Low Iron Glass Market Is Projected To Cross Over $4 Billion By 2021: Hexa Reports

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In 2014, the estimated revenue low iron glass CSP collected was $510 million and it is further projected to cross over $4 billion by 2021. By 2021, the market is likely to grow at 15% of the total iron glass production.

Low iron glass is widely used in solar industry. Glass vendors are emerging as innovative and experienced partners for solar plant operators. Furthermore, float glass plants are mostly designed for PV glass for solar panels and thin films. The overall Low Iron Glass Market is expected to grow at compound rates owing to support CSP module, manufacturing processes and for CSP low iron glass.

Cost of electricity from CSP plants will decrease from $.15-0.24/kWH to $.03 over the forecast period. CSP for low iron glass signifies 3% of the total glass production as CSP has notably stirred to early adopter stage from trial stage.

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Rapid adoption of Concentrating Solar Power (CSP) to generate electricity is the major reason driving the low iron glass market. Architectural and low iron glass decorative markets are poised to attain considerable growth based on probability of decreasing prices of low iron gas owing to economies of scale over the forecast period.

Rise in CSP sector is strong as CSP has huge ability to reduce the cost of electricity products. Also, Rapid growth in the market will make compound annual growth rates futile. The market becomes feasible as soon as the new market has 100 paying reference accounts. CSP market is expected to augment till 2015 as the solar systems has reached the market variation point.

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The material which is majorly used in low iron glass market is silica. After production of the plant is finished, a smaller amount labor during the production is sufficient as there are no enduring fuel costs in the process. This is anticipated to impact the overall economic cost of low iron glass market.

Expanding global nature of engineering, science and technology is the reflection of the implementation of the total integrated enterprise. The recent study stated that “Low iron glass creates increased efficiency in capture of solar power”, hence CSP is entirety reliable on low iron glass. Low iron glass has driven the CSP market power the past few years, and is further expected to impact the overall CSP market positively.

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