USD 287.68 billion
Flat Glass Market Size, Share, Growth Analysis, By Type(Tempered glass, laminated glass, insulating glass, coated glass), By Application(Construction, automotive, solar energy, and others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15G2059 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|Tables:
66
|Figures:
75
Flat Glass Market Insights
Global Flat Glass Market size was valued at USD 301.49 Billion in 2023 and is poised to grow from USD 315.96 Billion in 2024 to USD 438.70 Billion by 2031, growing at a CAGR of 4.80% during the forecast period (2024-2031).
The global flat glass market is a thriving industry that produces high-quality, versatile glass products for a wide range of applications. Several key factors, including the growth of the construction industry, the increasing demand for energy-efficient building materials, and the rising popularity of solar energy drive the market. The construction industry is expected to be the largest growth driver in this market, as flat glass is used extensively in producing windows, doors, and other building components. Furthermore, the increasing demand for energy-efficient buildings is driving the adoption of flat glass products that provide superior insulation and reduce the need for heating and cooling. While the flat glass market has many drivers, there are also some restraints that need to be considered. One of the biggest challenges facing the industry is the volatility of raw material prices. Additionally, there are concerns about the environmental impact of glass production and disposal, which could hinder the growth of the market.
Despite these challenges, there are many key trends and opportunities in the flat glass market that make it an attractive industry for investors and businesses. One of the most exciting trends is the development of smart glass, which can change its transparency or color based on external stimuli such as light, heat, or electricity. This technology is expected to revolutionize the automotive and construction industries by providing enhanced privacy, security, and energy efficiency. Another key opportunity in the flat glass market is the increasing demand for glass in the solar energy industry. Flat glass is a critical component of solar panels, and as the world shifts towards renewable energy sources, the demand for solar panels is expected to grow significantly. Furthermore, the adoption of electric vehicles is driving the demand for lightweight and energy-efficient glass products, which presents another growth opportunity for the flat glass market.
US Flat Glass Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Tempered Glass
Fastest Growth
Tempered Glass
Growth Rate
4.80% CAGR
Global Flat Glass Market ($ Bn)
Country Share for Asia-Pacific Region (%)
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Flat Glass Market Segmental Analysis
Global Flat Glass Market is segmented on the basis of type, application, and region. By type, the market is segmented into tempered glass, laminated glass, insulating glass, coated glass, and others. By application, the market is segmented into construction, automotive, solar energy, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Flat Glass Market Analysis By Type
The largest segment in the global flat glass market is tempered glass, accounting for the majority of the market share. Safety glass known as tempered glass is created by heating ordinary glass to a high temperature and then quickly cooling it. This procedure strengthens the glass and increases its resistance to breakage, making it a popular choice for many applications. The increasing demand for tempered glass in the construction and automotive industries is driving this growth. The construction industry is the largest end-user of tempered glass, as it is used for windows, doors, and partitions in buildings. In addition, the growing demand for lightweight, fuel-efficient vehicles is driving the demand for tempered glass in the automotive industry.
The fastest-growing segment in the global flat glass market is coated glass. Coated glass is a type of glass that has a thin layer of metallic or ceramic material applied to its surface to enhance its properties. For example, low-emissivity (low-e) coatings can reduce heat loss through windows, while solar control coatings can reduce the amount of solar heat that enters a building. The growing demand for energy-efficient buildings and the increasing adoption of solar power are driving this growth. Coated glass is an important component in the construction of energy-efficient buildings, as it helps to reduce the amount of energy required for heating and cooling. In addition, the increasing use of solar power is driving the demand for coated glass in solar panels.
Flat Glass Market Analysis By Application
The construction sector emerges as the largest segment in the flat glass market. With rapid urbanization and increasing infrastructure development worldwide, the demand for flat glass in construction has soared. Architectural applications such as windows, facades, and partitions extensively utilize flat glass due to its versatility, aesthetic appeal, and energy efficiency. The construction industry has witnessed a surge in demand for sustainable and eco-friendly solutions, and flat glass perfectly aligns with these requirements. This has led to a substantial rise in the consumption of flat glass within the construction sector, making it the largest segment in the market.
The automotive segment, on the other hand, is the fastest-growing segment in the flat glass market. The automotive industry has witnessed significant advancements in terms of design, safety, and comfort, all of which heavily rely on the use of flat glass. As consumer expectations and regulatory requirements demand improved visibility, durability, and lightweight materials in vehicles, the demand for flat glass has skyrocketed. Additionally, the rising trend of electric and autonomous vehicles has further propelled the growth of the flat glass market in the automotive sector. With the increasing adoption of electric vehicles globally, the demand for flat glass for windows, windshields, and sunroofs has surged. The fast-paced growth of the automotive segment can be attributed to these factors, making it an attractive investment opportunity.
Global Flat Glass Market By Type
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Flat Glass Market Regional Insights
Asia Pacific dominated the global flat glass market. This can be attributed to the rapid industrialization and urbanization in countries like China and India, which are driving the demand for flat glass products in the construction and automotive sectors. The region's increasing population and rising disposable incomes are also contributing to the growth of the flat glass market in the region.
The fastest-growing region in the flat glass market is projected to be the Middle East and Africa. This can be attributed to the increasing demand for energy-efficient and sustainable building solutions, as well as the growing adoption of flat glass products in the automotive industry. In addition, the region's high levels of infrastructural development and government initiatives to promote renewable energy are expected to drive demand for flat glass products in the region.
