The global advanced glass market is set to surpass USD $110 billion by 2024 according to a new research report by Global Market Insights.
Overall, the market should surpass 85 million tons at end of 2024. Rapid industrialisation & urbanisation rate in China, Brazil, and India along with favourable government schemes to boost infrastructure development will support growth of housing, construction and automotive industries, thereby stimulating advanced glass market demand.
Rising environmental concerns pertaining to carbon emissions and energy efficiency along with shift in consumer preference towards green buildings and safety products should positively influence advanced glass market growth, the report says.
With steady growth in the U.S., the advanced glass market size should surpass 2 billion square meters during the forecast period.
This is due to the shift in builder’s trends towards environmental protection, safety, natural insulation and security in the buildings along with widespread of usage of recyclable and environmental friendly materials that in turn, will positively influence regional industry growth, the report says.
Advanced glass possesses various characteristics such as superior solar control performance, transmission and absorption properties, thereby enhancing the energy effectiveness of the buildings, resulting into increased advanced glass market demand.
In the UK, the coated glass market size from non-residential buildings should witness significant gains close to 3 percent during the foreseeable timeframe.
Stringent regulations by EU Commission pertaining to energy savings and CO2 emissions along with enhanced usage of product in hospitals, commercial buildings, offices and institutions to minimise the use of air conditioners and promote renewable energy resources should fuel regional advanced glass market growth, according to the report.