The scope of our recent study on the "Architectural Glass Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type (Tempered Glass, Annealed Glass, Laminated Glass, and Others) and Application (Hurricane Impact, Balustrades/Glass Railings, Overhead and Canopies, Security/Bullet Resistant Glass, Acoustics, Decorative/Colored Glass, Structural Facades, and Others)" includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis. It also entails the identification of significant market players and their key developments.
The architectural glass market size is projected to grow from US$ 52,608.27 million in 2022 to US$ 75,837.41 million by 2028; it is expected to grow at a CAGR of 5.6% from 2022 to 2028.
Architectural glass is used in residential and commercial buildings as part of the design. Various types of glass are used in construction, such as float glass, laminated glass, tempered glass, coated glass, insulated glass, and tinted glass. Tempered glass is the most common safety glass. It is heat strengthened during its manufacturing. Tempered glass is used in entry and shower doors and windows subject to impact. The global architectural glass market is segmented based on type, application, and geography. There is an increasing demand for glass from the construction industry as glass allows innovative designs, and it can be treated to improve insulation and energy efficiency. Large glass envelopes have become very common, especially in urban areas.
The global architectural glass market is segmented based on type, application, and geography. Based on type, the market is segmented into tempered glass, annealed glass, laminated glass, and others. The laminated glass segment held the largest share of the global market in 2021. Laminated glass is often used as hurricane-resistant walls, intrusion cover in houses, and damage intolerance in vehicle windshields. The Wide applicability of laminated glass and the growing need for safety in buildings are contributing to the segment growth. Additionally, owing to the factors such as rising demand for security, sound reduction, shatter resistance, and protection from adverse weather conditions, the market is expected to witness steady growth during the forecast period.
The global architectural glass market is segmented into five main regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacific is expected to be the fastest-growing region during the forecast period. The beneficial government policies related to residential properties in several developing countries of the region have propelled urbanization. According to the report by the Department for Promotion of Industry and Internal Trade (DPIIT), the government of India has planned to boost the infrastructure and construction services through several policies such as open FDI norms, large budget allocation to the infrastructure sector, and smart cities mission. The report also stated that the real estate industry in India is projected to reach US$ 1 trillion by 2030, along with an increased year-on-year infrastructure Capex by 34% to reach US$ 6.7 million. Thus, the consequent growth of the construction industry in developing countries is fueling the demand for architectural glass in the region.
Impact of COVID-19 Pandemic on Architectural Glass Market
The global economy was hit hard due to the COVID-19 pandemic. Governments of various countries took possible steps in the form of country-wide lockdowns to restrict the spread of SARS-CoV-2, which directly impacted the growth of industrial sectors. Various measures implemented to combat the spread of SARS-CoV-2 hampered the building & construction industry. The sudden closing of national and international boundaries disrupted operational efficiencies and value chains. The contractors and builders struggled to obtain permits for new and in-process construction projects. These are the major factors that restrained the growth of the architectural glass market during the pandemic. However, during the lockdowns, residents invested both time and money in rebuilding or remodeling their homes, which increased the demand for materials.
The report includes the segmentation of the global architectural glass market as follows:
Based on type, the global architectural glass market is segmented into tempered glass, annealed glass, laminated glass, and others. Based on application, the market is segmented into hurricane impact, balustrades/glass railings, overhead and canopies, security/bullet resistant glass, acoustics, decorative/colored glass, structural facades, and others. By geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The North America architectural glass market is subsegmented into the US, Canada, and Mexico. The Europe market is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific architectural glass market is divided into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The MEA market is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The South & Central America market is segmented into Brazil, Argentina, and the Rest of South & Central America.
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