Newark, NJ, Feb. 04, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global flat glass market is expected to grow from USD 98.23 Billion in 2017 to USD 169.58 Billion by 2025 at a CAGR of 7.06% during the forecast period 2018-2025. Growing emphasis on energy efficiency, rising demand from the construction industry and growth of the automotive industry are the factors that are driving the flat glass market.
When the molten glass is spread out in the form of sheets on a metal plane, it makes flat glass. Flat glass is mostly utilized in windows, doors, automotive glass, mirrors and solar panels. Flat glass can be bent after it’s made which is very beneficial for automotive and architectural applications. Growing emphasis on solar energy as a clean alternative fuel is expected to propel demand for flat glass over the forecast period.
Global emphasis on energy efficiency is driving the demand for flat glass for architectural, construction, automotive and solar energy purposes. On the other hand, energy-intensive manufacturing process and implementation of stringent emission norms are expected to pose a major challenge to the global flat glass industry.
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Key players operating in the global Flat Glass market include Asahi Glass, Saint-Gobain, Nippon Sheet Glass, Guardian Industries, Taiwan Glass, Xinyi Auto, CSG Architectural, Corning Inc., Central Glass, Schott AG, Sisecam, NSG Group, AJJ Ltd., Cardinal, Independent Co. Ltd., OldCastle among others. To serve to the insatiable demand of India and China most of these firms are ramping up their production facilities locally at a rapid pace.
- To effectively compete in the market space, companies are launching newer, improved, innovative products and also focusing on increasing the production. For instance Saint Gobain Saint-Gobain is to invested around USD 150 million over the period of two years 2016-1017 to develop production capacity at its glass facility near Chennai, India’s largest such facility. A third flat glass production facility (the Group’s fifth float in India) and a second coater for the construction market will be built on this site. The plant will produce premium high performance, energy efficient glass using leading-edge technologies which contribute to the environment protection.
- In order to cope with strict environmental norms that are being imposed on the industry all the major players have undertaken the overhauling and modernization of their manufacturing plants. For instance In 2017 AGC carried out renovation work on the Cuneo plant in Italy using the most innovative design techniques. The upgraded float line significantly increased the plant capacity, reducing energy consumption by 25%, with a corresponding positive impact on its performance and product quality. Lower energy consumption also meant a remarkable reduction in atmospheric emissions, with 50% less CO (carbon monoxide), 14% less CO2 (carbon dioxide) and 30% less NOx (nitrogen oxides).
Float glass led the market with 62.16% of total volume in 2016
Technology segment is divided into float glass, rolled glass and sheet glass. Float glass segment held the largest share of 62.16% of total volume in 2017 on account of its extensive use for construction and architectural purposes.
Coated Glass segment to grow at 9.18% CAGR in 2018-2025
Product is categorized into basic float glass, toughened glass, coated glass, laminated glass, extra clear glass and others. Toughened glass held the largest market share by volume at 34. 41% in 2017 owing to its wide acceptance in building and construction industry. Coated glass segment is projected to witness highest growth rate of 9.18% due to rising worldwide demand for heat reflective and low E glass. Laminated glass is also to grow at moderate pace due to its shatterproof quality being of use in manufacturing of automobile windshields.
Construction segment accounted for USD 75.02 billion in 2017
Application segment is divided into construction, automotive, solar energy and others. Construction segment led the global market for flat glass due to their property for making buildings more energy efficient without compromising on construction strength. Construction segment accounted for USD 75.02 billion in total revenue during 2017. Solar Energy segment is forecasted to grow at highest CAGR of 9.87% on account of rising acceptance of solar energy as a clean alternative source in tropical regions of the world and foundation of International Solar Alliance leading to huge demand generation for low E coated solar flat glass.
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Regional Segment Analysis of the Flat Glass Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Asia Pacific region led the demand for flat glass with 44.16% of total global revenue in 2017 followed by North America. Asia Pacific region dominated the global flat market due to huge ongoing housing and commercial construction activities and implementation of green building standards in construction processes. Region is also generating highest demand for automobiles which in turn in generated huge demand for flat glass. Emphasis on generation of green solar energy in China and India is driving the demand for low E coated flat glass market thus making Asia Pacific global demand hub for flat glass. North America and Europe on account of their stagnant economic conditions are expected to progress at sluggish pace. Middle East region projected to grow at robust pace on account of ongoing construction boom in Qatar, Saudi Arabia and UAE.
About the report:
The global flat glass market is analysed on the basis of value (USD Billion), volume (Million Square Meters), consumption (Million Square Meters), imports (Million Square Meters) and exports (Million Square Meters). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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