Construction Glass Market worth $115.08 Billion by 2020

(EstateNewsWire.com, December 07, 2017 ) The Global Construction Glass Market 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. 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 has expanded owing to the developments in the building construction industry. The demand for construction glass products is growing at a significant pace and is projected to grow at an even higher rate soon. With the rising population and increased incomes of people, the building construction industry is booming, and consequently, so is the construction glass market. The market can be classified into three main categories based on application: residential, commercial, and others.

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.

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Scope Of Report:
This report estimates the market size of the global construction glass market in terms of value ($million). In this report, the market is broadly segmented based on type, chemical composition, manufacturing process, application, and region. Market drivers, restraints, challenges, raw material, and product price trends are discussed in detail. Market shares of the participant companies of construction glass, is discussed in detail. The global market has grown exponentially in the last few years and this trend is expected to continue. Increasing disposable incomes of people in developing countries, government regulations, and changing preferences of people towards sustainable building techniques drive the growth of the market.

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Key Player Analysis:
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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