The construction glass market was valued at $93.96 billion in 2021, and it is set to reach $161.46 billion by 2030, growing at a growth rate of 6.20% between 2021 and 2030, according to a research report by a market research company P&S Intelligence.
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| To learn more about this report: https://bit.ly/3WyGM5b |
The biggest reasons for the industry growth are economic development in different nations, the rising count of government-led infrastructure projects, and increasing demand for housing because of rapid urbanization.
Construction glass is becoming more popular because it is a suitable alternative for conventional building materials including, wood, bricks, and polycarbonate, credited to its high strength, environment-friendliness, energy efficiency, and being economical.
In 2021, APAC held a larger revenue share of approximately 40%, and this region is projected to continue its dominance in the coming years in the construction glass industry. The significant industrialization, along with booming construction activities in China and India, and the increasing ecological material demand are the major drivers to the industry growth.
Furthermore, businesses are focusing more on adopting a variety of strategies to gain a lead. For example, Saint-Gobain a France-based manufacturer spent $67.5 million in March 2022, to start a new float glass facility and combined window line at its World Glass Campus in Chennai, India.
Additionally, the existence of numerous manufacturers in the U.S. and many European countries, such as Germany and France, and the growing construction activities are set to contribute to the growth of the construction glass industry in these countries.
Therefore, economic growth in different nations, escalating count of government-led infrastructure projects, and increasing demand for housing because of rapid urbanization will contribute to the increasing demand for construction glass in the years to come, all over the world.
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