Yahoo Finance The North America Architectural Flat Glass Market size would reach over USD 12.5 billion in revenue by 2027, says Global Market Insights Inc.
The growth of the North America architectural flat glass market is driven by rising focus on construction of new commercial and residential buildings, increasing investments towards infrastructure development, proliferating building & construction sector, and growing consumer interest in modern décor, says this report.
Selbyville, Nov. 30, 2021 (GLOBE NEWSWIRE) -- As per the latest research report by Global Market Insights Inc., the North America architectural flat glass market was estimated at USD 7.5 billion in 2020 and is projected to surpass a valuation of USD 12.5 billion by 2027, registering a CAGR of 7.5% from 2021 to 2027. The report provides a detailed assessment of top winning strategies, market size & estimations, competitive scenario, drivers & opportunities, wavering market trends, and major investment pockets.
Glass has found extensive usage in modern architecture in recent times due to its various benefits. Architectural flat glass offers several advantages like high strength, insulation, chemical resistance, fire-resistance, and energy-efficiency. It is broadly used in the construction of doors and windows, and in places where security is crucial, which is expected to augment market growth through the forecast period.
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With respect to product, the tempered glass segment was valued at USD 2.0 billion in 2020 and is estimated to grow at a steady rate over 2021-2027. Rising investments towards residential and commercial construction activities, coupled with prevalent safety concerns, are set to foster product outlook. In addition, lower production costs and environmental effectiveness associated with the use of tempered glass facilitates its adoption in diverse applications, which is foreseen to bolster segmental demand over the study timeframe.
In terms of application, the North America architectural flat glass market share from the refurbishment segment is slated to be valued at over USD 4.5 billion by 2027. Supportive government initiatives for various construction activities, coupled with mounting investments from the private sector, are expected to impel segmental growth in the forthcoming years. Emerging trends of modern décor and prominent shift from conventional materials, such as bricks and wood, are anticipated to drive product uptake through the review period.
Key reasons for North America architectural flat glass market growth:
Surging demand in domestic building & construction industry.
High uptake in construction of residential & commercial buildings.
Escalating product adoption in industrial sector.
2027 forecasts show ‘industrial’ segment retaining its dominance
Based on end-use, the North America architectural flat glass market size from the industrial segment is projected to surpass USD 920 million by 2027. Rapid urbanization, along with surging need for high-performance construction materials in industrial construction, is likely to foster segmental outlook over the following years. Additionally, reflective flat glass is also utilized in industrial applications wherein light transmittance is a key design aspect. Moreover, flat glass solar panels and insulated flat products also support energy conservation in industries, which is likely to drive product uptake in industrial sector through the analysis period.
Mexico to maintain top status in terms of revenue
The Mexico architectural flat glass market is estimated to grow at about 8.5% CAGR over the forecast timeframe to exceed a valuation of USD 1.5 billion by 2027 owing to rising infrastructure development in the country. Government policies promoting infrastructure development are anticipated to fuel product demand in the country in the coming years. Furthermore, Mexico is also a part of the World Green Building Council (WGBC), which has boosted government attention towards eco-friendly construction activities in the region. This is speculated to fuel architectural flat glass adoption in the country in the future.
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Impact of COVID-19 pandemic on North America architectural flat glass market
Following the COVID-19 outbreak, government-imposed lockdown restrictions aimed at curbing the spread of the novel coronavirus prompted essentially all industries to cease operations, including the construction sector. This adversely impacted the growth of the North America architectural flat glass industry during the pandemic. However, prevalent vaccination efforts worldwide and soaring government emphasis on expediting economic recovery are helping the North American building & construction sector regain its pre-COVID momentum, which has propelled product uptake in recent years.
Leading market players
Key companies in the North America architectural flat glass industry include AGC Glass North America, Oldcastle Building Envelope, Vitro Architectural Glass, Dillmeier Glass Company, Guardian Glass, Xinyi Auto Glass, Saint-Gobain Glass, Schott AG, NSG Group, GrayGlass Company, Corning, Syracuse Glass Company, Scheuten Flas netherland B.V., Paragon Tempered Glass, and Trulite Glass, among others.
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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