According to the latest market report, the global solar glass market is expected to grow from USD 6.2 billion in 2022 to USD 21.1 billion in 2027, with a compound annual growth rate (CAGR) of 27.9%. The main drivers of the solar glass industry include the increasing demand for renewable energy and the favorable government support for the establishment of solar power farms.

The major companies in the solar glass industry mentioned in the report include Xinyi Solar, IRICO Group New Energy, Flat Glass Group, Dongguan CSG Solar Glass Co., Ltd., AGC Solar, NSG Group, China Glass Holdings, Saint-Gobain, Borosil Renewables, and Guardian Glass.

During the forecast period, the Asia-Pacific region is expected to hold the largest market size in the global solar glass industry.

During the forecast period, AR-coated solar glass is expected to account for the largest share of the global solar glass market.

The solar glass industry is segmented by type into AR-coated solar glass, tempered solar glass, and TCO-coated solar glass, etc. In 2021, AR-coated glass dominated the market, with its advantage attributed to the high efficiency of these glasses in solar conversion. Additionally, they can be easily installed in sensitive environments such as airports. On the other hand, TCO-coated solar glass features better energy transmission, which is expected to drive its growth at the highest compound annual growth rate (CAGR) during the forecast period.

The utility segment is expected to grow at the fastest rate during the forecast period.

The application areas of the solar glass industry are divided into residential, non-residential, and utility. The utility segment is expected to grow at the fastest compound annual growth rate (CAGR) during the forecast period, driven by favorable government support for the establishment of solar farms worldwide. Governments are providing subsidies and tax rebates to companies that build solar power plants and integrate energy into the grid.

During the forecast period, the Asia-Pacific region is set to become the leading market for solar glass. Its dominant position can be attributed to the concentration of solar module manufacturers in the region, especially in China. According to the International Energy Agency, the Asia-Pacific region holds 90% of the global solar module manufacturing capacity, with China alone accounting for 74% of the global production capability. Since these glasses are primarily used in solar modules, the region has the highest demand for glass. Strong industrial foundations, favorable government policies for solar power generation, and low labor costs are factors that make the solar glass industry robust and attractive to major players for investment in the region.

(Source: China Glass Network)