Flat Glass Market size was estimated at 136.58 billion in 2020 and the total revenue is expected to grow by 6.4% during 2021 to 2029, with the flat glass market reaching 238.71 billion by 2029.
Luton, Bedfordshire, United Kingdom, Jan. 10, 2023 (GLOBE NEWSWIRE) — Accurate Advisors, the market research and advisory wing of Amliorate Digital Consulting Private Limited, has completed and published the final version of a detailed research report on the flat glass market. .
Market overview
Flat glass It is often used to make windows, doors, mirrors and solar panels. It is also known as tin or plate glass. Sand, soda ash and silica are melted into a liquid and then spread to the desired thickness. To get the desired result, the molten liquid is cooled. Flat glass is formed through controlled heat and chemical reactions to ensure structural strength.
The demand for flat glass is increasing due to the increasing infrastructure for the construction of eco-friendly green buildings, which help reduce carbon emissions to the environment. Also, factors such as urbanization, expanding real estate sector, product innovation, growing use of solar panels, photovoltaic modules, and e-glass are expected to boost the growth of the market during the forecast period. In addition, due to its durability and widespread use in offices, the increasing trend of replacing exterior parts with coated flat glass, its ability to diffuse natural daylight in the office will contribute to the growth of the market.
Reduction of carbon footprint coupled with initiatives from regulatory bodies is driving the demand for different types of glass such as low emission windows and energy efficient glass range. Similarly, end-use applications such as electric vehicles and government-sponsored housing schemes are expected to be key drivers for the expansion of the global flat glass industry.
Furthermore, the market is expected to grow due to the promotion of environmental protection and waste disposal and glass recycling in various end-use applications. Glass is a key material for construction without which it would be impossible to live a modern high luxury life.
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Report coverage |
Details |
|
Forecast time |
2022-2029 |
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Forecast period 2022-2029 CAGR |
6.4% |
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2029 value prediction |
238.71 billion |
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Foundation year |
2021 |
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Flat Glass Market Size in 2021 |
136.58 billion |
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Historical data b |
2019-2021 |
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Covered parts |
By product, application, technology, type, raw material, end user. |
Drivers
Solar energy is the fastest growing renewable energy source in the world as countries compete to dominate the growing market. The expansion of solar and construction industries is predicted to drive the growth of the flat glass market. In addition, solar panel flat glass has a relative impact on the production of solar photovoltaic systems and on properties such as low reflection, high transmittance and better performance. All these properties of flat glass are the main drivers of the market. Increasing penetration of solar power installations along with supportive government regulations will drive the industry price for flat glass in the coming years.
Rising per capita income coupled with increase in automotive production is likely to fuel the demand in the flat glass business. Industry demand is likely to witness significant growth due to major developments in the automotive product and technology market and demand for lightweight vehicles across the globe.
Flat glass is mainly used in window panels as this transparent and versatile material is gaining attention in the construction of buildings, doors, walls etc. The use of natural light is expected to drive the market.
Opportunities
The demand for flat glass is increasing and is expected to rise further during the forecast period. With growing personal disposable income, people are opting for attractive and attractive infrastructures that provide growth opportunities for the flat glass market. Rising demand for luxury construction is another opportunity for market growth.
Restrictions
The demand for flat glass market is constantly increasing but some factors are restricting the growth of the market. Fluctuations in raw material prices are used to hinder the growth of the flat glass market. The increasing pollution in the manufacturing process coupled with high energy consumption in the manufacturing process will hinder the growth of the market.
A major constraint for the industry is the slowdown in the automotive sector due to the reduced demand for vehicles. Additionally, due to the high cost of laminated flat glass, the industry is likely to experience a decline in growth rate during the forecast period. On the contrary, laminated flat glass is mostly used for industrial and commercial constructions, thus increasing the demand for flat glass.
A critical challenge hindering the growth of the flat glass market is government-imposed regulations on carbon emissions. When sulfur and nitrogen compounds decompose, harmful gases such as sulfur oxides and nitrous oxides are released, contributing to acidity and smog as a major cause of environmental pollution. In addition, raw materials and molten glass release particles in the atmosphere through evaporation and are harmful to humans and animals. Therefore, the above factors can hinder the growth of the market.
Value chain analysis
Due to the various benefits associated with using flat glass in various unique architectural designs, the demand for flat glass is increasing exponentially. It helps protect against harmful UV rays and is commonly used in kitchen appliances, glass facades, elevators, sliding doors, skylights, displays and many more.
Flat glass market
by product
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Basic
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Angry
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Reinforced glass
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Packed
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Protected
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Extra clear glass
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Covered
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others
Laminated glass market It exceeded USD 32 billion in 2020 and is expected to grow at a CAGR of 8.5% from 2021 to 2027 due to the growing construction and automotive industries. Automakers have long used laminated glass to match their windshields to improve sound absorption and reflection of infrared and ultraviolet light. High-end cars use taillights with a tungsten wire embedded in the defroster. The Covid-19 pandemic has had a negative impact on the laminated glass market. Stagnation of automobile production during construction and infrastructure projects and lockdowns will mainly affect the growth of the market.
By volume, the laminated product segment dominated the global market with a share of over 44.0% by 2021. It is expected to continue to drive demand for curtain walls, storefronts, top glass, blinds, and commercial and functional windows. The progress of the class. Due to the increasing demand, manufacturers have been forced to expand their production capacity.
Tempered glass is another important product category, used in cookware, cell phone screens, architectural components, shower doors and windows, and more. Due to the increase in the demand for coated products, the production has increased. It is known that such glass is three to five times thicker than ordinary glass.
Moreover, the coated part is showing growth due to the properties they provide, such as improved protection, anti-reflection, hydrophobic and self-cleaning properties. The covered glass helps to keep the heat in the building and improve the solar gain, thus supporting the growth of the market.
The rapid increase in demand for toughened glass in the domestic market has led to a 60% drop in exports over the past two years.
by application
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Architecture
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Automotive
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Solar energy collection plates
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others
Population growth, urbanization and rising disposable incomes are some of the reasons behind the increase in construction activities and infrastructure development around the world. In architectural applications, this type of glass is used in homes, windows and facades as acoustic insulation, thermal insulation, anti-reflection and transmission of selected solar wavelengths. Therefore, the growth of the market may be due to the high demand from the construction industry.
Additionally, increasing demand from the automotive industry is fueling the demand globally. In addition to the use of this type of glass in windshields, and mirrors. Increasing consumer spending on automobiles contributes to the growth of the automotive industry, thereby increasing its demand.
In technology
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Floating glass
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Sheet glass
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Rolling glass
The float segment will account for the largest market share in 2020 and is expected to grow at a CAGR of 5.54% during the forecast period.
In kind
In raw materials
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Sand
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Soda ash
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Recycled glass
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Dolomite
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Limestone
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others
In the end use
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Safety and security
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Solar control
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others
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