Flat Glass Market to grow by USD 34.3 million tons from 2022 to 2027, APAC to account for 67% of the market growth

NEW YORK, June 21, 2023 /PRNewswire/ -- The flat glass market size is expected to grow by 34.3 million t during 2022-2027, progressing at a CAGR of 5.38% as per the latest Technavio market research report. APAC is estimated to account for 67% of the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In APAC, China, India, and Australia are the major markets for flat glasses. The rise in residential and commercial construction activities in the region is anticipated to deliver growth opportunities for the region. Moreover, the emphasis on the development of energy-conservative buildings will help the growth of the market in APAC. In addition, consumers highly emphasised home interiors, which will increase the demand for coated flat glasses. However, the rising use of solar thermal panels for electricity generation is also expected to have a favourable impact on the flat glass market in this region. Renewable energy such as solar glass panels absorbs approximately 50% of solar energy and helps regulate global warming. Therefore, owing to such factors, the regional market is expected to grow during the forecast period. For more insights on the market share of various regions- Download a sample report in MINUTES

Flat Glass Market: Market Dynamics

Drivers: Demand from the automotive sector to drive growth

The major factor driving the flat glass market is the increasing demand for flat glass from the automotive industry. Currently, the global automotive industry is one of the fastest adopters of flat glass. In the automotive sector, flat glass is widely used for convertible sunroofs, front and rear glass, and other uses. These materials are mostly employed in external and interior automotive components to lower the weight of automobiles. As many nations across the world introduce stringent laws on car emissions to combat air pollution, flat glass is utilised to make lightweight, fuel-efficient, and environmentally friendly automobiles. Additionally, major automotive-manufacturing countries, such as China, Germany, India, France, Italy, South Korea, Japan, and the US, use flat glass in different types of vehicles, such as passenger and commercial vehicles. The growing production of vehicles will, thus, drive the demand for flat glass in automotive applications. Therefore, such factors will boost the market growth during the forecast period.

Trends: Increased Construction of Green Buildings

The increase in EOL glass material recycling is an emerging trend in the flat glass market growth. The glass manufacturing industries are more emphasised recycling broken and waste glass to use as raw material. Waste and broken glass used in processing are generally known as cullet. Currently, in glass manufacturing, 20%-25% of the cullet is used as raw material for new glass production and it melts and mixes easily with other raw materials in the furnace. This decreases CO2 emissions, and costs, and saves energy. However, it is expected that manufacturers will improve the quantity of waste glass in raw materials to cut down CO2 emissions. In Europe, for instance, glass vendors and manufacturers are encouraging the public to collect broken and waste glass and give them for recycling. It will also help in minimizing the glass waste in landfills and lower the production cost by improving the quantity of cullet in the raw material. Therefore, such factors will drive market growth during the forecast period.

To know about more drivers, trends along with challenges - Download a sample now!

What's New?

Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession

Global competitiveness and key competitor positions

Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - buy the report!

Some of the key Flat Glass Market Players:

The flat glass market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

AGC Inc., Cardinal Glass Industries Inc., Central Glass Co. Ltd., CSG Holding Co. Ltd., Dillmeier Glass Co., Emerge Glass India Pvt. Ltd., Euroglas GmbH, Fuyao Glass Industry Group Co. Ltd., Koch Industries Inc., MFG SPA, Nippon Sheet Glass Co. Ltd., Pella Corp., PT Mulia Industrindo Tbk, Scheuten Glas Nederland BV, SCHOTT AG, Sisecam, Syracuse Glass Co., Taiwan Glass Ind. Corp., Vitro SAB De CV, and Compagnie de Saint Gobain S.A.

Flat Glass Market: Market Segmentation

The flat glass market is segmented into end-user (construction, automotive, solar glass, and others), type (float glass, sheet glass, and rolled glass), and geography (APAC, Europe, North America, Middle East and Africa, and South America).

