Solar Reflective Glass Market to be dominated by Reflective segment through 2028
Construction
activities are growing, thereby increase in construction spending leads to an
increase in residential construction, the market is predicted to continue
growing globally to drive Global Solar Reflective Glass Market in the forecast
period, 2023-2028.
According to
TechSci Research report, “Global Solar
Reflective Glass Market - By Region,
Competition, Forecast & Opportunities, 2028”, Global Solar Reflective Glass Market is
anticipated to grow at a 7.58% CAGR in the forecast period, 2024-2028, driven
by the growing focus of the global construction sector towards sustainability. A
solar reflective glass is a glass with a special coating designed to reduce the
amount of heat entering a building. It reflects and absorbs heat as well as
filters light for reduced glare. Using a solar reflective glass can reduce the
need for air conditioning and blinds. In addition, ordinary glass allows nearly
80% of visible light, heat, and ultraviolet radiation to pass through without
being absorbed or reflected. This results in soaring energy costs and
discomfort for the building's occupants. Reflective glass on the other hand
allows optimum natural daylight through, thereby improving occupants' health
and well-being. Moreover, it reduces the energy used in artificial lighting,
resulting in significant savings in electricity costs and it even blocks
UV-rays.
The cost-effectiveness of the glass makes it easily replaceable with
conventional glass in windows, roofs, skylights, and other parts of building
structures. In addition to maintaining a comfortable indoor temperature by
dispersing heat from sunlight, it also reduces the amount of glare created by
the reflective surfaces of buildings. Many world governments are introducing
supportive measures for financing energy-efficiency upgrades in the
construction sector, to bolster the industry scenario. Back in fact, in
November 2022, the U.S. government announced an investment of over USD 250
million to fund energy-efficiency upgrades in buildings.
the development of automotive, construction, and aeronautical
industries across the developing countries, such as Brazil, China, and India
have propelled the demand for solar reflective glasses, which, in turn, led to
increase in demand for solar reflective glass and may act as the major factor
for the solar reflective glass market growth. Furthermore, rapid expansion in
decoration of glass in exteriors of house has led to increase in the demand for
solar reflective glass however, rise in urbanization acts as the major driving
factor for the market growth. Another key factor impacting the growth of the
solar reflective glass market is increase in usage of solar reflective glass in
automotive industry as it reduces substantial share of sunlight and declines
the amount of heat entering into the car.
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Based on Type, Global
Solar Reflective Glass Market is segmented into— Reflective, Absorptive. Reflective
Segment to Dominate the Market, based on type reflective is the fastest growing
segment during the forecast period. This is attributed to Surge in demand for
reflective glass from construction industry led to increase in the production
of solar reflective glass market, which act as the major driver of the market.
Based on Region, Asia
Pacific region is expected to dominate the market for Solar Reflective Glass
during the forecast period. Based on region Asia-Pacific is the fastest growing
segment during the forecast period. Owing to Strong demand for solar reflective
glass from Asia-Pacific due to high population density may act as the major
driving factor for the market. In addition, Russia, India and China are the
major players of Asia in glass industry, which, in turn, has boosted the demand
for solar reflective glass. Back in 2021, India’s second largest float glass
manufacturer, Gold Plus Glass Industry announced plans to set up a construct a
solar glass factory. As per the firm, the facility will have the capacity to
produce more than 300 tons of glass per day and will be operational in
September of 2023.
Major companies
operating in the Global Solar Reflective Glass market are:
- Magna Mirrors Holding GmbH
- e-Chromic Technologies Inc.
- Polytron Technologies Inc.
- Ravenbrick Llc,
- PPG Industries Inc.
- Asahi Glass Co. Ltd.
- Chromogenics AB
- Heliotrope Technologies Inc.
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“The global Solar
Reflective Glass market is driven by several key factors that shape its growth
and development. The global Solar Reflective Glass market is
propelled by several compelling drivers that reflect the growing importance of
energy efficiency, sustainability, and environmentally responsible building
practices, The rising global concern for energy conservation and the reduction
of greenhouse gas emissions is driving the demand for Solar Reflective Glass.
It excels in optimizing the energy performance of buildings by reducing heat
gain during hot weather, thus diminishing the need for energy-intensive cooling
systems. This aligns perfectly with the worldwide push for greater energy
efficiency. Sustainable building design and construction are now integral to
the industry. Solar Reflective Glass plays a pivotal role in green building
practices by enhancing a building's thermal performance and reducing its
overall carbon footprint. Architects and developers increasingly incorporate it
into their projects to meet sustainability goals and certifications.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
Solar Reflective Glass Market – Global
Industry Size, Share, Trends, Opportunity, and Forecast Segmented by Type (Reflective, Absorptive), by
Coating Method (Hard Coated, Soft Coated), by Application (Automotive,
Residential, Commercial), By Region, Competition, 2018-2028”, has evaluated
the future growth potential of global Solar Reflective Glass market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision-makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the global Solar Reflective Glass Market.
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