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Mexico Flat Glass Market to Grow at a CAGR of 4.2% During 2022-2027, Aided by the Thriving Automotive Sector

According to a new report by EMR titled, ‘Mexico Flat Glass Market Report and Forecast 2022-2027’, the market attained a value of about USD 1,004 million in 2020. The Mexico market for flat glass is further expected to grow at a CAGR of 4.2% between 2022 and 2027.

The Mexico flat glass industry is being driven by the thriving automotive sector, fuelled by the growing consumer demand for passenger vehicles. Further, the various advantages of flat glass, such as heat insulation, soundproof glazing, self-cleaning, and UV filtering, among others contribute to its demand for diverse applications. The market is expected to be further aided by the rising demand for flat glass in the construction sector. Moreover, the technological advancements in the automotive industry aimed at enhancing the comfort and driving experience of consumers are expected to provide impetus to the market growth in the coming years.

In July 2019, O-I Glass, Inc. (NYSE: OI) acquired Nueva Fábrica Nacional de Vidrio, whose plant, Nueva Fanal is located near Mexico City, Mexico. This plant has four furnaces to produce and supply approximately 300,000 tons of glass containers per year for Gruopo Modelo brands, serving the local and global export markets. The acquisition was aimed at generating an excellent incremental synergy and expand company’s global reach.

The growing research and development activities by the key automotive players in Mexico, supported by low labour costs and favourable government policies, are expected to contribute to the market expansion in the region. The rising disposable incomes and the growing population in the region are also aiding the growth of the market. Furthermore, increasing investments towards sustainable infrastructure development and the growing adoption of solar energy are likely to provide opportunities for the flat glass industry growth in the forecast period.

Market Breakup by Technology, Product Type, Raw Material, Category, Application, End Use Industry, and Region:

  • The market is categorised, based on technology, into float glass, sheet glass, and rolled glass.
  • On the basis of product type, the market can be segmented into basic float glass, toughened glass, coated glass, laminated glass, mirrored/patterned/extra clear glass, and insulated glass.
  • Based on raw material, the market can be distributed into sand, soda ash, limestone, dolomite, and alumina, among others.
  • On the basis of category, the market can be bifurcated into fabricated and non-fabricated.
  • The market, based on application, can be divided into solar control, and safety and security.
  • The end use industries of the product include construction, automotive, and solar energy, among others.
  • Region-wise, the Mexico market for flat glass can be divided into Central Mexico, Northern Mexico, Pacific Coast, The Bajío, Yucatan Peninsula, and Baja California.

Key Findings of the Report:

  • The Mexico market for flat glass is being driven by the thriving automotive sector and the rising consumer demand for passenger vehicles.
  • The growing expenditure by the government in promoting the adoption of solar panels in the region is expected to further support the market growth.
  • The rising innovations and the growing research and development activities in the automotive and construction sector are expected to bolster the market growth in Mexico.
  • The increasing penetration of key market players in the region is likely to provide impetus to the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the Mexico market for flat glass for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the technologies, product types, raw materials, categories, applications, end use industries, and regions 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 Mexico flat glass market are Vitro, S.A.B de C.V, Saint Gobain S.A., Guardian Glass LLC, AGC Inc., and Nippon Sheet Glass Company 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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*We at Expert Market Research always thrive 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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