Global Float Glass Market - 2024-2031

Overview

Global Float Glass Market reached US$ 43.8 billion in 2023 and is expected to reach US$ 62.3 billion by 2031, growing with a CAGR of 4.5% during the forecast period 2024-2031.

Due to the growing need for high-performance, energy-efficient glass solutions across a variety of industries, the global float glass market offers players significant prospects. The float glass industry is expected to grow steadily and evolve as long as market participants keep coming up with new products and expanding their services.

The adoption of renewable energy is leading the way throughout Europe, especially in the area of solar power. The demand for premium float glass products is driven by the continent's emphasis on renewable energy sources, as float glass is a crucial component in the production of solar panels. For instance, on June 13, 2023, AGC Glass Europe started manufacturing Low-Carbon Planibel Clearlite, a float glass with a more than 40% reduced carbon footprint, at its Moustier, Belgium facility six months ago.

AGC added a Low-Carbon version of Stratobel (safety glass), Stratophone (acoustic glass), iplus (thermal insulation glass), Stopray and Energy (solar control glass) and toughenable coatings (T-coatings) to its line of Low-Carbon glass now that it has this extra production capacity online. All thicknesses ranging from 3 to 10 mm are now offered throughout the entire range. Therefore, the Europe is contributing significantly to the growth of the global market with capturing nearly 1/4th of the global market share.

Dynamics

Enhancing Production Efficiency through Technological Advancements

Investing in production facilities frequently entails implementing automation and cutting-edge technology. The improvements increase productivity and efficiency, which raises output levels and lowers the cost of making a unit of float glass. Manufacturers may better fulfill consumer requests and stay competitive in the market with increased efficiency.

In April 2023, Pilkington North America, Inc. plans to invest US$ 86.8 million in its operations located in Scotland County, North Carolina, USA. The project will add 20 employees to the company's float glass factory in Laurinburg by rebuilding one of its two float glass lines, expanding its coating capabilities and improving other building and equipment aspects.

Modernizations of quality control procedures and systems are frequently included in investments made in production facilities. Manufacturers can improve customer satisfaction and establish a reputation for excellence and dependability by ensuring constant product quality and adhering to industry standards. Demand for high-quality float glass products is rising, which is driving up market expansion.

Expanding Market Presence through Localized Production Facilities

Manufacturers can enter unexplored markets with the help of floating glass factories in emerging markets. By providing for the unique requirements and tastes of regional consumers, these facilities help manufacturers grow their consumer base while gaining more market share.

For instance, in October 2022, the NSG Group announced that the building of the second float glass factory is complete and that it is now operational. Situated in Los Cardales, Buenos Aires state, Argentina, the new facility is run by Vidrieria Argentina S.A., a joint venture subsidiary with more than 8 decades of experience in Argentina.

By lowering reliance on imports and lowering the risk of global supply chain disruptions, local production of float glass in developing economies strengthens the robustness of the supply chain. The adaptability ensures a steady flow of float glass products that meet regional and local market demands.

Volatility in Raw Material Prices

Relationships between float glass producers and their suppliers may be strained by abrupt changes in the price of raw materials. There may be negotiations over pricing terms or sourcing options if suppliers are unable or unable to absorb the full impact of price rises. It may affect the stability of production and upset the dynamics of the supply chain.

Cost uncertainty for raw materials can destabilize the supply chain, which resulted into the shortages and delays in the delivery of crucial components needed to produce float glass. Disruptions into the supply chain could potentially interfere with manufacturing schedules, increase lead times and spoil customer relations, all of which could be detrimental to the overall growth of the industry.

Segment Analysis

The global float glass market is segmented based on material, type, application, end-user and region.

Owing to Increasing Demand in Construction, Production of Clear Float Glass is Driving

In addition to its optical clarity and adaptability in design, clear float glass is frequently used in the building industry for windows, doors, facades and partitions. Global building activity is still on the rise, especially in emerging nations and this is driving up demand for clear float glass. For example, in October 2022, AGC declared that by the end of 2022, it started the production of a variety of float glass products with a significantly lower carbon footprint of less than 7 kg of CO2 per m2 for clear glass with a thickness of 4 mm.

