The U.S Contract Glazing Market- Growth, COVID-19 impact and Forecast (2021-2025)
The U.S Contract Glazing market is segmented by Product type (Insulated, Laminated, Tempered and Others); Application (Buildings and Construction, Automotive and Others); Region (Southeast, Southwest, Northeast, West, Midwest).
Introduction
Companies in this industry select, cut and install glass panels for large windows, glass doors, skylights, curtain walls and sunroom additions in all types of buildings; they also install window panes.
The glasswork performed includes new work, additions, alterations, maintenance and repairs. This industry does not install, tint or repair automotive glass and it does not install prefabricated window units.
Growing demand for flat glass products in construction and automotive industries, on account of their characteristics, such as transparency, strength, workability, and transmittance is expected to positively influence the market growth.
Despite the current pandemic situation, the end-users of this market is recovering to operate in full capacities from 2021 beginning. Along with this, the recovering manufacturing activities across the globe are expected to mitigate to numerous potential negative impacts caused during COVID-19 and maximize their opportunities in future.
Table of Contents
Market Overview
The U.S contract glazing is expected to grow to $10,579.50 million by 2025
Growth momentum is expected to accelerate during the forecast period with 4.72% CAGR
The rising product application in the automotive and construction industries is projected to drive the market growth.
Northeast region is anticipated to witness the highest CAGR over the forecast period, as it is the most economically developed, culturally diverse, and densely populated region.
Key Trends
Green building initiatives across various regions, especially in Europe, are anticipated to propel the demand for contract glazing in the coming years.
a rising number of old vehicles that require regular maintenance and repairs is anticipated to augment the automotive aftermarket segment which in turn will be propelling growth of the market.
The growing importance of aesthetics in the homecare industry industry is also supporting the growth of the market.
Key Market Players
Some of the key players in the market are Benson Industries, Binswanger Glass, Crown Corr, Enclos Corp, Gamma.
The industry is characterized by intense competition among both domestic and internationally reputed market participants. Market players are facing tough competition from foreign companies that are bidding at extremely low prices to gain projects.
Companies are also adopting certain strategic initiatives, M&A activities to increase their production capacity and to enhance their product portfolio to cater to the growing demand, particularly in the developing regions.
Growth Drivers and Challenges
Increasing the construction of hotels, office buildings, and retail stores in the U.S. is driving the demand.
Growing demand for flat glass products in construction and automotive industries, on account of their characteristics is also playing a critical role in shaping growth positively.
The lack of a skilled workforce in the country is anticipated to restrain the demand for contract glazing
High production cost and technologies used for the production of commercial glazing are complicated and expensive which is challenging new players to enter the market