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Flat Glass Market Analysis Report By Application, By Product, By Region And Segment Forecasts From 2020 To 2027

Report ID: MN17617122  |  Published: August 2020  |  No of Pages: 132
Format: Electronic (PDF)  |  Industry: Glass

Industry Insights

The global flat glass market size was worth USD 115.8 billion in 2019. It is estimated that the market would exhibit a 7.3% CAGR revenue-wise over the forecast duration, 2020 to 2027. Construction activities have recovered in North America while emerging regions such as the Asia Pacific are witnessing significant development in new construction. Therefore, the rise in the construction sector is attributing to the growth of the market.

The use of flat glass in roofs and facades has increased considerably as the trend of building architecture to enhance natural daylight is gaining traction. This factor is one of the key drivers of the market. In addition, low e-products with triple silver insulated have been the recent innovation, which is propelling the growth of the market.

U.S. flat glass market

The construction sector in the United States has gained momentum in the recent past. As estimated by the U.S. census bureau, residential construction has registered 5.6% growth from 2014 to 2018. Moreover, the growth in the future also looks promising with the increasing trend of the nuclear family. The residential sector is one of the major consumers of flat glass.

Apart from the construction sector, the rapidly solar industry offer lucrative growth opportunity. Flat glass embedded in the solar plat help in increasing the efficiency of the system. Regions such as the Middle East & Africa and the Asia Pacific are witnessing the increasing adoption of solar systems, which in turn, bode well for the growth of the market.

From 2013 to 2017, new capacity addition in the solar system witnessed over 29.0% CAGR. Various factors like environmental concerns, depletion in renewable sources, and technological advancements have paved the way for the development of solar-powered systems.

On the other hand, flat glass in the automotive sector witnessed sluggish growth in 2019. The significant decline in the production of automobiles in countries such as India, China, Western Europe, and China has been attributed to low demand for flat glass. However, the automotive production is estimated to gain momentum over the forecast period, thus, offering lucrative growth opportunities.

Product Insights

Depending on the product, in 2019, the tempered flat glass segment held the largest share by volume in the flat glass market with 28.9%. The increasing availability of the various products such as heat reflective, tinted, extra white, and clear float are attributing to the growth of the segment. Tempered glass provides excellent mechanical strength and high resistance to temperature. Owing to the increasing construction activities, tempered glass is witnessing significant demand from the Asia Pacific and MEA.

Laminated flat glass is widely used in automotive production. Due to the high cost of laminated glass, tempered glass is mostly preferred in construction activities. Laminated glass offers better safety and is increasingly used in sunroofs. Leading automotive OEMs such as Tesla, Volvo and Ferrari use laminated glass for their sunroofs. On the other hand, insulated flat glass is widely used in commercial and residential building construction for facades or windows.

Application Insights

By application, architectural application held the largest share in the market in 2019. The segment accounted for 80.0% share by volume in 2019. With the growing population, there has been significant growth in infrastructural development across the world. Thus, growing construction activities is projected to drive the market growth.

Global flat glass market

Automotive & transportation is the second leading segment. Parts such as windshields, sunroofs, windows, and lights make use of flat glass. Tempered and laminated flat glasses are widely used in the automotive industry. The growing production of electric and light-duty vehicles is projected to supplement the growth of the market. 

Some of the other applications include electronic equipment, displays, and solar. Among these applications, the solar category is estimated to witness the highest growth from 2020 to 2027. This is attributed to the rapid growth of the industry in the regions such as the MEA and the Asia Pacific. 

Regional Growth

It is estimated that Asia Pacific would witness over 7% CAGR over the forecast duration. In the past few years, the region has witnessed significant growth in the construction sector. This trend is projected to continue over the next few years. In the Asia Pacific, India is anticipated to witness the highest growth in the construction sector. 

In 2019, North America accounted for a 17.9% share in the flat glass market. The region has seen a significant recovery in the construction sector that was severely hit in the 2008-2010 period due to economic recession. 

Europe is also witnessing considerable growth in residential construction. It was reported by the European Parliament that 40% of total residential construction took place before 1960 and 90% of total residential construction was done before 1990. Thus, the demand for reconstruction and renovation is gaining traction in the region. On the other hand, the Middle East and CSA are likely to register healthy growth over the forecast duration. MEA region is witnessing significant growth in its population along with disposable income. The government in South America is providing incentives to support the construction of residential units, which in turn, would supplement the growth of the market. 

Impact of COVID-19

The COVID-19 outbreak has adversely affected the growth of the market. The pandemic has led to the closure of various operations as lockdowns were imposed in different parts of the world. The disruption in the supply chain severely affected the production of flat glass. In addition, faced with a labor shortage, the global construction industry witnessed a significant decline in the first semester of 2020.

However, the construction industry is projected to witness significant growth in early 2021 as government and private firms are focusing on infrastructural development through partnerships. As a result, the market would register healthy growth over the next few years.

Flat Glass Market Share Insights

Due to the presence of various local and international players, the market is highly competitive. Leading players in the market are Guardian Industries¸ ÅžiÅŸecam Group, Saint-Gobain, and AGC, Inc. among others. These companies are focusing on consolidating their market presence in emerging regions such as the Asia Pacific. Apart from the high demand, Asia Pacific has also easy availability of cheap labor. Leading companies are also emphasizing mergers and acquisitions to strengthen their position in the market. For example, ÅžiÅŸecam Group purchased a 49.8% share in HNG Float Glass Limited, in June 2019, worth 85.4 million to increase its total share to 99.8%. By doing this, the company reached a step closer to strengthen its position in India.

Report Scope

Attribute

Details

The base year for estimation

2019

Actual estimates/Historical data

2016 - 2018

Forecast period

2020 - 2027

Market representation

Revenue in USD Million, Volume in Kilotons, and CAGR from 2020 to 2027

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Country Scope

U.S., Germany, U.K., China, India, Brazil

Report coverage

Revenue and volume forecast, company share, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5 analyst working days)

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Million Insights has segmented the global flat glass market report on the basis of product, application, and region:

• Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
    • Basic
    • Tempered
    • Laminated
    • Insulated
    • Others

• Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
    • Architectural
    • Automotive & transportation
    • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
    • North America
        • U.S.
    • Europe
        • Germany
        • U.K.
    • The Asia Pacific
        • China
        • India
    • Central & South America
        • Brazil
    • Middle East & Africa 

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