The Global Flat Glass Market - Growth, COVID-19 impact and Forecast (2021-2025)
The Flat Glass market is segmented by Technology (Float, Rolled and Sheet); Product type (Tempered, Insulated, Laminated. Basic and Others); Application (Construction, Automotive and Transportation and Others); Geography (North America, Europe, APAC and ROW).
Introduction
Flat glass is a type of glass, initially produced in plane form, commonly used for windows, glass doors, transparent walls, and windscreens. It is commonly used for the manufacture of various flat glass products for the building & construction, automotive, consumer goods, and solar industries.
The growth of the market can be attributed to the high demand from the construction & infrastructure industry and emerging application industries such as automotive & transportation & solar energy
Despite the current pandemic situation, the end-users of this market is recovering to operate in full capacities from 2021 beginning. Along with this, the recovering manufacturing activities across the globe are expected to mitigate to numerous potential negative impacts caused during COVID-19 and maximize their opportunities in future.
Table of Contents
Market Overview
The Global flat glass market is expected to grow to $172.10 billion by 2025.
Growth momentum is expected to accelerate during the forecast period with 7.42% CAGR
Factors such as the rising expenditure on building and construction activities, changes and advancements in the motor vehicle sector are contributing to the growth of the flat glass market.
Asia Pacific region is the fastest-growing market of flat glass owing to the massive urbanization and demand for passenger vehicles from developing countries in this region
Key Trends
Rising demand for innovative flat glass products
Increasing investment and concentration of players towards the solar glass production expected to provide lucrative growth opportunities
Increasing demand for green buildings
Key Market Players
Some of the key players in the market are Saint-Gobain, AGC, Guardian Industries, Taiwan Glass , Nippon Sheet Glass, Sisecam Group.
The key players are dominating the market by adopting modern and innovative technologies to customize the product, enhance its properties, and differentiate the final product from its competitors.
Companies are also adopting collaborative business strategy to provide highly regarded products to consumers, and to expand their regional presences.
Growth Drivers and Challenges
The rising investment in various construction and infrastructure projects across the globe is driving the market. Global construction industry is growing at a faster pace with a major contribution from emerging countries. The revenue is expected to reach approximately $14.98 trillion by 2025.
Increasing Penetration of Flat Glass in Passenger Cars, Buses, and Trains
Advancements in the chemical industry have also helped in driving demand within the global flat glass market.
Government regulations on carbon emission
Lack of logistics and volatile raw material prices affecting supply chain management
Energy-efficient manufacturing process of flat glass is restraining the growth