The global solar control glass market was valued at an estimated $4,198.0 million in 2015, and it is expected to grow at a CAGR of 9.2% during 2016-2022. The factors driving the growth of the global market are increased government initiatives and tax benefits, growing construction of residential and non-residential buildings, huge growth in the building-integrated photovoltaic (BIPV) market. The key trend witnessed in the global market is technological advancements. New product innovation and rapid transformation of coating technology allows architects and engineers to fine tune the properties of functional glass with light and radiation. Solar control glass is the most important innovation in the modern glass technology field. Solar control glass is a glass with special coatings that reduce the amount of heat entering into buildings. It plays an important role in building design and helps to create a sustainable green environment.
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According to the EU, the use of solar control glass in residential and non-residential buildings in the region could save up to 15 million tons of carbon dioxide every year. Moreover, the new technology will help in saving energy, as it reduces the load on air conditioning systems. The recent advancement in solar control glass technology is expected to fuel the growth of the global market during the forecast period.
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Asia-Pacific is anticipated to be the fastest growing market of solar control glass. The major reason for the highest growth in the region is the strong surge in construction industry. Moreover, the several tax benefit schemes and growing BIPV market are also supporting the growth of the Asia- Pacific solar control glass market. A high investment from China and Japan in the solar control...