The Coated Glass Market research report also explores future trends for supply, demand and market growth rate, market size, prices, trading, competition and value chain as well as Key Players of the Glucose Sensors industry’s information with forecast from 2019 to 2024.
Thriving on the cusp of energy efficiency that has emerged as the pivotal need of the hour as on today, coated glass market has garnered appreciable momentum since the last few years. In fact, with the growing trends of urbanization and industrialization, the demand for coated glass as a viable building material has been increasing. In this regard, the rising utilization of sustainable and energy efficient facilities in smart city projects and other construction developments would thus have a major impact on coated glass industry share.
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It is undeniable that the shifting trends toward the development of green buildings will massively boost coated glass market, as the product ensures low energy consumption and cost minimization. Lightweight solar control glass in fact is prominently used in the automotive and construction sectors, as it tends to reduce the usage of energy. It also curbs the usage of air conditioning equipment, pertaining to its capability to act as a thermal barrier and restricts UV and other infrared rays from entering buildings. With rapidly changing climatic conditions in tow, coated glass is being massively used to minimize heat. On these grounds, major giants in coated glass industry are looking forward to embedding solar cells in glass for producing electricity by utilizing solar energy.
In order to achieve revenue benefits and capture more business space, most of the players in coated glass market are focusing on increasing productivity by minimizing manufacturing time and improving product quality. In this regard, they are increasingly deploying automated systems for enhancing the glass fabrication process. Research and development activities are also rampant across this business space to bring forth a range of highly innovative products.
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For instance, recently, the researchers of VanadiumCorp Resource Inc., have developed an innovative, energy saving smart glass comprising vanadium as a coating material that saves more energy by restricting IR radiations from the sun to enter into building and preventing loss of heat during the winter season. This vanadium coated glass offers numerous benefits such as anti-glare, energy saving, and self-cleaning capability.
As of now, in order to combat the challenges posed by global warming, many regional governments, mainly across the Asia-Pacific have been undertaking numerous initiatives to adopt sustainable technologies. For instance, the Singapore government has decided to increase energy efficiency with the deployment of smart-tinting windows across residential as well as commercial sectors. Currently, it is planning to install smart glass on nearly 12 buildings by 2021, as smart tinting windows can reduce at least 20% of the energy consumption of every building. The increasing popularity of tinting windows for minimizing the load on HVAC systems of buildings is poised to propel coated glass industry share over the years ahead.
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The massive tech-based developments in industry are likely to have a significant impact on the overall industry trends. The increasing acceptance of energy efficient smart technologies and the unwavering commitment of regional governments toward carbon reduction, energy savings, and sustainability are also slated to commendably boost the product demand. If estimates are to be believed, coated glass market size, by the end of 2024, will surpass a valuation of USD 24.5 billion.
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