The global coated glass market size was valued at USD 32.951 billion in 2021 and is expected to reach USD 71.425 billion by 2030, growing at a CAGR of 9.2% between 2022 and 2030.
In recent years, the coated glass market has expanded rapidly with the development of the flat glass industry. The economic downturn brought on by covid-19 has already impacted many coated glass end-use industries including architectural, automotive, and solar glass. However, the increasing use of coated glass in construction, automotive, renewable energy, and manufacturing, as well as the global economic recovery, are driving the demand for coated glass. At the same time, laws and regulations to reduce carbon dioxide emissions, conservation, and natural energy are driving the growth of the coated glass market.
Refurbishment of existing buildings presents a significant opportunity for the coated glass market, particularly low-E glass, which has acoustic and passive solar design features to improve energy efficiency.
In modernist architecture, glass has become the predominant material, and can also be made with a wide range of desirable properties by changing its configuration and process, changing the performance characteristics of glass so that it can be used for solar energy, sound insulation, thermal control, and safety glass. These glasses are especially mechanically and chemically treated to improve their elasticity, durability, and application-specific surface coatings. Coated glass is used to reduce the exposure of glass screens to solar radiation and other heat waves that combine with the crystal to form a durable coating. In addition, coatings on glass improve exceptional scratch resistance, absorption, transmission, and corrosion resistance.
Global Coated Glass Market Growth
Coated glass is an advanced manufacturing glass that is sprayed with metallic nanoparticles. On the solar side, it changes the form and behavior of glass in infrared and visible light environments, a material that is only allowed inside the protective glass. A type of flat glass that is coated with coatings, low emissivity coatings, hard coatings, soft coatings, and anti-reflection coatings is called coated glass. Growth in residential and commercial buildings and infrastructure improvements are driving the coated glass market. Concern over the rising cost of commercial air conditioners is expected to drive the demand for solar glass shortly. The rise of the automotive industry as a highly specialized field is likely to further increase the demand for coated glass.
The spread of the COVID-19 pandemic poses a major threat to the global economic system. In response to the growing epidemic of the virus, the government has issued a blanket ban, which often results in the suspension of production, the closure of all workplace environments, restrictions on public interactions, and the possible suspension of global trade and manufacturing activities. The global pandemic has suppressed coating The glass market has grown and many manufacturing companies have been forced to temporarily suspend operations to comply with government-enforced lockdowns, which typically result in a cessation of vehicle manufacturing and infrastructure activity, as well as a downturn in the market.
Figure 1 The growth of global coated glass market
Global Solar Capacity Increase Drives Coated Glass Market
The global solar industry, especially in terms of infrastructure development, is expected to expand significantly. Solar power generation capacity is expanding due to the depletion of clean energy sources, the regulatory environment, environmental concerns, falling costs of solar power systems, technological advances, and rising electricity demand. Growth in the solar industry heralds an increase in solar panel utilization, which may ultimately impact the demand for coated glass. Glass on solar panels is critical as it acts as a barrier between harsh exterior elements and photovoltaic solar cells. Coated solar panel glass is important because it directly affects the operation and performance of photovoltaic systems.
Coated Glass Market Regional Overview
North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa are the regional classifications of the global coated glass market.
The Asia Pacific is expected to be the fastest-growing region and hold the largest market share in the next few years. This expansion is associated with growing discretionary income, rapid economic growth, and advancements in the infrastructure and construction industries. In addition, the demand for coated glass is expected to rise across the Asia Pacific region, including automotive manufacturing, manufacturing, aerospace, scientific research, and defensive endeavors. So the Asia Pacific is the dominant region because it has the most glass production plants. The increasing production of energy-efficient and compact cars are boosting the high demand for coated glass, all these factors are driving and dominating the market demand for coated glass in this region.
Coated Glass Market Segmentation
The global coated glass market is segmented based on type and application area. According to the type, it is divided into Low-E glass, solar control panel, hard coating, and soft coating. Based on application, the market is segmented into automotive, construction, aerospace & defense, sports & leisure, and others.
Coated Glass Market Players
The coated glass industry is some of the key players globally:
Nippon Sheet Glass Co., Ltd,
China Glass Holding, Ltd,
Fuyao Glass Industry Group Co., Ltd,
and Guardian Industries.
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