2024 Solar Control Glass Market Outlook: Size, Share, and Key Growth Drivers
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What Growth Rate is the Solar Control Glass Market Anticipated to Experience from 2024-2033?
The market size for solar control glass has seen significant growth in the past few years. It is anticipated to rise from $5.54 billion in 2023 to $5.92 billion in 2024, with a compound annual growth rate (CAGR) of 6.8%. Factors like cost-saving efforts, worries about energy efficiency, rapid urbanization and construction surge, concentration on environmentally friendly buildings, and demand from the automotive sector have contributed to this growth in the historical period.
The market size of solar control glass is projected to witness significant expansion in the upcoming years, with an expected valuation of $7.72 billion by 2028, progressing at a compound annual growth rate (CAGR) of 6.9%. Growth in this period is anticipated due to factors such as the increasing consumer demand for comfort, ongoing research and development, the necessity for UV protection, a shift towards energy conservation, and architectural trends. Key trends during the forecast period encompass advancements in smart glass technology, dynamic modifications in architectural designs, smart city projects, the concept of urban heat island effect, evolution in smart automotive solutions, and imperatives related to health and UV protection.
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What Are the Significant Influencers of Growth in the solar control glass Market?
The growth of the solar control glass market can be credited to the increasing popularity of green building practices worldwide. Green structures are distinguished by their low carbon emissions and environmental sustainability. Solar control glass equates to green glass due to its application in the construction of sustainable buildings to boost eco-friendliness. The 2021 World Green Building Trends report indicated a possible rise in green building activities in the upcoming three years. The report stated that 28% of surveyed individuals are implementing green construction tactics in more than 60% of their projects. Additionally, by 2024, 42% of the respondents plan to incorporate green methodologies in over 60% of their future projects. Therefore, the escalation of green building practices will lead to an increased demand for solar control glass.
What Are the Principal Segments of the Solar Control Glass Market?
The solar control glass market covered in this report is segmented –
1) By Glass Type: Float Glass, Heat Strengthened Glass, Laminated Glass, Tempered Glass, Other Glasses
2) By Coating Method: Hard Coated, Soft Coated
3) By Nature: Electrochromic, Photochromic, Gasochromic, Other Nature
4) By Application: Residential, Commercial, Automotive, Other Applications
What Are the Key Developments Shaping the Solar Control Glass Market?
A leading trend that’s gaining traction in the solar control glass market is product enhancement. Major entities in this field are deploying innovative technologies such as energy-saving measures to maintain their dominance. The concept of energy saving is drawn from the comparison of energy consumption before and after energy efficiency interventions. To illustrate, AGC Obeikan, operating from the United Arab Emirates, brought Stopray Ace-30T, a new solar control-coated glass entity, to the market of MENA (nations across the Middle East and North Africa). Products under the Stopray brand are particularly appropriate for nations with warm climates due to their superior solar control. The aim behind the Stopray Ace-30T’s double silver coatings is to boost comfort levels and energy efficiency. The subtle coating successfully decreases indoor light reflection providing a clear outside view while fostering a pleasant indoor ambience amidst sunshine.
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What Regions Are Driving Expansion in the Solar Control Glass Market?
Europe was the largest region in the solar control glass market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the solar control glass market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Solar Control Glass Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the solar control glass market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Solar Control Glass Market Include
1. Solar Control Glass Market Executive Summary
2. Solar Control Glass Market Segments
3. Solar Control Glass Market Size And Template Market Growth Rate
4. Key Solar Control Glass Market Trends
5. Major Solar Control Glass Market Drivers
……
25. Key Mergers And Acquisitions In The Solar Control Glass Market
26. Top Solar Control Glass Companies
27. Solar Control Glass Market Opportunities And Strategies
28. Solar Control Glass Market, Conclusions And Recommendations
29. Appendix
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