Ultra-clear Glass Market Growth, Opportunities and Forecast to 2030
The ultra-clear glass market experienced significant growth in 2021 and is expected to continue registering a high Compound Annual Growth Rate (CAGR) over the forecast period. This is due to the product's increased use in the construction industry for skylights and windows, which has driven market demand. Moreover, the adoption of ultra-clear glass in solar panels for its superior reflectivity and lower sunlight absorption has also stimulated market growth. Ultra-clear glass is clearer than normal glass, with a transparency of up to 91% and without the greenish tint present in the latter due to its low ferric oxide content. It is widely used in the architectural and designing sector for applications such as bathroom dividers, skylights, merchandise display windows, shopping malls, and aquarium walls. However, the high cost of ultra-clear glass compared to regular clear versions is a hindrance to the market's growth.
The global construction industry, particularly in countries such as India, the US, and China, is also a major driver of market demand. The real estate market, which is starting to recover post-COVID-19 pandemic, is also boosting demand for the material used in house designs. Opportunities in the global ultra-clear glass market include the increasing adoption of this material in solar panels, which has very high light transmission power, low absorption, and reflective power. As the demand for solar panels and photovoltaic (PV) systems increases, so will the demand for ultra-clear glass.
Based on the manufacturing process, ultra-clear glass produced through the float method is expected to register significant growth over the forecast period. This method is scalable and widely used for large-scale production of the product, resulting in a uniform material of enhanced quality. The furniture and display industry segment is expected to register significant revenue growth across the forecast period due to the product's widespread use in aquarium walls, commercial windows, merchandise display windows of shops and malls, tabletops, and furniture.
Asia Pacific is expected to account for the largest revenue share in the global ultra-clear glass market due to factors such as easy labor availability, huge manufacturing facilities, and a growing focus on solar energy.
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Ultra-clear Glass Market: Drive factors
The ultra-clear glass market is expected to experience significant growth in the coming years. The major factors driving the revenue growth of the global ultra-clear glass market are:
1. Increasing use in construction: Ultra-clear glass is being increasingly used in the construction industry, particularly in skylights and windows, due to its superior transparency compared to other types of glass. This trend is expected to drive market revenue as the global construction industry continues to grow.
2. Adoption in solar panels: The adoption of ultra-clear glass in solar panels is also expected to drive market demand, as it offers benefits such as less sunlight absorption and superior reflectivity.
3. High transparency and UV protection: Ultra-clear glass provides transparency of up to 91%, which is almost 6% more than regular clear glass. It also does not have a color tint and is available in variants with UV ray protection. These features make it highly desirable for use in commercial building window pillars, high-end bathroom dividers, and shop windows.
4. Recovering real estate market: The post-COVID-19 recovery of the real estate market is also expected to drive demand for ultra-clear glass, particularly in house designs.
However, the high cost of ultra-clear glass as compared to regular clear versions is likely to hinder market growth. The complex manufacturing process required to produce ultra-clear glass raises production costs, making it more expensive than regular glass. Despite this, the increasing adoption of ultra-clear glass in solar panels is expected to create lucrative growth opportunities for the market.
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