|Status : Published||Published On : Apr, 2021||Report Code : VRCH2073||Industry : Chemicals & Materials||Available Format :||Page : 158|
Global solar control glass market was valued at USD 6,401.3 million in 2021 and is expected to grow at a CAGR of 9.0% during the forecast period 2021–2027. The incremental development of both commercials, as well as residential buildings and a tremendous rise in BIPV market (Building Integrated Photovoltaic), are major factors contributing towards the growth of the solar control glass market globally.
Solar control glass is excessively being used for reducing the gain of solar heat and helps in dispersing a huge amount of natural light enabling a comfortable and pleasant stay for individuals.
Insight by Product
Based on product, the global solar control glass market is categorized into absorbing solar control glass, and reflective solar control glass. Among these two, the reflective solar control glass category accounts for the larger market share of more than 55.0% in 2018 in the global market owing to the increasing demand from construction and automotive industries.
Insight by Thickness
Based on thickness, the global solar control glass market is segmented into <3mm, 3-5mm, and >5mm. Of all, the 3-5mm thickness category is expected to witness the fastest growth during the forecast period.
Insight by Application
On the basis of application, solar control glass market is segmented into commercial buildings, residential buildings and automotive. In 2018, among all these applications commercial building segment is projected to occupy the largest share in the global solar control glass market. These glasses help in decreasing the requirement for costly obtrusive blind windows and air-conditioners. Moreover, solar control glasses reflect an infrared (IR) component that eliminates the huge amount of heat in entering buildings, as a result, it helps in reducing unpleasant glare. However, it enables efficient transmission of natural sunlight into the interior of the buildings.
The increasing tax benefits and government initiatives are the major factors driving the growth of global solar control glass market. The various subsidies provided by government agencies in regions of Europe and Asia-Pacific are the key reforms for strengthening this market.
The various aids provided by government organizations include investment tax credit, FIT programs and other tax assistance reforms. For instance, in India, it has been observed that government has introduced several developmental reforms for the upgradation and upliftment of solar glass market. The regulation for providing tax relief to construction developers and aiding 100% FDI (foreign direct investment) for infrastructural development are few such instances that portrays the growth of global solar control glass market in Asia-Pacific region.
Furthermore, the increasing growth of BIPV market is further strengthening the global market base for solar control glass market. BIPV is extensively being used for developing new buildings for the purpose of providing electrical power to several areas, in spite of constructing traditional building constructions. Additionally, the marginal cost involved with the advancement and innovation of BIPV offerings such as insulated BIPV windows, colored and transparent window is further expected to impact the solar control glass market in a highly positive manner in the near future.
The increased number of cases witnessing seasonal fluctuations in solar power availability is the major factor hindering the growth of global solar control glass market. For instance, the setting up of solar control glasses in a cool climate is not a viable option as it can reduce the requirement of crucial solar heat in the building. These glasses are not considered to be economical alternative in cold climate and can increase the unwarranted electricity bills in that season. Moreover, the high cost of setting up these glasses as compared to the normal glass is hindering the growth of global solar control glass market.
Globally industry players in global solar control glass market are employing besieged investments in optimizing manufacturing process and investing in improved and upgraded technology. The key players are seeking opportunities for enhancing plant-wide upgradation specifically in global markets. The users of these offerings observed enhanced security, reliability and secure remote at affordable prices.
Asia-Pacific is expected to witness the fastest growth in the global solar control glass market. Large number of population, increasing disposable income and swelling construction industry in this region are the major factors contributing towards the growth of solar control glass market. Moreover, technological upgradation, supportive government regulations and increasing demand for BIPV market in the region are further accelerating the growth of solar control glass in Asia-Pacific.
Market players in the solar control glass market are constantly upgrading and enhancing their technological efficiency in order to provide the best offerings to its customers. Some of the key players operating in the global solar control glass market are Saint-Gobain S.A., Asahi Glass Co. Ltd., Nippon Sheet Glass Co. Ltd., Guardian Industries, Taiwan Glass Group, Trakya Cam Sanayii A., PPG Industries Inc., CSG Holding Limited, Arcon Flachglas-Veredlung GmbH & Co. KG, and Cardinal Glass Industries, Inc.
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