Published Date : 05 Apr 2023
The size of the global coated glass market is set to hit almost USD 80.16 billion by the end of 2032 and is poised to grow at a CAGR of 8.21% during the forecast period 2023 to 2032.
The coated glass market growth is driven by expected to develop in the next years as a result of increasing energy efficiency requirements, the penetration of green buildings, and raising awareness of these factors.
In modern architecture, glass is the most prevalent material. The term "coated glass" also refers to reflecting glass. The optical properties of glass that have one or more layers of metal, alloy, or metal compound films applied to them are altered to meet specific requirements. The market for coated glass is expanding significantly as a result of coated glass' quick adoption in a variety of end-use industries, including architecture.
Also, the market is being driven forward by rising urbanization, the need for affordable housing, an increase in population, and the development of the services industry, particularly the IT and ITES sectors. Additionally, it is anticipated that the use of green building techniques and rising demand for decorative glass with digital printing will propel market growth.
Among many other uses, coated glass can be used to provide UV protection, heat protection, water-repellent coating (for shower walls, eyeglass lenses, and automotive glass), shatter protection, easy-to-clean coatings, and graffiti protection. Coated glass has a sizable market in the building and construction sector due to the industry's considerable usage of coated glass in facades, partitions, windows, and other applications.
These glasses' tensile strength, durability, and surface coating were all enhanced using cutting-edge mechanical and chemical methods. To reduce the amount of solar radiation and other thermal waves that reach the glass screen, coated glass is used.
Coated Glass Market Report Scope:
|Market Size in 2022||USD 36.42 Billion|
|Projected Forecast Value in 2032||USD 80.16 Billion|
|Growth Rate||8.21% from 2023 to 2032|
|Largest Market||North America|
|Forecast Period||2023 to 2032|
|Regions Covered||North America, Europe, Asia-Pacific, Latin America and Middle East & Africa|
In terms of revenue, the Asia Pacific region will account for 36% of the global market in 2022. South Korea, Japan, and China are all sizable markets in the Asia Pacific region. India and other Southeast Asian countries like Thailand and Indonesia also have a lot of promise. Rising economic growth, disposable income, and concomitant increases in investments in EVs, home construction, and solar installations all support market expansion in these countries.
High-volume vehicle production in the Asian Pacific region is probably advantageous to the industry in some ways. Although coated glass products have not yet been widely used in the automotive industry, automakers are beginning to include these items in cars, especially high-end models.
On the other hand, Market revenue for coated glass in Europe is anticipated to increase at a CAGR of 9.5% between 2023 and 2032. In Europe, green buildings are likely to receive special attention, which will likely speed up market expansion.
The local green construction sector gives a lot of attention to self-powered buildings, insulation, heating and cooling, lighting, and heating and cooling systems. Low-E coated solar control glass, which reflects heat away from windows and leaves cold air for summer ventilation, is used in many high-efficiency buildings.
Expanded global solar capacity
The usage of solar panels as an alternative energy source is gaining significance worldwide. Electricity is increasingly being produced using solar panels. Solar glass with nanocoating is water-repellent, self-cleaning, and anti-reflective. Solar modules with nanocoating repel water more quickly than untreated glass because of their hydrophobic characteristics.
Manufacturing cost is high
High production costs are impeding the growth of the coated glass market, which is being fueled by the expansion of the construction industry. The float line that produces flat glass has a significant cost disadvantage because flat glass is the foundation for coated glass. The float glass process is used to create more than 90% of the flat glass that is produced globally. As a result, the flat is frequently referred to as "float glass". When capacity utilization is higher than 70%, floating glass plants can become profitable over the long term with a small investment.
Coated glass is becoming more prevalent in optical
The anti-reflective coating on the binoculars' glass helps to reduce reflection and eye fatigue. It works well for other applications like contrast-enhancing telescopes, camera lenses, and corrective lenses. AR-coated glass benefits high-index lenses the most because it reflects light more than plain plastic lenses do.
These pricey lenses have an AR coating that improves comfort and visibility without sacrificing their capacity to react to sunlight in any type of lighting. A wise choice for sunglasses is anti-reflective coating glass because it lessens the glare that tinted lenses can produce in your eyes when the sun is behind you.
The metallic covering poses health risks
A metallic coating is used for creating coated glass. When industrial workers come into contact with metallic coatings, there are risks to their health and safety. Workers run the risk of inhaling these hazardous compounds when additional coating treatments or surface preparation are needed. Inhaling VOCs and HAPs can result in health problems such as headaches, nausea, dizziness, and irritation of the skin or eyes.
According to the environmental protection agency, millions of pounds of dangerous air pollutants are released into the environment each year, and these pollutants are thought to be the root cause of cancer and other severe health issues.
Major Key Players:
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