Saudi Arabia Flat Glass Market is predicted to rise at a higher CAGR during 2020-2027 | Industry Share, Size & Forecast

The Saudi Arabia Flat Glass Market is estimated to grow at a robust CAGR over the forecast period (2020-2027).

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The factors driving growth of the market includes rising application of flat glass in the end-use industries such as Automotive, Construction and Transportation industries, growing electricity demand across Saudi Arabia, increase number of solar energy installations and improvements in the living standards. For instance, the revenue generated from the construction of buildings across Saudi Arabia is expected to reach around USD 34 billion by 2022, expanding at a CAGR of 0.30%, over the forecast period (2022-2025), which will accelerate the Saudi Arabia Flat Glass Market size in the approaching years. Moreover, technological advancements in flat glass, increasing number of smart cities, growing concerns related to recycling of plastics, emerging need for clean energy, Government regulations promoting the use of flat glass and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major companies on research and development, strategic partnerships between companies and growing population growth rates, are further contributing towards the market growth.

However, growth of the Saudi Arabia Flat Glass Market is hindered attributed to high prices of raw materials.  

The major players operating in the Saudi Arabia Flat Glass Market Guardian Industries, Emirates Glass LLC, Huntsman International LLC, Corning Incorporated, Saudi American Glass Company Limited, Obeikan Glass Company, Glaston Corporation, SCHOTT AG, Saint-Gobain S.A. and Kingspan Group, among others.

Based on Product Type, the Insulated segment is predicted to expand at a significant CAGR during the forecast period

Insulated flat glass are increasingly used in residential and commercial buildings because it reduces air conditioning and heating cost and provides superior performance, are some of the features propelling the segment's growth.

Based on Technology, the Float segment is projected to grow at a remarkable CAGR over the forecast period

Float based technology provides superior quality flat glass features, bright appearance, high optical clarity and are increasingly used in automobile windshields, doors and mirrors, are some of the factors pushing the segment's growth.

Based on Application, the Architectural segment is anticipated to capture the largest market share during the forecast period

Increase in Government's expenditure on infrastructural projects, rapid industrialization, rising population growth rates and growing per capita incomes, are some of the important factors augmenting the segment's growth.

Market Segmentation

Segmentation by Product Type

Basic
Tempered
Laminated
Insulated
Others

Segmentation by Technology

Float
Rolled
Sheet

Segmentation by Application

Architectural
Automotive & Transportation
Others

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