Press release
Flat Glass Market will reach USD 182.8 billion by 2028, expanding at a 5.1% CAGR during 2021-2028 | Size, share, Growth & Forecast
Flat Glass Market
The Flat Glass Market was calculated around USD 122.8 billion in 2020 and is expected to reach USD 182.8 billion by 2028, growing at a CAGR of 5.1% over the forecast period (2021-2028).
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/flat-glass-market-share-analysis-industry-research/
The factors driving the growth of Flat Glass Market includes rising application of flat glass in end-use industries such as Automotive, Construction and Consumer Goods, growing concerns related to energy efficiency and increase in the consumption of electricity around the world. According to the report published by Statista, the Global Electricity consumption has increased from 21,872 terawatt-hours in 2016 to 23,900 terawatt-hours in 2019, which will boost the demand for flat glass products in the approaching years. Moreover, rise in the launch of innovative products, Government regulations regarding green & sustainable buildings, rapid growth in the automobile production, growing adoption of advanced technologies by manufacturers and availability of wide range of flat glass products such as float glass and laminated glass at distribution channels, are some of the additional factors supplementing the Global Flat Glass Market. In addition, increasing investments by major corporations on research and development, rise in the number of renovation and remodeling activities and rapid urbanization, are further propelling the Flat Glass Market Share.
However, the growth of Flat Glass Market is hindered attributed to disruptions in the global supply chain.
The prominent players operating in the Flat Glass Market includes AS AMENDED GUARDIAN INDUSTRIES, Euroglas GmbH, Nippon Sheet Glass Co., Ltd, Central Glass Co., Ltd., AGC Inc., Cevital, SAINT-GOBAIN, China Glass Holdings Limited, Fuyaogroup.com, and Corning Incorporated, among others.
Based on Product, the Tempered segment is predicted to capture the largest market share during the forecast period
As per the Flat Glass Market Forecast, tampered glass is five times more heat resistant as compared to standard glass and can withstand temperature up to 250*, are some of the factors responsible for the segment's growth.
Based on End-Use Industry, the Building and Construction segment is projected to lead the market over the forecast period
Rise in the number of construction projects across the globe and growing adoption of advanced technologies, are propelling the segment's growth.
Based on Region, the Asia-Pacific region is anticipated to hold the highest market share during the forecast period
Rise in the Foreign Direct Investments (FDI) inflows in the construction sector, increasing electricity consumption, rapid urbanization, growing disposable incomes, improvements in the living standards and high population growth rates, are some of the important factors augmenting the Flat Glass Market size in North America.
Key Development
In 2020, Corning Incorporated partnered with LG Electronics Vehicle Component Solutions to industrialize Corning ColdForm Technology for curved automotive interior display systems.
Market Segmentation
Segmentation by Product
Laminated
Tempered
Basic Float
Insulating
Segmentation by End-Use Industry
Building and Construction
Automotive
Consumer Goods
Solar
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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