Global Flat Glass Market: Demand Analysis
As per the findings of this market research report from IndustryARC, the global flat glass market was valued at $12 billion in 2018, and it value is estimated to grow at a CAGR of around 6% during the forecast period 2019-2025. Increasing demand of tempered glass in the automotive industry is currently the primary driver of the global flat glass market, feeding off economic growth of several developing countries. As many as 97 million automotive vehicles were produced across the world in 2017, according to the Organisation Internationale des Constructeurs d'Automobiles, with 5.83% increment over the previous year in India and 3.19% increment in China. Additionally, the increasing demand for fabricated flat glass products such as solar glass panels and electronic displays also have positive impact on the flat glass market. Amorphous or non-crystalline solids are used in applications such as automotive, solar panel, aerospace, and some other industries, which propel the flat glass market.
Construction Industry Leveraging Benefits of Flat Glass
The report estimates that the construction industry currently serves more than 50% of the total demand in the global flat glass market, although the end use segment is anticipated for less-than-average CAGR of 4.2% during the aforementioned forecast period, primarily because of the other segments catching up. High rise buildings are mushrooming across emerging economies, with foreign investments pouring in for low-cost skilled labor that is offered by countries such as China and India. The builders have realized the benefits of flat glass as window panes in appearance, cost savings in terms of energy efficiencies, ease of cleaning, and lower maintenance. Consequently, offices, residential apartments, retail malls, healthcare centers, educational institutes, and restaurants and hotels are now being built with significant inclusion of flat glass.
Solar Panels Creating Volumes of Demand in Flat Glass Marketplace
Increasing government investments in renewable energy sources is identified as yet another factor fueling demand in the flat glass market, with solar energy applications fairly ubiquitous across the globe. For instance, investments into clean energy in India rose 22% in the first half of 2018. The newly formed NDA Government in the country has been eyeing the pole position in the clean energy transformation, looking to have at least 175,000 megawatts (MW) of mounted renewable energy capacity by 2022. As many countries are investing in renewable energy, the rising usage of flat glass in the solar panels is consistently stroking the market for the same. To increase installation of photovoltaic solar-power plants, the production of flat glass and its raw materials must expand commensurately to eliminate future imports and supply constraints.
Flat Glass Market: Key Drivers and Disruptive Trends
- The increasing focus of manufacturers on the recycling of glass waste material in flat glass manufacturing process. The flat glass manufacturing industries are more focused on recycling broken waste glass in the manufacturing process as their raw material. This lessens the carbon dioxide emissions. Furthermore, the recycling of glass waste supports in diminishing the glass content going in the landfills and the cut in production cost by increasing the quantity of cullet in the raw material. These benefits of recycling of glass waste material will enhance growth in the global flat glass market for the construction industry in the coming years.
- Technological developments in energy harnessing owing to superior properties such as recyclability and sustainability are expected drive the growth of the market in lucrative energy application.
- Rising demand of flat glass in automotive sector for manufacturing windshields and windows of vehicles like cars, aero planes and some other vehicles.
- Increasing utilization of photovoltaic modules and solar panels for the requirement of renewable energy is driving the growth of flat glass market.
Global Flat Glass Market: Competitive Landscape
- Saint Gobain, Schott Glass, Euroglass, NSG, Asahi Glass AGC Inc., Glass for Europe, and Sisecam are some of the key players ahead of the curve in the global flat glass market.
- AGC Inc. is a multinational glass manufacturer with substantial share in the flat glass market, with its products catering to a number of sectors including construction, automotive, consumer products, solar glass, and architectural glass.
- Glass for Europe is another giant in the flat glass marketplace, with its products catering to various sectors such as buildings, transport, solar energy and some other end use applications. In buildings, it is used for facades, windows, and as flooring material. In transport, it is used as wind shields, side screen and sunroof. In solar energy, it is used as solar panel, collectors and solar mirrors.
- Sisecam is a pioneering organization in the flat glass market. It conducts the activities in four main areas including architectural glass, automotive and transportation related glass products, energy glass, and home appliance glass. Quality is always the highest priority for the Sisecam flat glass. Şişecam Flat Glass carries out efforts towards preservation of environment, human life, resource and energy saving, and registers solid progress in the reduction of production costs with the projects that increase energy efficiency. Since it acts in an industry with high energy efficiency, it considers the reduction of use of energy among its highest priority issues. As a result, preservation of the natural resources and the reduction of the total greenhouse gas emissions and waste, are targeted.
- Saint-Gobain designs, manufactures, and distributes flat glass materials for building industry and automotive sectors. The sales for flat glass material in this company is increasing from year to year because of their best quality production. Saint-Gobain India’s glass plant has the third lowest cost across its worldwide plants. Saint-Gobain on January 28, 2019 opened a new flat glass production line (float) in India located in Sriperumbudur, near Chennai, India. This new state-of-art facility was built in Saint-Gobain World Glass Complex. A 70-hectare industrial site includes advanced glass processing units for construction industry and fire safety. This serves the domestic demand which is growing at a rate of 8% per annum in the country.
Growing automotive and construction industries, especially in Asia-Pacific, is increasing the demand in the flat glass market. Moreover, growing focus towards the energy efficient buildings is poised to add new revenue avenues for the flat glass market companies in the near future.