Market Highlights
Market Research Future (MRFR) assessed the global Flat Glass Market 2022 through the analysis period (2022 to 2030). The global flat glass market is likely to thrive at about 6% CAGR during the forecasted period. to earn a substantial revenue. Modern technologies that are deployed in the glass industry aid in saving energy, and using available resources with high efficacy. The cost of production for glass is also low due these causes, which responds more flexibly to market requirements, supporting innovations. The introduction of new products, such as; ultra-thin glass for mobile phones and flat screens, and their growing popularity can promote the expansion of the flat glass market in the near future. The growing application of flat glass in cash-rich construction and automobile industries that are successfully replacing conventional stone, bricks, and wood; and increase in infrastructural spending for green airports and residential constructions are likely to contribute significantly to the expansion of the market in the near future.
Market Segmentation
The global flat glass market has been segmented on the basis of product type, end-use industry, and region.
The product type-based segments of the flat glass market are tempered glass, clear float glass, insulated glass, annealed glass, coated glass, and laminated glass among others. Advancements in nanotechnology can offer better manufacturing solutions for flat glass, which, in turn, can benefit the market. The laminated glass segment can earn high profit for the global market due to rise in construction and transportation applications of the product. The annealed glass segment is expected to surge at high pace. The growing utility of insulated glass for automobile applications can favor the flat glass market expansion, as the insulated glass segment is expected to experience high traction. The tempered glass segment can thrive in near future due to rising ingression rate of cellphones, tablets, and portable desktops.
The end-use industry-based segments of the global flat glass market are automotive, building & construction, consumer goods, and solar among others. The automotive industry is one of the high end-consumer for flat glass. Flat glasses offer aesthetics, superior protection from UV, high gloss, stain resistance, and acoustic comfort. The inclination towards luxurious cars that have flat glass aesthetics owing to their properties can aid the automotive industry segment earn support from the market. The booming solar industry is another important end-user of flat glass as they are used in the production of solar panels. The introduction of initiatives for environmental protection and a conscious shift towards renewable energy for the production of electricity can benefit the flat glass market. The surge in demand for solar energy resulting in demand for solar panels can contribute the rise of solar segment.
Regional Analysis
The enforcement of strict rules regarding the use of eco-friendly building materials and the emerging trends in the flat glass industry can favor the market in APAC. The application of nanotechnology in flat glass production for solar panels, automotive glasses, and lightweight glazing glass for building; to satiate their upscaling demand can improve momentum of the market. Technological developments in terms of energy harnessing, coupled with superior properties including recyclability and sustainability, is expected to power the market growth. In addition, the easy availability of feedstock at decent price and surge in R&D investment for the development of advanced, customized, and specialized flat glass products can yield decent earning for Asia Pacific market.
The increase in demand for flat glass in construction activities taking place in Europe can support the expansion of the market. Europe is known to have a firm automotive base and the upscaling sales of luxury cars that have aesthetic made of flat glass can favor the regional market. In North America, the increase in the growing utility of laminated flat glass, along with toughened flat glasses, can contribute to the upsurge of North American flat glass market. Moreover, the growing utility of the product in the transportation sector can also favor the regional market. As per the MRFR study, the US is expected to lead the regional flat glass market.
Key Players
MRFR profiled some major companies in the worldwide flat glass manufacturers. They are; Saint-Gobain S.A. (France), Asahi Glass (Japan), Nippon Sheet Glass (Japan), Taiwan Glass (Taiwan), Guardian Industries (U.S.), Schott AG (Germany), Xinyi Glass (China), PPG Industries, Inc. (U.S.), Nittobo (Japan), Changzhou Almaden (China), Luoyang Glass (China), Emerge Glass (India), AEON Industries (China), AviationGlass & Technology (Netherlands), and Suzhou Huadong Coating Glass (China).
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