Vancouver, Aug. 17, 2023 (GLOBE NEWSWIRE) -- The flat glass market achieved a size of USD 140.30 Billion in 2021 and is projected to exhibit a 7.5% compound annual growth rate (CAGR) in revenue throughout the forecast period, as indicated by the latest analysis conducted by Emergen Research. The surging demand for flat glass within the automotive sector, serving diverse applications in passenger vehicles, stands as a pivotal driver for the upswing in market revenue. Additionally, the ascending utilization of flat glass in the production of solar panels is anticipated to steer the market's revenue growth in the upcoming years.
In the realm of solar panel manufacturing, a significant portion of the module's mass is attributed to the use of flat glass, accounting for approximately 97% of the module's overall weight. Within solar power systems, the role of glass encompasses safeguarding components, furnishing structural integrity to the module, and encapsulating cells.
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Furthermore, glass finds purpose in forming mirrors tailored for solar power systems that concentrate sunlight. Its significance extends further as it's commonly employed in solar applications due to its capability to transmit light without absorptive loss, allowing for the concentration of sunlight and other light sources across diverse applications. Notably, glass can be produced with a reflective coating on one or both sides, enhancing its utility in various contexts.
Nonetheless, a prominent drawback associated with glass is its tendency to induce significant glare. The majority of glass compositions lack earthquake resistance, rendering them ill-suited for regions prone to frequent seismic activity. To bolster homes against earthquakes, a costly form of glass treatment can be employed to confer earthquake resistance, although the cost-effectiveness of such an approach remains limited. Incorporating flat glass into building structures might entail heightened costs for ensuring safety and security, given that glass inherently introduces a high degree of transparency.
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Scope of Research
| Report Details | Outcome |
| Market Size in 2021 | USD 140.30 Billion |
| CAGR (2022–2030) | 7.5% |
| Revenue Forecast to 2030 | USD 261.64 Billion |
| Base Year for Estimation | 2021 |
| Historical Data | 2019–2020 |
| Forecast Period | 2022–2030 |
| Quantitative Units | Revenue in USD Billion and CAGR in % from 2022 to 2030 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Product, application, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | Saint Gobain, Cevital Group, Vitro, Euroglas, Schott AG, Cardinal Glass Industries, Guardian Industries, Gulf Glass Industries, Scheuten Glass, and China Glass Holdings Limited. |
| Customization Scope | 10 hours of free customization and expert consultation |
Major Companies and Competitive Landscape
The flat glass market is fairly consolidated with a few small and medium-sized market players accounting for majority of revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective in the market. Some major players included in the market report are:
- Saint Gobain
- Cevital Group
- Vitro
- Euroglas
- Schott AG
- Cardinal Glass Industries
- Guardian Industries
- Gulf Glass Industries
- Scheuten Glass
- China Glass Holdings Limited
Strategic Development
- In May 17, 2022, Saint-Gobain became the first company in the world to produce flat glass with zero carbon emissions. This technological achievement was made possible by using 100% recycled glass (cullet) and 100% renewable energy (biogas and decarbonized electricity). It was trialed for a week at Saint-flat Gobain's glass manufacturing plant in Aniche, northern France.
- In November 09, 2021, Sişecam, a global leader in flat glass, glassware, glass fiber, and glass packaging, as well as soda and chromium compounds, announced an investment in the latest EUR 84 million glass packaging furnace in Eskişehir. The latest investment, with a yearly capacity of 155,000 tons, is planned
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Some Key Highlights From the Report
- The insulated segment is expected to register a steady growth throughout the forecast period due to their demand for manufacturing glass panes, doors, and windows owing to their superior insulation qualities provided by air space between two layers of glass.
- The architectural segment is expected to register a significant market revenue growth owing to rising construction demand across the globe. Flat glass is applicable in every single building for various outdoor and indoor applications.
- The Asia Pacific market is expected to register a considerable growth due to the ever-growing construction industry in China and India.
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Emergen Research has segmented the flat glass market based on product, application, and region:
- Product Outlook (Revenue, USD Billion; 2019–2030)
-
- Basic
- Laminated
- Insulated
- Tempered
- Coated
- Others
-
- Application Outlook (Revenue, USD Billion; 2019–2030)
-
- Architectural
- Automotive
- Others
-
- Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East & Africa
- North America
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