March 30, 2020
As per the report titled ‘North America Flat Glass Market Size By Product, Application, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024’, available with Market Study Report LLC, North America flat glass market to surpass USD 12.5 billion by the year 2024.
Growing environmental concerns regarding waste discharge and management along with recyclability of glass for use in construction and automotive industries are fueling the growth of flat glass market in North America. Moreover, increasing number of green building projects and increasing product use in cabinet closure, table-tops, furniture, and solar cells will augment the market trends over the forecast timeline.
Based on the product, tempered glass market is anticipated to account for 5.5% market share by the end of the forecast period. Increasing investments towards commercial and residential construction projects coupled with growing safety concerns is stimulating the segment growth. Highly durability and robust nature of tempered glass is encouraging product adoption in building structures and various home applications.
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Speaking of the application spectrum, construction segment is presumed to see modest gains in the coming years driven by the rising expenditure in construction and renovation projects. Automotive & transportation sector will also contribute significantly to the market share owing to rising product adoption in automotive windshields, side and rear windows where these materials improve the insulation of a vehicle.
Considering the geographical landscape, Canada flat glass market is estimated to accrue USD 320 million by the year 2024. Rapid industrialization coupled with increasing automobile sales and production is fueling the growth of flat glass market in Canada. Growing focus among manufacturers to enhance vehicle safety and reduce vehicle weight through the use of lightweight components is supplementing the product demand. Furthermore, growing consumer inclination towards lightweight vehicles for an improved vehicle economy and lower carbon emissions is expanding the regional business landscape.
Guardian Group, Dillmeier Glass Company, Xinyi Auto Glass, and Oldcastle Building Envelope are the major players operating in North America flat glass market.
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