INFRARED REFLECTIVE GLAZING MARKET REPORT OVERVIEW
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The global infrared reflective glazing market size was USD 2228.3 million in 2021 and is expected to touch USD 4707.62 million by 2031, exhibiting a CAGR of 7.8% during the forecast period.
The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. The COVID-19 pandemic has adversely affected several markets globally. This market is expected to be negatively affected during the COVID-19 pandemic.
Infrared reflective glazing is a reflective anti-radiation layer that reduces the heat and UV rays that shine through cars, and rooms. It is a layer that is capable of eliminating flares and enhances the driver's experience. The rising adoption of automobiles is responsible for the rising demand for advanced anti glare and safety features in cars. It is an advanced coating material that is used in windows to filter out harmful UV rays from the sun. It enhances driver's safety by improving vision and enhancing their driving experience. It improves heat absorption and helps drivers to drive comfortably.
Rising concerns regarding UV exposure, accidents, and pollution boost the product's sales. The adoption of high-quality material in an automobile is expected to improve functionality, reduce fuel consumption and improve the driver's experience. Manufacturers focus on producing high-quality and economical options for reducing emissions and improving the driver experience. Therefore, these factors can propel market development.
COVID-19 Impact: Halt on Manufacturing and Stock Shortage to Negatively Affect Market Growth
The COVID-19 pandemic has adversely affected several markets globally. Rising cases of COVID-19 patients have provoked governments to impose stringent restrictions against manufacturing and transport. As a result, the lack of supply is expected to negatively affect the market and reduce sales. Further, restrictions on travel and transport result in a shortage of raw materials, which, in turn, may result in a lack of production. The reduction in automobile sales and halt on component manufacturing is expected to impede the growth of the industry. However, the adoption of automated production machinery and reduced working capacity is expected to steer market growth during the pandemic.
LATEST TRENDS
"Robust Demand for Fuel Efficient and Electric Powered Automobiles to Foster Industry Growth"
Infrared reflective glazing is used extensively in several automobiles because of its ability to reduce heat and prevent radiation to enter the automobile. It enhances the driver's comfort and improves the vehicle's performance. It is used extensively in vehicles because of the rising demand for automobiles that provide comfort during drives. The adoption of electric and low emission vehicles is increasing rapidly, which, in turn, can boost reflective glazing sales. Changing climatic conditions and harsh environments lead to the adoption of glazing in windows and components. It reduces fuel consumption by reducing heat in an automobile. It prevents fuel from evaporating and reduces the emission rate of an automobile. It eliminates flares and improves the driver's safety.
Infrared reflective glazing is used in several passenger vehicles to improve driver and passenger safety. It maintains interior temperatures and reduces energy consumption caused by the use of air conditioning in cars. It improves visibility by incorporating layers that reduce sunlight intensity and improve temperature retention. These factors can positively impact the progress of the infrared reflective glazing market.
INFRARED REFLECTIVE GLAZING MARKET SEGMENTATION
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- By Type Analysis
By type, the market is segmented into IRR glazing with IR film and direct-coat IRR glazing.
Direct-cost IRR glazing is the leading segment because of its adoption in architectural projects. It provides excellent protection to residents and employees in residential and commercial buildings. The rising demand for spacious offices and houses is expected to boost direct-cost IRR glazing's demand. These factors are likely to boost industry growth.
- By Application Analysis
Based on applications, the market is categorized into architecture, automobiles, and others.
The automobile segment is leading the market because of infrared reflective glazing's adoption in cars. It protects drivers against UU light, heat, and flares and improves the fuel efficiency of vehicles. It improves the aesthetic appeal of the vehicle and attracts more consumers. These factors can influence the growth of the infrared reflective glazing market.
DRIVING FACTORS
"Rising Demand for Infrared Coatings from the Construction Sector to Foster Growth"
Global warming and harsh environments have resulted in uneven climatic conditions in several countries and regions, which, in turn, lead to the adoption of advanced coatings. The coatings help reduce heat and maintain temperatures inside a room. It is attached to windows and reduces the need for expensive air conditioning, which, in turn, reduces energy consumption. It is an extremely effective material to eliminate heat caused by sunlight. Evolving consumer lifestyles and rapidly increasing demand for excellent housing facilities are expected to boost its demand. It is used in several offices to reduce heat and maintain consistent temperatures inside offices to provide employees with a comfortable working experience. These factors are responsible for the growth of the infrared reflective glazing market.
