Selbyville, Delaware,, March 23, 2023 (GLOBE NEWSWIRE) —
The architectural flat glass market valuation is anticipated to reach USD 230 billion by 2032, as reported in a research study by Global Market Insights Inc.
Rising demand for solar panels fueled by the increasing deployment of renewable energy sources will foster an architectural flat glass industry outlook. The accelerating climate change and growing concerns about limiting carbon and GHG emission levels have prompted governments and authorities globally to fasten their clean energy transition. In addition, the looming market uncertainties and energy security concerns caused as a result of sanctions imposed on Russia have triggered the requirement to enhance energy efficiency and boost the adoption of renewables.
According to the International Energy Agency, the annual renewable capacity additions, including wind and solar PV, exhibited unparalleled growth in 2021, rising 6% to almost 295 GW, despite pandemic-driven supply chain constraints, mounting commodity prices for raw materials as well as construction delays. These optimistic scenarios are expected to bolster solar panel sales, which, in consequence, will strengthen the architectural flat glass market share.
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With regard to the product category, the laminated segment valued at USD 30 billion in 2022. Laminated glass finds extensive usage across the building sector owing to its improved safety and security, decreased emissions and noise pollution, and protection from natural calamities. Besides, these glasses can efficiently reduce solar heating, thus, keeping the interiors of buildings cool and using less energy. Furthermore, their ability to remain intact in the event of natural disasters like hurricanes or earthquakes and limit the rate of deaths and injuries will further accelerate laminated flat glass market.
Architectural flat glass market revenue from the online sales channel to crossed USD 15 billion in 2022. The segment growth can be attributed to the mounting popularity of e-commerce platforms among customers as well as businesses & service providers. Additionally, the increasing internet and smartphone penetration, coupled with several technological improvements and the introduction of numerous user-friendly features, such as rich product descriptions, real-time tracking, and hassle-free return and cancellation policies, will augment segment development.
Regarding the application, the new construction segment amassed nearly USD 54 billion in 2022. The rapid urbanization in developed and developing economies has resulted in the expansion of existing commercial and residential infrastructure, contributing to segment share. The deployment of flat glass enables the entry of natural light into a structure, thereby lowering the demand for artificial lighting and raising energy efficiency. The stringent energy-efficiency norms across numerous countries will further foster product adoption.
The industrial end-use segment of the architectural flat glass market is poised to exhibit gains at nearly 5.5% between 2023 and 2032. The popularity of flat glass in industrial applications can be credited to the fast-paced industrial growth in high and middle-income economies. The frequent product usage in the production of tailored energy-efficient and environmentally friendly solutions due to its compatibility with insulation and temperature control coatings will benefit the market expansion.
The North America architectural flat glass market is estimated to observe over 6% CAGR between 2023 and 2032. On account of the increasing government investments in residential construction projects in major regional economies such as the U.S. and Canada. Moreover, the rising environmental concerns regarding waste management associated with the use of conventional construction materials, coupled with the ability of flat glass to be recycled, will further open untapped growth opportunities for flat glass from the construction sector.
AGC Inc, Vitro Architectural Glass, Guardian Glass LLC, Dillmeier Glass Company, Saint Gobain North America, Syracuse Glass Company, Trulite Glass and Aluminum Solutions, Cardinal Glass Industries, Corning Incorporated, Schott AG, and Paragon Tempered Glass, LLC are some of the notable players in the architectural flat glass market These companies have been actively working on leveraging novel technologies to introduce sustainable and eco-friendly products and strengthen their global foothold.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Global architectural flat glass industry 3600 synopsis, 2022 – 2028
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Product trends
2.1.4 Sales Channel trends
2.1.5 Application trends
2.1.6 End-use trends
Chapter 3 Global Architectural Flat Glass Industry Insights
3.1 Industry segmentation
3.2 COVID-19 impact on the world economy
3.3 Industry ecosystem analysis
3.4 Raw material analysis
3.5 Regulatory landscape
3.6 Technology landscape
3.7 Pricing analysis
3.8 Industry impact forces
3.8.1 Growth drivers
3.8.2 Industry pitfall & challenges
3.9 Innovation & Sustainability
3.10 Growth potential analysis, 2021
3.11 Porter’s analysis
3.12 PESTEL analysis
3.13 Impact of COVID-19 on architectural flat glass demand, by application
3.14 Impact of the Russia-Ukraine War on the architectural flat glass market
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.