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Solar Glass Market size is forecast to reach $35.4 billion by 2025, after growing at a CAGR of 29% during 2020-2025. Solar Glass industry is projected to augment due to increasing use of solar glass for all kinds of residential and commercial buildings. Growth in the construction sector, particularly in emerging economies and technological advancements in the solar glass industry drive the growth of the market.
Report Coverage
The report: “Solar Glass Market- Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Solar Glass industry.
By Type: Photovoltaic Glass (AR Coated Glass, Tempered Glass, TCO Glass), Multifunctional Glass (Thermal Insulation Glass, UV and IR Radiation Glass, and Others), Others.
By Grade of Transparency: Low Transparency, Medium Transparency, and High Transparency
By Application: Curtain Walls, Facades, Skylights, Solar PV Panels, Glazing, Wind Shield, and Others.
By End Use: Building and Construction (Residential and Commercial), Automotive industry, Solar Energy, Infrastructure and Others.
By Geography: North America, South America, Europe, APAC, and RoW.
Key Takeaways
- Asia Pacific dominates the solar glass market owing to rapid increase in development of renewable power to cope up with the increase in electricity demand.
- Solar glass windows are double glazed, have high strength, are durable, and transparent.
- Growth in the construction sector, particularly in emerging economies and technological advancements in the solar glass industry drive the growth of the market.
- The market drivers and restraints have been assessed to understand their impact over the forecast period. The report further identifies the key opportunities for growth while also detailing the key challenges and possible threats.
- The other key areas of focus include the various applications in solar glass market and their specific segmented revenue.
Solar Glass Market Segment Analysis - By Type
Photovoltaic Glass held the largest share in the Solar Glass market in 2019. Solar Photovoltaic (PV) Glass is a glass that transforms solar energy into electricity using solar cells. This is mounted inside building roofs or facade areas to produce power for a whole house. Solar cells are placed between two glass panes in these glasses which have unique resin filling. These resins bind the solar cells tightly from all sides. Each cell is connected to two electrical connections to form a frame, which is attached to other cells. The other factors augmenting the Solar PV glass market includes supportive government funding for construction of solar photovoltaics plants. In addition, growing demand for residential, industrial, and utility-scale solar systems is boosting the growth of the solar PV glass industry. The global demand for solar photovoltaic glass has yet to reach their full potential. The rising in renewable energy demand is expected to deliver market growth opportunities.
Solar Glass Market Segment Analysis - By Grade of Transparency
High Transparency held the largest share in the Solar Glass market in 2019. High transparent solar glass absorbs 60% of the sunlight they receive. These glass panels performance is 7.2 percent, compared to 12 percent for traditional solar photovoltaic panels. The output is decreased because the panel absorbs only 60 per cent of the light while the remaining 40% is transmitted through the screen. The transparent panes that can harvest solar rays use organic molecules to absorb invisible wavelengths of sunlight. These transparent solar glass have enormous potential. There are as many as 7 billion square meters of glass surfaces in the US alone. These materials embedded in windows could use surface area that needs to be transparent. In fact, if the material's transparency can be tuned, they may also be used as lighting to keep those inside the building cooler, thereby helping reducing the overheads for air conditioning.
Solar Glass Market Segment Analysis - By Application
Facades is projected to witness highest share in Solar Glass market in 2019. Facade panels are cost effective as they lessen the costs for cement or adhesive purchases and also they are energy efficient. Global Facades market is witnessing huge growth, owing to the significant growth in the construction of residential, commercial and industrial properties globally. The technical advancements in the construction and infrastructure industry has increased the demand for such energy efficient materials. The commercial construction industry has achieved tremendous growth in the past five years. The improvements in infrastructure investment provides continuous impetus to the construction and building industry, in turn, propelling the demand for facades. The commercial application was the dominant segment and the facades demand across this segment has dominated, owing to several benefits offered by the facade system, such as acoustic insulation, thermal insulation, and natural ventilation. In 2019, commercial sector experienced continuous growth, though recently the commercial sector has slowed as the risk for a downturn in global construction increases due to COVID-19 pandemic which led to temporary lockdown of all economic activities across globe.
