The global Flat Glass Market is likely to gain traction from the rapid industrialization. It is driving the demand for flat glass as they are being used extensively in the commercial buildings to conserve energy. It is done by maximizing the usage of natural light. Fortune Business Insights™ provided this information in a recent report, titled, “Flat Glass Market Size, Share & Industry Analysis, By Type (Float, Sheet, and Rolled), By Product Type (Coated, Extra Clear, Laminated, Toughened, and Others), By Application (Architecture, Automotive, Solar Panels, and Others), and Regional Forecast, 2019-2026.” The report further states that the flat glass market size was USD 98.37 billion in 2018 and is projected to reach USD 153.21 billion by 2026, exhibiting a CAGR of 5.7% during the forecast period.
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List of the Key Companies covered in the Flat Glass Market Research Report are;
- AGC Inc.
- NSG Group
- Guardian Industries
- Şişecam Group
- Taiwan Industry Glass Corporation
- Fuyao Glass Industry Group
- Vitro, S.A.B. De CV
- Central Glass
- CSG Holdings Co. Ltd.
- Other key players
This Report Answers the Following Questions:
- What are the flat glass market trends, growth drivers, and hindrances?
- How will the market be affected in the near future?
- What are the most vital growth drivers and barriers that the market may come across in the coming years?
- Which region is expected to dominate by generating the highest revenue?
- Which segment would lead by procuring the maximum share?
Drivers & Restraints:
Rising Government Initiatives to Promote Energy Efficiency will Drive Growth
Flat glass is gaining popularity in the building & construction industry owing to its ability to provide excellent thermal insulation and acoustic insulation. Also, the increasing number of infrastructural development and construction activities would contribute to the flat glass market growth in the near future
Furthermore, the rising utilization of flat glass in commercial and residential buildings is enabling the usage of natural light and is reducing the consumption, as well as the cost of artificial lights. The governments of various countries are also implementing various stringent norms and regulations to promote energy efficiency. Researchers say that buildings adopting these rules are consuming approximately 40%-60% less energy, unlike the conventional buildings. However, the decomposition of raw materials and the combustion of fuel oil often emit carbon dioxide in the atmosphere. It may obstruct the market growth.
Ability to Improve Solar Gain will Drive Growth of the Coated Segment
Based on product type, the market is categorized into toughened, laminated, extra clear, coated, and others. Out of these, in 2018, the coated segment held 23.9% flat glass market share. This growth is attributable to the possession of numerous beneficial properties of coated flat glass. These include enhanced self-cleaning, hydrophobic, anti-reflection, and insulation properties. Such glass aids in improving solar gain and in maintaining the heat inside the building. The laminated segment, on the other hand, holds the major share fueled by their upsurging demand from the construction and automotive industries. It is because they are capable of remaining intact when broken.
Asia Pacific to Remain at the Forefront Stoked by Rising Infrastructural Development
Geographically, the market is divided into the Middle East and Africa, South America, Asia Pacific, Europe, and North America. Amongst these, Asia Pacific generated USD 53.41 billion in 2018 in terms of market revenue. This growth is mainly attributable to the rising investments by the governments of various countries in infrastructural development, as well as construction activities. Besides, China, being the largest contributor to the demand for flat glass, would propel the overall growth in this region. North America is expected to grow considerably backed by the presence of various government regulations on constructing energy efficient buildings.
Quick Buy – Flat Glass Market Research Report:
Key Players Focus on the Strategy of Investment to Increase Sales
The market consists of many companies. But only five companies out of those account for around 60% of the worldwide production capacity of flat glass. They are adopting strategies, such as the development of state-of-the-art technologies, superior operational efficiency, and diversified product portfolios to strengthen their positions. Below are two of the latest key industry developments:
- September 2019: Guardian Glass invested huge sums in the modernization and upgradation of glass production lines in Hungary and the U.K.
- April 2018: Saint-Gobain acquired 50% stake in the flat glass production line of JJG situated in the Shandong province of China to surge the former’s production capacity
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