PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1290844
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1290844
Flat Glass Market size was valued at USD 277,805.7 million in 2022, expanding at a CAGR of 4.8% from 2023 to 2030.
Flat glass is a versatile and widely used type of glass that is manufactured in flat form and has a smooth surface. It is one of the most used materials in the construction and architecture industry, due to its properties and the large number of options it offers. The flat glass industry and the flat glass finishing and processing industry manufacture flat glass products for construction, architecture, automotive construction, and furniture-making applications. Flat glass is an essential material in modern construction and various industries, offering functionality, safety, energy efficiency, and aesthetic appeal.
Flat Glasses are being used extensively in multiple industries. An increase in the use of flat glass in construction or infrastructural and automotive applications is expected to propel the growth of the Flat Glass Market. According to construction industry statistics, Construction projects undertaken in the US in 2021 are valued at approximately USD 1.6 trillion. Governments and private sectors continue to invest in infrastructure development, such as transportation systems, airports, and public facilities. These projects require flat glass for windows, glass facades, and other applications. Furthermore, the increasing production of vehicles worldwide and the incorporation of larger and more complex glass components, such as windshields, side windows, and sunroofs, contribute to the demand for flat glass.
The Global Flat Glass Market is segmented on the basis of Product Type, Application, and Region.
The market is divided into four categories based on product type: Basic, Tempered, Laminated, Insulated, and Others. The laminated segment dominates the market growth. Laminated glass is a versatile product that addresses safety, security, sound control, UV protection, and design requirements across multiple industries. It is a specific type of flat glass product that plays a significant role in various applications across industries like architectural, automotive, and specialized sectors.
The market is divided into two categories based on application: Architectural, Automotive, and Others. The Architectural sector dominates the market and is likely to maintain its dominance during the forecast period. The demand for flat glass in architectural applications has been steadily growing due to various factors driving the construction industry.
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. Asia Pacific is anticipated to propel the growth of Flat Glass Market, due to growth in construction and infrastructure activities. The Asia Pacific region has been witnessing significant growth in building construction, including residential, commercial, and institutional developments. Euromonitor International is devoted that the Asia Pacific region is set to remain the key construction and real estate market, accounting for nearly 40% of the global industry's output value by 2030. Asia Pacific countries are spending severely on infrastructure activities, including transportation systems, airports, railways, bridges, and tunnels. Followed by this region, North America and Europe are also expected to drive the growth of Flat Glass Market, due to the rising adoption of energy-efficient glass.
Due to the continued development in demand for flat glass in the coming years, the worldwide market for Flat Glass is made of both international and local producers, making it one of the most competitive sectors in the world. The manufacturers, among others, contribute to the global supply of flat glass and play a significant role in meeting the demand from various industries. Companies evaluate their presence in different regions and their ability to serve local markets efficiently, with factors such as production facilities, logistics capabilities, and customer service infrastructure. Manufacturers are focusing on technological advancement by analyzing the competitive landscape. they look forward to innovations in glass coatings, energy-efficient solutions, self-cleaning properties, and lightweight designs. For example, for example, in 2022, AGC, a world-leading manufacturer of glass, chemicals and high-tech materials, announces that its 100% subsidiary, AGC Glass Europe S.A. has announced that by end of 2022, it will produce a float glass range featuring a significantly reduced carbon footprint of less than 7 kg of CO2 per m2 for a clear glass (4 mm thickness). Some of the primary techniques used by corporations to strengthen their reach and expand their market share include new product launches, distribution network development, R&D spending, and mergers and acquisitions
In 2023, AGC and Saint-Gobain, worldwide flat glass manufacturers leading in sustainability, announce that they are collaborating on the design of a pilot breakthrough flat glass line that is expected to reduce very significantly its direct CO2 emissions.
The scope of this report covers the market by its major segments, which include as follows: