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Solar Control Glass Market revenue to hit USD 10 Billion by 2033, says Research Nester

Leading solar control glass market players include Guardian Industries Holdings (Koch Industries, Inc.), Cardinal Glass Industries, Inc., AGC Group, Central Glass Co., Ltd., Saint-Gobain Group, Euroglas GmbH, Nippon Sheet Glass Co., Ltd., PPG Industries, Inc., and SCHOTT Group.

New York, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The global solar control glass market size is slated to expand at ~9% CAGR between 2023 and 2033. The market is poised to garner a revenue of USD 10 billion by the end of 2033, up from a revenue of ~USD 5 billion in the year 2022.The major factor that is attributed to the market growth is the rising construction industry along with the expansion of green residential and non-residential buildings, which is anticipated to create a high demand for solar control glass for numerous construction processes. Moreover, the surging demand for solar control glass, followed by the growing construction industry, that is predicted to increase the global control glass market size. The recent data revealed that in 2020, the total spending in the U.S. construction sector amounted to around USD 2 trillion. The global market is primarily driven by the rising awareness of green construction. 450w Panel Solar

Solar Control Glass Market revenue to hit USD 10 Billion by 2033, says Research Nester

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A green building brings positive impacts on the environment by utilizing renewable energy, reducing pollution and waste generation, using non-toxic materials, and improving the quality of the building’s design for the installation of solar panels. Thus, with the rise in the development of green buildings to support sustainable development, it is estimated to bring lucrative growth opportunities for the market. Further, the demand for solar control glass is also anticipated to increase in the next few years owing to rising awareness about the high cost of air conditioning in residential and commercial spaces.

Increasing Skin Cancer Prevalence across the Globe to Boost Market Growth

Rising awareness about skin infections and cancer owing to exposure to harsh sun rays and harmful pollutants has propelled the population to adopt solar control glasses for their vehicles and homes. Thus, the high prevalence of skin cancer is attributed to bringing lucrative growth opportunities for market growth in the upcoming years. As per the statistics revealed by the World Health Organization (WHO), in 2020, over 1.5 million cases of skin cancers, were diagnosed and over 120 000 skin cancer-associated deaths were reported globally. With the rising focus on eliminating carbon emissions, the adoption of solar control glass in automobiles is expected to increase automatically since the incorporation of solar control glass helps in lessening the heat load inside the vehicle and reducing the need for air conditioning. As a result, the mileage of the vehicle increases while fuel consumption is reduced and carbon dioxide emissions decrease. Moreover, the growing consciousness among consumers about environmental protection is propelling them to buy cost-effective and energy-efficient vehicles which are further projected to bring lucrative growth opportunities for the market growth. Recently, the International Organization of Motor Vehicle Manufacturers (OICA), stated that the global sales of vehicle statistics rose to 56 million in 2021 from 53 million in 2020. Whereas, the global production of vehicles was calculated to be 57 million in 2021.

Solar Control Glass Market: Regional Overview

The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.

Technological Advancements and Innovation to Drive the Market Growth in Asia Pacific Region

The solar control glass market in Asia Pacific region is estimated to garner the largest revenue by the end of 2033. Continuous innovation in glass coating technologies has significantly enhanced the performance of solar control glass. Advanced coatings that optimize light transmission while minimizing heat gain have become more accessible. The availability of cutting-edge technologies positions solar control glass as an attractive and efficient solution, driving its increased adoption in the region. Governments in the Asia Pacific region are playing a proactive role in promoting energy-efficient building practices. Stringent regulations and incentives for sustainable construction drive the adoption of solar control glass. Building developers and owners are incentivized to incorporate energy-efficient technologies, and solar control glass emerges as a strategic choice to align with regulatory requirements and achieve energy-saving goals. Various countries in the Asia Pacific region, such as China and India, have implemented ambitious energy efficiency targets. For instance, China aims to reduce its energy intensity by 15% during the 13th Five-Year Plan period.

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Escalating Energy Consumption to Propel the Growth in the North America Region

The North America solar control glass market is estimated to garner the highest CAGR by the end of 2033. As North America experiences a continuous rise in energy demand, the imperative to enhance energy efficiency in buildings becomes paramount. Solar control glass stands out as a strategic solution, mitigating the need for excessive air conditioning and heating. The surge in energy consumption, particularly in urban centers, propels the adoption of solar control glass in commercial and residential constructions. The U.S. Energy Information Administration (EIA) reported a 28% increase in total energy consumption in the United States between 2000 and 2019. North America has witnessed a paradigm shift in construction practices, with a growing emphasis on sustainability and environmentally friendly building designs. Solar control glass aligns seamlessly with these principles, offering architects and developers a practical means to enhance energy efficiency and achieve green building certifications. The surge in LEED-certified projects signifies a broader trend towards sustainable construction practices. Government initiatives play a pivotal role in steering the solar control glass market. Stringent regulations, such as those set by the DOE, mandate higher energy efficiency standards for building components. Solar control glass emerges as a compliant solution, contributing to meeting these standards and fostering energy-efficient building practices across North America.

Solar Control Glass, Segmentation by Application

Amongst these segments, the residential segment in solar control glass market is anticipated to hold the largest share over the forecast period. The rise of smart home technologies has revolutionized residential living. Solar control glass, when integrated with smart home systems, enhances its functionality by allowing homeowners to remotely control the transparency and shading of windows. This integration aligns with the broader trend of homeowners seeking technologically advanced and interconnected solutions, driving the adoption of solar control glass in the residential segment. As of 2021, it is reported that the number of smart homes in North America reached 69.3 million, and the penetration rate would reach 27.5% by 2025. Government initiatives play a pivotal role in encouraging homeowners to invest in energy-efficient technologies. The availability of incentives and rebate programs for solar control glass installations incentivizes homeowners to adopt these solutions. The financial benefits, coupled with the positive environmental impact, contribute to the increased penetration of solar control glass in the residential market.

Solar Control Glass, Segmentation by Type

Amongst these segments, the tempered glass segment in solar control glass market is anticipated to hold a significant share over the forecast period. The global construction boom, driven by urbanization and infrastructure development, fuels the demand for durable and safety-focused building materials. Tempered glass, renowned for its strength and safety features, is increasingly preferred in construction projects. As construction activities surge globally, tempered glass finds widespread application in windows, doors, facades, and interior structures. According to the Global Construction Perspectives and Oxford Economics report, global construction output is projected to grow by 85% to reach USD 15.5 trillion by 2030. The proliferation of consumer electronics, including smartphones and tablets, contributes significantly to the demand for tempered glass. Tempered glass is commonly used as screen protectors due to its scratch resistance and impact absorption properties. As the consumer electronics market continues to expand, so does the market for tempered glass as a protective component for electronic displays.

Few of the well-known industry leaders in solar control glass market that are profiled by Research Nester are Guardian Industries Holdings (Koch Industries, Inc.), Cardinal Glass Industries, Inc., AGC Group, Central Glass Co., Ltd., Saint-Gobain Group, Euroglas GmbH, Nippon Sheet Glass Co., Ltd., PPG Industries, Inc., SCHOTT Group, and other key market players.

Recent Development in the Solar Control Glass Market

Saint-Gobain Group and Ecocem have entered into a joint partnership to develop a new low-carbon cement technology.

AGC Group is all set to produce a float glass range featuring a significantly reduced carbon footprint of less than 7 kg of CO2 per m2 for clear glass (4 mm thickness).

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Solar Control Glass Market revenue to hit USD 10 Billion by 2033, says Research Nester

Solar Module Monocrystalline Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthc