The global flat glass market was valued at US$ 100,391.5 million in 2018, according to Flat Glass Market Report, by Glass Type (Tempered, Laminated, & Annealed; Coated Glass, Mirror Glass, and Others), by Application (Automotive Glasses, Windows & Glass Doors, Solar Panel, Façade, and Others), by End-use Industry (Automotive, Building and Construction, Energy, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East and Africa) published by Coherent Market Insights.
The global flat glass market is expected to reach US$ 176,748.6 Million by 2027, exhibiting a CAGR of 6.6% during the forecast period (2019-2027). The market for flat glass is majorly driven by increasing government initiatives for the production of flat glass. For instance, according to the International Labour Organization (ILO), in 2008, the Government of China offered around US$ 0.54 trillion stimulus package to promote major industries such as automobiles and construction in China. Rising infrastructure spending and favorable government schemes for promoting the construction industry are expected to drive demand for flat glass in residential construction projects. Such factors are expected to drive growth of the flat glass market over the forecast period.
However, growth of the global flat glass market is expected to be hampered by the high cost of raw materials such as silica sand, soda ash, and others. Soda ash is one of the most expensive raw materials used in flat glass manufacturing and represents about 16% of the batch weight, but around 60% of the batch cost.
To know the latest trends and insights prevalent in this market, click the link below:
Browse 50 market data tables* and 40 figures* on "Flat Glass Market” - Global forecast to 2027.
Key Trends and Analysis of the Flat Glass Market:
- Key players in flat glass market are majorly focusing on the expansion of their business activities, in order to strengthen their market position. These business expansions are further expected to drive the growth of the global flat glass market over the forecast period. For instance, in 2014, Asahi Glass Company announced its plan to expand its flat glass business in Jakarta, Indonesia by investing in the construction of a new furnace, which would be used for the production of float glass, a type of flat glass. The approximate investment announced by the company was US$ 152.6 million. It was expected that the new furnace would increase 40% of the production capacity, which would enhance the production of float glass.
Key Takeaways of the Market:
- Among glass type, coated glass segment is expected to witness significant market growth over the forecast period. The flat glass is coated to serve various functions such as self-cleaning properties and anti-reflection properties amongst others. Coated glass is extensively used in the building and construction industry for manufacturing windows, facades, and verandas. Coated glass has an invisible thermal shield, which retains the heat within the building, thereby improving solar gain.
- Key players are focused on offering advanced technology in flat glass, which facilitates cost effective lighting control in the building. For instance, Brite Solar offers Electrochromic dynamic glass technology, which allows manufacturing of flat glass at low cost. The product offered by company with advanced technology also enables solar cells and electrochromic functions such as modulating solar heat gain on the same piece of glass. Thus, this eliminates the need for external power connections to the construction sites using flat glass.
- Asia Pacific is expected to hold dominant position in the market over the forecast period. The 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 China Association of Automobile Manufacturers (CAAM) and Society of Indian Automobile Manufacturers (SIAM), sales of cars in China stood at 28.03 million units in 2016 and 3.00 million units in India in 2016. The CAAM also expected automobile sales in China to grow by 5% to reach 29.4 million units in 2017. The increase in sales of automotive In China can be attributed to favorable sales tax, which was reduced from 10% to 5% in 2015.
- Major players operating in the global flat glass market include Agc Inc., Nippon Sheet Glass Co., Ltd, 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, Tbk., KCC Corporation, Jinjing Group Co. Ltd., Kaveh Glass Industry Group, JSC Gomelsteklo, Xinyi Glass Holdings Limited, and Kibing Group.