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Global Flat Glass Market to Grow at a CAGR of 6.5% During 2021-2026, Aided by the Growing Construction Industry

According to a new report by EMR titled, ‘Global Flat Glass Market Report and Forecast 2021-2026’, the global market for flat glass stood at a value of around USD 111.3 billion in 2020. The industry is further projected to grow at a CAGR of 6.5% over the forecast period of 2021-2026 to attain a value of USD 162.4 billion by 2026.

The global flat glass industry is being driven by the growing demand for flat glass in the construction and automotive industries. The Asia Pacific region is the emerging market for the product and is expected to witness the fastest growth rate over the forecast period. The Asia Pacific flat glass industry is expected to aid the growth of the global flat glass industry. Within the Asia Pacific, China and India are the most significant markets for flat glass. The rapidly developing emerging economies within the Asia Pacific region are supporting the growth of the industry. The growing infrastructure activities, along with the development of smart cities across the globe, are providing a boost to the construction sector, which in turn, is aiding the growth of the flat glass industry. Also, the growing adoption of renewable energy sources, particularly solar plants, is expected to aid the industry growth in the forecast period.

The growing use of flat glass in the construction sector for various purposes is aiding the industry growth. In January 2020, Saint-Gobain (EPA: SGO), a major player in the industry, announced the acquisition of Continental Building Products (NYSE: CBPX), a highly respected plasterboard player in North America, following regulatory and stockholder approval, in order to enhance its product portfolio for buildings, transportation, and infrastructure applications, further expanding its footprint in the high growth regions in the United States. The growing demand for clear, tinted, and solar-control reflective glass in the Asia Pacific region is drawing the attention of the major players, aiming to expand their business in the region’s high growth market. In January 2019, Saint-Gobain inaugurated a fifth flat glass manufacturing plant in India, continuing its development strategy and further strengthening its position as the leader in flat glass in the country. Such developments are expected to further aid the growth of the global flat glass industry over the forecast period.

Market Breakup by Component, Types, Feedstock, Applications, and Regions:

  • Based on category, the flat glass industry is bifurcated into fabricated and non-fabricated.
  • On the basis of technology, the market is divided into float, sheet, and rolled. 
  • The different product types of flat glass available in the market are basic float, toughened, coated, laminated, insulated, and extra clear glass, among others. 
  • On the basis of raw material, the industry is categorised into sand, soda ash, recycled glass, dolomite, and limestone, among others. 
  • The industry, on the basis of its application, can be segmented into safety and security and solar control, among others.
  • By end use, the market can be segmented into construction, automotive, electronics, and solar energy, among others. 
  • Region-wise, the market is divided into North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global flat glass industry is being driven by the growing infrastructure activities and megacity developments across the globe.  
  • With the growing demand for renewable energy sources, the installation of solar plants has increased, which will contribute significantly to the industry growth. 
  • The increasing demand for flat glass in the automotive sector, coupled with its growing use in smartphones, is further aiding the industry growth. 
  • Rapid urbanisation, rising population, and growing disposable income, particularly in the emerging economies, 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 a detailed overview of the global market for flat glass, providing an insight into the categories, technologies, types, raw materials, applications, end use industries, and regional markets of flat glass for the periods (2016-2020) and (2021-2026). 
  • The report also gives the price trends of flat glass.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global flat glass market are Asahi India Glass Limited, Saint-Gobain, Nippon Sheet Glass Co., Ltd., Cardinal Glass Industries, Inc., and CSG Holding 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.

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EMR is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At EMR, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

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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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