Tempered

China solar PV glass market to exhibit remarkable gains over 2017-2024, supportive government initiatives to spur the product demand

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The global solar PV glass market is gaining remarkable momentum with escalating investments toward boosting energy efficient technology and conserving the energy mix. Favorable government initiatives and projects toward the usage of clean energy sources to reduce carbon footprints have brought about huge growth prospects for solar PV glass industry over the coming seven years. In 2016, global Solar PV glass market was worth over USD 2 billion and the overall consumption is projected to cross 700 million square meters by 2024, according to a report by Global Market Insights, Inc.

U.S. Solar PV Glass Market Size, By End Use, 2016 & 2024 (USD Million)
U.S. Solar PV Glass Market Size, By End Use, 2016 & 2024 (USD Million)

The photovoltaic glass is widely used to concentrate sunlight and convert the solar energy into electric energy. Using solar PV cells and glass in building facades and roof lighting systems can result into economical use of solar energy. PV glass can thus be directly used for power generation for small scale sectors. In countries such as the U.S., the government has introduced rebates and subsidies for the installation of solar PV glass. It has also initiated policies such as Investment Tax Credit (ITC), which has significantly reduced the overall cost of the product to boost its adoption. As per a report by EIA, the U.S. boasted of a total installation of over 12.6 GW of solar PV systems in 2016, chiefly for the residential sector.

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The rising demand for solar PV glass across the residential sector has provided a significant impetus to the tempered/toughened solar PV glass market. This product segment provides better thermal stress breakage and mechanical strength to the glass and is therefore safer than its counterparts. The tempered solar PV glass market is thus likely to witness a lucrative growth of 7% over 2017-2024.

China is a major consumer, producer, and exporter of photovoltaic systems and accounted for more than 50% of the overall solar PV glass market in 2016. In December 2016, the Chinese government amended its Thirteenth Five Year Plan to improve the countries photovoltaic energy sector with an aim to achieve at least 23% of efficiency in large scale production of crystalline silicon photovoltaic cells by 2020.

UK solar PV glass industry has also been gaining traction of late. In 2016, the UK government proclaimed a complete phase-out of the standing coal fired stations by 2025. Moreover, stringent government regulations for curbing the carbon emissions has resulted into several government initiatives to install rooftop solar PV units, which is turn has raised the regional share for solar PV glass industry.

On the technology front, solar PV glass market is segmented into two types namely float and pattern. The pattern solar PV glass market share is expected to depict an annual growth rate of 6% over the period of 2017-2024, owing to its better aesthetics, easy lamination, non-blinding effect, and desired degree of transparency. On other hand, the float solar PV glass industry also holds a significant market chunk as it finds extensive applications in thin film photovoltaic modules.

Solar PV glass market from thin film CIS / CIGS segment is likely to register a CAGR of 9% over 2017-2024. Moreover, the use of low iron pattern and float glasses for manufacturing crystalline modules has considerably impelled the solar PV glass industry.

The global solar PV glass market is likely to witness strategic collaborations and mergers to expand their network across different regions. Prominent industry players include Guardian Industries, Vidur Glass, Guangdong Golden, Xinyi, Sunarc Technology, Jin Jing, Borosil, and Flat Group.

Author Name : Ojaswita Kutepatil

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Automotive glass market to witness significant proceeds in Asia-Pacific, Safety regulations and innovations to underline the Industry trends

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With ever increasing demand for automobiles worldwide, the automotive glass market is expected to be a perpetual industry underlined with numerous innovations and regulations supporting its development. The rising disposable income especially in the developing economies will push the automobile production and create a favorable environment for the consumption of automotive glass. Designed and produced with safety in mind, glass is used in windshields, sidelites & backlites, parking lights, headlights and other sections of a vehicle. A USD 12 billion market in 2017, higher awareness regarding passenger safety and constant technological improvements in vehicle manufacturing will further propel the automotive glass industry.

Europe Automotive Glass Market Size, By Application, (Mn Sq.m), 2015 & 2024
Europe Automotive Glass Market Size, By Application, (Mn Sq.m), 2015 & 2024

The overwhelming casualty rate arising from automobile accidents has highlighted gaps in vehicle safety. With glass being the most delicate part in a vehicle, the automotive glass industry is certain to witness a slew of opportunities in the coming years. With the overall industry promising a 7% CAGR between 2018 and 2024, the United States automotive glass market will show considerable growth owing to safety focused legal amendments such as United Nations Economic Commission for Europe (UNECE or ECE) & Federal Motor Vehicle Safety Standards (FMVSS). These amendments are intended to ensure that the maximum fuel efficiency and safety features are given to the customers, leading manufactures to invest greatly in R&D. Another source of fuel for the segment is the unmatched production of vehicles in Asia-Pacific resulting from higher demand and tremendous FDIs supporting the industry. A significant amount of revenue is expected to be apportioned from light and heavy commercial segment owing to the rapid urbanization and the need for logistics in emerging economies.

The evolution of automotive designs with changing lifestyle preferences and industry outlooks has led to the augmented use of glass in vehicles. The utilization of vehicles in several capacities & terrains lead them to face potholes, rocks and common fender-benders apart from accidents. In this regard, the laminated glass market has gained substantial traction. In fact, the laminated glass industry held a revenue of USD 7 billion in 2017. The product is further anticipated to record significant growth rate, driven by its durability and ease of installation.

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Elaborating further on the product landscape, tempered glass sales will also have a noticeable contribution to the overall automotive glass industry size. The product is estimated to procure 45% of the global share by 2024.  The product is renowned for its strength and ability to withstand climate changes and heavy rains while providing a clear view.

The automotive glass market is also boosted by consistent innovations in glass features and replacement of metal components by glass supports to reduce overall vehicle weight. Automobile features like sunroofs are also increasing in demand and the availability of sunroof is not restricted to luxury vehicles any more, with manufactures installing it in many low and middle-end vehicles as well. Tinted windows allow for reduced glare, security, privacy and enhanced aesthetics for automobiles, but their use is restricted in most countries through government regulations. Amidst this backdrop, upgraded glass products such as smart glass is gaining traction within the automotive glass industry with upward trend in the premium car segment.

To emphasize the significance of innovations in the automotive glass industry, Glass Apps has introduced a leading smart glass technology which applies a Polymer Liquid Crystal film between two layers of glass and layers of conductive interlayers. Such a smart glass can help to alter the visual appearance of the windows as desired by changing the tint color and opacity by using electricity. It also diminishes the air-conditioning requirements as less sun-light enters the vehicle, limiting the carbon emissions. With the advent of smart technologies and consciousness of customers towards safer, more fuel-efficient vehicles has driven the research and development efforts globally and will provide an impetus to the automotive glass market. In terms of commercialization, the global renumeration portfolio is anticipated to cross USD 21 billion by 2024.

Author Name :Pankaj Singh