Analysis by Coating Method (Hard Coated, and Soft Coated); by Type (Float Glass, Heat Strengthened Glass, Laminated Glass, Tempered Glass, and Others); by Nature (Electrochromic, Photochromic, Gasochromic, and Others); by Application (Residential, Commercial, Automotive, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033
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The global solar control glass market is estimated to garner a revenue of ~USD 10 Billion by the end of 2033 by growing at a CAGR of ~9% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 5 Billion in the year 2022. The major factor that is attributed to the market growth is the rising construction industry along with the expansion of green residential and non-residential buildings, which is anticipated to create a high demand for solar control glass for numerous construction processes. Moreover, the surging demand for solar control glass, followed by the growing construction industry, that is predicted to increase the global control glass market size. The recent data revealed that in 2020, the total spending in the U.S. construction sector amounted to around USD 2 trillion.
The global market is primarily driven by the rising awareness of green construction. A green building brings positive impacts on the environment by utilizing renewable energy, reducing pollution and waste generation, using non-toxic materials, and improving the quality of the building’s design for the installation of solar panels. Thus, with the rise in the development of green buildings to support sustainable development, it is estimated to bring lucrative growth opportunities for the market. Further, the demand for solar control glass is also anticipated to increase in the next few years owing to rising awareness about the high cost of air conditioning in residential and commercial spaces. In addition to the aforementioned factors, rapid urbanization, the escalating focus on reducing carbon dioxide emissions, growing awareness about climate change, along with the rapid expansion of smart construction activities are some of the other growth factors that are projected to create a positive outlook during the forecast period.
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~9% |
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Base Year Market Size (2022) |
~ USD 5 Billion |
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Forecast Year Market Size (2033) |
~ USD 10 Billion |
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Regional Scope |
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Growth Drivers
Growth of Skin Cancer – Rising awareness about skin infections and cancer owing to exposure to harsh sun rays and harmful pollutants has propelled the population to adopt solar control glasses for their vehicles and homes. Thus, the high prevalence of skin cancer is attributed to bringing lucrative growth opportunities for market growth in the upcoming years. As per the statistics revealed by the World Health Organization (WHO), in 2020, over 1.5 million cases of skin cancers, were diagnosed and over 120 000 skin cancer-associated deaths were reported globally.
Growth in Demand for Vehicles Worldwide – With the rising focus on eliminating carbon emissions, the adoption of solar control glass in automobiles is expected to increase automatically since the incorporation of solar control glass helps in lessening the heat load inside the vehicle and reducing the need for air conditioning. As a result, the mileage of the vehicle increases while fuel consumption is reduced and carbon dioxide emissions decrease. Moreover, the growing consciousness among consumers about environmental protection is propelling them to buy cost-effective and energy-efficient vehicles which are further projected to bring lucrative growth opportunities for the market growth. Recently, the International Organization of Motor Vehicle Manufacturers (OICA), stated that the global sales of vehicle statistics rose to 56 million in 2021 from 53 million in 2020. Whereas, the global production of vehicles was calculated to be 57 million in 2021.
High Level of Carbon Dioxide Emission – International Energy Agency revealed the data on carbon dioxide emission to be 36.3 gigatons in 2021, a 6% increase from the previous year globally.
Rapid Development in the Real Estate Sector – The real estate sector is recovering as the global pandemic recedes. As per recent estimates, the revenue generation of real estate companies worldwide stood at approximately USD 10 billion in 2021.
Challenges
The global solar control glass market is segmented and analyzed for demand and supply by application into residential, commercial, automotive, and others. Out of these, the residential segment is attributed to garner the highest market share by 2033, owing to the high demand for residential properties by the burgeoning population. The United States Census Bureau stated that there were around 142,153,010 housing units in the U.S. as of June 2021. Also, the growing concept of residential energy management through the rising air conditioning costs and growing awareness to save energy bills are supporting the segment’s growth. Moreover, the recent trend of repairing and renovating residential buildings in developing economies is estimated to make solar control glass an attractive choice for ensuring sufficient natural light in the rooms while eliminating the penetration of harmful UV rays and excess heat, which avoids discoloration of furniture and skin disorders.
On the other hand, the commercial segment is also considered to hold a significant share with a steady CAGR. With rapid industrialization and urbanization across the world, there has been a rise in the construction of commercial buildings, including malls, corporate offices, industrial factories, and others, making solar control glass an ideal match to regulate the temperature of the indoor environment during the summer. Furthermore, constant government support is estimated to increase the sales of solar control glass in the upcoming years. For instance, government initiatives such as “Make in India” and the implementation of the “Real Estate Regulatory Authority (RERA)” are boosting the commercial real estate sector in India, which is anticipated to positively contribute to segment growth.
The global solar control glass market is also segmented and analyzed for demand and supply by type into float glass, heat-strengthened glass, laminated glass, tempered glass, and others. Out of these, the tempered glass segment is attributed to holding the largest share by the end of the forecast period. The rising awareness about the advantages offered by tempered glass, such as ease of cleaning, high strength, and increased safety as compared to other types of solar control glass, is considered to be the major factor for segment growth. Generally, the components used to manufacture tempered glass have high strength, which makes it six times stronger than conventional solar control glass, which makes it an ideal option in the construction of new buildings.
Our in-depth analysis of the global solar control glass market includes the following segments:
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By Coating Method |
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By Type |
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By Nature |
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By Application |
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The Asia Pacific solar control glass market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033, owing to the rapid expansion of the construction industry in the region. The building construction industry in Asia Pacific is expected to reach at a value of USD 3 million by 2024. Further, the high disposable income of the burgeoning population in Asia Pacific is expected to increase the demand for non-residential and residential building construction, which is further anticipated to bloom the global solar control glass market. It was calculated that Asia Pacific was the largest region in the global non-residential building construction market, accounting for 43% of the total in 2021.
On the other hand, the market in North America is also estimated to hold a noteworthy share during the assessment period. The large investments made by the government in construction development, along with the rising need for repair and renovation in many buildings in the region, are anticipated to drive the market. Rising support for adopting energy-saving technologies and stringent regulations for carbon emissions are further generating the demand for solar control glass. Moreover, the surging demand for electric vehicle in the region is increasing the demand for solar control glass, and it is anticipated to boost the market’s growth in the region.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: The rising construction industry along with the increased demand of residential and non-residential building is expected to bolster the market growth.
Ans: The market is anticipated to attain a CAGR of ~9% over the forecast period, i.e., 2023 – 2033.
Ans: The increased investment in production along with high costs of solar control glass and unstable price of raw materials used are some of the factors that are expected to hamper the market growth.
Ans: The market in Asia Pacific is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.
Ans: The major players in the market are Guardian Industries Holdings (Koch Industries, Inc.), Cardinal Glass Industries, Inc., AGC Group, Central Glass Co., Ltd., Saint-Gobain Group, Euroglas GmbH, Nippon Sheet Glass Co., Ltd., PPG Industries, Inc., SCHOTT Group, Şişecam, and other key players.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by type, coating method, nature, application, and by region.
Ans: The residential segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
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