As per the report published by Fior Markets, The global flat glass market is expected to grow from USD 98.23 Billion in 2018 to USD 169.58 Billion by 2025 at a CAGR of 7.06% during the forecast period from 2018-2025. Asia Pacific region led the demand with USD 43.37 billion revenue in 2017 owing ton region witnessing huge construction activities in housing and commercial sector.
“Global Flat Glass Market by Technology (Float, Rolled, Sheet), Product (float glass, toughened glass, coated glass, laminated glass, and others), End User Industry, Region”, and Global Forecast 2018-2025.
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Key players in global flat glass market are Asahi Glass, Saint-Gobain, Nippon Sheet Glass, Guardian Industries, Taiwan Glass, Xinyi Auto, CSG Architectural, Corning Inc., Central Glass, Schott AG, Sisecam, NSG Group, AJJ Ltd., Cardinal, Independent Co. Ltd., OldCastle among others. In order to cope with strict environmental norms that are being imposed on the industry all the major players have undertaken the overhauling and modernization of their manufacturing plants. For instance In 2017 AGC carried out renovation work on the Cuneo plant in Italy using the most innovative design techniques. The upgraded float line significantly increased the plant capacity, reducing energy consumption by 25%, with a corresponding positive impact on its performance and product quality. Lower energy consumption also meant a remarkable reduction in atmospheric emissions, with 50% less CO (carbon monoxide), 14% less CO2 (carbon dioxide) and 30% less NOx (nitrogen oxides).
Technology segment is divided into float glass, rolled glass and sheet glass. Due to its widespread acceptance in the construction industry float glass segment held the largest market share of 62.16% by volume in 2017. Product is categorized into basic float glass, toughened glass, coated glass, laminated glass, extra clear glass and others. Toughened glass accounted for largest market share by volume at 34.41% with its extensive utilization in construction of buildings and housing structures. Coated glass segment is projected to attain highest CAGR of 9.18% due to demand for low E and heat reflective glass for architectural purposes. End user industry is divided into construction, automotive, solar energy and others. Construction segment held largest market share of the global flat glass pie with 76.38% of total revenues in 2018 as flat glass is finding increasing acceptance for construction purposes with adoption of global green building practices. Automotive segment holds considerable market share on account of flat glass being utilized for manufacturing of shatterproof windows as well as windshields. Solar energy segment is expected to witness highest growth due to increasing utilization of low E glass for production of photovoltaic cells.
Global emphasis on energy efficiency is driving the demand for flat glass for architectural, construction, automotive and solar energy purposes. On the other hand energy intensive manufacturing process and implementation of stringent emission norms are expected to pose a major challenge to the global flat glass industry.
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