The flat glass market size is estimated at 136.58 billion in 2020, and the total revenue is expected to grow by 6.4% from 2021 to 2029, the flat glass market will reach nearly 238.71 billion by 2029.
Luton, Bedfordshire, United Kingdom, Jan. 10, 2023 (GLOBE NEWSWIRE) — Exactitude Consultancy, the market research and advisory arm of Ameliorate Digital Consultancy Private Limited has completed and released the final copy of a detailed flat glass market research report. .
Market overview
Flat glass it is often used to make windows, doors, mirrors and solar panels. It is also known as sheet or plate glass. Sand, soda ash and silicon dioxide are dissolved into a liquid and then distributed to the desired density. To obtain the desired result, the molten liquid is cooled. In order to ensure structural robustness, flat glass is created by controlled heat and chemical reactions.
The demand for flat glass is growing due to increasing investment in infrastructure such as the construction of environmentally friendly green buildings, which help reduce carbon emissions into the environment. Also, factors such as increasing urbanization, expanding real estate sector, product innovation, increasing use of solar panels, PV modules, and e-glass are expected to drive market growth during the forecast period. Moreover, the growing trend of replacing building exteriors with laminated flat glass due to its strength and its widespread use in offices due to its ability to diffuse natural daylight inside offices is contributing to the growth of the market.
The need to reduce the carbon footprint together with the initiatives of the regulatory authorities is driving the demand for a range of different types of glass such as low emission windows and a range of energy saving glass. Likewise, end-use sectors such as electric vehicles and government housing schemes are expected to be key drivers for the expansion of the global flat glass industry.
In addition, the market is expected to grow due to environmental conservation and waste management concerns and the recyclability of glass promoting its use in various end-use applications. Glass is a key building material without which modern luxury housing in high-rise buildings would not be possible.
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|
Report coverage |
details |
|
Estimated period |
2022-2029 |
|
Forecast period 2022-2029. CAGR |
6.4% |
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Value projection for 2029 |
HRK 238.71 billion |
|
Base year |
in 2021 |
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Flat glass market size in 2021 |
HRK 136.58 billion |
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Historical data for |
2019-2021 |
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Segments covered |
By product, by application, by technology, by type, by raw material, by end user. |
Drivers
Solar energy is the fastest growing renewable energy worldwide, and countries are racing to establish their dominance in the growing market. Expanding solar and construction industries are projected to drive the growth of the flat glass market. In addition, flat glass for solar panels has a relative impact on the utilization of solar photovoltaic systems and its properties such as low reflection, high transmittance and better performance. All these properties of flat glass are the main drivers of the market. The increasing penetration of solar energy installations along with accompanying government regulations is likely to boost the industrial value of flat glass over the coming years.
Rise in per capita disposable income coupled with increase in automobile production is likely to drive the demand in the flat glass business. Industrial demand could experience significant growth due to large automotive production and technological market development and demand for light vehicles worldwide.
Flat glass is mainly used in window panes as this transparent and versatile material is becoming increasingly popular in the construction of facades, doors, walls, etc. In addition, rapid industrialization is encouraging the installation of this type of glass in commercial buildings to save energy by maximizing the use of natural light and is expected to will drive the market.
Possibilities
The demand for flat glass is growing and is expected to grow further during the forecast period. With increasing personal disposable income, people prefer attractive and attractive infrastructures that provide growth opportunities for the flat glass market. The increasing demand for luxury construction is another opportunity for market growth.
Limitations
The demand for flat glass market is constantly increasing, but some factors are limiting the growth of the market. Fluctuations in raw material prices are used to restrain the growth of the flat glass market. Increasing pollution during the manufacturing process along with high energy consumption during the manufacturing process is hampering the growth of the market.
The main constraint on the industry will be the sluggishness of the automotive sector, due to the decline in demand for vehicles. Furthermore, due to the high cost of laminated flat glass, the industry is likely to experience a decline in growth rate during the forecast period. On the contrary, iso flat glass is mostly used for industrial and commercial building structures, thus increasing the demand for flat glass.
A critical challenge holding back the growth of the flat glass market is government-imposed regulations on carbon emissions. The release of harmful gases such as sulfur oxides and nitrogen oxides during the decomposition of sulfur and nitrogen compounds contribute to acidification and the formation of smog, becoming a major factor in environmental pollution. In addition, the evaporation of raw materials and molten glass releases particles into the atmosphere and is harmful to humans and animals. Therefore, the above factors may hinder the growth of the market.
Value chain analysis
The demand for flat glass is growing tremendously due to the various advantages associated with the use of flat glass in various unique architectural projects. It helps protect against harmful UV rays and is widely used in kitchen appliances, glass facades, elevators, sliding doors, skylights, showcases and many others.
Flat glass market
By product
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Basic, fundamental
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tempered
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Tempered glass
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Laminated
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Isolated
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Extra transparent glass
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Coated
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Other
The laminated glass market exceeded USD 32 billion in 2020 and is projected to grow at a CAGR of 8.5% from 2021 to 2027, owing to the growing construction and automotive industries. Automakers have long used laminated glass to fit their windshields to improve sound absorption and reflect infrared and ultraviolet light. Top cars use laminated backlights with a tungsten wire built into the defroster. The COVID-19 pandemic has had a negative impact on the laminated glass market. The halt in construction and infrastructure projects and car production during the quarantine mainly affected the growth of the market.
In terms of volume, the insulated products segment dominated the global market, accounting for more than 44.0% in 2021. Demand for curtains, storefronts, ceiling glazing, blind spots, and commercial and operational windows is expected to continue to drive segment growth. Manufacturers were forced to expand their production capacity in response to growing demand.
Tempered glass is another important product category, used in tableware, mobile phone screens, architectural elements, shower doors and windows, among others. Demand for hardened products is increasing, and so is production. It is known that such glass is three to five times stronger than ordinary glass at the same thickness.
Furthermore, the coated segment is showing growth due to the properties it offers, such as improved insulation, anti-reflection, hydrophobic and self-cleaning properties. Laminated glass helps retain heat inside the building and improves solar gain, thus supporting market growth.
The rapid increase in demand for tempered glass on the domestic market has resulted in a decrease in exports by as much as 60% in the last few years.
By applying
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Architectonic
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Automobile
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Solar panels
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Other
Growing population, urbanization and increasing disposable income are some of the factors responsible for the increase in construction activities and infrastructural development around the world. In architectural applications, this type of glass is significantly used indoors, on windows and on facades due to its properties such as sound insulation, thermal insulation, anti-reflection and transmission of selective solar wavelengths. Therefore, the growth of the market can be attributed to the high demand of the construction industry.
In addition, growing demand from the automotive industry is further fueling demand globally. In addition to using this type of glass in windshields and mirrors. Increased consumer spending on automobiles acts as a contributing factor to the growth of the automobile industry, thereby increasing demand.
By technology
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Floating glass
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Tin glass
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Rolled glass
The float segment accounted for the largest market share in 2020 and is projected to grow at a CAGR of 5.54% during the forecast period.
By type
According to the raw material
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Sands
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Soda Ash
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Recycled glass
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Dolomite
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Limestone
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Other
By end use
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Security and insurance
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Solar control
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Other
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