Flat Glass Market Will Reach USD 404.75 Billion By 2032
According to a report by Reports and Data, the global flat glass market size was valued at USD 284.37 billion in 2022 and is projected to register a revenue CAGR of 4% over the forecast period. The demand for low-emissivity (low-e) flat glass is increasing due to the focus on sustainable and energy-efficient buildings. This trend is expected to drive market revenue growth as more construction projects work to reduce carbon emissions and increase energy efficiency.
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Flat glass is used in sunroofs, side and rear windows, and the automotive industry is a significant contributor to market revenue growth. The growing demand for lighter, more fuel-efficient automobiles is driving the use of flat glass in the automotive industry. Furthermore, the use of flat glass in electric car windows is expected to fuel market revenue growth.
The revenue growth of the market is also driven by technological advancements such as the development of smart glass, self-cleaning glass, and electrochromic glass. These advancements are contributing to the growth of the market as they provide privacy, reduce glare, eliminate manual maintenance, and change color in response to changes in light.
The report highlights that the tempered glass segment is expected to dominate the revenue share during the forecast period due to its superior strength and survival capabilities in harsh weather situations. The construction and infrastructure segment is anticipated to contribute the most to overall revenue, driven by rising urbanization, population expansion, and disposable incomes. The Asia Pacific market is expected to hold the largest revenue share due to the burgeoning construction and automotive sectors in the region.
Some of the prominent players in the global flat glass market include AGC Inc., Saint-Gobain S.A., Corning Incorporated, Nippon Sheet Glass Co., Ltd., Guardian Industries, Schott AG, Pilkington Group Limited, Vitro S.A.B. de C.V., Fuyao Glass Industry Group Co., Ltd., and China Glass Holdings Limited.
The report also provides information on recent developments in the market, including Saint-Gobain S.A.'s acquisition of Owens Corning's insulation division and Corning Incorporated's release of Corning Gorilla Glass Vectus for smartphones and wearable devices.
The global flat glass market has been segmented based on type outlook, end-use industry outlook, and regional outlook. The types of flat glass include tempered glass, laminated glass, basic glass, insulating glass, extra clear glass, and others. The end-use industries include construction and infrastructure, automotive and transportation, solar energy, and others. The regional outlook includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Flat Glass Market: Drive factors
The global flat glass market is expected to experience a revenue compound annual growth rate (CAGR) of 4% during the forecast period. The increasing demand for low-emissivity (low-e) flat glass is being driven by the growing focus on sustainable and energy-efficient buildings. Flat glass is also extensively used in the automotive industry for sunroofs, side and rear windows, and electric car windows. Additionally, technological advancements such as smart glass, self-cleaning glass, and electrochromic glass are contributing to the growth of the market. The demand for high-quality and energy-efficient flat glass is increasing due to regulations aimed at reducing carbon emissions and promoting green building. The construction and infrastructure segment is anticipated to contribute the most to overall revenue, particularly in emerging economies where there is a rising demand for energy-efficient buildings. The Asia Pacific market is expected to hold the largest revenue share due to the burgeoning construction and automotive sectors in the area. Some of the prominent players in the global flat glass market include AGC Inc., Saint-Gobain S.A., Corning Incorporated, Nippon Sheet Glass Co., Ltd., and Guardian Industries.
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