Interior Glass Market Report Overview
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The global interior glass market size was USD 768.9 million in 2021 and is expected to reach USD 1596.7 million in 2031, exhibiting a CAGR of 7.6% during the forecast period.
Glass as a physical material to be used in construction has been around for centuries. But the prominence that it has expected in recent construction exceeds its position as a construction element and raises it to a position that maybe no other material has stretched before. Glass has transformed current construction, letting people adore panoramic views from great elevations. Glasses used as interior walls, windows, or doors in constructions are known as interior glasses.
Interior Glasses are generally used in commercial buildings, they offer interior areas an eye-catching, uncluttered, and contemporary sense, and provide a quiet and trouble-free workstation for workers. Growing usage of inside glass in institutional buildings, commercial buildings, and industrial buildings is driving the interior glass market to innovative elevations around the globe. Nowadays, glass is not just a means of allowing light into a space and attaining defense from the elements, but a declaration of elegance, cognizance and an appearance of the designer and the client's conceptual opinion on the atmosphere.
COVID-19 Impact: Halt on Construction Activities to Impede Market Growth
The global COVID-19 pandemic has been unprecedented and staggering, with interior glass experiencing lower-than-anticipated/higher-than-anticipated demand across all regions compared to pre-pandemic levels. 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 beginning of the novel COVID-19 disease is predicted to have a robust influence on the overall development of the interior glass market. The building & construction business is the main end-user segment. Numerous expansions in buildings have amplified the product demand over the past few years. Reduced consumer demand and consumption have directed to the decrease and stoppage of sales of building materials worldwide over the present economic year. The demand for glass is estimated to drop in 2020, owing to the shutting or postponements in numerous building schemes due to the stringent lockdown limitations in diverse areas. The inactive call from the construction sector is anticipated to have an adverse influence on the overall global interior glass market growth.
LATEST TRENDS
"Increasing Demand for Home Decors to Support Market Development"
The development of the interior glass market is expected to upsurge during the forecast period. The increasing demand for home décor goods is the foremost driver for the interior glass market. Builders and designers are constantly looking for novel and creative techniques to include glass into their project strategy to strengthen artistic charm. The ever-changing routine of people in the hunt for luxury has also increased the usage of interior glass for interior formation. The market has been rising at an energetic pace in recent times. Using glass in interior planning and design has been substantial, thus motivating its sales across the global market.
Interior Glass Market Segmentation
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- By Type
Based on type; the market is divided into Movable Partition Glass, Sliding Doors Glass, Demountable Glass, and Acoustical Glass.
Acoustical glass is the leading segment in the global market. It is a type of interior glass that blocks sound and light, which can be suitable in commercial and residential buildings. It delivers a solution to sound pollution for constructions suffering from airborne traffic or other kinds of cramming.
- By Application
Based on the application; the market is divided into Commercial Buildings, Institutional Buildings, Industrial Buildings, and Others.
The commercial building is the leading segment in the global market. It is the type of building that delivers amenities to clients. Interior Glass use in Commercial Buildings has augmented owing to their requirement for exceptional architectural designs and the increasing demand for acoustical insulation in constructions.
DRIVING FACTORS
"Technological Development to Assist Product Demand"
Research and development activities combined with technological advancements are expected to play a crucial part in improving the global demand for interior glass during the forecast period. Prominent market players remain to expand a competitive verge in terms of pricing, inventions are mainly motivated by R&D activities. Moreover, owing to the increasing demand for energy efficiency, companies working in the existing market are progressively concentrating on presenting advanced or smart glass prepared from high-quality resources. The progression of the market is also influenced by the increasing markets that are categorized by the increasing population, foreign investments, the increasing middle-class population, and disposable incomes.
"Government Regulation on Green Building to Inflate Market Growth"
There is a great demand for green building products worldwide. Many governments are stressing more about green building, which is generating an enormous prospect for the market to cultivate. The increasing consumer demand for green building has covered a route for technological advancements and innovations for residential, commercial, and industrial construction. The significant factors for the development of the interior glass market are the upsurge in spending on building and construction activities and improvements in solar battery-operated manufacturing. Furthermore, modifications and expansions in the automotive sector are backed by the development of the interior glass market.
RESTRAINING FACTORS
"Lack of Awareness to Hamper Product Demand"
Regardless of exceptional features and greater presentation of glass material, there has been an absence of data and responsiveness between the people concerning the profits of products. As per the industry experts, in emerging countries like India, not only people from the outdoor but also people within the industry are inclined to consume excluded sympathetic related to double-glazing glass and solutions.
Interior Glass Market Regional Insights
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"Increasing Demand from Construction Activities to Lead Market in North America "
North America holds the largest part of the global interior glass market share. The increasing demand for interior glass in the building & construction business is a foremost feature projected to motivate the global market in the coming years. Construction events in the region have amplified considerably in the past few years.
Asia Pacific is anticipated to have a sizable market share. The infrastructural improvements in emerging countries are projected to enhance the market growth in the coming years. Southeast Asia is also among the developing regional markets and nations containing China and Japan have started participating in this region.
KEY INDUSTRY PLAYERS
"Market Players to Boost Market Growth"
The top five producers of both natural and synthetic graphite account for a sizable portion of the market in their respective domains, indicating that the graphite market is partially concentrated. The graphite sheet market is fragmented, although there are certain significant players who focus on producing particular graphite product types for particular end-user sectors.
Industry Development
- November 2021: Fenzi Group, an Italy-based company that produces altered glasses, concurred with Johnson Matthey’s Advanced Glass Technologies (“AGT”) business, for an anonymous amount. This investment will benefit Fenzi Group to arrive at new markets and improve new advanced technologies. Johnson Matthey’s is a UK-based company that creates flat glasses.
List of Market Players Profiled
- Linder-group (U.S.)
- Optima (U.S.)
- Dormakaba (Switzerland)
- Hufcor (U.S.)
- Maars (Netherlands)
- IMT (Serbia)
- CARVART (U.S.)
- Lizzanno Partitions (U.K.)
- JEB (Hong Kong)
- Nanawall (Germany)
- Lacantina (U.S.)
- Panda (U.S.)
- DIRTT Environmental Solutions (Canada)
- CR Laurence (U.S.)
- Klein (U.S.)
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 768.9 Million in 2021 |
Market Size Value By |
US$ 1596.7 Million by 2031 |
Growth Rate |
CAGR of 7.6% 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 global interior glass market expected to touch by 2031?
The global interior glass market is expected to reach USD 1596.7 million by 2031.
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What CAGR is the global interior glass market expected to exhibit by 2031?
The global interior glass market is expected to exhibit a CAGR of 7.6% by 2031.
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Which are the driving factors of the global interior glass market?
Drivers of this global interior glass market are technological development and government regulation on green construction.
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Which are the top companies operating in the global interior glass market?
Linder-group, Optima, Dormakaba, Hufcor, Maars, IMT, CARVART, Lizzanno Partitions, JEB, Nanawall, Lacantina, Panda, DIRTT Environmental Solutions, CR Laurence, Klein are key companies operating in the global interior glass market.