Flat Glass Market share to hit USD 134 bn by 2024;Asahi, Saint Gobain, CSG Architectural, NSG are major key players

Flat glass market share top players are Astrocam, Corning, Asahi, Cardinal Glass Industries, Sage, Interpane, CSG Architectural, Scheuten, PPG Industries, Saint Gobain, Oldcastle Building Envelope, NSG, Dillmeier Glass Company, Xiny Auto, Sisecam, and Schott.

According to Global Market Insights, Inc. “Flat glass market share worth USD 70 billion in 2015, will surpass a revenue collection of USD 134 billion by 2023 with an annual growth rate of 7.3% over the period of 2016 to 2023.” Moreover, strict norms emphasizing on the eco-friendly material usage in the automotive & construction industries, for instance, specialty products in the green buildings, etc., will further augment the flat glass industry trends notably.

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Global Flat glass market size is slated to witness a tremendous growth over the coming six years, owing to the increasing product demand across the automotive and construction sectors. Increasing infrastructural spending along with the expanding automotive industry, particularly in the emerging economies will generate heavy growth prospects for the flat glass market over the coming period.

Flat glass market business space is prominently shared among two primary end-use sectors - automotive & construction. Flat glass industry size in the construction sector is likely to surpass a revenue of USD 90 billion by 2023. Increasing construction spending and rapid industrialization, especially in emerging countries such as India, China, Japan, etc. will augment the industry growth. China government is also investing heavily in infrastructure developments.

Tempered glass is the dominant product segment of the flat glass market and is estimated to surpass USD 40 billion by 2023. Growing concerns regarding passenger safety are majorly driving the use of tempered flat glass in the automotive sector. Other flat glass products include laminated, basic float, and insulating flat glasses. Insulated flat glass market share is anticipated to witness a CAGR of 7% over the period of 2016-2023. The product is extensively used for airline windows, owing to the capability of the glass to control the heat transfer.

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Geographically, North America, having attained a revenue of USD 6 billion in 2015, is estimated to witness substantial growth over the coming years. US is likely to lead the regional demand. Europe market share is forecast to exceed USD 23 billion by 2023, owing to the heavy automobile sales across this region. Latin America flat glass market is projected to grow at a CAGR of 7% over the period of 2016-2023. Asia Pacific flat glass market will exhibit lucrative growth over the coming six years, with India and China are contributing majorly toward the product demand.

Despite having a highly profitable roadmap ahead, flat glass industry share might suffer slightly due to the fluctuating prices of the raw materials used in the manufacturing process. For instance, soaring prices of soda ash, which is the key raw material used during flat glass manufacturing may impact the market revenue. However, regions such as China, North America, and Europe are emphasizing on producing soda ash in bulk to address the growing demand from the glass industry.

Source Report@ https://www.gminsights.com/industry-analysis/flat-glass-market

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