The solar reflective glass market size was valued at $5.3 billion in 2021, and is estimated to reach $10.6 billion by 2031, growing at a CAGR of 7.3% from 2022 to 2031. Solar reflective glass refers to the special coated glass that reflects a substantial share of sunlight and declines the amount of heat entering inside to make it more comfortable. It makes the indoor space brighter and fresher. Solar reflective glasses are used in numerous applications, such as commercial, residential, and automotive, to decrease the amount of solar heat entering the room.
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Solar reflective glass is lightweight, delivers an amusing & comfortable environment, and provides high levels of natural light. Various types of coated solar glass are available, exhibiting different aesthetics such as reflective, tinted, and neutral. The coated solar reflective glass assists in reflecting the heat from the sun & maintaining the interior cooler in summers, and significantly reducing the amount of heat, which is able to pass through the space, offering a more usable and comfortable living space.
In addition, solar reflective glass has many applications in the construction industry. Roof, windows, skylights, facades- solar glass can be used in several ways in a building. Whether it is a commercial building such as business centers, shopping malls, or residential property, solar glass can be used for either of them. It can be used for both external and internal purposes.
Moreover, solar reflective glasses have variety of advantages such as, energy efficiency, sustainability, offers comfort, provides UV protection, and has longer upholstery life, which may act as the major driving factor for the solar reflective glass market growth.
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The solar reflective glass market analysis is segmented into type, coating method, application, and region. By type, the market is bifurcated into reflective and absorptive. Depending on coating method, it is fragmented into hard coated and soft coated. On the basis of application, it is segregated into automotive, commercial, and residential. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players studied and profiled in the solar reflective glass market forecastare Heliotrope, Guardian Industries, PPG Industries, Asahi Glass, Ravenbrick LLC, e-Chromic, Saint-Gobain, Gentex, Polytron, and Xinyi Auto.
Impact of COVID-19 on the solar reflective glass
The impact of COVID-19 pandemic on the coated solar reflective glass market can be classified as adverse. With the implementation of lockdowns across the globe as a measure to prevent the widespread of the COVID 19 pandemic, the construction activities for both residential and commercial segment were on a halt or cancelled. The maintenance of the pre-existing structures was also postponed. On the other hand, the supply chain has improved, showing a positive movement of man, material and money to restore the growth of the global solar reflective glass market. Furthermore, the financial health of the construction & building industry as well as individuals also reaching to pre-covid level is rendering the builders to construct and the public to purchase or renovate their establishments. All these factors are cumulatively responsible for solar reflective glass market opportunities and growth in future
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Key findings of the study
- In 2021, North America dominated the solar reflective glass with around 31.7% of the share in terms of revenue.
- The reflective is the dominating segment with around 60.2% of the solar reflective glass market share in terms of revenue.
- The hard coated segment dominated the solar reflective glass with around 44.16% of the share in terms of revenue.
- LAMEA is projected to grow at a highest CAGR of 2.8% in terms of value.
- The Soft Coated segment is projected to grow at the highest CAGR of 2.3% in terms of revenue
- The synthetic system segment is projected to grow at the highest CAGR of 2.8% in terms of revenue.
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