Flat Glass Industry To Grow Due To Increasing Investment In The Building & Construction Industry
Flat glass industry data book covers coated glass, home appliance glass, fire resistance glass, automotive glass, and glass façade market.
Global flat glass industry data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research.
The global flat glass market size was valued at USD 292.95 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.1% from 2022 to 2030.
Coated Glass Market Analysis & Forecast
The global coated glass market size was valued at USD 32.32 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 9.3% from 2022 to 2030. The rising penetration of green buildings and the need to improve energy efficiency and rising awareness associated with it are projected to benefit the market growth over the coming years. Coated glass is used in residential and commercial buildings to keep the inside rooms cool and allow maximum visible light. By reflecting the infrared energy, the temperature inside the building is cooler and therefore it reduces the dependence on air conditioning systems. The product is also used in colder regions, to maintain the warm temperature of the room. In the building & construction industry, coated glass is generally used in the form of insulated glazing units in façades and windows. As a result, the growth of the construction industry in the U.S. is predicted to benefit the market.
The growth of the U.S. market is likely to be supported by the USD 1.2 trillion Bipartisan Infrastructure Bill in the country, which is projected to drive the put-in-place construction value for transport infrastructure at an average rate of 8.9% from 2020 to 2025. This is anticipated to benefit the expansion of bridges, rails, ports, water transport, telecommunications, broadband, EVs, and energy. The construction industry has recovered well since the beginning of 2021, as the COVID-19 cases have reduced significantly, benefiting the resumption of industrial activities. The residential sector in the U.S. is likely to benefit from low mortgage rates and strong demand for bigger homes. However, lack of skilled labor and rising costs for building materials remain short-term challenges for market players.
Home Appliance Glass Market Analysis & Forecast
The global home appliances glass market size was valued at USD 7.32 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.0% from 2022 to 2030. Increasing sales and the production of refrigerators, ovens, display cabinets, microwaves, and induction cooktops are anticipated to augment the market growth. In September 2021, as part of its USD 60 million investment, GE Appliances opened a new assembly line for producing four-door refrigerators in Kentucky, U.S. Tempered glass is a common material used in the interior, exterior, and control panels of appliances such as refrigerators, cookware, and microwaves. Thus, rising investments in expanding the production capacity of appliances are benefiting market growth.
The increasing production of white goods in the U.S. and growing investments in economic development are projected to augment the demand for home appliance glass over the forecast period. According to the U.S. Census Bureau, new orders for manufactured durable goods rose by USD 1.0 billion in the country, reaching USD 274.7 billion in September 2022 compared to August 2022. Also, in April 2021, Apple Inc. announced an investment worth USD 430 billion in the U.S. over the coming five years. The company aims at boosting innovation and economic benefits in every state.
Order Free Sample Copy of “Flat Glass Industry Data Book - Coated Glass, Home Appliance Glass, Fire Resistance Glass, Automotive Glass and Glass Facade Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Fire-resistance Glass Market Analysis & Forecast
The global fire-resistant glass market size to be valued at USD 4.32 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 6.2% during the forecast period. The rising number of fire accidents coupled with expansion in the construction industry is anticipated to augment the market growth over the forecast period. Rising instances of fire mishaps have prompted increased spending by the national governments globally to improve the fire safety of buildings, including residential and commercial. In addition, the growing demand for urban housing projects and high-rise buildings owing to the shift of population toward urban economic centers has led to the development of various residential projects with suitable fire safety standards. These factors are anticipated to drive the market over the forecast period.
The market witnessed a decline in 2020 on account of the COVID-19 pandemic. All market players in the industry value chain were impacted because of the pandemic. The crisis has posed new challenges, which include fluctuations in raw material prices, unemployment, minimal production, mandatory shutdowns in manufacturing, and disruptions in logistics, which hampered the market growth during the crisis. The market scenario started recovering in the second half of 2020. All factories, logistics centers, supply chains, and project sites were shut until May-June 2020. Post which, companies started ramping up their operations. The industries are putting in extra efforts to recover from their losses incurred in 2020.
Automotive Glass Market Analysis & Forecast
The global automotive glass market size was valued at USD 30.24 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.5% from 2014 to 2027. An increasing emphasis on lightweight cars on account of rising harmful emissions from vehicles that have an adverse effect on the environment is driving glass penetration in the automotive industry. According to the International Organization of Motor Vehicle Manufacturers (OICA), the production of automobiles reached 85.02 million vehicles globally in 2022. The strong production volume is attributed to the development of the automotive manufacturing sector, particularly in countries such as China and India, owing to increasing government initiatives regarding motor vehicle regulations.
The rise in the production of electric vehicles and the incorporation of various new technologies in terms of display and battery are expected to have a positive influence on the demand for automotive glass over the forecast period. For instance, in June 2019, Lightyear, a Dutch company, introduced the first prototype of its electric car called the Lightyear One, which has five square meters of integrated solar cells beneath the roof and hood. These solar panels are produced from safety glass and can recharge directly from the sun.
Glass Façade Market Analysis & Forecast
The global glass Facade market size was valued at USD 70.08 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 3.9% from 2014 to 2027. Growing investments in green building construction projects are anticipated to propel product usage over the forecast period. The adoption of glass is rising as a preferred construction material. Factors such as plenty of natural daylight, good ambiance, and energy efficiency are propelling the use of glass in Facade architecture. Other advantages include the strength to withstand harsh weather elements, flexibility in terms of transparency or translucency, aesthetic benefits, and cost-effectiveness.
Glass in the exteriors brings out the aesthetic appeal of commercial buildings, thus, positively impacting the brand value. Growing commercial construction activities owing to the increasing demand for office space and corporate hubs are positively impacting market growth. For instance, in July 2021, My Home Constructions, an Indian real-estate builder, announced to invest USD 2 billion to construct a hub of IT companies. Go through the table of content of flat glass industry data book to get a better understanding of the coverage & scope of the study.
Flat Glass Industry Data Book Competitive Landscape
Market players formulate their strategies keeping in mind the rising penetration of flat glass in numerous applications, advancements in glass and coating technologies, and raw material costs, along with the performance of the key application industries namely automotive, construction, energy, and electrical. Key players are focused on developing innovative products.
Key players operating in the are –
• AGC, Inc. • Saint-Gobain • Nippon Sheet Glass Co. Ltd. • Guardian Industries • Fuyao Glass Industry Group Co. Ltd. • Şişecam Group • Central Glass Co., Ltd.