Architectural glass sales will grow at a compound annual growth rate of 7%
According to Fact.MR's research, the global architectural glass market is expected to grow at a compound annual growth rate of 7% from 2021 to 2031, reaching a valuation of US$90 billion by 2031, and the market will exceed US$46 billion in 2020. Historically, in terms of market value, total sales are US$46 billion, with a compound annual growth rate of 5% from 2016 to 2020.
Glass can transmit sunlight and is not affected by the weather. In addition, the color of the glass is not affected by environmental changes, so it looks visually pleasing for a long time.
Architectural glass is not only recyclable but also can be shaped and reused many times. Therefore, glass has become a cost-effective alternative to various materials used in the construction industry. In addition, customers who care about the environment choose glass products that have passed the sustainable production process, which is expected to bode well for the market.
According to the European Green Economy Transformation Strategy, the European Bank for Reconstruction and Development has sponsored 200 large-scale green building projects totaling US$20 billion; coupled with increasing investment, the demand for energy-efficient building glass has also been supported by favorable government legislation.
Urbanization and demand from the residential and commercial sectors drive the demand for architectural glass. The increasing demand for lighter, stronger, and more energy-efficient architectural glass will continue to promote the production capacity of architectural glass, and the construction industry will remain a profitable market for glass manufacturers.
Fact.MR analysts said, "With the emergence of modern glass solutions, consumers are choosing an energy-efficient architectural glass to improve natural light intake and help reduce energy use. In addition, self-cleaning glass, insulating glass, The development of products such as soundproof glass and solar control glass will also promote market development."
The key information obtained from the architectural glass market research report:
During the forecast period, Asia will account for more than 40% of the architectural glass market;
During the forecast period, Europe will account for more than 30% of the total market share;
According to the manufacturing process, it is expected that float glass will grow at a compound annual growth rate of 4% from 2021 to 2031;
The construction industry employs approximately 18 million people, accounting for approximately 9% of the total European GDP.
Growth drivers
The demand for moderately priced and better glass materials in the construction industry will drive market growth;Industrial growth in countries such as China and India will drive demand for architectural glass in the next few years.
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