The new report by Expert Market Research titled, ‘Global Flat Glass Market Growth, Size, Share, Price, Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global flat glass market, assessing the market based on its segments like category, technology, type, raw material, application, end use, and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 111.3 billion
- Forecast CAGR (2023-2028): 6.5%
- Forecast Market Size (2026): USD 162.4 billion
The market for flat glass has seen substantial growth due to factors such as rising product demand in automotive and construction industries. Also, increased knowledge across different industries offers an enormous market opportunity for key players in the flat glass market. With increasing urbanisation, rising infrastructure investment, and rapid growth in developing economies around the world, the flat glass market is seeing increased demand.
Glass is widely used in the construction industry for windows, facades, doors, interior partitions, and railings, among other building components, and in the automotive industry for windscreens, side and rear-side glazing, backlights, and sunroofs, among other components. The construction industry is expected to develop at a healthy pace during the forecast period, thanks to the booming construction sector.
The demand for decorative glasses with digital print technology is increasing as people place a greater emphasis on the aesthetic features of a home or workplace. Consumers are willing to pay more for items that are both high in quality and attractive to the eye. Flat glass is favoured for making decorative glasses because of its flexibility and other characteristics, which is contributing to the industry’s development.
Furthermore, the increasing demand for value-added goods, such as vehicle glazing in the automotive sector, is expected to boost the industry’s growth prospects. Rising customer concerns about the environment and the energy demand are driving a transition toward renewable energy sources, resulting in increased adoption of solar panels. Flat glass is being more widely used in solar-energy applications, such as photovoltaic and solar thermal panels, which is boosting the industry.
Furthermore, governments around the world are supporting the use of renewable energy by subsidising their construction. As a result, the global flat glass industry is being propelled forward by the rising solar energy market, as well as government incentives for the deployment of renewable energy sources.
Flat Glass Industry Definition and Major Segments
Flat glass, also known as sheet glass, is made by floating molten glass on metal sheets to create a flat or plane surface. It can also be bent and reused, unlike container glass. Among other things, it’s used to make windows, glass doors, tabletops, chairs, transparent walls, windshields, solar cells, and windscreens.
Based on the category, the industry is divided into:
Based on the technology, the industry is divided into:
Based on the type, the industry is divided into:
- Basic Float
- Extra Clear
Based on the raw material, the industry is divided into:
- Soda Ash
- Recycled Glass
Based on the application, the industry is divided into:
- Safety and Security
- Solar Control
Based on the end use, the industry is divided into:
- Solar Energy
The regional markets for flat glass include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Flat Glass Market Trends
Geographically, Asia Pacific is one of the most important markets for flat glass in the world, as well as the largest producer. The Asia Pacific region’s industry is expected to expand at a healthy rate between 2021 and 2026, with a CAGR of over 9%, assisting the global flat glass market’s growth. The global flat glass market is being propelled forward by increasing demand from key application areas, especially the automotive and construction industries.
China is expected to dominate the market in Asia Pacific, with the highest growth rate over the projected period. China’s flat glass production was around 80.15 million weight cases in 2020, representing a 10.29 percent year-on-year rise. With the highest number of glass-producing enterprises and flat glass production lines in the world, the country is now one of the world’s largest producers of glass and related goods.
Furthermore, India, another important market for flat glass, is growing at an annual rate of 8%. Increased demand for new houses, offices, buildings, and other infrastructure in the Asia Pacific region is providing numerous opportunities for the industry’s growth, further leading to increased penetration of key players in the region, which is aiding the industry’s overall growth.
Over the forecast period, the construction industry, among other end-use segments, is expected to account for the largest share of the global flat glass market. Increased infrastructure activities because of rapid urbanisation and the advancement of smart city initiatives are driving this segment’s growth, which in turn is assisting the overall market’s growth.
Key Market Players
The major players in the market are Asahi India Glass Limited, Saint-Gobain, Nippon Sheet Glass Co., Ltd., Cardinal Glass Industries, Inc., CSG Holding Co., Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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