Pune India, June 17, 2022 (GLOBE NEWSWIRE) – The market has been studied for the below mentioned segmentation and regional analysis for North America, Europe, Asia, South America, Middle East and Africa. These are the main areas where flat glass market It is currently operating and is expected to expand in the near future. Manufacturers and suppliers involved in flat glass market Exists in various countries in the above regions.
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The report gives a detailed understanding of the market segments that have been formed by combining various possibilities such as product type, technology, end use industry, and others. Apart from this, the main drivers, constraints, potential growth opportunities and market challenges are also discussed in the paragraphs below.
Important players working in the world flat glass market are Asahi Glass, Saint-Gobain, Nippon Sheet Glass, Guardian Industries and Taiwan Glass Ind. Corp. and Sisecam Group, Fuyao Glass Industry Group, Vitro, SAB De CV, CSG Holding Co., Ltd. and Central Glass and others. To achieve a significant market share in the worldwide flat glass market and consolidate its position, manufacturers are pursuing expansion tactics such as current developments, mergers and acquisitions, product innovations, collaborations, partnerships and joint ventures. Among these, Asahi Glass is one of the most important manufacturers and distributors located in Global flat glass market.
Flat glass is made by spreading molten glass into sheets on a metal surface to form flat glass like sheets of paper. It mainly refers to all kinds of glass manufactured into sheets, such as cast glass, float glass, and flat blown glass. This type of glass is produced through controlled chemical and thermal reactions to ensure the durability of the structural composition.
The continuing trend of environmentally friendly practices across the workplace and in local environments has led to the adoption of flat glass in the construction of large commercial buildings. The construction industry uses glass as insulating materials, exterior glazing materials, structural components, and cladding materials. Additionally, glass is rapidly being used in creating windows that have a subtler look over traditional windows and facades. Hence, the growth of the global construction and infrastructure industry is fueling the growth of the global flat glass market.
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Flat Glass Market Report Scope
|The study period||2021-2029|
|market share unit||billion US dollars|
|covered slices||Product type, technology, end-use industry and region|
|Covered areas||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|The main players||Asahi Glass, Saint-Gobain, Nippon Sheet Glass, Guardian Industries, Taiwan Glass Ind. Corp. and Sisecam Group, Fuyao Glass Industry Group, Vitro, SAB De CV, CSG Holding Co., Ltd. And Central Glass among others|
The laminated glass segment is expected to be the fastest growing segment in 2021.
The product type segment includes basic float glass, toughened glass, coated glass, laminated glass, ultra clear glass, and others. The laminated glass segment is expected to witness the highest growth rate during the forecast period. Benefits associated with laminated glass, such as enhanced UV filtration, improved sound reduction and Sound Transmission Class (STC) ratings, hurricane impact glazing, and reduced primarily inherent optical distortion have fueled the growth of this segment.
The rolled segment is expected to be the fastest growing segment in 2021.
The technology segment includes float, coil and plate. The rolled segment is expected to witness the highest growth rate during the forecast period. The growth of this segment is primarily driven by the increasing demand for flat rolled glass in decorative and privacy applications. In addition, this type of architectural glass is quickly used in automobile automobiles and in the construction industry.
The solar energy sector is expected to be the fastest growing sector in 2021.
The end-use industry segment includes construction, infrastructure, automobiles, transportation, solar energy, and others. The solar energy sector is expected to witness the highest growth rate during the forecast period. Flat glass has become one of the key components in solar panels to protect photovoltaic cells from external forces, such as hail, weather and airborne debris. Thus, the increasing number of solar power installations worldwide is expected to be an opportunity for the growth of the flat glass market.
The regional analysis provides a detailed visualization of key regions and countries. Some of the major countries analyzed for flat glass include the United States, Canada, Mexico, Germany, France, the United Kingdom, Italy, Spain, Russia, China, Japan, India, Brazil, Peru, the United Arab Emirates, South Africa, and Saudi Arabia.
The Asia Pacific region saw a large share. Increased infrastructure development across developing economies such as India and China; Mass production of automobiles The increase in the installation of solar panels has mainly led to the growth of the flat glass market in the Asia Pacific region. However, Europe is expected to witness a significant growth rate during the forecast period. The market growth in this region is primarily driven by the increasing applications of flat glass in commercial and residential construction.
Germany Flat Glass Market was valued at US$ 8.80 billion in 2021 and is expected to reach US$ 13.79 billion by 2029, at a compound annual growth rate of 6.1% from 2022 to 2029.
Germany is one of the leading countries in the mechanical engineering, manufacturing, automobile and electrical industries. In addition, according to Germany Trade & Invest, the economic development agency of the Federal Republic of Germany, this country is the leading car market in Europe, accounting for about 25% of all passenger cars manufactured in the region. Thus, the increasing demand for flat glass from the country’s automotive sector is fueling the growth of the flat glass market.
China flat glass market was valued at US$28.60 billion in 2021 and is expected to reach US$44.48 billion by 2029, growing at a compound annual growth rate of 6.0% from 2022 to 2029. China is the largest manufacturer of light vehicles in the world. In addition, this country is the main producer, consumer and exporter of cars. In addition, the state invests heavily in construction and infrastructure development. For example, the period of China’s Fourteenth Five-Year Plan (2021-2025) is a good blueprint designed for the development of new infrastructure in the country. The above factors have led to an increase in the demand for flat glass in the automotive and construction sector in the country.
The flat glass market in India was valued at US$7.37 billion in 2021 and is expected to reach US$12.79 billion by 2029, at a CAGR of 7.5% from 2022 to 2029. India is one of the strongest growing economies in Asia. In addition, the emerging popularity of flat glass in this country is expected to create profitable growth opportunities for the flat glass market. On the other hand, the Indian construction industry in the past few years has become an attractive destination for foreign investment. Hence, the growth of the construction sector in the country is an opportunity for market growth.
The impact of Covid-19
Covid-19 has had a huge impact on almost all industries like construction, manufacturing, automobiles, etc. The demand for flat glass declined during the period due to regulations regarding social distancing and supply chain disruptions. In most regions, flat glass manufacturing facilities were closed in the second and third quarters of the fiscal year 2020. Major end users were also temporarily closed during this period, and thus the demand for flat glass decreased significantly.
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