Globally Construction Glass Sales Increasing at 7% CAGR

The global construction glass market is anticipated to grow at 7% CAGR between 2021 and 2031 to reach valuation of US$ 90 Bn by 2031.The market surpassed US$ 46 Bn in 2020. Historically, sales totaled US$ 46 Bn in terms of market value, growing at 5% CAGR between 2016

BY Realty Plus
Published - Wednesday, 25 Aug, 2021

Globally Construction Glass Sales Increasing at 7% CAGR

The global construction glass market is anticipated to grow at 7% CAGR between 2021 and 2031 to reach valuation of US$ 90 Bn by 2031.The market surpassed US$ 46 Bn in 2020. Historically, sales totaled US$ 46 Bn in terms of market value, growing at 5% CAGR between 2016 and 2020. Glass can transmit daylight and stay unaffected by weather. Furthermore, color of a glass does not get affected by changes in the environment. As a result, it looks visually pleasing for a longer time. Construction glass is not only recyclable, but it can also be shaped and reused numerous times. As a result, glass has emerged as a cost-effective alternative for various materials used in construction sector. Furthermore, environmentally concerned customers are choosing glasses that have passed sustainable production procedures. This is expected to bode well for the market. The European Bank for Reconstruction and Development (EBRD) has sponsored 200 big projects totaling US$ 20 billion in green buildings under the Green Economy Transition (GET) strategy. Coupled with rising investment, the demand for energy-efficient construction glasses has also been aided by the implementation of favorable government legislation. The need for building construction glass is being driven by urbanization and demand from residential and commercial sectors. The increasing demand for lighter, stronger, and more energy-efficient construction glasses will continue to drive construction glasses production. The building sector will also remain a profitable market for glass producers.