Flat Glass Coatings Market Report 2020-2030
Market Growth Propellers
Increasing Demand for Solar Glass
The need for energy has been increasing worldwide. Continuously increasing energy prices are posing challenges for energy consumption. This results in the production of energy from renewable sources, which is also in high demand. Innovative concepts have to be developed mainly in countries, such as India and China, where the supply of energy has to meet the growing population. Solar energy has become a significant energy source and market, which is expected to grow at a rate up to 30% by 2030. All developed and developing countries are focusing on a solar energy module industry to generate electricity and overcome the high demand for energy.
Shorter Lead Times for Fast-Track Projects
Fast-track scheduling is widely used for industrial and commercial construction. Recently, it has extended to the construction of educational, health and government-owned facilities. This technique increases the use of flat glass coatings in the construction industry. This broader application stems from the present cost growth within the construction industry, which culminated in fixed construction budgets for customers. This will affect their purchasing power in the time it takes to complete a construction project. Construction costs have been increasing at approximately 12-15% per year.
Challenges in the Market
Increasing Cost of Energy
Energy and raw materials account for a significant share of production costs in the glass manufacturing process, followed by labor cost and overheads. The raw materials for manufacturing glass include sand, dolomite, soda-ash, limestone, sodium sulphate, etc., which account for 40% of the total flat glass production cost. It is not feasible for most of the products to be transported more than about 500 Km as glass is fragile. Extra caution and handling costs (approximately 15%) are incurred during the transportation of flat glass. Overhead and labor charges account for 6% and 9%, respectively, while the energy consumed via electricity, gas and other power sources account for 30% of the total float production cost.
Low Rate of Renovation in Europe and North America
Demand for residential and commercial buildings is growing slowly. There is a need to reduce the energy used in existing buildings. This requires a holistic approach to the renovation of buildings with proper thermal insulation and solar energy control. In order to substantially improve energy efficiency buildings, renovation rates should increase significantly. However, in Europe (one of the major construction industry markets), the current renovation rate is less than 1% per annum after the economic crisis.
Market Segments Covered in the Report
Global Market Breakdown by Type of Resin
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