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According to ConsTrack360, global energy efficient glass market is projected to grow at a CAGR of 19.1% to reach US$ 74.9 billion by 2025 from US$ 26.2 billion of 2019.
The projection comes in line with the growing need for greener environment and reduced carbon footprint along the imperative need for better energy efficiency system in the industries such as construction, transportation, automotive and solar panel.
Finding application in construction, transport electronics, power, & other industries, the energy efficient glass industry is expected to grow across all segments. Interestingly, growth and emerging economies are recording strong growth, a trend expected to intensify over the forecast period.
Energy efficient glass market segment of coating and glazing (single, double and triple) are expected to record strong growth during the forecast period. The growth is attributed to the properties of low emissivity, durability and installation ease. While in Europe triple glazing energy efficient glass is gaining market share over double-glazing energy efficient glass, in Asia Pacific market is driven by double glazing glass.
The latest glass also offers properties of thermal insulation, water proofing, and energy conservation, thus becoming an important building material option in the construction industry. The new trend in the construction industry requires glass to offer better natural light along with the ability to manage temperature.
Geographically while North America holds a prominent share with high market penetration, Europe is likely to lead energy efficient glass market during the forecast period with stringent regulatory compliance that includes energy conservation. Emerging economies such as India, Malaysia, Taiwan and Indonesia are witnessing growth owing to the increased construction activities, which further is boosting energy efficient glass market in Asia Pacific.
To know more about changing market dynamics of energy efficient glass industry, send us an email on info@constrack360.com.
