Flat Glass: Market Size. From $133. 07 billion in 2020, the global Flat Glass market is projected to reach $273. 04 billion by 2028. Based on our analysis the market is expected to grow at a CAGR of 9.
New York, Aug. 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Flat Glass Market Analysis & Trends - Industry Forecast to 2028" - https://www.reportlinker.com/p06127667/?utm_source=GNW
4% from 2020 - 2028 timeframe.
Some of the prominent trends that the market is witnessing include focus on eco-friendly approach, increasing applications in automotive sector, and rising focus on building interiors.
Global Flat Glass Market: Market Dynamics
Flat Glass Market possesses huge opportunities connecting to the key metric performances such as fire protection, noise control, neutrality, energy-saving, and self-cleaning among others. In addition, the assets of these glasses are ideal for construction applications. The trends of the Flat Glass Market can be pretentious by raw materials, soda ash, limestone, and sand. In the manufacturing process, the cost structure is deterred mainly by two elements- energy and raw materials. The benefits of the use of this glass in buildings also include energy efficiency by the maximum use of natural light. The growing infrastructural expenditure on the construction of eco-friendly green buildings and increasing solar energy installations across the globe coupled with rising infiltration of glass architecture in residential and non-residential construction are fueling the growth of the flat glass market across the globe. The increasing demand for electronic displays is one of the key factors contributing to the growth of the market.
For instance, In March 2017, Guardian Glass spent over USD 1.5 million and approved engineering design spend for expanding glass facility by 1,000 metric tons in Poland to meet its customer demand in both commercial and residential sectors. This investment will help Guardian Glass to set a strong foothold in the European market by providing a diversified product portfolio and increasing its distribution network.
On the other hand, the government regulations on carbon dioxide emission are likely to obstruct the profit boundaries. In addition, investment in infrastructure projects in developing economies and demand for green buildings will further boost the flat glass market.
Impact of COVID-19 on Flat Glass
The global pandemic of COVID-19 has affected the sales revenue of various industries adversely. The lockdown situation has pushed the economies towards forced recession. Due to the lockdown situation, most of the manufacturing units of flat glass were shut down, and automotive production has been affected severely and impacted the production facilities for several months which resulted in a steep downfall of sales revenues of the flat glass market. The supply chain throughout the world has been fractured. The economic instability due to the pandemic outbreak has also made developers, in both public and private sectors, rethink their projects as debts mount. This has created a downfall in the construction sector. However, it is expected that the flat glass market will recover from this global pandemic by the end of the second quarter of the coming year. The government is taking all the measures to help this sector recover from the impact of Covid-19 and grow exponentially.
Laminated Glass Segment Dominate the Market
The laminated Glass segment accounts for a significant market share during the forecast period, due to increasing demand for laminated glass from the construction and automotive industries owing to its properties. It is chosen in windshields as, in case of an accident, it breaks in the shape of a spider-web and none of the pieces fall off, hence, plummeting the peril of passenger injuries. This has augmented its usage in sunroofs too. It also blocks the transmission of UV rays and the PVB layer, which is sandwiched in between two layers of glass and provides acoustic insulation. Companies, such as Ferrari and Volvo, have incorporated laminated glass in their cars with panoramic sunroofs. It is also used in skylight glazing and Photovoltaic (PV) cells.
Asia Pacific Region is Leading in the Global Market Place
Asia Pacific region is the fastest-growing market of flat glass during the forecast period, due to the huge urbanization, high demand from the construction, infrastructure, automotive, and transportation sectors, and the demand for passenger vehicles from developing countries in this region. China and India are the largest markets for flat glass, owing to the increased focus of India and China on producing electricity through renewable sources and increasing solar energy installations in China, Japan, India, and other emerging countries will create boost the demand for flat glass in the coming years.
List of the Key Players Profiled in the Market Include:
• Guardian Industries Corp.
• Central Glass Co., Ltd.
• Euroglas GmbH
• Asahi Glass Co. Ltd.
• Fuyao Glass Industry Group Co., Ltd.
• CSG Holding Co., Ltd.
• Phoenicia Flat Glass Industries Ltd.
• Compagnie de Saint-Gobain S.A.
• Nippon Sheet Glass Co. Ltd.
• Cardinal Glass Industries, Inc.
• Emerge Glass India Pvt. Ltd.
• Xinyi Glass Holdings Ltd.
• Vitro, S.A.B. de C.V.
• Scheuten Glass Holding B.V.
• Schott AG
• Taiwan Glass Ind. Corp.
List of the Regions/Countries Profiled in the Market Include:
• Rest of Europe
• New Zealand
• Rest of Asia Pacific
• Saudi Arabia
• Rest of Middle East
• Rest of Latin America
Rest of the World (RoW)
• South Africa
Read the full report: https://www.reportlinker.com/p06127667/?utm_source=GNW
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