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Asia Pacific Flat Glass Market to Grow at a CAGR of 8% in the Forecast Period of 2021-2026, Driven by the Growing Demand in the Construction Sector

According to a new report by EMR titled, ‘Asia Pacific Flat Glass Market Report and Forecast 2021-2026’, the Asia Pacific flat glass industry is anticipated to witness a CAGR of 8% between 2021 and 2026 to attain USD 82 billion by 2026.

The Asia Pacific flat glass industry is being driven by the growing demand for flat glass in the construction and automotive industries. China leads the Asia Pacific flat glass industry, accounting for a significant share in the global market. Currently, China is the one of the leading producers of glass and glass products in the world. India is another significant market for flat glass after China, where the product is growing at a rate of 8% per annum. The growth of the construction industry is being supported by the increasing population combined with urbanisation trends and megacity developments in the region. Further, the growing adoption of renewable energy sources, particularly solar energy, is expected to aid the growth of flat glass industry in the Asia Pacific over the forecast period.

The major companies are shifting their focus towards the high growth regions of the Asia Pacific owing to the rising consumer demand for clear, tinted, and solar-control reflective glass in the region. In January 2019, Saint-Gobain (EPA: SGO), a major player in the industry, inaugurated a fifth flat glass manufacturing plant in India, aiming to continue its development strategy and further strengthen its position as the leader in flat glass in the country. This newly built facility will complement the company’s existing facilities, which include two floats, two coaters, advanced glass processing units for the construction industry, fire safety and the automotive industry (Sekurit), as well as a mirror line. Such developments are expected to further aid the growth of the Asia Pacific flat glass industry over the forecast period.

Market Breakup by Component, Type, Raw Material, Application, and Region:

  • On the basis of component, the industry is divided into float, sheet, and rolled glass, among others. 
  • The different types of flat glass available in the market are basic float glass, laminated glass, tempered glass, mirror glass, and coated glass, among others. 
  • On the basis of raw material, the industry is categorised into sand, soda ash, limestone, and cullet, among others. 
  • The industry based on its application can be segmented into architectural, electronics, automotive, aerospace and defence, and solar energy, among others. 
  • Region-wise, the Asia Pacific flat glass industry is divided into China, India, Japan, ASEAN, and Australia, among other countries.

Key Findings of the Report:

  • The Asia Pacific flat glass industry is being driven by the thriving construction sector, aided by the rapidly developing emerging economies within the region.
  • The increasing demand for flat glass in the automotive sector coupled with its growing use in smart phones is further aiding the industry growth. 
  • With the growing demand for renewable energy sources, the installation of solar plants has increased, which will contribute significantly to the industry growth. 
  • Rapid urbanisation, rising population and growing disposable income in the Asia Pacific is providing further impetus to the industry.
  • With the rapid advancement in technology and increased focus of manufacturers to launch new products’ range, the industry is expected to witness a further growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the Asia Pacific flat glass industry for the periods (2016-2020) and (2021-2026). 
  • The report also offers historical (2016-2021) and forecast (2021-2026) market information for the components, types, raw materials, applications, and major regions of flat glass. 
  • It assesses the regional price trends for the (2016-2021) and (2021-2026) periods.
  • The market report also analyses the trade data by covering the major importing and exporting countries.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the Asia Pacific flat glass market are Saint-Gobain S.A., AGC Inc., Nippon Sheet Glass Co., Ltd, Central Glass Co. Ltd., China Glass Holdings Limited, and Fuyao Glass Industry Group Co., Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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