(I-BusinessNews.Com, July 31, 2021 ) Construction Glass Low E market size is forecast to reach $19.5 billion by 2026, after growing at a CAGR of 7% during 2021-2026. Construction glass low E is a type of glass in which, low E refers to a surface condition that emits low levels of thermal radiation. In addition, Low-E, or low-emissivity, glasses were created to minimize the amount of infrared (IR) light and ultraviolet (UV) light that comes through the glass, without minimizing the amount of light that enters the home. However, with the rise in the construction industry specially towards corporate sector, the construction glass low E industry is witnessing an increase in demand. Whereas the construction glasses low E are generally expensive than regular glass, hence could create hurdles for the construction low glass e market.
COVID-19 Impact
The sudden outbreak of coronavirus has had a major impact on global markets as, major economies of the world were in lockdown mode. This has led to decline in the demand for construction glass low E, as many of the infrastructure construction projects were on halt. As an example, according to the American Road & Transportation Builders Association (ARTBA) infrastructure projects totalling more than $9.6 billion have been either delayed or cancelled in the midst of the COVID-19 pandemic. So, the halted construction works has declined the demand for construction glass low E.
Construction Glass Low E Market Segment Analysis – By Glazing
Tripling glazing segment holds the largest share in the construction glass low E market in the year 2020 and is expected to grow at a CAGR of 7.1% during the forecast period. Triple glazing windows has three panes of glass separated by argon gas, due to this it has an extra layer of glass to insulate over double glazing. This extra layer makes it more difficult for heat to escape, allowing effortlessly to maintain the temperature at home. Triple glazed windows are becoming an ever more popular option for windows, particularly in the aluminium space. One of the biggest reasons to change from single pane to double glazed windows is because of the increased energy efficiency that comes with the additional pane of glass. Hence with triple glazing, the energy efficiency is increased again. One of the biggest reasons to change from single pane to double glazed windows is because of the increased energy efficiency that comes with the additional pane of glass. Around a quarter of household heat is lost via windows, so to maximise the insulation here, is crucial to ensure that you are reducing heat loss as much as possible. Heat loss from your home is measured using a U- value. On average single glazing has a U- value of 5.6, double glazing a rating of 2.8, whereas triple glazing can offer a U- value of 0.8. Easy.
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Construction Glass Low E Market Segment Analysis – By Application
Windows and curtain walls sector has been the primary market for Construction Glass Low E in the year 2020 and is expected to grow at a CAGR of 7.4% during the forecast period. Low-E glass stands for low emissivity, whereas emissivity indicates the ability of a material to radiate energy. Low-e glass windows perform much better than normal single glazed windows or normal double-glazed windows. Low-e glass can limit the amount of condensation that may occur due to the temperature difference between the outside and the inside of the building or infrastructure. This glass is one of the most popular and versatile building materials which is used nowadays mainly because of its constantly improving solar and thermal performance. According to the U.S. Census Bureau, non-residential construction has increased as compared to December 2019 to December 2020 by 0.9%. Hence with the growing construction in non-residential areas, the construction glass low e market is driving.
Construction Glass Low E Market Segment Analysis – By Geography
APAC dominated the Construction Glass Low E market in the year 2020 and is expected to grow at a CAGR of 7.2% during the forecast period. China and India are the major countries in this region, owing to the constantly growing privatization, this will also lead to the increased demand for low e glasses in this region. Low-E Insulated Glass is a product which uses one or two pieces of Low-E glass in insulated glass. This product features high light transmittance, low reflectivity, and good heat insulation. According to Indian Brand Equity Foundation, India requires investment worth Rs. 50 trillion (US$ 777.73 billion) in infrastructure by 2022 to have sustainable development in the country. India is witnessing significant interest from international investors in the infrastructure space. For an instance, the largest deal was done by Abu Dhabi Investment Authority, Public Sector Pension Investment Board and National Investment and Infrastructure Fund as they made investment worth US$ 1.1 billion in GVK Airport Holdings Ltd. in FY20. Hence these investments will led to increase in construction projects, thus the construction glass low market has grown.
Construction Glass Low E Market Drivers
Growing Construction Industry
The growing construction around the world is expected the drive the market growth for construction glass low E market. With the increase in infrastructural and commercial construction, the demand for low e coatings or low e glass will automatically increases. According to the U.S Census Bureau, the private construction has increases around U.S by 6.3% in the month of January 2021, as compared with January last year. Hence this tends to drive the market growth for construction glass low E.
Reduces Destructive UV rays
These coatings help to reduce ultraviolet (UV) light. UV light waves are the ones that over the time will fade color on fabrics and probably have felt them at the beach (burning your skin). Blocking UV rays save your carpets, furniture, drapes, and floors from fading and sun damage. Because it resists ultraviolet light, low-E glass prevents sunlight exposure from damaging carpets, draperies, sofas and other furnishings. Plus, low-E glass reduces sunlight glare in a room. The coatings reduce glare and reflect the sun’s heat away from the structure.
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Construction Glass Low E Market Challenges
Expensive than regular glass
One of the major disadvantages of low-e glass is that it is more expensive than regular glass. Windows that are designed to block out UV rays and infrared light are generally going to be more costly than traditional windows. Regular glasses are totally transparent and have almost zero uv protection but because of the high cost of the low E glass, the middle class spending on these are low. They prefer regular glasses and to avoid the sunlight in home, usually curtains were used.
Construction Glass Low E Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Construction Glass Low E market. Major players in the construction glass low E market are Asahi Glass, Saint-Gobain, Nippon Sheet Glass, Xinyui Glass Holdings, PPG Industries, CSG Holdings, Taiwan Glass Industries, Corning Incorporated, among others.
Acquisitions/Technology Launches
In March March 2019, PPG has completed its acquisition of Whitford Worldwide Company (“Whitford”), a global manufacturer that specializes in low-friction and nonstick coatings for industrial applications and consumer products.
In February 2019, AGC has come to an agreement with US-based Taconic to acquire the Advanced Dielectric Division (ADD) and a portion of the Industrial Products Division (IPD) of Taconic (the Transaction).
Key Takeaways
Asia-Pacific dominates the Construction Glass Low E market owing to increasing demand from various End Use Industry such as educational institutes, Healthcare facilities and others.
The growing construction towards corporate sector around the world, is likely to aid in the market growth of construction glass low E market.
The rise in demand for low E coating for improved solar and thermal performance will eventually drive the market during the forecast period.
However, these glasses are expensive than the regular glasses, which creates hurdles for the construction glass low E market.
Related Reports:
A. Low-e Glass and Coating Market
https://www.industryarc.com/Research/Low-e-Glass-And-Coatings-Market-Research-503083
B. Construction Glass Market
https://www.industryarc.com/Report/15882/construction-glass-market.html
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