The market share growth by the construction segment will be significant during the forecast period. A significant application of flat glass is in windows and door panels and they are also used in a wide range of interior decoration and furniture. The capacity of flat glasses to manage the amount of light, heat, and radiation transmitted is driving their adoption, particularly in residential buildings situated in hot and cold climates. In interior designing, flat glasses are used to improve the ambience and the overall spread of natural light. The decrease in cost associated with adherence to lighting and temperature regulations related to building interiors makes flat glasses more cost-effective compared with the use of wood and brick in residential buildings. However, they are used in both exterior and interior applications in commercial buildings. The use of a large number of glass panes improves the overall design and appearance of the building. In addition, It also provides environmental protection as it helps in capturing more natural heat and light, which lowers the overall carbon emission associated with heating and electrical power. Therefore, owing to such factors, the segment is expected to grow during the forecast period.

Gain instant access to 17,000+ market research reports.

Technavio's SUBSCRIPTION platform

Related Reports:

The global glass manufacturing market size is estimated to grow by USD 58.31 billion between 2022 and 2027 accelerating at a CAGR of 6.04%. This report extensively covers market segmentation by application (packaging, construction, electrical and electronics, transportation, and others), product (container glass, flat glass, fibreglass, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The rise in sales of electronic display units is the key factor driving the growth of the global glass manufacturing market.

The flat glass coatings market share is expected to increase by USD 932.23 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.70%. This report extensively covers flat glass coatings market segmentation by technology (water-based, solvent-based, and nano-based) and geography (APAC, Europe, North America, MEA, and South America). The increasing demand for flat glass from the automotive industry is notably driving market growth.

Flat Glass Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.38%

Market growth 2023-2027

34.3 million t

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.61

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 67%

Key countries

US, China, India, Japan, and the UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Content

1 Executive Summary

1.1 Market Overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global flat glass market 2017 - 2021

4.2 End-user Segment Analysis 2017 - 2021

4.3 Type Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by End-user

6.1 Market segments

6.2 Comparison by End-user

6.3 Construction - Market size and forecast 2022-2027

6.4 Automotive - Market size and forecast 2022-2027

6.5 Solar glass - Market size and forecast 2022-2027

6.6 Others - Market size and forecast 2022-2027

6.7 Market opportunity by End-user

7 Market Segmentation by Type

7.1 Market segments

7.2 Comparison by Type

7.3 Float glass - Market size and forecast 2022-2027

7.4 Sheet glass - Market size and forecast 2022-2027

7.5 Rolled glass - Market size and forecast 2022-2027

7.6 Market opportunity by Type

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 APAC - Market size and forecast 2022-2027

9.4 Europe - Market size and forecast 2022-2027

9.5 North America - Market size and forecast 2022-2027

9.6 Middle East and Africa - Market size and forecast 2022-2027

9.7 South America - Market size and forecast 2022-2027

9.8 China - Market size and forecast 2022-2027

9.9 US - Market size and forecast 2022-2027

9.10 India - Market size and forecast 2022-2027

9.11 Japan - Market size and forecast 2022-2027

9.12 UK - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 AGC Inc.

12.4 Cardinal Glass Industries Inc.

12.5 Central Glass Co. Ltd.

12.6 Compagnie de Saint Gobain S.A.

12.7 CSG Holding Co. Ltd.

12.8 Dillmeier Glass Co.

12.9 Emerge Glass India Pvt. Ltd.

12.10 Euroglas GmbH

12.11 Fuyao Glass Industry Group Co. Ltd.

12.12 Koch Industries Inc.

12.13 MFG SPA

12.14 Nippon Sheet Glass Co. Ltd.

12.15 SCHOTT AG

12.16 Taiwan Glass Ind. Corp.

12.17 Vitro SAB De CV

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]: www.technavio.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/flat-glass-market-to-grow-by-usd-34-3-million-tons-from-2022-to-2027--apac-to-account-for-67-of-the-market-growth---technavio-301856452.html

SOURCE Technavio