According to the latest market study released by Technavio the market size of construction glass is expected to reach USD 111 billion by 2020.

The research report is titled global construction glass market 2016-2020 and provides an in-depth analysis of revenue and emerging market trends. The research report also includes up to date analysis and forecast estimates for various market segments and geographical regions.

“Increase in shopping mall and hotel construction will spur the demand for construction glass globally. Further, the market study anticipates an increase in tourist arrivals in countries such as India, Turkey, Malaysia, UAE, Qatar, the US, and Germany to propel investments in new hotel constructions to increase the demand for construction glass,” says Technavio lead construction research analyst Soumya.

“The growing prominence of green buildings worldwide is compelling glass manufacturers to come up with unique features. Building owners and construction firms are increasingly focusing on energy saving glass that acts as an excellent insulator to buildings. Solar controlled glass, and double and triple glazed glass are now increasingly being used by architects, particularly in the developed world, whereas in emerging economies the market is still in a nascent stage,” adds Soumya.

The construction glass market in APAC is the largest in the world, accounting for close to 57% of the total market share. Technavio estimates that APAC will continue to witness huge growth during the forecast period as a result of rising demand for green buildings and growing prominence of skyscrapers in the region.

The global construction glass market is segmented by three end-user types:

  • New buildings
  • Retrofit buildings
  • Others

New buildings

The new buildings segment includes both residential and commercial buildings such as apartments, offices, retail malls, educational institutes, healthcare facilities, and hotels. In 2015, new buildings were the leading end users in the market, accounting for nearly 50% in the share, states the market study by Technavio.

Globally, the building construction sector is witnessing high growth, specifically from the residential construction market. The APAC region in particular is witnessing a huge demand for new residential units. Countries such as India and Japan are augmenting the demand for construction glass. Rising demand for green buildings in residential and commercial segments is predicted to provide significant impetus to the adoption of energy-efficient glass during the forecast period.

Retrofit buildings

The demand for retrofit buildings is also gaining huge prominence globally. Buildings (both residential and commercial) account for approximately 40% of the energy consumed worldwide. Increased awareness about the carbon footprint is therefore leading to retrofitting old buildings by incorporating energy efficient practices into them. Providing a vital boost to the construction glass market, governments in countries such as India, Germany, Japan, and China are planning to invest heavily in retrofitting buildings over the next four years. Therefore, replacement of ordinary building glass with energy efficient glass is expected to drive the market for construction glass, notes Technavio lead analyst Soumya.

The others segment includes show rooms and home interiors. Consumers today are highly focused on home interiors, and this trend is leading to demand for new designs in the glass segment, states the report.

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