Global Flat Glass Market By Region
- Largest
- Fastest
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Flat Glass Market Dynamics
Flat Glass Market Drivers
Growing demand for energy-efficient buildings
- There is a rising demand for energy-efficient buildings across the world, driven by increasing awareness about environmental concerns and the need to reduce energy consumption. Flat glass is a key material used in the construction of energy-efficient buildings, as it helps to reduce heat loss and improve insulation. For example, low-emissivity (low-e) glass is a type of flat glass that has a special coating that helps to reduce the amount of heat that passes through it. This type of glass is increasingly being used in residential and commercial buildings to improve energy efficiency.
Increasing demand for automotive glass
- The demand for automotive glass is also driving the global flat glass market, as flat glass is used extensively in the production of windshields, windows, and mirrors for automobiles. The growing demand for automobiles, particularly in emerging economies, is driving the demand for automotive glass. Additionally, the trend toward larger windshields and panoramic roofs is also boosting demand for flat glass in the automotive industry.
Flat Glass Market Restraints
High cost of raw materials
- The production of flat glass requires several raw materials, including silica sand, soda ash, and limestone. The cost of these raw materials can be volatile, and fluctuations in prices can impact the profitability of flat glass manufacturers. Additionally, the high cost of energy used in the manufacturing process can also impact profitability.
Competition from alternative materials
- Flat glass faces increasing competition from alternative materials, such as polycarbonate and acrylic. These materials offer several advantages over flat glass, including higher impact resistance and lighter weight. Additionally, these materials can be easily molded into complex shapes, making them ideal for certain applications. However, flat glass remains the preferred choice for many applications, such as in the construction industry, where its durability, transparency, and ease of maintenance are important factors.
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Flat Glass Market Competitive Landscape
The Global Flat Glass Market is a highly competitive and rapidly evolving industry, driven by a growing demand for glass in various industries such as construction, automotive, and electronics. The competition in the global flat glass market is intense, with companies competing on the basis of product quality, innovation, and price. In recent years, there has been a trend toward consolidation in the industry, with several major players acquiring smaller companies to expand their product offerings and geographical reach. Additionally, there has been a focus on developing sustainable and energy-efficient glass products to meet the growing demand for environmentally friendly solutions.
Top Player’s Company Profiles in Flat Glass Market
- NSG Group (Japan)
- Guardian Industries (US)
- Xinyi Glass Holdings Limited (China)
- Nippon Sheet Glass Co., Ltd. (Japan)
- Central Glass Co., Ltd. (Japan)
- Fuyao Glass Industry Group Co., Ltd. (China)
- Vitro, S.A.B. de C.V. (Mexico)
- Corning Incorporated (US)
- Sisecam Group (Turkey)
- Schott AG (Germany)
- Euroglas GmbH (Germany)
- Asahi India Glass Ltd. (India)
- Pilkington Group Limited (UK)
- China Glass Holdings Limited (China)
- Taiwan Glass Ind. Corp. (Taiwan)
- Phoenicia Flat Glass Industries Ltd. (Israel)
- Gujarat Guardian Ltd. (India)
- Cardinal Glass Industries (US)
Flat Glass Market Recent Developments
- In February 2023, AGC and Saint-Gobain, prominent global flat glass manufacturers with a strong commitment to sustainability, have joined forces to develop an innovative pilot flat glass production line. This collaborative effort aims to achieve a substantial reduction in direct CO2 emissions, marking a significant stride towards environmental responsibility in the flat glass manufacturing industry.
- In September 2022, AGC Glass Europe S.A., a subsidiary of AGC, a leading global manufacturer of glass, chemicals, and high-tech materials, announced its plan to produce a range of float glass with a significantly reduced carbon footprint of less than 7 kg of CO2 per m2 for clear glass (4 mm thickness) by the end of 2022. This move towards sustainable production is expected to enhance the company's competitive edge in the global flat glass market.
- In June 2022, Saint Gobain introduced its latest product, MIRASTAR REFLECT, a highly reflective glass with a high level of opacity and reflection, boasting 0.1% Light Transmission and 55% Light Reflection. This new glass product is highly durable even in high-humidity environments, making it an ideal choice for mirrored wall-fixed applications. This innovation is set to boost Saint Gobain's position in the market, as it caters to the growing demand for sustainable and energy-efficient solutions in the construction industry.
Flat Glass Key Market Trends
- Increasing use of smart glass: Smart glass is a type of flat glass that can change its properties based on external factors, such as light or temperature. For example, electrochromic glass can change its transparency based on the amount of sunlight it receives, while thermochromic glass can change color based on temperature. Smart glass is increasingly being used in the construction and automotive industries, as it can help to improve energy efficiency and reduce the need for blinds or curtains.
- Growing adoption of green building standards: The adoption of green building standards, such as LEED and BREEAM, is driving the demand for energy-efficient building materials, including flat glass. These standards require buildings to meet certain energy efficiency criteria, such as reduced energy consumption and reduced carbon emissions. As a result, the demand for energy-efficient flat glass products is expected to grow in the coming years, as building owners and developers seek to meet these standards.
Flat Glass Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Flat Glass Market analysis, the market is expected to grow at a significant rate in the coming years, driven by factors such as increasing demand for energy-efficient buildings, rising automotive production, and a growing construction industry. The market is also being propelled by advancements in glass technology, such as the development of thinner and stronger glass, and the increasing adoption of smart glass in various applications. However, problems including high manufacturing costs and erratic raw material prices could make it difficult for the market to expand. In general, the market is anticipated to experience significant expansion over the next few years as a result of the rising demand for flat glass across a variety of industries, including electronics, automotive, and construction.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 301.49 Billion |
| Market size value in 2031 | USD 438.70 Billion |
| Growth Rate | 4.80% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Flat Glass Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Flat Glass Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Flat Glass Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Flat Glass Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Flat Glass Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Flat Glass Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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