Solar Glass Market Segment Analysis - By End Use
Building and construction dominates the solar glass market growing at a CAGR of 31%. With the growing construction industry and its demand for solar glass particularly in the regions of Asia-Pacific, North America and Europe, the demand of solar glass for all kinds of buildings is expected to see an upsurge. Residential application segment is witnessing growth due to the rising penetration from untapped markets. First-mover advantage in untapped regions and relatively low acquisition costs remain key driving forces in this application market. Furthermore, R&D in solar glass will support the growth of the solar glass market. The market for architectural glazing is about to see an invention that will allow windows to generate electricity. The incorporation of solar cells into glass window panels will allow the sunlight to be harnessed to thermally insulate buildings while regulating the interior light rates. Similarly, Tesla has launched its solar roof tile for residential home. The technology advancement in solar glass will augment the solar glass market.
Solar Glass Market Segment Analysis - By Geography
Asia-Pacific (APAC) dominated the Solar Glass market growing at CAGR of 42% followed by North America and Europe. APAC as a whole is set to continue to be one of the largest and fastest growing construction markets globally. Large and more developed markets such China, India, Japan, and South Korea are expected to grow more in the coming years. China is driving much of the solar glass market demand in Asia-Pacific region followed by India and Japan. Of the five fastest growing regions in construction sector, other than U.S. all are Asian countries including China and India who majorly drive the demand for construction investment in this regions. The strong and healthy growth in construction sector is associated with growing population and middle class economy, which tend to drive APAC residential construction market further and hence the solar glass market. The number of buildings that have illuminated solar glass is growing sharply in APAC region. The increasing number of new building constructions, along with the rise in the number of renovation projects has further propelled the market. Currently the construction industry has been affected due to COVID-19 pandemic where most of the industrial activity has been temporarily shut down. In in turn has affected the demand and supply chain as well which has been restricting the growth in year 2020.
Solar Glass market Drivers
- Solar Glass Facades helps in lowering power consumption
The current challenge for the building sector is to meet the goals of green building norms, for this it is necessary to have high performance building envelope which allows minimizing the energy demand. Facades helps in managing HVAC needs of the building thereby ultimately aids in reducing the power need than earlier.
- Façade retrofitting improves the aged building performance
Much of the existing tall building stock is burdened with aging and underperforming. facades results in substantial improvement of building performance through façade retrofit, façade retrofitting is likely more economical and environmentally preferred than demolition and reconstruction, Thus façade retrofitting method will further boost the façade market.
- Rapid industrialization and infrastructure activity will augment the growth of solar glass
Improvement in economic climate along with boom in industrialization and infrastructure activity across the globe is leading the growth of solar glass. Oxford Economics has estimated global infrastructure investment needs to be $94 trillion between 2016 and 2040. This is 19 percent higher than would be delivered under current trends. With the increasing rate of industrialization and infrastructure activity, as a result of which solar glass growth is augmenting.
Solar Glass market Challenges
- Hotspots on the panels can restrict the solar glass market
Hot spots are overloaded places on the plates, and thus become wet. Hotspots on panels are caused mainly by badly-lost contacts, or are the result of a structural defect in solar cells. Bad-soldered connections in the part of the panel that receives the power produced by the cell trigger low resistance. Ultimately, this phenomenon will lead to a short circuit, and reduce the PV panel's efficiency and lifespan. In some solar parks, we have found hot spots, leading to replacement of solar panels, adding substantial Opex costs to those projects.
Solar Glass Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Solar Glass market. In 2019 the Solar Glass market has been consolidated by the top five players accounting for xx% of the share. Major players in the Solar Glass market rare PPG Industries Inc., Guardian Glass, CSG Architectural Glass, Arcon Flachglass Veredlung Gmbh Co. & KG, Sisecam Flat Glass and Others.
Acquisitions/Technology Launches/ Product Launches
- In October 2019, Tesla launched Tesla Solar Roof tiles which is 2,000-square-foot roof with 10kW of solar capacity. The solar roof is cheaper and quicker to install than version two.
- In February 2020, FuturaSun launched monocrystalline PERC panel with a 60-cell dual-glass structure and power output of 320-330 W. The Duetto module, boasts strong resistance to adverse weather thanks to two coupled, 2mm sheets of tempered glass which are said to ensure maximum mechanical stability and excellent resistance and durabilit.
