Coated Glass Market to cross $24.5 bn by 2024
Coated Glass Market is slated to exceed USD 24.5 billion by 2024; according to a new research report by Global Market Insights, Inc. Increasing demand for clean source of energy along with addition of better aesthetical value to the buildings will drive coated glass market. Favorable government schemes along with growth in FDI funding in India and China has propelled the growth of construction and automotive industries in the region, thereby propelling product demand. Environmental concerns regarding CO2 emissions and consumer awareness towards energy efficient buildings will stimulate industry growth. Rising population and better living standards of people along with stringent regulations pertaining to environmental issues initiated by EPA and REACH for construction projects, will drive coated glass market size. Safety regulations implemented by FEMA and LEED coupled with increasing middle class disposable income to buy luxurious vehicles, will further stimulate industry growth. Europe, with steady growth in Germany, UK and France coated glass market size will exceed 380 million square meters during the forecast period. Builders are more concerned towards safety & security, environmental protection and natural insulation in residential as well as commercial buildings. Superior solar performance, absorption, transmission and reflection properties of the product along with increasing approach towards achieving greater energy efficacy of the buildings will drive industry growth. Solar control glass market demand from construction applications will witness gains at over 4% during the projected timespan. The products are used in combination to create multi-functional glazing which results in noise reduction, low-maintenance, enhanced safety & security and aesthetic appeal. They have a microscopically thin coating on one side of the glass which reflects the heat from the sun to the outside and keeps the interiors cooler, thereby enhancing the energy efficiency of the building and stimulating coated glass market growth.
Tags : INTERNATIONAL