The global market for construction glass witnessed rapid growth from 2012 and is projected to grow at a CAGR of 7.08% during the review period, to reach $115.08 Billion by 2020.
Browse 83 market data tables and 62 figures spread through 176 pages and in-depth TOC on “Construction Glass Market by Type (Low-E, Special), Application (Residential, Commercial, Others), Manufacturing Process (Float, Rolled/Sheet), Chemical Composition (Soda-Lime, Potash-Lime, Potash-Lead) & Geography – Global Forecast to 2020″.
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Asia-Pacific region dominated the construction glass market, with a share of 62% in 2013 and is projected to grow at the highest CAGR from 2015 to 2020, in terms of volume. The rising middle-class population of this region, with high disposable income, and demand for sustainable construction, are driving the growth of the market. Another factor is the densely populated areas of the region that require better infrastructure facilities.
The global market is observed to be mature in developing economies, such as Europe and North America. The reason behind this is the rapid growth in the construction sector. The Asia-Pacific region formed the largest market, in terms of volume, having accounted for 43.5 Million tons in 2014.
Europe formed the second-largest market, with a share of 20%. The Asia-Pacific region is projected to be the fastest-growing market from 2015 to 2020. The global market for construction glass is projected to grow at a CAGR of 7.08% from 2015, to reach $1,15,083.65 Million by 2020.
The global market is driven by the demand from the construction industry. The rising population has encouraged construction of new buildings. High disposable income has enabled end users to spend more on new constructions. Most importantly, the changing mindset of residential consumers has given a boost to the construction glass industry.
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The global market is marked with intense competition due to the presence of a large number of both, big and small firms. New product launches, mergers & acquisitions, and partnerships and expansions are the key strategies adopted by market players to ensure their growth in the market. Companies such as Asahi Glass (Japan), Guardian Industries (U.S.), PPG Industries (U.S.), and Saint-Gobain S.A. (France), are some of the prominent companies in the construction glass market, comprising 70% of the total market share.
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