Market Overview
The global coated glass market size was valued at USD 34,040 million in 2021, and it is predicted to grow at a CAGR of 9.1% from 2022 to 2030, reaching USD 74,544 million. By 2030 with an expected valuation of USD 29335 million Europe will be the largest market for Coated Glass. For the period of 2022 to 2030, the expected CAGR of the European Coated Glass Market is 9.3%.
Coated glass is a type of industrial glass that has been sprayed with thin layers of metal oxides. In terms of solar energy, it changes the behavior of the glass in the visible and infrared domains. Pyrolytic and magnetron coatings are distinguished by on. Only the internal surface of insulating glass can be treated with this substance. Flat glass with Low-E, reflective, and anti-reflection coatings is known as coated glass.
Market Dynamics
Europe coated glass market drivers
The coated glass industry is primarily driven by increased demand for commercial projects. Concerns about rising air conditioning costs in commercial buildings are expected to drive up demand for solar control glass in the foreseeable future. The emergence of the automotive industry as a specialty application segment may drive up demand for coated glass even further.
Coated glass is widely utilized for facades, partitions, windows, and other applications in the building and construction industry, making it a major market segment for coated glass. Because of its ability to reduce the cost of air conditioning and heating for the building's occupants, coated glass is employed as energy-saving glass in structures.
Governments are enacting a variety of building regulations in order to reduce building energy use. This is a huge opportunity for the coated glass business. The expansion of painted glass in architectural applications is being driven by growing awareness of energy efficiency, global warming, an increase in green building construction, and technological breakthroughs in the coated glass.
Green buildings accounted for 28% of all buildings in Europe in 2016, according to the European Council for an Energy-Efficient Economy, with Germany and Poland leading the way. The region's coated glass usage is expected to rise as more focus is placed on green building projects. Luxury carmakers are starting to use coated glass windshields to improve the customer experience. Another factor driving the covered glass industry in Europe is increased car production in the region.
Moreover, The solar industry's achievements forecast a rise in solar panel utilization, which could alter the need for coated glass in the future. Solar panel glass is critical because it functions as a barrier between the solar photovoltaic cells and the severe external forces. Solar panel glass with a coating is essential because it has a direct impact on the efficiency and output of solar photovoltaic systems. Low reflectivity, high transmittance, good rigidity, safety, and durability are all advantages of coated solar panel glass for increased solar system performance.
In addition, coated glass can be mixed with other types of glass to achieve value-added characteristics such as noise reduction, ornamental look, and safety and security. The IEA predicts that the overall energy consumption of air conditioning systems will quadruple by 2050. As a result, construction energy consumption is expected to rise.
Europe coated glass market restraints
Short-term issues for market players include a lack of competent workers and increased building material costs. The high production cost is hampering the expanding boom of the coated glass market, which is being pushed by the expansion of the building sector. Because coated glass is made from flat glass, the float line used to make flat glass has a considerable cost disadvantage.
The glass melting process consumes roughly 60–70% of the total energy utilized in the glass manufacturing process. These furnaces run on fossil fuels, electricity, or a combination of both. Although efforts are continuing to reduce energy consumption through research and development (R&D), it continues to account for a significant amount of the entire manufacturing process cost.
COVID-19's proliferation posed a serious threat to the economy and civilization. To slow the virus's spread, the governments imposed regulatory bans, which led to the suspension of production, the closing of all work environments, the limitation of public interactions, and the temporary suspension of worldwide manufacturing and trading activities. Coated glass market growth decreased as a result of the epidemic. To comply with government-mandated lockdowns, several manufacturing companies were forced to temporarily halt operations. As a result, vehicle production and construction-related activities came to a halt, and the market began to shrink.
Europe coated glass market opportunities
In Europe, a focus on green construction is expected to boost industry growth. The green construction business in the region is concentrating on heating and cooling, insulation, lighting, and self-powered buildings. Many high-efficiency buildings utilize Low-E coated solar control glass to reflect heat from the windows, leaving cold air for ventilation throughout the summer.
Solar capacity has increased, and the growing popularity of floating solar farms is expected to boost solar panel demand even more. The demand for coated glass is expected to rise as a result of this. Installing new floating solar farms in Europe has resulted in phenomenal growth. The largest floating solar power farm in Europe, for example, was built in 2016. The farm, which is built on the Queen Elizabeth II reservoir in Walton-on-Thames, has around 23,000 solar panels.
The construction industry in Europe is also expanding. By 2030, it is expected that the United Kingdom will have surpassed Germany as Europe's largest market. The construction industry is likely to benefit from a number of megaprojects undertaken by the British government. Huge swaths of glass and open green space, for example, were used in the expansion of Heathrow Airport. For the European coated glass market, this is a positive sign. In the next few years, the worldwide covered glass market is likely to be driven by rising building activities that place a premium on coated glass usage due to environmental concerns.
