Pune India, June 17, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the flat glass market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the flat glass market is present across various countries in the above-mentioned regions.
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The report provides detailed understanding of the market segments which have been formed by combining different prospects such as the product type, technology, end-use industry, and others. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global flat glass market are Asahi Glass, Saint-Gobain, Nippon Sheet Glass, Guardian Industries, Taiwan Glass Ind. Corp., Sisecam Group, Fuyao Glass Industry Group, Vitro, S.A.B. De C.V., CSG Holding Co., Ltd., and Central Glass among others. To achieve a substantial market share in the worldwide flat glass market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures. Among these, Asahi Glass is one of the most significant manufacturers and distributors present in the global flat glass market.
Flat glass is manufactured by spreading out molten glass in sheets on a metal plane to form a glass as flat as the sheets of paper. It mainly refers to all types of glass manufactured in sheets, such as cast glass, float glass, and blown flat glass. This type of glass is produced via controlled chemical and thermal reactions to ensure toughness in the structural formation.
The ongoing trend of environmentally friendly practices across the workplace and in domestic settings has led to the adoption of flat glass in large commercial building construction. The building industry has been using glass as insulation material, external glazing material, structural component, cladding material. In addition, the glass is rapidly being used to make delicate looking fenestrations on conventional windows as well as facades. Hence, growth of the global construction and infrastructure industry is boosting growth of the global flat glass market.
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Scope of Flat glass Market Report
| Report Metric | Information |
| Study Period | 2021-2029 |
| Base Year | 2021 |
| Forecast Period | 2022-2029 |
| Market Share Unit | USD Billion |
| Segments Covered | Product Type, Technology, End-Use Industry, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle-East and Africa |
| Major Players | Asahi Glass, Saint-Gobain, Nippon Sheet Glass, Guardian Industries, Taiwan Glass Ind. Corp., Sisecam Group, Fuyao Glass Industry Group, Vitro, S.A.B. De C.V., CSG Holding Co., Ltd., Central Glass among others |
Segmentation Analysis
Laminated glass segment is expected to be the fastest growing segment in 2021.
The product type segment includes basic float glass, toughened glass, coated glass, laminated glass, extra clear glass, and others. Laminated glass segment is expected to witness highest growth rate during the forecast period. The benefits associated with laminated glass such as enhanced UV filtration, enhanced sound abatement & Sound Transmission Class (STC) ratings, hurricane impact glazing, and reduce inherent visual distortion has primarily boosted growth of this segment.
Rolled segment is expected to be the fastest growing segment in 2021.
The technology segment includes float, rolled, and sheet. Rolled segment is expected to witness highest growth rate during the forecast period. Growth of this segment is mainly driven by growing demand for rolled flat glass in decorative and privacy applications. In addition, this type of architectural glass is rapidly being used in automotive vehicles and in the construction industry.
Solar energy segment is expected to be the fastest growing segment in 2021.
The end-use industry segment includes construction & infrastructure, automotive & transportation, solar energy, and others. Solar energy segment is expected to anticipate to witness highest growth rate during the forecast period. Flat glass has become one of the key components in solar panels to protect PV cells from external forces, such as hail, weather, and airborne debris. Hence, increasing number of solar energy installations around the globe is expected to be opportunistic for growth of the flat glass market.
Regional Analysis
The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the flat glass include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan India, Brazil, Peru, UAE, South Africa and Saudi Arabia.
Asia-Pacific region witnessed a major share. Increasing infrastructural developments across the developing economies such as India and China; huge automotive production; and increasing installation of solar panels has primarily driven growth of the Asia-Pacific flat glass market. However, Europe is expected to witness considerable growth rate during the forecast period. Growth of the market in this region is mainly driven by increasing applications of flat glass in commercial and residential construction.
Country Analysis
Germany
Germany flat glass market size was valued at USD 8.80 billion in 2021 and is expected to reach USD 13.79 billion by 2029, at a CAGR of 6.1% from 2022 to 2029.
Germany is one of the leading nations in the mechanical engineering, manufacturing, automotive, and electrical industries. In addition, according to the Germany Trade & Invest, the economic development agency of the Federal Republic of Germany, this country is the leading automotive market in Europe, accounting for about 25% of all passenger cars manufactured in the region. Hence, rising demand for flat glass from automotive sector in the country fuels growth of the flat glass market.
China
China flat glass market size was valued at USD 28.60 billion in 2021 and is expected to reach USD 44.48 billion by 2029, at a CAGR of 6.0% from 2022 to 2029. China is the world’s largest light vehicle manufacturer. In addition, this country is leading automotive producer, consumer and exporter. In addition, the country is significantly investing in construction and infrastructure development. For instance, the China’s 14th Five-Year Plan period (2021-2025) is a well-calibrated layout made for the development of new infrastructure in the country. The aforementioned factors has driven demand for flat glass in automotive as well as construction sector in the country.
India
India flat glass market size was valued at USD 7.37 billion in 2021 and is expected to reach USD 12.79 billion by 2029, at a CAGR of 7.5% from 2022 to 2029. India is one of the strongest growing economies in Asia. In addition, the emerging popularity of flat glass in this country is expected to create lucrative growth opportunities for flat glass market. On the other hand, in past few years, the Indian construction industry has become an attractive destination for foreign investment. Hence, growth of the construction sector in the country is opportunistic for growth of the market.
Covid-19 Impact
Covid-19 had a major impact on almost all of the industries such as construction, manufacturing, automotive, etc. The demand for flat glass has decreased during the period owing to the regulations on social distancing and supply chain disruptions. In most of the regions, the manufacturing facilities of flat glass were closed in the second and third quarters of fiscal year 2020. The major end-users were also temporarily closed during this period and thus the demand for flat glass significantly decreased.
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