Clear float glass manufacturers constantly develop unique concepts to improve their products' energy efficiency, such as insulated glazing units and low-E (low-emissivity) coatings. The developments make it possible for clear float glass to comply with ever-tougher green building guidelines and energy efficiency standards, which promotes its use in environmentally friendly building projects and expands the market. Therefore, the clear type segment contributes significant to the global segmental share.

Geographical Penetration

Government Initiatives and Investments

The Indian government has been putting plans into operation to support smart cities, affordable housing and infrastructure development, all of which increase demand for float glass. Furthermore, the regional float glass market is increased by investments in manufacturing infrastructure, such as the "Make in India" initiative, which offers incentives to companies to establish production facilities in the nation.

For instance, in January 2024, Govt. of Maharashtra and the Qatar-based conglomerate Aria Holding have inked a memorandum of understanding for the investment of US$ 240.5 million in a float glass facility. Therefore, India is contributing significantly to the growth of the regional float glass market with more than 25% of the regional market share.

COVID-19 Impact Analysis

The pandemic also altered the global landscape for glass manufacturing with many small and medium glass manufacturing enterprises going bankrupt. Only companies that survived were mostly large, multinational glass manufacturing companies with significant cash reserves to ride out the pandemic-induced crisis. The post-pandemic period has witnessed a consolidation in favor of large and multinational players. However, this development is expected to be damaging to long-term market growth because it will increase prices and limit end-user choices.

The COVID-19 epidemic has also posed challenges for the global glass sector. The sector has had to deal with rising raw material costs, including sand, soda ash and limestone, owing to persisting supply chain restrictions that persist even as demand normalizes.

Russia-Ukraine War Impact Analysis

The protracted conflict between Russia and Ukraine war has created unexpected second-order effects for the global glass market. The single largest impact was felt by European glass manufacturers due to a steep increase in energy prices. Taking January 2021 as a baseline, industrial energy prices had risen by 2.1 times by early April 2022, during the initial period of the war, rising to a peak of 2.7 times increase by July 2022. Although energy prices stabilized somewhat in the next few months and remained stable throughout 2023, they still remained at least 2.2 to 2.4 times more expensive than the January 2021 baseline. The main reason for a steep hike in energy prices is the economic sanctions imposed on Russia for the war, which led Russia to snap energy supplies to European countries.

By Material

• Sand
• Limestone
• Soda Ash
• Dolomite
• Others

By Type

• Clear
• Tinted
• Reflective
• Mirror
• Others

By Application

• Building and Construction
• Automotive
• Solar Glass
• Others

By End-User

• Automotive & Transportation
• Building & Construction
• Energy
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In January 2024, Govt. of Maharashtra and the Qatar-based conglomerate Aria Holding have inked a memorandum of understanding for the investment of US$ 240.5 million in a float glass facility.
• In October 2023, a new glass line from NSG Group has 50% less embodied carbon than regular float glass. According to company representatives, Pilkington Mirai is produced with 100% renewable electricity, a significant percentage of recycled glass and alternative fuel.
• In October 2022, AGC declared that by the end of 2022, it started the production of a variety of float glass products with a significantly lower carbon footprint of less than 7 kg of CO2 per m2 for clear glass with a thickness of 4 mm.

Competitive Landscape

The major global players in the market include AGC Inc., Saint-Gobain S.A., Asahi Glass Co., Ltd., Nippon Sheet Glass Co., Ltd., Guardian Industries, Pilkington Group Limited, NSG Group, Sisecam Group, CSG Holding Co., Ltd. and Euroglas GmbH.

Why Purchase the Report?

• To visualize the global float glass market segmentation based on material, type, application, end-user and region, as well as understands key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of float glass market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global float glass market report would provide approximately 69 tables, 67 figures and 190 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies