PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1682813
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1682813
The global solar control glass market is experiencing robust growth, driven by the increasing focus on reducing carbon emissions and the adoption of sustainable building practices. In 2024, the market size is estimated at USD 7.2 billion and is projected to reach USD 15.4 billion by 2032, advancing at a compound annual growth rate (CAGR) of 10.1% during the forecast period.
This growth is primarily attributed to the rising construction of green residential and non-residential buildings, which support sustainable development by utilizing renewable energy, reducing pollution and waste, and improving design quality for solar panel installations. Additionally, there is a growing awareness about the high cost of air conditioning units in residential and commercial spaces, leading to an increased demand for solar control glass to tackle changing climatic conditions.
Key Insights
Solar control glass ensures natural light penetration while preventing harmful UV rays from entering interiors, thereby avoiding furniture discoloration. It also reduces heat transmission, leading to energy bill savings, and provides proper insulation during winter by preventing cold air infiltration, creating a pleasant indoor environment.
Supportive government policies encouraging the creation of green buildings to lower electricity consumption are bolstering the market. As consumers become more aware of the negative environmental impacts of HVAC systems, there is a growing trend toward environmentally friendly products like solar control glass.
Europe holds the largest market share, attributed to stringent environmental regulations and a strong emphasis on sustainable construction practices. The Asia-Pacific region is anticipated to witness the fastest growth, driven by increasing construction of residential and commercial buildings, as governments focus on infrastructure development for commercial spaces, which can eventually drive the demand for solar control glass.
The market is segmented by application into residential buildings, commercial buildings, and automobiles. Commercial buildings represent the largest application category, reflecting the significant use of solar control glass in this sector.
The market is fragmented due to the presence of numerous international, regional, and local companies. Major companies include Cardinal Glass Industries Inc., Central Glass Co. Ltd., Compagnie de Saint-Gobain S.A., Koch IP Holdings LLC, PPG Industries Inc., AGC Inc., Corning Incorporated, SCHOTT AG, Nippon Sheet Glass Co. Ltd., Sisecam, CSG Holding Co. Ltd., and Xinyi Glass Holdings Limited.