Categories: Metal & Construction

Building and Construction Glass Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Building and Construction Glass Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Building and Construction Glass Global Market Report 2024, The building and construction glass market size has grown strongly in recent years. It will grow from $105.07 billion in 2023 to $114.75 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to urbanization and population growth, architectural trends, energy efficiency concerns, economic conditions, globalization and trade.

The building and construction glass market size is expected to see strong growth in the next few years. It will grow to $156.83 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to sustainable building practices, population density and urban development, stringent energy efficiency regulations, infrastructure development projects, global economic trends. Major trends in the forecast period include innovations in glass technology, smart building technologies, rising popularity of specialty glass, sustainable and recyclable materials, bim (building information modeling) integration.

The development of green buildings is significantly contributing to the growth of the building and construction glass market going forward. Green building involves designing, constructing, and operating buildings in an environmentally responsible and resource-efficient manner, with a focus on using sustainable materials and resources, reducing energy and water usage, improving indoor air quality, and minimizing waste and pollution. Building and construction glass plays a significant role in green buildings by providing energy-efficient solutions that help reduce energy consumption and costs. For instance, in October 2022, according to an article published by the US Green Building Council (USGBC), a US-based non-profit organization that promotes sustainability in building design, construction, and operation, between 2017 and 2021, over 36,835 projects totaling 4.63 billion gross square feet received LEED certification. Over 5,000 new projects were certified in the first three quarters of 2022. The United States and Canada have the highest concentration of LEED-certified projects (74%), followed by East Asia (9%), and Europe (6%). Therefore, the development of green buildings will drive the building and construction glass market.

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The building and construction glass market covered in this report is segmented –

1) By Type: Low-E Glass, Special Glass

2) By Manufacturing Process: Float Glass Process, Rolled Or Sheet Process

3) By Chemical Composition: Soda-Lime, Potash-Lime, Potash-Lead

4) By Application: Residential, Non-Residential

Product innovations are a key trend gaining popularity in the building and construction glass market. Major companies operating in the building and construction glass market are focused on developing new technological solutions to strengthen their position. For instance, in February 2021, Vitro Architectural Glass, a Mexico-based glass manufacturing company, launched Solarban R77 a new low-emissivity (low-e) glass technology that provides both solar control and a pleasing silver-blue aesthetic. The glass has a magnetron-sputtered vacuum deposition coating and provides a solar heat gain coefficient of 0.25 and visible light transmittance of 47% in a clear 1-inch insulating glass unit. This product is designed to offer a pleasing appearance while satisfying increasingly strict building code mandates.

The building and construction glass market report table of contents includes: