Portland, OR -- (SBWire) -- 10/25/2017 --Global Construction Glass Market size was valued at $76,036 million in 2015 and is expected to reach $121,877 million by 2022, growing at a CAGR of 7.1% during the forecast period. Construction glass is a translucent coating material utilized for glass doors, glass windows, and transparent walls. The glass possesses properties such as thermal insulation, waterproofing, and energy conservation, thus making it a viable option as a building material in construction businesses. Asia-Pacific dominates the construction glass market throughout the forecast period due to growth in regulations and infrastructure development in emerging countries such as India, China, Indonesia, and others. Major players focus on the development of energy-efficient glass products to reach wider customer base.

Construction glass possesses numerous physical and chemical properties such as electric resistance, chemical resistance, and flexibility in molding, and is unaffected by changes in climatic conditions, thus, fueling the growth of the construction glass market. Increase in adoption of energy-saving products with new infrastructural and construction projects in the developed and developing regions has supplemented the market growth of Low-E glass market. In addition, construction glass helps to increase the influx of natural light in the building and meets the need of energy-efficient temperature management. Low-emissivity property of glass is used in advanced glazing solutions to significantly reduce the need for heating and cooling in the buildings, consequently reducing energy consumption and associated CO2 emissions. However, high costs associated with raw materials and economic downturn restrain the market growth.

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Major types of construction glass products included in the report are Low-E glass and special glass. Special glass constituted the highest market share over 69% in 2015 and is estimated to reach $83,093 million by 2022, growing at a CAGR of 6.8% from 2016 to 2022. This is attributed to enhanced features such as safety of home from external environmental hazards such as protection from UV rays and noise pollution. Low-e glass is estimated to reach $38,784 million by 2022, registering a CAGR of 7.8%.

Construction glass is used extensively in residential and nonresidential buildings. Nonresidential construction segment accounted for the largest share of more than 64% in 2015, owing to increase in construction activities of green buildings and various government regulations related to energy-efficient buildings. In addition, new buildings, educational institutes, and industrial buildings have started using solar control Low-E glass, which fueled the market growth.

The global construction glass market is categorized based on chemical composition into the soda-lime glass, potash-lime glass, and potash-lead glass. Soda-lime glass is the most prevalent type of glass that is used in residential and nonresidential buildings. The segment accounted the highest revenue in the construction glass market constituting around $68,323 million in 2015. However, potash-lead glass segment is expected to dominate the market during the forecast period owing to high refractive index and increased adoption in the manufacturing of artificial gems, electric bulbs, lenses, and prisms.

Among manufacturing process, float process contributed the maximum share in 2015 and is expected to maintain its lead throughout the forecast period, owing to a uniform thickness and flat surfaces provided by the float process.

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The key players profiled in the global construction glass industry have focused to expand their business operations in the emerging countries by adopting various strategies including R&D, product launch, and acquisition & merger to strengthen their position in the market. For example, Gulf Construction Company launched glass toughening film, for protection against violent weather, accidental glass shattering, and glass-related injuries. The major players profiled in this report include Compagnie de Saint-Gobain S.A., Asahi Glass Co. Ltd., PPG Industries, Inc., Nippon Sheet Glass Co. Ltd., Xinyi Glass Holdings Limited., Central Glass Co., Ltd., China Glass Holdings Limited, Guardian Industries Corp., Schott AG, and Sisecam Group.

Some key findings of the Market:

-In 2015, special glass accounted for the maximum revenue and is projected to grow at a CAGR of 6.8% during the forecast period.

-Nonresidential application segment is expected to grow at the highest CAGR of 7.4% during the forecast period.

-China is the major shareholder in the Asia-Pacific construction glass market, accounting for around 44% share in 2015.