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Flat Glass Market Expected to Grow at a CAGR of 6.7% - Exclusive Report by Reports and Data

Reports And Data

Reports And Data

Flat Glass Market Size – USD 116.32 Billion in 2019, Market Trends – High demand from developing nations.

NEW YORK CITY, NY, UNITED STATES, November 23, 2021 / -- The Flat Glass Market is forecast to reach USD 189.65 Billion by 2027, according to a new report by Reports and Data. Insulated flat glass is experiencing increasing deployment because it reduces pollution, saves energy, and improves comfort inside the building. The improved properties of sound insulation and thermal insulation provided by these products are expected to stimulate demand. Factors such as growing urbanization, the increase in the real estate sector, the use of solar products, and product innovation are providing substantial stimulus for market growth. The growth of the solar energy market, due to the growing dependence on renewable energies, as well as the subsidies available for energy storage, will propel the growth of the studied market. As there are only a few products involved in the production of flat glass, they cannot be replaced by others. However, fluctuating commodity prices, coupled with weak supply chain management, have a significant effect on the overall price of flat glass products, which undermines market growth.

The Asia-Pacific region is projected to account for ~43% of the global increment in flat glass area demand in 2027. Growth will be primarily from broad advancements in industrialization and urbanization throughout the region. Several other Asia-Pacific countries like India, Indonesia, and Vietnam are expected to rank amongst the world's fastest-growing flat glass markets. India is forecasted to become the world's largest net importer of flat glass has fueled investment in production in several other Asia-Pacific countries. Malaysia is the leader, where massive investments are driving substantial capacity expansions which could make Malaysia the second largest Asia-Pacific flat glass producer behind China.

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Top Companies Listed in the Flat Glass Market Report:
Saint Gobain, Asahi Glass Company, Corning, China Glass Holding, Nippon Sheet Glass, Vitro, Guardian, Euroglass, Cardinal, and Schott, among others.

Further key findings from the report suggest:

The construction industry is the most-significant end-user segment in the market studied. Besides, the current trend of smart city projects should also stimulate demand for flat glass. Glasses are widely used in the construction industry, in windows, facades, doors, interior partitions, railings, and storefronts, among other parts of the building, thus offering the possibility of floating glasses.

Body-tinted Float glass is a new type of glass, in which molten dyes are added for coloring having solar radiation absorption properties. This type of glass saves energy, reduces the penetration of heat into buildings, and offers a striking visual effect.

The Asia Pacific construction sector has grown steadily in recent times due to the presence of rapidly growing economies, rapid urbanization, and increased infrastructure spending. The growing presence of international companies in the Asia-Pacific region has also generated demand for the construction of new offices, production houses, buildings, etc., thereby driving the growth of the construction sector in the region.

Moreover, international suppliers are moving their manufacturing base to the Asia-Pacific region. It may be due to the availability of inexpensive unskilled and skilled workers in the area. Fast-paced industrialization and urbanization in India, China, and other countries in the Asia-Pacific region, combined with the adoption of smart and energy-efficient technologies as advanced construction practices have a positive influence on the request for flat glass.

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Market Overview:
Increasing consumer inclination towards sustainability and thus considering products based on criteria such as circularity and carbon footprint is expected to change materials and chemical market trends during in the coming years. The growing consumer concern about carbon emissions has prompted industry players to make investment in renewable energy, de-carbonization of transportation, and energy efficiency. These trends are expected to have a significant impact end markets for chemicals, notably in construction and automotive.

Increasing focus of the materials and chemical companies on adoption of de-carbonization technologies, re-examination of their assets, and diversification away from hydrocarbons to some extent will favor global Flat Glass market growth during the forecast period.

Competitive Landscape:
The report provides an extensive assessment of the prominent companies operating in the materials and chemical industry to offer better insights into competition scenario on a regional and global level.

Rise in competition in the global market has led to increasing innovation and technological advancement in the materials and chemical sector to meet the rising demand of environmentally conscious consumers. Industry players in the Flat Glass market are adopting the strategy of forward integration to cater increasing product demand, while adapting to the sustainability trends and to expand their in the global market.

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Product Outlook
Toughened Glass
Basic Float Glass
Laminated Glass
Insulated Glass
Coated Glass

Extra Clear Glass

Technology Outlook
Sheet Glass
Rolled Glass
Float Glass

Application Outlook
Solar Energy

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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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