Jade Glass Market Is Estimated To Witness High Growth Owing To Increasing Demand From Architectural Industry

The Jade Glass Market is estimated to be valued at US$ 1.18 Bn in 2024 and is expected to exhibit a CAGR of 20.8% over the forecast period of 2024- 2031, as highlighted in a new report published by Coherent Market Insights.

The increasing demand for jade glass from architectural industry is one of the major drivers propelling the growth of the jade glass market. Jade glass is gaining popularity in architectural industry due to its unique translucency and elegance. Its attributes such as high strength, scratch resistance, chemical stability and durability make it suitable for use in elevator modules, railings, shower enclosures and flooring. The luminous characteristic of jade glass enhances the aesthetic appeal of buildings. Thus, the rising commercial construction activities are fueling the demand for jade glass.

Key Market Trends: Increasing usage of jade glass in photovoltaic applications and rapid growth of construction industry in Asia Pacific are the major trends witnessed in the global jade glass market.

The usage of jade glass in photovoltaic industry is growing at a brisk pace. The semi-transparency and thermal conductivity of jade glass makes it appropriate for bifacial photovoltaic modules. Jade glass helps in increasing the power output from solar modules by allowing light to penetrate from both sides.

Asia Pacific region is witnessing rapid growth in construction industry owing to rising population and urbanization. Countries such as China, India and Indonesia are witnessing significant rise in residential as well as commercial construction. This is driving the demand for glass products including jade glass in Asia Pacific region. The availability of low labor costs and raw materials in Asia Pacific has made it an attractive market for jade glass manufacturers. More coverage can be found in the sample copy.

Jade Glass Market Opportunities: The growing construction industry worldwide has increased the demand for aesthetically appealing and durable glass products for windows, doors and interior décor. Jade glass is increasingly being used in high-end residential and commercial construction projects due to its luxury appearance and thermal insulation properties. It helps maintain indoor temperature and provides UV protection. The booming real estate sector in Asia Pacific and Middle East is a major driver for the jade glass market in construction applications.

Jade glass is gaining popularity in luxury and electric vehicles for windshields and windows. Its strength and scratch resistance allows it to withstand harsh outdoor environments. Additionally, jade glass provides excellent sound insulation and helps maintain a comfortable temperature inside vehicles. The growing electric vehicles industry offers significant growth opportunities for specialized glass makers. Leading automakers are focusing on enhancing passenger experience with premium interior glass materials like jade glass.

Key Market Takeaways: Jade Glass Market; market size in 2024: USD 1.18 Bn; CAGR: 20.8%, Forecast Period: 2024- 2031. The plain jade glass segment dominated the market in 2019 and is expected to maintain its dominance over the forecast period, owing to low cost and ease of production.

Based on application, the construction segment accounted for the largest revenue share in 2019 due to increasing use of jade glass in residential and commercial building projects. By region: North America is expected to hold a dominant position over the forecast period, due to growth in infrastructure development projects and rising consumer spending.

Competitor Insights: AGC, PPG, Corning, Guardian Industries, NSG, Saint-Gobain

Recent Developments in Jade Glass Market: In July 2023, several manufacturers announced plans to use recycled glass in their jade glass production processes going forward. This was welcomed as an environmentally responsible move. Customers are increasingly interested in eco-friendly materials and production methods. Reusing waste glass reduces carbon footprint. Companies experimenting with different recycled glass contents reported maintaining the luminous emerald tone. Some introduced new matte and rippled surface finishes on recycled jade glass pieces that appealed to modern aesthetics. Marketing the sustainable attributes is attracting a conscious consumer base. Projects recycling glass from end-of-life products into fresh jade glass works are in development and will be launched later in 2023-2024.

In August 2023, BMW signed an agreement with a glass manufacturer to develop jade windshields and rear windows for future electric vehicles. Meanwhile, Mercedes-Benz began crash-testing jade glass samples to approve their use in sunroofs, light/brake clusters, and infotainment displays. Despite the early stages, industry experts predict that if testing yields positive results, mass production of certain auto components using jade glass could commence by late 2024. Full coverage of the report available here.