Market Leader - Construction Glass Market
The Asia-Pacific region is the fastest-growing region of the global economy, and its economic growth has increased in the last decade, reaching 31.4% of the world GDP in 2012, according to the USDA. The two economic giants of the Asia-Pacific region, China and Japan, are the world’s second and third-largest economies. According to the Population Reference Bureau, the fastest-growing consumer markets of China, India, and other Asia-Pacific countries have a combined population exceeding four billion people (as in 2014), and this is projected to become an increasingly important driver for global consumption over the next two decades, led by rapidly rising household incomes and fast-growing middle classes. Asia-Pacific economies continue to have strong growth. In 2013, regional GDP rose to 4.8%, driven both by the region’s fast-growing, emerging economies and by the mature economies, which recovered from the global recession.
The construction glass market in the Asia-Pacific region is projected to grow at the highest CAGR from 2015 to 2020, in terms of volume. The rising middle-class population of the region, with high disposable income, and the demand for sustainable construction, are driving the growth of the construction glass market. Another factor is the densely populated areas of the region that require better infrastructure facilities.
Europe is projected to be the second-largest user of construction glass in the world. The market for construction glass is driven by the flourishing construction industry in the region, and is projected to grow at a CAGR of more than 2.48% during the review period.
Related Reports:
Construction Glass Market by Type (Low-E, Special), Application (Residential, Commercial, Others), Manufacturing Process (Float, Rolled/Sheet), Chemical Composition (Soda-Lime, Potash-Lime, Potash-Lead) & Geography - Global Forecast to 2020
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