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Flat Glass Market - Growth, Trends, and Forecast (2020 - 2025)

ReportLinker
·4 min de lecture

The flat glass market is expected to reach a CAGR of over 4%, over the forecast period. Growing demand for electronic displays and increasing demand from the construction industry are driving the market.

New York, Oct. 12, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Flat Glass Market - Growth, Trends, and Forecast (2020 - 2025)" - https://www.reportlinker.com/p05976759/?utm_source=GNW
On the flipside, fluctuating raw material prices and the impact of COVID-19 on the market studied are hindering the growth of the market.

- Advancement in the automotive industry is expected to offer various opportunities for the growth of the market in the near future.
- Asia-Pacific region is expected to account for the largest share of the global flat glass market with the largest consumption coming from countries such as China, Japan, ASEAN Countries, etc.,

Key Market Trends
Construction Industry to Drive the Demand for Flat Glass

- The construction industry is the largest end-user segment of the market studied. Moreover, the ongoing trend of smart city projects is also anticipated to drive the flat glass demand.
- Flat glasses are made of sodium silicate and calcium silicate, and are available from 2mm to 20mm thickness ranges, for several applications. They have a weight range of 6kg/m2-36 kg/m2. These glasses are often considered as building blocks for several types of architectural and interior applications.
- Glasses are being used extensively in the construction industry, in windows, façade, doors, interior partitions, balustrades, shop fronts, and railings for stairs and balconies, among other building parts, providing potential opportunity to float glasses.
- The body-tinted float glass is a new type of glass, in which, melted colorants are added for coloring and solar-radiation absorption properties. This type of glass saves energy, reduces heat penetration into buildings, and provides a striking visual effect.
- Previously, flat glass was used for smaller windows in domestic housing, since larger windows required toughened glasses. Currently, flat glass can also be toughened by putting it through a heating process, which very nearly melts it, and then cools it to ambient temperatures, using a jet of cold air. This glass requires a greater pressure to break. This characteristic makes the glass suitable for use in building applications.
- The construction sector of Asia-Pacific has been witnessing a steady growth, in the recent past, owing to the presence of fast-growing economies, rapid urbanization, and rising infrastructure spending. The increasing presence of foreign companies in the Asia-Pacific region has also created demand for the construction of new offices, buildings, production houses, etc., thereby, driving the growth of the construction sector in the region.
- Owing to all the aforementioned factors, the market for flat glass is projected to grow during the forecast period.

Asia-Pacific Region to Dominate the Market

- Asia-Pacific region is expected to account for the largest share of the global flat glass market with the largest consumption coming from countries such as China, Japan, ASEAN Countries, etc.,
- Moreover, international vendors are shifting their manufacturing base to the Asia-Pacific region. This can be due to the availability of cheap unskilled and skilled workers in the region.
- Rapid industrialization and urbanization in India, China, and other countries in the Asia-Pacific region, combined with the adoption of smart and energy-efficient technology as advanced construction practice have a positive influence on the flat glass demand.
- An increase in applications, such as window and windshield, in countries, such as India and China, may also drive the market. For instance, in India, according to the IBEF, 24.97 million vehicles were sold in the recent past.
- China’s 13th Five Year Plan started in 2016, as it was an important year for the country’s engineering, procurement, and construction (EPC) industry. In addition, the country ventured into new business models domestically and internationally, during the year. Although the construction sector slowed down after 2013, it is still a major contributor to the GDP of the country. The China’s construction industry developed rapidly in the recent past, due to the central government’s push for infrastructure investment, as a mean to sustain economic growth.
- All the aforementioned factors, in turn, are expected to drive the demand for the flat glass in the region during the forecast period.

Competitive Landscape
The flat glass market is highly consolidated, with the top five players constituting more than half the market share. Some of the key players include Saint-Gobain, AGC Inc., GUARDIAN GLASS LLC, and Nippon Sheet Glass Co., Ltd,, Sisecam Group, among others.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Read the full report: https://www.reportlinker.com/p05976759/?utm_source=GNW

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