest application, with a global market share of 33.8% in 2018.
- The automotive sector is anticipated to be the fastest-growing application segment, growing at a CAGR of 8.6% during the forecast period.
Additional details are available at www.reportsanddata.com.