Global solar control glass market is expected to witness growth on account of rising concerns over global warming and adoption of clean development mechanism in the industrial sector. Rising importance of alternate sources of energy in light of increasing concerns over green house emissions is expected to have a positive impact on the market.
Increasing incorporation of solar photovoltaic module in glass manufacturing for providing good insulation and harness efficient amount of energy is likely to be a favorable factor. Solar control glass allows sunlight from passing through a window or façade while reflecting and radiating away high degree of heat.
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This property renders the indoor space bright and cool unlike the normal glass. These products reduce the need for air conditioning or window blinds at residential and commercial buildings. The demand for this energy-efficient product is likely to increase on account of exhibiting high reflectance, good absorption, and excellent transmission of solar energy.
Majorly used solar control products include float glass, tempered safety glass, laminated safety, and printed tempered safety glass. Asia Pacific is likely to be a lucrative industry on account of rapid increment in the expenditure over construction in countries such as China and India by governments at domestic level.
Supportive government policies such as introduction of 100% foreign direct investment for infrastructure development in India and tax reliefs to construction manufacturers are likely to remain favorable factors in future. In 2014, New Development Bank for BRICS was established for promoting infrastructure improvement. The bank is aimed for providing infrastructure funding to BRICS and is likely to open new avenues over the forecast period.
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Europe is expected to be one of the promising markets on account of supportive government policies promoting energy savings and supporting bio-economy in the country. In 2010, European Union launched Europe 2020 strategy, which is aimed at increasing energy-efficiency by 20%, rising energy derived from renewable source by 20%, and reducing greenhouse gas emissions by 20% at domestic level. This strategy is aimed at promoting the procurement of energy-saving products and tax redemption for member states on consumption of such products.
In 2012, Bio-Economy Platform was formed between Latin America, Caribbean, and Europe for the development of political and institutional frameworks. This platform is expected to increase the importance of alternate sources of energy and, thus, is likely to increase the incorporation of solar control glass in construction industry of South America.
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