The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Energy Efficient Glass Market.
It was estimated prior to this unanticipated outbreak that the Energy Efficient Glass Market will grow at 5.2% CAGR. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Energy Efficient Glass Market Segment Analysis:
Based on the coating type, the market is segmented as hard coat and soft coat. The hard coat segment is estimated to register a higher growth in the coming five years. Low emissivity, durability and easy availability are the factors that drive the growth of the hard coat segment.
Based on the glazing type, the market is segmented as triple glazing, double glazing, and single glazing. The triple glazing segment is projected to witness the highest growth during the forecast period. Excellent low emission properties of triple glazing energy efficient glass have led to its increased adoption from building contractors instead of double-glazing energy efficient glass.
Based on the end-use industry type, the market is segmented as building & construction, automotive, solar panels, and others. The building & construction segment is expected to witness the highest growth in the coming five years. Growing construction activities in the Middle East and Asia-Pacific, owing to increasing population is the major factor driving the growth of the building & construction segment.
In terms of regions, Asia-Pacific is expected to remain the largest market for energy efficient glass in the coming five years. In the last few decades, significant investment from various international companies has been made in the region to leverage low-cost labor and dependable supply chain. Further, increasing demand from the end-use industries, rapid urbanization, and the growing disposable income of consumers are the major factors which have led to the dominance of the region in the global energy efficient glass market.
Some of the major players in the energy efficient glass market are Compagnie de Saint-Gobain S.A, AGC Inc., Nippon Sheet Glass Co., Ltd., Sisecam Group, Vitro Architectural Glass, Gaurdian Industries, Morley Glass & Glazing, Kaphs S.A., Sedak GmbH & Co. KG, CSG Holding Co., Ltd., Taiwan Glass Ind Corp., Central Glass Co., Ltd., and Fuso Glass India Pvt. Ltd.
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