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Coated Glass Market Size To Reach $71.71 Billion By 2030

The global coated glass market size is anticipated to reach USD 71.71 billion by 2030 and is anticipated to expand at a CAGR of 9.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. Expansion of the solar industry supported by favorable government regulations is likely to contribute to the growth of the market.

Solar industry across the globe is anticipated to witness significant growth, especially in terms of capacity. Factors such as depletion of non-renewable resources, growing electricity demand, reductions in cost of solar installations, advancements in technology, and government regulations are propelling an increase in solar capacities. These factors are expected to play a vital role in penetration of coated glass in solar industry over the forecast period.

China is estimated to be a key market for coated glass at a global level. China was the largest construction industry in Asia Pacific between 2017 and 2021. Construction has witnessed a slowdown in the country since 2022 and has detected fluctuations in recent years. However, the industry is expected to grow due to affordable housing and social infrastructure. China is a key consuming country for coated glass, and its advanced infrastructural developments have taken the usage of products to next level.

European construction industry is projected to attract significant demand over coming years. As per the Centre for Economics and Business Research, the UK is predicted to be the largest construction market in Europe, and it is anticipated to pass Germany by 2030. Investments in mega projects through government and private funding are likely to fuel industry growth. For instance, in 2022, the construction of booking.com’s headquarters was one of the most significant urban projects in Western Europe. This is a positive sign for coated glass industry in Europe.

Players in the glass market have acquired considerable experience in production and supply chains. Most of these companies are integrated with nature, enabling them to consolidate their positions in the coated glass industry. However, owing to the recent slowdown, especially in economies of North America and Europe, manufacturers have focused their attention on value-added downstream products like Low-E coated glass.

Although major players have already solidified their positions in the European and the U.S. regions, the market in emerging economies like India and Southeast Asian countries still has potential, leaving room for new players to enter the market through acquisition or a new manufacturing plant, representing new sales avenues for existing companies in the industry.

Coated Glass Market Report Highlights

Based on application, architecture dominated the market with more than 89.0% revenue share in 2023. Growing construction of green buildings coupled with rising awareness associated with energy efficiency is likely to benefit the market growth
Automotive segment is expected to grow at a CAGR of 7.0%, in terms of revenue over the forecast period. Growth of the segment is likely to be driven by increasing penetration of coated glass in lightweight vehicles
Based on coating, soft coating is likely to remain the fastest-growing segment over the forecast period. Less UV radiation is one of the major benefits offered by soft coating
Market players have increased spending on R&D activities to achieve high functionality, energy conservation, thermal insulation, sound insulation, and security
Asia Pacific dominated with a revenue share of over 35.0% in 2023 and is expected to register the highest CAGR over the forecast period. Growth of the region is anticipated to be driven by developments in construction and infrastructure industry in India and China
In February 2023, Saint Gobain announced an investment of USD 16 million in R&D testing of its high-performance coated glass at its research facility. Double & triple-glazed glass will undergo R&D testing to design coated glass for the future and create energy-efficient residential homes

Coated Glass Market Segmentation

Grand View Research has segmented the global coated glass market based on coating, application, and region:

Coated Glass Coating Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)