"Aesthetic Appeal of Reflective Glazing to Boost Market Growth"
The rising demand for aesthetically appealing construction is expected to bolster market growth. The emergence of green building and residential projects is expected to boost infrared glazing's demand from the construction industry. Its aesthetic appeal improves the building's look while protecting the residents from harmful UV rays. Further, it is used in several automobiles because of its ability to improve the visual appeal of cars. Increased spending capacity and rising adoption of high-quality materials are likely to boost product demand. It is used in commercial and luxury cars to improve their aesthetics and provide a safe driving experience to consumers. These factors are estimated to drive the infrared reflective glazing market growth.
RESTRAINING FACTORS
"Higher Installation Cost and Low Availability to Impede Market Development"
Infrared reflective glazing's higher installation cost and rising adoption of advanced materials are expected to lower its demand from several small-scale industries. As a result, small-scale industries opt for alternative solutions to improve their productivity. Further, the restrictions on manufacturing and raw material shortage are expected to plague the market's progress.
INFRARED REFLECTIVE GLAZING MARKET REGIONAL INSIGHTS
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"Adoption of Premium Vehicles to Boost Market Growth in North America"
Regionally, the market is clubbed into Europe, North America, Latin America, Asia Pacific, and the Middle East & Africa.
North America is expected to dominate the infrared reflective glazing market share because of the rising demand for premium vehicles. It is used extensively to produce premium automobiles with excellent design and safety features. Further, excellent infrastructure development and the emergence of several multinational companies lead to the adoption of infrared reflective glazing in buildings and offices. These factors can boost the market growth.
Asia Pacific is expected to hold the second-largest market share because of the rising demand for automobiles. Rising per-capita income and evolving lifestyles are responsible for the growth of the industry. Infrared reflective glazing's adoption in passenger vehicles is expected to boost its sales. Additionally, the emergence of green building and rising investments in infrastructure developments is likely to bolster market growth.
In Europe, rapid urbanization and the emergence of several manufacturing facilities are expected to boost the market growth. The presence of a developed industrial sector across the region and the availability of raw materials are expected to boost the growth of the industry.
KEY INDUSTRY PLAYERS
"Key Players Invest Heavily in Research and Development to Improve Brand Image"
Prominent companies operating in the market invest heavily in research and development to improve their product quality. It helps the companies to utilize better materials and resources to tackle shortcomings and improve product quality. This strategy helps the companies improve their brand image radically. Further, the adoption of expansion strategies enables companies to extend their geographical boundaries. Manufacturers set up manufacturing facilities in several regions to offer solutions to consumers worldwide and boost their market reach. Additionally, the adoption of technologically advanced production machinery enables companies to improve their product quality, reduce labor and time consumption, increase operational efficiency, boost productivity and achieve organizational goals.
List of Market Players Profiled
- Eastman Chemical Co(Southwall)
- Asahi Glass Co Ltd
- Saint Gobain
- Guardian Industries Corporation
- Central Glass
- Pittsburgh Glass Works, LLC
- Xinyi Glass Holdings
INDUSTRY DEVELOPMENT
- June 2021: The Shepherd Color Company announced its novel IR reflective green pigment for use in architecture, automotive, and other sectors.
REPORT COVERAGE
The report highlights the top segments and the latest market trends. It comprehensively studies the impact of COVID-19 and the driving and restraining factors. This report observes the strategies devised by the major players and the regional developments. Additionally, it informs the readers regarding the factors that are responsible for the progress of the industry.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 2228.3 Million in 2021 |
Market Size Value By |
US$ 4707.62 Million by 2031 |
Growth Rate |
CAGR of 7.8% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type & Application |
Frequently Asked Questions
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What value is the infrared reflective glazing market expected to touch by 2031?
The infrared reflective glazing market is expected to touch USD 4707.62 million by 2031.
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What CAGR is the infrared reflective glazing market expected to exhibit during the forecast period?
The market is expected to exhibit a CAGR of 7.8% during the forecast period.
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Which are the driving factors of the infrared reflective glazing market?
Rising demand for infrared coatings from the construction sector and the aesthetic appeal of reflective glazing are the factors driving this market.
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Which are the top companies operating in the infrared reflective glazing market?
Nippon Sheet Glass Co., Ltd., Eastman Chemical Co(Southwall), Asahi Glass Co Ltd, Saint Gobain, Guardian Industries Corporation, Fuyao Group, Central Glass, Pittsburgh Glass Works, LLC, Xinyi Glass Holdings, and Abrisa Technologies is the top companies operating in the market.
