Global Flat Glass Market is estimated to be worth US $139.80 billion by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2017-2026.
As per the report, the flat glass market is primarily driven by the growing demand and application of flat glasses within the automotive and construction industry. Typically, these glasses are a part of the windows and windshields of an automobile. Besides, their usage in concentrated, photovoltaic solar power system and thermal collector further supports market growth.
In addition, to the thriving automobile industry, the market is also likely to benefit from the government sector. This is mainly attributable to the public and government sector’s growing expenditure on infrastructural projects to boost economy. This scenario is more common in developing economies.
The report also estimates the flat glass market to grow at a considerable CAGR owing to construction applications, since it makes up a huge share of the overall market. With tempered and float glass being the key products facilitating housing expansion and driving industry growth. Both products are used in the interior as well as exterior structures in order to avoid fragility and enhance aesthetics.
The flat glass market provides extensive opportunities pertaining to noise control, neutrality, fire protection, energy saving, and self-cleaning among others. Moreover, the features of these glasses are perfect for construction applications. Additionally, market trends are projected to be influenced by raw materials like limestone, sand, and soda ash. Because, during the manufacturing process, the cost structure is mainly deterred by two elements- raw materials and energy.
In terms of geographical status, the North America flat glass market is likely to be supported by the growing preference and expansion towards laminated products. Data by industry associations suggests that around 1.1 million tons were used by the European automobile industry back in 2015. This can be accredited to the construction sector’s successful status across Germany, France, and the UK.
Furthermore, the European region is observing high demand for tempered and laminated products. Meanwhile, in the APAC, China’s market is witnessing significant increase. While Brazil, being both the importer and exporter, is much inclined toward the domestic market. Also, product demand in the East, West, and South Africa, is influenced by the construction sector, cites the report.
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The competitive landscape of the global flat glass market comprises eminent industry players like Saint Gobain S.A., SCHOTT North America, Inc., Xinyi Automobile Glass (Shenzhen) Co., Ltd., Nippon Sheet Glass Co., Ltd, CSG Architectural Glass Co., Ltd., Asahi Glass Co. Ltd, Corning Inc., Syracuse Glass Company, Astro Cam, Dillmeir Glass Company, Cardinal Glass Industries, PPG Industries, Inc., and Sangalli Group among others. In order to meet the evolving end-user needs, these firms are constantly innovating and launching new products. Apart from this, businesses also focus on acquisition of other companies and the development of their product offerings in order to grow their market reach.
The report also delivers a comprehensive analysis of the flat glass market drivers, restraints, and opportunities over the estimated timeline. A detailed analysis of the market based on technology type, product type, application spectrum, and regional landscape is also included in the report. In addition, company profiles of well-known industry players have been highlighted in the report under business overview, product benchmarking, financials, and recent developments.