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Flat Glass Market Set for Exponential Growth: Forecasts and Key Factors| MarketsandMarkets™

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Flat Glass Market Set for Exponential Growth: Forecasts and Key Factors| MarketsandMarkets™

May 20
15:42 2023
Flat Glass Market Set for Exponential Growth: Forecasts and Key Factors| MarketsandMarkets™
Browse 72 Market Data Tables and 56 Figures spread through 138 Pages and in-depth TOC on “Flat Glass Market”
The global flat glass market is witnessing substantial growth, with Asia Pacific leading in terms of regional growth. The region’s booming construction and automotive industries drive the demand for flat glass. North America and Europe also show significant growth due to increasing renovation and energy-efficient building practices.

Flat glass products have various applications, due to their versatile properties. Flat glass products are reliable, have an aesthetic appearance, act as barriers to sound & heat, offer weight reduction, and can be used in safety equipment. In the past few years, the use of flat glass products has increased in various end-use industries, such as construction & infrastructure, automotive & transportation, and solar energy. The flat glass market was projected to reach USD 142.05 billion by 2022, at a CAGR of 7.30% between 2017 and 2022.

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Asia-Pacific is expected to be largest and the fastest-growing market for flat glass during the forecast period. The high demand for flat glass in this region can be attributed to the rising demand from the construction & infrastructural sectors. The high penetration of flat glass products in this region can also be attributed to the growth in sectors, such as automotive & transportation, solar energy, and home appliances. The presence of key players, such as Asahi Glass, Nippon Sheet Glass, Taiwan Glass, and Saint-Gobain is also expected to support the growth of the market in the coming years. 

In Asia-Pacific, the consumption of flat glass has increased significantly in the construction & infrastructure sector. The demand for various flat glass products, such as laminated glass, toughened glass, coated glass, and extra clear glass has increased in the recent years, due to their advanced properties and the increasing need for sustainable & environmental friendly infrastructure. 

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Automotive & transportation is the fastest-growing end-use industry segment for flat glass products. Flat glass has wide applications in the automotive & transportation end-use industry for backlights, windscreens, windows, and sunroofs of automobiles. Growing automobile production and an increased penetration of flat glass in cars and other transport vehicles are some of the major factors expected to drive the demand for flat glass products, globally. 

The laminated glass product type is projected to be the fastest-growing flat glass product type segment during the forecast period. The toughened glass segment dominated the flat glass market in terms of value in 2016, due to the superior properties of toughened glass and its extensive applications in the construction industry. 

The major opportunities for the flat glass market are investments in infrastructural development projects in emerging economies and increasing demand for green buildings, globally. Various companies operating in the market are offering products and expanding their business in emerging economies to take advantage of growing end-use industries in emerging economies.

Major flat glass manufacturers profiled in this report are Asahi Glass (Japan), Saint-Gobain (France), Nippon Sheet Glass (Japan), Guardian Industries (U.S.), Taiwan Glass (Taiwan) and others.

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