The solar reflective glass market size was valued at $5.3 billion in 2021, and is estimated to reach $10.6 billion by 2031, growing at a CAGR of 7.3% from 2022 to 2031. Solar reflective glass refers to the special coated glass that reflects a substantial share of sunlight and declines the amount of heat entering inside to make it more comfortable. It makes the indoor space brighter and fresher. Solar reflective glasses are used in numerous applications, such as commercial, residential, and automotive, to decrease the amount of solar heat entering the room.
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Solar reflective glass is lightweight, delivers an amusing
& comfortable environment, and provides high levels of natural light.
Various types of coated solar glass are available, exhibiting different
aesthetics such as reflective, tinted, and neutral. The coated solar reflective
glass assists in reflecting the heat from the sun & maintaining the
interior cooler in summers, and significantly reducing the amount of heat,
which is able to pass through the space, offering a more usable and comfortable
living space.
In addition, solar reflective glass has many applications in
the construction industry. Roof, windows, skylights, facades- solar glass can
be used in several ways in a building. Whether it is a commercial building such
as business centers, shopping malls, or residential property, solar glass can
be used for either of them. It can be used for both external and internal
purposes.
Moreover, solar reflective glasses have variety of
advantages such as, energy efficiency, sustainability, offers comfort, provides
UV protection, and has longer upholstery life, which may act as the major
driving factor for the solar reflective glass market growth.
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The solar reflective glass market analysis is segmented into
type, coating method, application, and region. By type, the market is
bifurcated into reflective and absorptive. Depending on coating method, it is
fragmented into hard coated and soft coated. On the basis of application, it is
segregated into automotive, commercial, and residential. Region wise, it is
studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players studied and profiled in the solar
reflective glass market forecastare Heliotrope, Guardian Industries, PPG
Industries, Asahi Glass, Ravenbrick LLC, e-Chromic, Saint-Gobain, Gentex,
Polytron, and Xinyi Auto.
Impact of COVID-19 on the solar reflective glass
The impact of COVID-19 pandemic on the coated solar
reflective glass market can be classified as adverse. With the implementation
of lockdowns across the globe as a measure to prevent the widespread of the
COVID 19 pandemic, the construction activities for both residential and
commercial segment were on a halt or cancelled. The maintenance of the
pre-existing structures was also postponed. On the other hand, the supply chain
has improved, showing a positive movement of man, material and money to restore
the growth of the global solar reflective glass market. Furthermore, the
financial health of the construction & building industry as well as
individuals also reaching to pre-covid level is rendering the builders to
construct and the public to purchase or renovate their establishments. All
these factors are cumulatively responsible for solar reflective glass
market opportunities and growth in future
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Key findings of the study
- In
2021, North America dominated the solar reflective glass with around 31.7%
of the share in terms of revenue.
- The
reflective is the dominating segment with around 60.2% of the solar
reflective glass market share in terms of revenue.
- The
hard coated segment dominated the solar reflective glass with around
44.16% of the share in terms of revenue.
- LAMEA
is projected to grow at a highest CAGR of 2.8% in terms of value.
- The
Soft Coated segment is projected to grow at the highest CAGR of 2.3% in
terms of revenue
- The
synthetic system segment is projected to grow at the highest CAGR of 2.8%
in terms of revenue.
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