Flat Glass Industry to Grow Immensely at a CAGR of 4.10% From 2022 To 2030

Flat Glass Industry Data Book - Coated Glass, Home Appliance Glass, Fire Resistance Glass, Automotive Glass, Glass Facade Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 2030

The global flat glass market is anticipated to grow by CAGR of 4.1% over the forecast period. Increasing need for energy-efficient buildings is expected to transform the energy-saving glass market, which is further expected to have a positive impact on the global market.

Flat GlassIndustry Data Book Coverage-

Flat GlassIndustry Data Book Coverage Snapshot

Access the Global Flat Glass Industry Data Book, 2023 to 2030, compiled with details like marketsizing information forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory technological framework studies.

Automotive Glass Market Growth Trends

The globalautomotive glass market sizeis anticipated to reach USD 43.1 billion by 2027, according to a new report by Grand View Research, Inc., registering a CAGR of 4.5% over the forecast period. Growing emphasis on electric vehicles and new norms such as BS VI in India which would bring Indian motor vehicle regulations into alignment with European Union regulations are anticipated to drive the automotive glass production across the forecast period.

Despite the decline in automotive production in 2018 and 2019, the market is expected to witness growth on account of the rise in production of commercial vehicles and increasing product demand from the aftermarket. The increasing number of vehicles on the road, along with growing accidents, drives the need for repair, maintenance, and replacement, which would subsequently drive the demand for glass.

Innovation and technological advancements are the key factors driving the market growth. Various technological advancements are being witnessed in the applications of automotive glass. For instance, new features were introduced in windshields and sunroofs for luxury cars in 2019. Growing demand for smart glass technology is likely to drive the product utilization in windshields over the forecast period.

Increasing demand for commercial transportation services such as buses and taxicabs are anticipated to boost the demand for light commercial vehicles (LCVs). In addition, rapid urbanization, improved road infrastructure, and supportive regulatory policies are expected to boost the demand for LCVs, thereby resulting in market growth.

Tempered dominated the product segment in 2019. Rapidly growing commercial vehicle production in Asia Pacific is expected to drive the demand for tempered glass over the forecast period. Moreover, about 30,000 people are killed by road accidents every year in America. This has led to an increased focus on the development of vehicles with high safety levels, thereby driving the market growth.

Growing urbanization, increased spending capacity of consumers, and the development of the automotive sector in countries including Brazil and Argentina are anticipated to positively affect the market over the coming years. In addition, increasing electric vehicle production owing to supportive government policies is expected to drive market growth.

Order your copy of the Free Sampleof Flat Glass Industry Data Book - Coated Glass, Home Appliance Glass, Fire Resistance Glass, Automotive Glass, Glass Facade Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 2030 Data Book, published by Grand View Research

Glass Facade Market Growth Trends

The globalglass facade market sizeis expected to reach USD 92.6 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.9% from 2021 to 2028. The market growth is attributable to the rising penetration of glass as a construction material owing to benefits such as aesthetics, cost-effectiveness, and energy efficiency.

The principal front of a building facing a street or open space is knownas facade. Differenttypes of glass such as tempered, laminated, and insulated are used in the exterior facade of both residential and non-residential buildings. Increasing investments in construction activities are expected to boost market growth over the forecast period.

Based on product, the market is segmented into tempered, insulated, laminated, and others. Insulated is anticipated to dominate the global market across the forecast period. IGUs are extensively preferred in green buildings as it minimizes ecological footprint and is made from multiple glass panes, which reduces the heat transfer.

Increasing environmental concerns have resulted in the rising number of green building projects, which is anticipated to boost product demand over the forecast period. For instance, in 2021, Nestles headquarter buildings decided to incorporate smart glass from Sage Glass company to give its structures an energy upgrade. The new glazing offers a beautiful outdoor view to employees, plenty of natural light, and regulates the influx of heat from the sun.

In terms of application, the residential segment is anticipated to register a higher growth rate over the forecast period. The benefits of glass as a facade material and increasing investments in housing construction are anticipated to augment the segment growth. For instance, in India, as per the 2021 - 22 budget allocation, total expenditure in the Ministry of Housing and Urban Affairs is estimated at INR 54,581 crore (~USD 7,366.7 million), which is 14% higher than the previous FY.

Region-wise, Asia Pacific is anticipated to register a CAGR of 4.5%, in terms of revenue, across the forecast period. The increasing infrastructural developments and manufacturing growth are factors propelling the demand for glass facades in Asia Pacific. Large investment projects in developing regions like Southeast Asia are further anticipated to boost the market growth.

Competitive Landscape

Key players operating in theflat glassindustry are

• AGC, Inc.,
• Saint-Gobain,
• Nippon Sheet Glass Co., Ltd.,
• Guardian Industries,
• Fuyao Glass Industry Group Co., Ltd.,
• Şişecam Group,
• Central Glass Co., Ltd.

Grand View Researchsflat glassIndustry data book is a collection of market sizing information forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

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