Energy Efficient Glass Market - Forecast(2023 - 2028)

OVERVIEW

Energy Efficient Glass Market is forecast to reach $35 billion by 2025, after growing at a CAGR of 5.3% during 2020-2025. Rising emphasis on energy discourse and increasing global warming has contributed to energy efficient glass evolving. The global market for energy-efficient glass is also motivated by the government's substantial investment support, favorable initiatives and trade policies. The rapid market penetration of smart glass technology in the building & construction, automotive, and solar panel industries is creating extensive demand for energy efficient glass market during the forecast period.

REPORT COVERAGE

The report: “Energy Efficient Glass Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the energy efficient glass Industry.

KEY TAKEAWAYS

·         Asia-Pacific dominates the energy efficient glass market, owing to increase in manufacturing and construction activities in the region. Increasing disposable income and rise in urbanization are also key factors driving the glass market in APAC.

·         Growth in recognition of the green building concept is a key factor driving the energy efficient glass market. Increasing awareness around the globe regarding carbon emissions is also growing the energy efficient glass market.

·         Over 25 percent of the average building bills go higher due to inefficient windows, skylights and glazed doors whereas energy cost can be cut by 15% each month on installing energy efficient glass. Thus, cost effectiveness and low emission properties in smart buildings is becoming highly popular all over the world.

BY COATING – SEGMENT ANALYSIS

The hard coat segment held the largest share in the energy efficient glass market in 2019, owing to its low emissivity, durability, and cheap cost. There is a high demand for hard coat glasses in Asia Pacific region because of convenient installation availability. Soft coat low-e glass reflects heat energy more efficiently and provide better insulation than low-e hard coat glass due to which there is an increasing demand of soft coated glass in the energy efficient glass market.

BY GLAZING – SEGMENT ANALYSIS

The triple glazing segment held the largest share in the energy efficient glass market in 2019, owing to reduced condensation on pane, significant reduction in noise pollution and higher temperature resistance coefficient (R-value). Triple glazing glass has excellent low emission properties and lower U-value of 0.8 due to which the building contractors have shifted to triple glazing energy efficient glasses from double glazing energy efficient glasses.

BY END USER INDUSTRY – SEGMENT ANALYSIS

The building and construction segment held the largest share in energy efficient glass market in 2019 and is growing at a CAGR of 6.8%, owing to increasing construction activities, especially in Asia-Pacific regions. In nations such as China, India, Australia and Singapore, there is a massive growth in the construction and transportation industry due to population growth, high urbanization, and rising per capita income of the individuals.  The market penetration of smart glass technologies because of significant reduction in the fuel consumption, heat loads, carbon emission, and energy bills, along with protection of the interior parts, and passenger comfort & safety are some of the reasons driving the energy efficient glass market in the end-use industry.

BY GEOGRAPHY – SEGMENT ANALYSIS

Asia Pacific held the largest share in the energy efficient glass market in 2019 up to 28%, owning to rising urbanization, and industrial growth. In 2018, According to OICA the automotive production in India, Indonesia and Malaysia has increased up to 5174645, 1343714 and 564800, i.e., 8.0%, 10.3% and 12.2% higher than previous year. The growth in production of automotive is influencing energy efficient glass market growth, as automotive manufacturer’s use energy efficient glass to decrease the weight of the glass which further lowers the energy consumption of the vehicle. Also, increasing Foreign Direct Investment have accelerated construction activities in countries such as India and China as it encouraged international companies to build production units in other countries. All of these factors are projected to drive energy efficient glass market in Asia Pacific region.

DRIVERS – ENERGY EFFICIENT GLASS MARKET

·         Growing prominence of green buildings

There is an increasing demand of energy efficient glass for constructing green buildings as it furnishes low power consumption and high environmental protection. Replacing the existing glasses with low-e glazing can improve the energy efficiency of the building, reduce the monthly bills and decrease the size of the carbon footprint.

Storm windows installation is one of the most cost-effective solutions for upgrading energy inefficient existing windows. Thus, the rising adoption of sustainable and environment-friendly building from end-users is expected to boost the demand for energy efficient glass market.

·         Increasing concern about carbon emission

Increasing concerns over sustainability and global carbon emission levels have aided substantial investments by the government of various countries across the world. Cap & trade and carbon tax are the approaches that are taken for reducing the greenhouse gas emissions by the government. Using energy-efficient glass range in the buildings will reduce CO₂ output, making the carbon footprint smaller and the building more environmentally friendly. Therefore, the increasing concern regarding carbon emission is influencing market growth.  

CHALLENGES – ENERGY EFFICIENT GLASS MARKET

·         High Initial Cost

The prominent challenge that the energy efficient glass market have to endure through is higher initial cost of the glass. Although energy-efficient windows generally pay for themselves within three to four years through lower monthly utility bills but upfront costs can be a barrier. Also, in order to not be in loss all the windows in the property must be replaced at the same time.

·         Lack of access to raw material

Another challenge faced by the energy efficient glass industry is scarcity of raw materials such as silica sand and limestone in most of the regions. For instance only a small proportion of available sand deposits are suitable for glass manufacture, only six UK sites produce silica glass suitable for the manufacture of flint container glass. In addition, the raw materials such as soda ash and limestone needs to be processed at incredibly high temperatures, releasing tonnes of CO₂ per year. These factors are hampering energy efficient glass market growth.

MARKET LANDSCAPE

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the energy efficient glass market. In 2019, the market of energy efficient glass has been consolidated by the top five players accounting for xx% of the share. Major players in the energy efficient glass Market are Compagnie de Saint-Gobain S.A. (France), Nippon Sheet Glass Co. Ltd. (Japan), AGC Inc. (Japan), Guardian Glass LLC. (U.S), SCHOTT AG (Germany), Morley Glass & Glazing (U.K), Vitro Architectural Glass (U.S), Sisecam Group (Turkey), and Sedak GmbH & Co. KG (Germany).

Acquisitions/Technology Launches

Ø  In October 2019, Sedak launched a new glass-“Sedak isosecure” in oversized formats of up to 3.5 x 20 meters which offered features such as Bullet-resistance and capabilities of modern insulation glass.

Ø  In November 2019, Guardian Glass launched a glass solution for digital touchscreen displays, which provides excellent anti-glare and anti-sparkling optics, combined with high contrast and color rendering properties.