(Newswire.net — September 15, 2022) —
According to the most recent Emergen Research analysis, the flat glass market was worth USD 140.30 billion in 2021 and is expected to grow at a 7.5% CAGR during the forecast period. Rising automotive demand for flat glass for various applications in passenger vehicles is a major factor driving market revenue growth. Furthermore, the increasing use of flat glass in the production of solar panels is expected to propel market revenue growth in the future. The bulk of solar modules used for glass production is the single largest component by mass, accounting for approximately 97% of module weight. Glass is used in solar power systems to protect components, provide structural strength to modules, and enclose cells.
The flat glass market research methodology begins with gathering data on key company revenues and raw material costs from secondary sources such as Factiva, Hoovers, Manta, and others. Product offerings are also taken into account when segmenting the market. The revenue of key players was used to calculate the overall size of the flat glass market using the bottom-up approach. Following the determination of the total market size, the market was divided into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with CEOs, VPs, directors, and executives. To complete the overall market engineering process and arrive at the results, data triangulation and market breakdown procedures were used. All segments and subsegments have precise statistics. The figure below depicts the breakdown of primary interviewee profiles:
Market Dynamics
Flat glass demand is increasing due to increased demand in one of its major end-use industries, namely the building and construction industry. The use of flat glass in various attractive and innovative architectural designs provides advantages such as refraction, transmission, and absorption of light, rust resistance, dust resistance, weather resistance, better insulation, flexibility, cost advantage, and energy-saving, which drives the growth of the flat glass market.
Flat glass is primarily used in window panels, but this transparent and versatile material is also being used in the construction of facades, doors, and walls. The availability of a diverse range of products such as float glass, laminated glass, tinted glass, and others, combined with a fashionable appearance and enhanced properties such as improved impact resistance, durability, and high thermal resistance, has influenced the flat glass market share from commercial and public construction projects.
With a volume share of more than 44.0% in 2021, the insulated product category led the global market. Demand from applications including curtain walls, storefronts, above glazing, non-vision areas, and commercial and operable windows is probably going to continue to be a major component influencing this market’s growth. Manufacturers have been forced to increase their manufacturing capacity as a result of the rising demand. For instance, in order to meet the rising demand for highly specialised goods in the architectural and construction markets, Pilkington IGP showed interest in expanding its manufacturing facility in Ostroleka, Poland in February 2020.
The category with the highest revenue share in 2021—more than 72.0%—was architectural application. The segment will continue to rise steadily between 2022 and 2030 due to an increase in construction activities and infrastructure improvements brought on by the fast urbanisation and rising population around the world. The substance can be used in a variety of car components, including windows, doors, windshields, side panels, sunroofs, and lighting. However, a reduction in global vehicle production over the past couple of years has resulted in a modest development in the automotive application area.
Flat Glass Market Competitive Landscape:
Saint Gobain, Cevital Group, Vitro, Euroglas, Schott AG, Cardinal Glass Industries, Guardian Industries, Gulf Glass Industries, Scheuten Glass, and China Glass Holdings Limited.
Flat Glass Market Segmentation:
Emergen Research has segmented the flat glass market based on product, application, and region:
· Product Outlook (Revenue, USD Billion; 2019–2030)
o Basic
o Laminated
o Insulated
o Tempered
o Coated
o Others
· Application Outlook (Revenue, USD Billion; 2019–2030)
o Architectural
o Automotive
o Others