The global coated glass market size is anticipated to reach USD 57.3 Billion until 2027. It is anticipated to register growth with 8.8% CAGR during the forecasted period, 2020 to 2027. This growth can be associated with increasing awareness regarding the construction of green buildings for proper air and light ventilation.
The soft segment of coating registered fastest CAGR of 9.3% from 2020 to 2027 on account of its feature reducing the transmission of U.V. radiation by 70%. The hard type coating segment gains an advantage over soft coating due to less cost of production.
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The application segment of architecture dominated the global market with a share of 92.5% due to rising awareness about global warming, energy efficiency, and increasing green building construction. On the other hand, the automotive application segment held second-largest share owing to several initiatives being undertaken by governing bodies for the usage of such glasses in automobile manufacturing.
Asia Pacific is expected to witness highest CAGR of 7.0% from 2020 to 2027 owing to several features like rapid economic growth, increasing disposable income and development across the construction industry. North America also contributed to a significant share in the global market in 2019 on account of surging number of commercial buildings and complexes which are installing coated glass across facades and windows.
The coated glass market includes key players such as AGC Inc.; Vitro; CEVITAL GROUP; Nippon Sheet Glass Co., Ltd; and Saint-Gobain S.A. These players are engaged in product development and innovation to gain a competitive advantage over other players. Also, several marketing strategies like capacity expansion, mergers, and acquisitions are being carried out by these manufacturers to widen their product reach and product portfolio.
Further key findings from the report suggest:
• Segment of soft coating registered highest CAGR of 9.3% during the forecasted period.
• Architectural application segment dominated the global market with share of 92.5% in 2019.
• The Asia Pacific is expected to witness highest CAGR of 7.0% from 2020 to 2027 across the global market.
Global Coated Glass Market: Key Players
Vitro; CEVITAL GROUP; Nippon Sheet Glass Co., Ltd; AGC Inc.; Saint-Gobain S.A.
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