The Global Coated Glass Market was valued at USD 33.32 in 2020 and is expected to reach USD 56.43 Bn by 2027, with a growing CAGR of 8.2% during the forecast period.
Coated glass is an industrial type of glass in which metal oxides are sprayed in thin coats ranging from 0.01 to 0.8 µm thick. The coating is manufactured by using a stack of sub-coatings of different types and thicknesses. Coated glass modifies the behavior of the glass with respect to solar radiation, in the visible and infrared fields. Its major application includes reducing solar heat gain and improving solar performance in residential and commercial projects.
Growing demand for solar panels across the globe is expected to drive the coated glass market during the forecast period. Glass coatings boast the ability to reduce light reflectiveness from the solar panels by up to 3% to 6%. This in turn leads to an increase in the solar energy output obtained from the glass-coated solar panels. For instance, the upcoming global solar project “Green Grids Initiative” sponsored by India and China is expected to boost the coated glass industry growth in the near future.
Additionally, the increasing demand for heat-reflective glass in buildings is expected to drive the coated glass demand till 2027. For instance, by using the chemical vapour deposition method heat-reflective glazing glass solution is known as Super Silver. This provides protection from the UV rays and cuts out the solar heat, thus providing optical comfort. Moreover, Xinyi Glass (China) a heat reflective glass manufacturer generated revenue of 2,212,161 HK $ (USD 2,83,641) from the architectural segment. Nevertheless, high costs of coated glass may hamper the coated glass sector growth throughout the forecast period.
The unique insights provided by this report also include the following:
Based on type, the sputter-coated glass segment held the largest market share in 2020 and is expected to grow significantly during the forecast period due to its high solar & thermal protection
Based on type, the market has been segmented into pyrolytic coated glass, and sputter-coated glass, finishing chemicals, the sputter-coated glass segment in the coated glass industry accounted for the largest market share in 2020 and is expected to grow significantly during the forecast period. Sputter coated glass provides excellent thermal & sunlight protection. Moreover, many sputter coatings are used in buildings and other residential projects. For instance, a new age of glass has created new opportunities for architects and designers in the US and Canada. The Sysco Building in Cleveland, Ohio, glazed with Pilkington’s Eclipse Advantage Reflective Low-E Glass.
Based on application, the automotive segment in the coated glass market is growing at the highest CAGR during the forecast period owing to its demand from millennials
Based on application, the market has been segmented into automotive, aerospace & defense, optical, architectural, and others. The increasing demand for Infrared and UV radiation coatings in the automobile sector is poised to drive the coated glass market demand in the near future. For example, the cut-on wavelengths of Kopp's IR transmitting absorbing glasses are precisely tuned to achieve the high IR transmission while minimizing visible light interaction. Additionally, 3M provides window tint to help block harmful UV rays, and 3M recorded a pre-tax gain of $12 million ($10 million after-tax) related to the sale of its abrasive glass products business in 2018.
Based on region, Asia-Pacific is expected to hold the largest market share during the forecast period owing to the economic development
Based on region, the global coated glass market is categorized into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. In 2020, Asia-Pacific held the largest market share in the coated glass market owing to the presence of several manufacturers such as Saint-Gobain, others. New property projects and the growing sales volume of glass goods grew steadily during the year 2021. For instance, Zhangzhou Development Zone Shuangyu Island Secondary Development initiated in November 2021, which is valued at $4,335 Mn may support the market growth in the near future.
This construction project's completion slowed marginally due to the negative impact of the COVID-19 pandemic. Since the second quarter of the year, this favourable trend has bolstered demand for energy-saving such as the use of Low-E glass in the construction sector, as a consequence, the region has maintained a steady increase in architectural glass sales, aided by an aggressive marketing approach and a broad variety of value-added and innovative structural glass products. Following the COVID-19 outbreak, China's coated glass sector has seen considerable demand, as seen due to the rise in average selling prices. The market's robust recovery since ‘May’ has more than compensated for the decline in the first quarter of the year 2021.
The report also provides an in-depth analysis of coated glass market dynamics such as drivers, restraints, opportunities, and challenges
Covid-19 caused devastation to the global coated glass industry. To comply with government-mandated lockdowns, several manufacturers had to temporarily suspend operations. Automobile manufacture was halted, and building construction was slowed down. For instance, especially the United States was not protected from these obstacles, the sector began to rebound in the second half of 2020. Construction spending grew in the United States because it was designated an important service. The upsurge in residential development activity, in particular, was noted. New private house projects increased by 6.7 % in 2019 according to the US Census Bureau, is projected to support the market demand in the near future.
Additionally, Europe's exports for glass sector fell by ~4% in the first half of 2020, to EUR 4.5 billion from EUR ~5 billion at the same time last year. Domestic and international revenues both fell by ~5% and 2%, respectively. Reduced demand for tableware glass damaged the hollow glass market, while decreased automobile manufacturing impacted the hollow glass segment.
Other glass manufacturers have benefited from the covid-19 pandemic. Due to the lockdowns, more individuals are dining at home, which has increased the demand for food and drink containers. (Food and beverage packaging accounts for 90% of glass containers. Meanwhile, hospitals and pharmacies have seen an increase in demand for medicine bottles and glass vials, including those required for administering the COVID-19 vaccine.
The report also provides an in-depth analysis of key trends in the coated glass market
The report also provides an in-depth analysis of recent news developments and investments
The key players operating in the coated glass market are:
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.