Product Code: 56126
The flat glass market is expected to reach at a CAGR of over 9%, over the forecast period. Insulated flat glass is witnessing increasing deployment, as it reduces pollution, saves energy, and improves the comfort inside the building. The enhanced properties of acoustic insulation and thermal insulation provided by these products are expected to drive the demand.
- Factors, like increasing urbanization, rise in the real estate sector, usage of solar products, and product innovation, in terms of characteristics, are further driving the growth of the market.
- The growing solar energy market, due to the increasing dependency on renewable energy sources, along with the subsidies available for energy storage, is to propel the growth of the market studied.
- As there are only a few products that are involved in the production of flat glass, they cannot be substituted by others. However, fluctuating raw material prices, coupled with weak supply chain management, have a considerable effect on the overall price of flat glass products, challenging the market growth.
Key Market Trends
Construction Industry to Drive the Demand for Flat Glass
- The construction industry is the largest end-user segment of the market studied. Moreover, the ongoing trend of smart city projects is also anticipated to drive the flat glass demand.
- Flat glasses are made of sodium silicate and calcium silicate, and are available from 2mm to 20mm thickness ranges, for several applications. They have a weight range of 6kg/m2-36 kg/m2. These glasses are often considered as building blocks for several types of architectural and interior applications.
- Glasses are being used extensively in the construction industry, in windows, facade, doors, interior partitions, balustrades, shop fronts, and railings for stairs and balconies, among other building parts, providing potential opportunity to float glasses.
- The body-tinted float glass is a new type of glass, in which, melted colorants are added for coloring and solar-radiation absorption properties. This type of glass saves energy, reduces heat penetration into buildings, and provides a striking visual effect.
- Previously, flat glass was used for smaller windows in domestic housing, since larger windows required toughened glasses. Currently, flat glass can also be toughened by putting it through a heating process, which very nearly melts it, and then cools it to ambient temperatures, using a jet of cold air. This glass requires a greater pressure to break. This characteristic makes the glass suitable for use in building applications.
- The construction sector of Asia-Pacific has been witnessing a steady growth, in the recent past, owing to the presence of fast-growing economies, rapid urbanization, and rising infrastructure spending. The increasing presence of foreign companies in the Asia-Pacific region has also created demand for the construction of new offices, buildings, production houses, etc., thereby, driving the growth of the construction sector in the region.
- Owing to all the aforementioned factors, the market for flat glass is projected to grow during the forecast period.
Asia-Pacific to be the Fastest Growing Market
- Owing to the presence of emerging countries, such as India, China, and South Korea, among others, the Asia-Pacific region is expected to become the fastest growing sector in the flat glass market.
- Moreover, international vendors are shifting their manufacturing base to the Asia-Pacific region. This can be due to the availability of cheap unskilled and skilled workers in the region.
- Rapid industrialization and urbanization in India, China, and other countries in the Asia-Pacific region, combined with the adoption of smart and energy efficient technology as advanced construction practice have a positive influence on the flat glass demand.
- Increase in applications, such as window and windshield, in countries, such as India and China, may also drive the market. For instance, in India, according to the IBEF, 24.97 million vehicles were sold in the recent past.
- China's 13th Five Year Plan started in 2016, as it was an important year for the country's engineering, procurement, and construction (EPC) industry. In addition, the country ventured into new business models domestically and internationally, during the year. Although the construction sector slowed down after 2013, it is still a major contributor to the GDP of the country. The China's construction industry developed rapidly in the recent past, due to the central government's push for infrastructure investment, as a mean to sustain economic growth.
- All the aforementioned factors, in turn, are expected to drive the demand for the flat glass in the region during the forecast period.
The flat glass market is highly consolidated, with the top four players constituting more than half the market share. Dynamic shifts in the product standards, like lightweight and non-fragile nature, are driving the flat glass manufacturers to incorporate the latest innovative methods. Some of the key players include Saint-Gobain, SCHOTT AG, OGIS GmbH, Nippon Sheet Glass Co., Ltd, Asahi Glass Group, and PPG Industries, Inc, among others.
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Table of Contents
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Drivers
- 4.1.1 Growing Demand for Electronic Displays
- 4.1.2 Increasing Applications in the Automotive Industry
- 4.2 Restraints
- 4.2.1 Fluctuating Raw Material Prices
- 4.3 Industry Value Chain Analysis
- 4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 Product Type
- 5.1.1 Insulated Glass
- 5.1.2 Tempered Glass
- 5.1.3 Laminated Glass
- 5.1.4 Other Product Types
- 5.2 End-user Industry
- 5.2.1 Construction
- 5.2.2 Automotive
- 5.2.3 Other End-user Industries
- 5.3 Geography
- 5.3.1 Asia-Pacific
- 188.8.131.52 China
- 184.108.40.206 India
- 220.127.116.11 Japan
- 18.104.22.168 South Korea
- 22.214.171.124 Rest of Asia-Pacific
- 5.3.2 North America
- 126.96.36.199 United States
- 188.8.131.52 Canada
- 184.108.40.206 Mexico
- 5.3.3 Europe
- 220.127.116.11 United Kingdom
- 18.104.22.168 Germany
- 22.214.171.124 France
- 126.96.36.199 Italy
- 188.8.131.52 Rest of Europe
- 5.3.4 South America
- 184.108.40.206 Brazil
- 220.127.116.11 Argentina
- 18.104.22.168 Rest of South America
- 5.3.5 Middle-East and Africa
- 22.214.171.124 Saudi Arabia
- 126.96.36.199 South Africa
- 188.8.131.52 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Analysis**
- 6.3 Strategies Adopted by Leading Players
- 6.4 Company Profiles
- 6.4.1 AGC Inc.
- 6.4.2 Cardinal Glass Industries, Inc
- 6.4.3 OGIS GmbH
- 6.4.4 GUARDIAN INDUSTRIES
- 6.4.5 Nippon Sheet Glass Co. Ltd
- 6.4.6 Phoenicia
- 6.4.7 PPG Industries, Inc
- 6.4.8 Saint-Gobain
- 6.4.9 SCHOTT AG
- 6.4.10 Asahi India Glass Limited
- 6.4.11 Vitro
7 MARKET OPPORTUNITIES AND FUTURE TRENDS