Rise in focus on energy conversation and increase in global warming have led to the development of energy efficient glass. Energy efficient glass is used to reduce the ultraviolet and infrared rays that enter buildings. The glass does not compromise upon the volume of light entering the structure. Energy efficient glass is made up of Nano coatings, which reflects light. These coatings preserve the temperature of the building or room by not allowing the outside temperature to enter the room.
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Growth in awareness about the concept of green buildings is the major factor driving the energy efficient glass market. Increase in concerns about carbon emission across the globe is also boosting the energy efficient glass market. However, difficulty in access of raw materials owing to its unavailability in major regions is likely to hamper the energy efficient glass market during the forecast period.. Nevertheless, surge in building & construction activities in Asia Pacific is expected to offer lucrative opportunities to the market.
Based on coating, the energy efficient glass market can be bifurcated into hard coat and soft coat. The hard coat segment is projected to expand at a fast pace during the forecast period. Based on glazing, the energy efficient glass market can be divided into triple glazing, double glazing, and single glazing. Shift from double glazing to triple glazing by building contractors is likely to propel the triple glazing segment in the near future.
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Leading glass manufacturers and research institutions are investing significantly to improve the access to raw materials of energy efficient glass, as they are not available in abundance in most of the regions. The research institutions are also conducting studies to come up with substitutes of raw materials of energy efficient glass. Manufacturers are also investing to enhance their product portfolio of energy efficient glass products in order to cater to various end-user industries.
In terms of application, the energy efficient glass market can be segregated into automotive, building & construction, and solar panels. The building & construction segment is anticipated to expand at a rapid pace during the forecast period owing to the increase in population in Asia Pacific.
Energy Efficient Glass Market: Regional Outlook
Asia Pacific is the major region of the energy efficient glass market. Growth in disposable income and rise in urbanization are the major factors driving the energy efficient glass market in the region.
Growth in emerging economies such as India, Taiwan, Indonesia, and Malaysia has boosted construction activities. This is also augmenting the energy efficient glass market in Asia Pacific. Increase in automotive production in China and Japan has propelled the usage of energy efficient glass, thereby driving the market in Asia Pacific.
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Key manufacturers operating in the global energy efficient glass market include Saint-Gobain, AGC, Guardian, Kaphs S.A., Metro Performance Glass, SCHOTT AG, Morley Glass & Glazing, Vitro Architectural Glass, Sisecam Group, and Sedak GmbH & Co. Kg.