December 02, 2019
According to the research report titled ‘Global Flat Glass Market (Volume, Value) - Analysis By Type, By End-Use Industry, By Region, By Country: Trends, Opportunities and Forecasts (2017-2022)’ available with Market Study Report LLC, the global flat glass market is estimated to expand with a CAGR of 6.64% from 2017 to 2022.
Growing inclination for using double and triple glazed glasses for windows in the residential, commercial and industrial sector is the major factor driving the growth of flat glass market for the forecast period. Furthermore, favorable federal reforms for reducing the dependence on coal and fossil fuel are paving the way for sustainable solar energy, hence promoting the adoption of solar panels, which in turn is augmenting the demand for flat glass across the globe.
Based on glass type, flat glass market is categorized into solar control glass, safety & security glass, and others. According to the report, safety & security segment will dominate the market in the upcoming years, due to surging need of laminated glass and tempered glass in automotive, construction, banking, and defense sectors. However, flat glass market from solar control glass segment is expected to grow substantially, owing to shifting preference of using the glass type in construction and automotive sector to enhance heat insulation and reduce energy costs.
Considering the geographical landscape, the global flat glass market is divided into regions namely, Europe, North America, and Asia-Pacific, with primary focus on countries such as Canada, US, UK, France, Germany, Japan, China, and India.
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While the growth across western markets is decreasing due to saturation, the industry has seen substantial expansion in Asia-Pacific region. The report cites that the flat glass market will have to rely on emerging economies of Asia-Pacific for further growth, due to growing industrialization combined with favorable federal reforms. These factors have not only led to rapid urbanization but also rising disposable income of consumers, further augmenting the expansion of flat glass market across the region.
The key players in flat glass market are Saint Cobain, Asahi Glass Company, Nippon Sheet Glass, Sisecam, Guardian Glass Industries, Xinyi Glass Holdings, and Taiwan Glass.
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