FLAT GLASS MARKET ANALYSIS

Flat glass is used in construction and automotive industries for windscreens, backlights, and sunroofs among others. Moreover, flat glass has applications in solar panels as well as in interior decoration, mirrors, and greenhouses. On the basis of glass type, flat glass market can be further segmented into tempered, laminated & annealed glass, coated glass, mirror glass, and others. 

Global flat glass market was valued at US$ 121.7 Billion in 2021 in terms of revenue, exhibiting a CAGR of  6.7% during the forecast period (2022 to 2030).

Drivers

Growing end-use industries such as automotive, architecture, energy among others is expected to boost demand for flat glass during the forecast period. The expansion of the building and construction industry is expected to drive the global flat glass market growth over the forecast period. For instance, according to the Global Construction Perspectives and Oxford Economics, the global construction industry is expected to reach US$ 17.5 trillion by 2030, which is US$ 8 trillion rise from 2015. Furthermore, rising demand for energy efficient products is expected to fuel demand for flat glass in energy applications. For instance, flat glass is used in the manufacture of solar control glass, low-E glass, and others. Therefore, rising adoption of energy efficient products is expected to drive growth of the flat glass market over the forecast period.

Furthermore, growing solar energy industry is expected to fuel demand for flat glass. Increasing demand for glass processing machines is facilitating growth of the energy segment, which is further expected to create significant growth opportunities for flat glass market over the forecast period. Rising environmental awareness has led to greater utilization of solar energy, in addition to efforts to reduce dependence on non-renewable energy sources. These factors are expected to propel demand for flat glass over the forecast period.

In terms of revenue, Asia Pacific is expected to hold dominant position in market over the forecast period, accounting for 61.6% market share in 2021. Growth is attributed to increasing sales of automotive vehicles in the region. Flat glass has various applications in the automotive sector such as manufacturing of windshields, windows, headlights, and other automotive components. For instance, according to the International Organization of Motor Vehicle Manufacturers, the automotive production in China increased from 25.22 million units in 2020 to 26.08 million in 2021 .

Figure 1. Global  Flat Glass Market Value Share (%), By Region, 2021

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Market Restraints

Increasing input price of raw materials due to inflation and exchange rates in energy sector are expected to hamper the global flat glass market growth. Moreover, fluctuating price of raw materials used in the glass industry such as silica sand, limestone, heavy fuel oil (HFO) and natural gas (NG), soda ash, and others are expected to restrain growth of the flat glass market over the forecast period.

Market Trends

Rising adoption of energy efficient glass is expected to propel the global flat glass market growth over the forecast period. Low-E glass is one such innovation, which is rapidly utilized by numerous end-use industries such as building & construction industry. Several key players in market are offering Low-E glass for heat control applications. For instance, companies such as Sisecam Group offer Sisecam Low-E Glass, an energy-efficient flat glass, which helps in controlling heat, protects against Ultraviolet (UV) radiation by 68%, and reduces condensation on glass surface. The glass offered by the company is utilized in the construction of small and medium sized commercial buildings and residential applications.

Figure 2. Global  Flat Glass Market Value Share (%), By Glass Type, 2021

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On the base of glass type, tempered, laminated, & annealed segment accounted for the largest revenue share of 62.5% in terms of value in 2021, followed by coated glass, mirror glass, and others segment.

However, the growth of Flat Glass Market was impacted negatively during the COVID-19 pandemic due to restrictions over the operation of construction as well as automotive industries owing to the nationwide lockdown.

Recent Developments

• In June 2021, South Korea-based flat glass producer KCC Glass Corporation started construction of a new float glass plant in Central Java, Indonesia of worth US$ 350 million site. The new glass plant is expected to be operational by 2024.
• In May 2022, Compagnie de Saint-Gobain S.A., a France-based multinational corporation manufacturing glasses and other construction materials, announced that the company achieved zero carbon production of flat glass by using recycled materials and green energy. This initiative is expected to support the company’s strategy to target carbon neutrality by 2050.
• In April 2021, AGC Inc., a Japan-based manufacturer of glass, chemicals and high-tech materials, developed the Smart Inventory System. It is being deployed at the Kansai Plant, Takasago Factory and Amagasaki Factory for the automated management of raw materials. It is expected to reduce annual labor hours by 1,000 hours. Glass plants require procurement planning, inventory checks, ordering and other manual tasks which are time consuming.

Competitive Section

Major players operating in the global  flat glass market include Agc Inc., Nippon Sheet Glass Co., Compagnie de Saint-Gobain S.A., Guardian Industries, China Glass Holdings Limited, Luoyang Glass Company Limited, Fuyao Glass Industry Group Co., Ltd., CSG Holdings Co., Ltd., Euroglas GmbH, Vitro S.A.B. de C.V., Taiwan Glass Industry Corporation, Central Glass Co., Ltd., Cardinal Glass Industries, Inc., PT. Mulia Industrindo, KCC Glass Corporation, Jinjing Group Co. Ltd., Kaveh Glass Industry Group, JSC Gomelsteklo, Xinyi Glass Holdings Limited, and Kibing Group.