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1. Solar Glass Market - Market Overview
1.1 Definition and Scope
2. Solar Glass Market - Executive Summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key trends by Type
2.3 Key trends by Grade of Transparency
2.4 Key Trends by Application
2.5 Key Trends by End Use
2.6 Key trends by Geography
3. Solar Glass Market - Landscape
3.1 Comparative analysis
3.1.1 Market Share Analysis- Top Companies
3.1.2 Product Benchmarking- Top Companies
3.1.3 Top 5 Financials Analysis
3.1.4 Patent Analysis- Top Companies
3.1.5 Pricing Analysis
4. Solar Glass Market - Startup companies Scenario Premium (Premium)
4.1 Top startup company Analysis by
4.1.1 Investment
4.1.2 Revenue
4.1.3 Market Shares
4.1.4 Market Size and Application Analysis
4.1.5 Venture Capital and Funding Scenario
5. Solar Glass Market – Industry Market Entry Scenario Premium (Premium)
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing business index
5.3 Case studies of successful ventures
5.4 Customer Analysis – Top 10 companies Investment
6. Solar Glass Market - Market Forces
6.1 Market Drivers
6.2 Market Constraints
6.3 Market Opportunities
6.4 Porters five force model
6.4.1 Bargaining power of suppliers
6.4.2 Bargaining powers of customers
6.4.3 Threat of new entrants
6.4.4 Rivalry among existing players
6.4.5 Threat of substitutes
7. Solar Glass Market -Strategic analysis
7.1 Value chain analysis
7.2 Opportunities analysis
7.3 Market life cycle
7.4 Suppliers and distributors Analysis
8. Solar Glass Market – By Type (Market Size -$Million)
8.1 Photovoltaic Glass
8.1.1 AR Coated Glass
8.1.2 Tempered Glass
8.1.3 TCO Glass
8.2 Multifunctional Glass
8.2.1 Thermal Indulation Glass
8.2.2 UV and IR Radiation Glass
8.2.3 Others
8.3 Others
9. Solar Glass Market – By Grade of Transparency (Market Size -$Million)
9.1 Low Transparency
9.2 Medium Transparency
9.3 High Transparency
10. Solar Glass Market – By Application (Market Size -$Million)
10.1 Curtain Walls
10.2 Facades
10.3 Skylights
10.4 Solar PV Panels
10.5 Glazing
10.6 Wind Shield
10.7 Others
11. Solar Glass Market – By End Use (Market Size -$Million)
11.1 Building and Construction
11.1.1 Residential
11.1.1.1 Independent Houses
11.1.1.2 Large Apartments
11.1.1.3 Row Houses
11.1.2 Commercial
11.1.2.1 Airports
11.1.2.2 Hospitals
11.1.2.3 Office Buildings
11.1.2.4 Retail Outlets
11.1.2.5 Others
11.2 Automotive Industry
11.3 Solar Energy
11.4 Infrastructure
11.5 Others
12. Solar Glass Market - By Geography (Market Size -$Million)
12.1 North America
12.1.1 U.S
12.1.2 Canada
12.1.3 Mexico
12.2 South America
12.2.1 Brazil
12.2.2 Argentina
12.2.3 Colombia
12.2.4 Chile
12.2.5 Rest of South America
12.3 Europe
12.3.1 UK
12.3.2 Germany
12.3.3 France
12.3.4 Italy
12.3.5 Netherland
12.3.6 Spain
12.3.7 Russia
12.3.8 Belgium
12.3.9 Rest of Europe
12.4 Asia-Pacific
12.4.1 China
12.4.2 Japan
12.4.3 India
12.4.4 South Korea
12.4.5 Australia and New Zeeland
12.4.6 Rest of APAC
12.5 Rest of the World
12.5.1 Middle East
12.5.1.1 Saudi Arabia
12.5.1.2 U.A.E
12.5.1.3 Israel
12.5.1.4 Rest of the Middle East
12.5.2 Africa
12.5.2.1 South Africa
12.5.2.2 Nigeria
12.5.2.3 Rest of Africa
13. Solar Glass Market – Entropy
14. Market Share Analysis (Premium)
14.1 Market Share by Country- Top companies
14.2 Market Share by Region- Top companies
14.3 Market Share by type of Product / Product category- Top companies
14.4 Market Share at global level- Top companies
14.5 Best Practices for companies
15. Solar Glass Market- List of Key Companies by Country (Premium)
16. Solar Glass Market Company Analysis
16.1 Market Share, Company Revenue, Products, M&A, Developments
16.2 Company 1
16.3 Company 2
16.4 Company 3
16.5 Company 4
16.6 Company 5
16.7 Company 6
16.8 Company 7
16.9 Company 8
16.10 Company 9
16.11 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"