About Construction Glass
Construction glass is a translucent glazing material, which is mainly used in external walls and windows as a building material. It has many chemical and physical properties, such as thermal insulation, solar control, safety and security, fire resistance, noise control, chemical resistance, electric resistance, interior design, flexible molding, and stability in changing climatic condition. The construction sector is one of the major end-users of glass. Almost 80% of flat glass manufactured is used in construction applications. Benefits such as safety, security, environmental protection, and natural insulation, offered by such architectural glass are leading to its steady rise in use, both in commercial and residential buildings.
Technavio’s analysts forecast the global Construction Glass market to grow at a CAGR of 5.98% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global construction glass market for 2017-2021. To calculate the market size, the report considers the demand for the product from key regions.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Construction Glass Market 2017-2021
Technavio recognizes the following companies as the key players in the global construction glass market: Asahi Glass, Nippon Sheet Glass, Central Glass, Saint-Gobain, and SCHOTT.
Other Prominent Vendors in the market are: AGNORA, Bendheim Glass, China Glass Holdings, China Specialty Glass, DB Glass, J.E. Berkowitz, PPG Industries, Sisecam Group, and Xinyi Glass Holdings.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Growing trend of skyscrapers. In 2016, it was estimated that more than 100 buildings of 200 or more meters in height worldwide had set a new record for annual tall building completions. There is a growing trend of tall building constructions across the world. For instance, the tallest building completed in 2016 was the 530-meter-high Guangzhou CTF Finance Centre in China. China and the US have the most number of skyscrapers in the world. It is estimated that China has the most 200-meter-plus skyscraper completions, which total to 84 at present and this trend is likely to grow in many other Asian countries.”
According to the report, one of the major drivers for this market is Need for energy efficient buildings. Energy has become a crucial area for all countries to mitigate the effects of climate change. In buildings, the design and the construction materials have a direct impact on the heating, cooling and lighting needs. When the building façade is directly exposed to sunlight, it gradually heats up and transfers this heat inside. This usually increases the need for air conditioning for cooling and comfort, resulting in the rise of energy consumption. Residential and commercial buildings worldwide account for a major share of electricity consumption. For instance, In India, residential electricity consumption makes up for around one-fourth of the country’s total electricity consumption and is expected to increase six-fold by 2030. However, the impact can be reduced to 20%-25% by adopting energy efficient measures. Glass is believed to be one of these measures that contribute significantly to energy efficiency in buildings. Glazing can help achieve the best energy performance and minimize the overall environmental impact.
Further, the report states that one of the major factors hindering the growth of this market is High competition among vendors. The construction glass industry generates billions of dollars in revenue each year but on the other hand, the industry faces a number of challenges, and one of them is the highly saturated nature of the market. There is a very high market concentration in the construction glass industry, especially in densely populated urban centers, which often account for the highest growth in the construction sector. The majority of construction glass applications come from skyscrapers, which are usually more relevant to urban areas, owing to the shortage of space.
Asahi Glass, Nippon Sheet Glass, Central Glass, Saint-Gobain, and SCHOTT.AGNORA, Bendheim Glass, China Glass Holdings, China Specialty Glass, DB Glass, J.E. Berkowitz, PPG Industries, Sisecam Group, and Xinyi Glass Holdings.