Yahoo Finance Architectural Glass Market Revenue to Surpass $75+ Billion by 2028 | Driven by Rising construction activities across the globe| Exclusive Report by The Insight Partners
Architectural Glass Market is projected to grow from USD 52.61 Billion in 2022 to USD 75.84 Billion by 2028; it is expected to grow at a CAGR of 5.6% from 2022 to 2028
New York, Feb. 08, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Architectural Glass Market Size, Share, Demand, Industry Trends and Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Tempered Glass, Annealed Glass, Laminated Glass, and Others) and Application (Hurricane Impact, Balustrades/Glass Railings, Overhead and Canopies, Security/Bullet Resistant Glass, Acoustics, Decorative/Colored Glass, Structural Facades, and Others)” Growing construction industry and rising need for energy-efficient products are boosting the demand for architectural glass. Various governments across the globe are also focusing on making buildings more energy efficient.
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Global Architectural Glass Market Report Scope, Segmentations, Regional & Country Scope:
Market Size Value in | USD 52.61 Billion in 2022 |
Market Size Value by | USD 75.84 Billion by 2028 |
Growth rate | CAGR of 5.6% from 2022 to 2028 |
Forecast Period | 2022-2028 |
Base Year | 2022 |
No. of Pages | 185 |
Historical data available | Yes |
Segments covered | Type, and Application |
Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America |
Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Key Research Capabilities | Global Market Assessment, Business Development Strategies, Competitive Landscape, Opportunity Analysis, Regional and Country Level Market Analysis, Market Entry Strategies, Market Dynamics, Risk and Return Assessments, Pricing Analysis, Market Size and Forecasting, Company Profiling, Value Chain Analysis, Expansion Strategies, SWOT Analysis, New Product Development |
Global Architectural Glass Market Forecast to 2028 - Latest COVID-19 Analysis | https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00029794/ |
Increase in Construction and Infrastructural Redevelopment Activities
Architectural glass is one of the major components of various infrastructure and building construction projects. Glass can transmit daylight and is not affected by the weather. In addition, changes in the environment do not change the color of the glass, making it appear aesthetically pleasant for a more extended period. Due to these factors, glass is majorly used for construction redevelopment activities. The scale of the construction market across the world is constantly expanding, which aids the architectural glass market growth. For instance, according to one market survey data, the world construction market has grown from US$ 9.5 trillion in 2014 to US$ 11.4 trillion in 2019, with a compound annual growth rate of 3.71% from 2014 to 2019. Thus, the increase in construction activities is further expected to boost the demand for architectural glass globally.
The per capita income in Asia Pacific has increased, along with the development of affordable residential homes. Hence, Asia Pacific is witnessing rapid urbanization and a surge in the construction projects of residential and commercial buildings. Owing to these factors, Asia Pacific held the largest share of the global architectural glass market in 2021.
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Architectural Glass: Competitive Landscape and Key Developments
AGC Inc, Compagnie de Saint-Gobain SA, Guardian Industries Holdings LLC, Nippon Sheet Glass Co Ltd, Qingdao Morn Building Materials Co Ltd, Asahi India Glass Ltd, Turkiye Sise ve Cam Fabrikalari AS, Schott AG, Jinjing (Group) Co Ltd, and Vitro SAB de CV are among the major players operating in the global architectural glass market. Companies in this market focus on strategies such as investments in research and development activities and new product launches.
Impact of COVID-19 Pandemic on Architectural Glass Market
The COVID-19 pandemic caused significant economic losses worldwide due to its temporary effects on the operational efficiencies of various industries due to a huge gap in the supply and demand of raw materials. It also adversely impacted the architectural glass market in 2021. The sudden closing of national and international boundaries disrupted the operational efficiencies and raw material supply. Due to the lockdown, the production of architectural glass halted abruptly, resulting in a significant loss in the construction industry. As per the Federal Statistics Office data, the glass industry closed out 2020 with a 4.6% decline in revenue.
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Architectural Glass Market: Segmental Overview
Based on type, the architectural glass market is segmented into tempered glass, annealed glass, laminated glass, and others. The laminated glass segment held the largest share of the global market in 2021. Laminated glass is a good alternative to traditional glass, as it offers a rigid, robust, and durable structure and provides a solid, transparent layer. It is used in buildings that are at high risk of hurricanes or other natural disasters, in windows of residential and commercial buildings at higher risk of break-ins, and as a display cabinet for valuables such as jewelry, aquariums or animal enclosures, glass floors, glass stairs, skylights, and glass roofs. Laminated glass is often used as hurricane-resistant walls, intrusion cover in houses, and damage intolerance in vehicle windshields.
Based on application, the architectural glass market is segmented into hurricane impact, balustrades/glass railings, overhead and canopies, security/bullet resistant glass, acoustics, decorative/colored glass, structural facades, and others. Acoustics is expected to be the fastest-growing segment during the forecast period. In a fast-urbanizing society, noise is one of the most significant causes of stress and fatigue. Hence, in the building & construction industry, many manufacturers are using acoustic glass extensively as it reduces noise levels by using thicker glass such as laminated glass. Laminated glass is made by laminating two pieces of glass with a polyvinyl butyral (PVB) interlayer. The interlayer dampens the sound and reduces sound transmission. These factors are expected to drive the segment during the forecast period.
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