Solar Reflective Glass Market size is anticipated to record substantial revenue gains through 2032, driven by the growing focus of the global construction sector towards sustainability. Novel residential and commercial structures are increasingly using solar reflective glass to cut down on their cooling costs.
The cost-effectiveness of the glass makes it easily replaceable with conventional glass in windows, roofs, skylights, and other parts of building structures. In addition to maintaining a comfortable indoor temperature by dispersing heat from sunlight, it also reduces the amount of glare created by the reflective surfaces of buildings.
Many world governments are introducing supportive measures for financing energy-efficiency upgrades in the construction sector, bolster the industry scenario. Back in fact, in November 2022, the U.S. government announced an investment of over USD 250 million to fund energy-efficiency upgrades in buildings.
Based on application, the solar reflective glass market from automotive segment is slated to register noteworthy gains through 2032. Solar glass enhances fuel efficiency and reduces AC usage by up to 10-15% in vehicles. It also disperses the inner temperature of the vehicles and is ideal electric vehicles as they can direct the resultant energy saved towards extending their range.
With the need for climate control reduced, much of the electricity inside cars can go towards running other gadgets without any interruption. The glass also provides superior protection to the upholstery from continuous damage caused by the sun.
With respect to end-use, solar reflective glass market from the commercial buildings segment is poised to witness lucrative growth through 2032. The demand for tinted reflective glass is specifically high in commercial buildings, a niche that solar reflective glass can easily fill. The tinted reflective glass can also be easily coordinated with the commercial building’s framing including stonework and metal panels, making them ideal for the job.
Additionally, they offer optimal light filtration and color neutrality and comes with a low e-coating, which helps a building earn LEED and energy credits. It ability to dilute the sun’s glare, eliminates the need for window blinds and other coverings.
Asia Pacific solar reflective glass market is expected to depict considerable growth by 2032, driven by the strong regional industry player presence and frequent product rollouts. Back in 2021, India’s second largest float glass manufacturer, Gold Plus Glass Industry announced plans to set up a construct a solar glass factory. As per the firm, the facility will have the capacity to produce more than 300 tons of glass per day and will be operational in September of 2023.
Top companies operating in the global solar reflective glass market are Gentex, Guardian Industries, Asahi Glass, Ravenbrick LLC, PPG Industries, c, Heliotrope, and e-Chromic, among others. Many of them are focusing on mergers and acquisition strategies to capture a high market share. Citing an instance, in January 2023, Guardian Glass, a U.S.-based industrial supplier of glass, unveiled its plan to acquire Vortex Glass, a Florida fabrication business. Vortex provides insulated and laminated glass that meets the strict Florida building codes.
The acquisition will help Guardian Glass expand its make-to-order fabrication business by catering to customers in Florida with hurricane-insulated and laminated glass.
The Russia-Ukraine war had a negative impact on the solar reflective glass market owing to the energy crisis it has birthed. Russia was among the major exporters of glass, and the noble gases used in solar glass. However, global sanctions and the war have severely stunted the nation’s glass manufacturing sector. Russia was also responsible for supplying Europe with the gas it needed to burn to create the desired temperatures for glass production.
Many world governments are focusing on bringing the war to an end through geopolitical strategies. While the effect of their efforts are likely to bring respite to the situation, it may take time for the same to be reflected in the market’s performance.