The global float glass market was valued at US$ 53,709. 30 million in 2020 and is projected to reach US$ 86,984. 42 million by 2028; it is expected to grow at a CAGR of 5. 2% from 2021 to 2028.
New York, Jan. 07, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Float Glass Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type and Application" - https://www.reportlinker.com/p06195592/?utm_source=GNW
Float glass is an extremely smooth and distortion free glass which is being used in various end-use industries such as building and construction, automotive, electronics, solar, among others.It is basically made by pouring the molten glass from the furnace into a chamber which contains a bed of molten tin.
The increase in the use of float glass in interior design and modern architecture has played a major role in increasing the demand of float glass and are used in other building and construction applications which includes ceiling, flooring, reflective, coated, windows, mirrors, tabletops, and insulated glass. In addition, the growing use of float in automotive applications is expected to drive the float glass industry over the forecasted period.
Based on application, the float glass market is segmented into automotive and transportation, building and construction, electronics, and others.In 2020, the building and construction segment dominated the market.
Float glass is increasingly becoming the most used glass for consumer applications.While in a semi-molten, waxy state, it can be easily shaped and formed to suit various applications.
Clear float glass, tinted float glass, and textured float glass are used in residential and commercial applications, such as windows and doors, for aesthetic and functional purposes.The increase in the use of the glass in interior design and architecture has played a major role in increasing the demand of float glass along with being used towards the ceiling, flooring, reflective, coated, windows, mirrors, tabletops, and insulated glass.
The market for the building and construction segment is further segmented into residential applications comprising domestic houses; commercial applications consisting of retail outlets, shopping malls, and airports; and industries.
Geographically, the float glass market is segmented into North America, Europe, Asia Pacific (APAC), South and Central America (SAM), and Middle East & Africa (MEA).Asia Pacific is the fastest growing and the dominating region in the global market.
Asia Pacific is the dominating region for float glass market over the forecast period.The growing building and construction industry along with the increasing projects related to the field of renewable energy source and development of solar industry is driving the growth of float glass market in Asia Pacific region.
Asia-pacific region especially China, Japan and India are expected to increase the demand for float glass as compare to other geographical regions which is due to an expanded and established automotive, building and construction sector in this region.Along with this, increasing manufacturing industries coupled with growing industrialization which offers ample opportunities for key market players in the float glass market.
Presence of various domestic and international players in the region will increased the focus of manufacturers on providing innovative products leading to increased opportunity for the float glass market to grow.
The shutdown of various manufacturing plants and factories in North America, Europe, Asia Pacific, South America, and the Middle East & Africa due to the COVID-19 pandemic has hampered the global supply chain and manufacturing processes, delivery schedules, and product sales.In addition, the restrictions imposed by countries in Europe, Asia, and North America are affecting business collaboration and partnership opportunities.
The ongoing COVID-19 pandemic has had a significant impact on the float glass market.The disruptions in the production and supply chain have had a negative impact on the float glass market.
The glass shortfall is expected to last until 2021, causing disruptions in a variety of businesses.Glass supply is tightening and has become more costly to purchase because of a various issue, including the worldwide pandemic and international tariffs.
As a result of the global pandemic, many factories and manufacturers have had to suspend or slow down glass production, making it exceedingly difficult to satisfy current demands. Restarting the factories after being closed or producing at a low level for an extended period of time may be exceptionally challenging, especially if the companies aren’t operating at full capacity owing to health and safety regulations. Further, with COVID-19 vaccinations being a high priority for both the public and the health business, the availability of glass has been redirected to the cause which has led to the unavailability of glass for other industries, thus creating shortage of glass in the market.
AGC Inc.; Nippon Sheet Glass Co., LTD (NSG Group); Xinyi Glass Holdings Limited; SCHOTT AG; Guardian Industries Holdings; Cardinal Glass Industries, Inc.; China Glass Holdings Limited; Shenzhen Sun Global Glass Co. Ltd.; Saint Gobain Glass India; and Qingdao Migo Glass Co. Ltd. are among the major players operating in the global float glass market.
The overall global float glass market size has been derived in accordance with to both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the global float glass market.
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