Fior Markets launched a study titled “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.
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. Growing utilization of glass in construction of housing and commercial construction, rising demand for automobiles as well as solar energy is proving to be the propelling force for the global flat glass market.
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Float glass led the market with 62.16% of total volume in 2016
Technology segment is divided into float glass, rolled glass and sheet glass. Float glass segment held the largest share of 62.16% of total volume in 2017 on account of its extensive use for construction and architectural purposes.
Coated Glass segment to grow at 9.18% CAGR in 2018-2025
Product is categorized into basic float glass, toughened glass, coated glass, laminated glass, extra clear glass and others. Toughened glass held the largest market share by volume at 34. 41% in 2017 owing to its wide acceptance in building and construction industry. Coated glass segment is projected to witness highest growth rate of 9.18% due to rising worldwide demand for heat reflective and low E glass. Laminated glass is also to grow at moderate pace due to its shatterproof quality being of use in manufacturing of automobile windshields.
Construction segment accounted for USD 75.02 billion in 2017
End user industry is divided into construction, automotive, solar energy and others. Construction segment led the global market for flat glass due to their property for making buildings more energy efficient without compromising on construction strength. Construction segment accounted for USD 75.02 in total revenue during 2017. Solar Energy segment is forecasted to grow at highest CAGR of 9.87 on account of rising acceptance of solar energy as a clean alternative source in tropical regions of the world and foundation of International Solar Alliance leading to huge demand generation for low E coated solar flat glass.
Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia Pacific region dominated the global demand for flat glass with USD 43.37 billion in revenues in 2017. Rising per capita income and standard of living in the region has prompted huge construction activities in housing and commercial segment leading to huge demand for flat glass. Booming automotive sales is also one of the contributing factors for the dominance. Middle East region is projected to progress at robust pace due to ongoing construction frenzy in the region.
Major 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, among others.
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