Flat Glass Market Size, Share & Trends Analysis Report 2022-2030
Flat Glass Industry Overview
The global flat glass market size is expected to reach USD 400.38 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.3% during the forecast period. The market is projected to be driven by increasing construction spending and the need to improve energy efficiency in buildings. The rising preference for architecture, which increases natural daylight in the house is propelling the consumption of glass in roofs and facades, which is expected to play a key role in boosting the product demand over the coming years. Moreover, a growing emphasis on economic recovery by encouraging investments in infrastructural developments is anticipated to drive market growth over the forecast period.
For instance, to substantiate the economic importance of infrastructure, the Department of the Treasury in the U.S. carried out a study of 40 key proposed infrastructure projects. As per this study, the completion or availability of these 40 projects can provide economic benefits of up to USD 500 billion to 1 trillion to the country. Technological upgrades and product innovation in construction glass applications have positively benefited the market growth in the recent past. However, the market growth was obstructed in 2020 owing to the COVID-19 pandemic resulting in negative sales revenue of key companies.
Flat Glass Market Segmentation
Grand View Research has segmented the global flat glass market on the basis of product, application, and region:
Based on the Product Insights, the market is segmented into Basic, Tempered, Laminated, Insulated, and Others.
- The insulated product segment dominated the global market and held the largest volume share of more than 44.0% in 2021. The demand from applications, such as curtain walls, storefronts, overhead glazing, non-vision locations, and commercial and operable windows, is likely to remain a key factor driving the growth of this segment. The growing demand has compelled manufacturers to expand their production capacities.
- Tempered glassis another key product type and is suitable for a wide range of applications in cookware, mobile phone screens, architectural parts, shower doors, and windows, among others. The growing demand for tempered products has augmented its production.
Based on the Application Insights, the market is segmented into Architectural, Automotive, and Others.
- The architectural application segment held the largest revenue share of more than 72.0% in 2021. The segment will expand further at a steady growth rate from 2022 to 2030 on account of the increasing construction activities and infrastructural developments as a result of the rapid urbanization and growing population across the globe.
- Increasing demand for Electric Vehicles(EVs), along with rising cases of road accidents, is anticipated to propel product consumption in automotive applications. The other applications segment is anticipated to register the fastest CAGR over the forecast period on account of the rising demand for solar energy. Glass is a key component in solar panels as it protects the PV cells from external forces, such as weather, hail, and airborne debris.
Flat Glass Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The market is highly competitive and fragmented owing to the presence of several major players. Companies are opting for various strategic initiatives to recover losses caused due to the pandemic and strengthen their market presence. For instance, in September 2020, Guardian Glass inaugurated its second float glass facility in Poland. The new facility aims at catering to the growing demand for high-performance products in the architectural and construction markets. Some of the prominent players in the global flat glass market include:
- AGC Inc.
- Cevital Group
- Euroglas
- Guardian Industries
- Saint-Gobain
- ÅžiÅŸecam Group
- Vitro
Order a free sample PDF of the Flat Glass Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
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Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
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Email: sales@grandviewresearch.com
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