Flat Glass Market Size to Reach USD 153.21 Billion by 2026; Rising Need to Save Electricity Will Favor Growth

The global flat glass market size is projected to reach USD 153.21 billion by 2026. It is set to gain momentum from the increasing awareness campaigns worldwide regarding saving electricity. It is resulting in the increasing usage of products offering low energy ratings. This information is given by Fortune Business Insights™ in a recent report, titled, “Flat Glass Market Size, Share & Industry Analysis, By Type (Float, Sheet, and Rolled), By Product Type (Coated, Extra Clear, Laminated, Toughened, and Others), By Application (Architecture, Automotive, Solar Panels, and Others), and Regional Forecast, 2019-2026.” The report further states that the market stood at USD 98.37 billion in 2018. However, it is set to exhibit a CAGR of 5.7% during the forecast period between 2019 to 2026.

Saint-Gobain Inaugurates its Third Float Glass Plant Unit in India

In January 2019, Saint-Gobain, a multinational corporation headquartered in France, opened its third float glass plant unit in India. It is located at Sriperumbudur in Kancheepuram district. The factory complex is mainly known as the World Glass Complex. It houses two float glass plants. Hence, the total production capacity is 1,500 tonnes per day. This new facility will aid in surging the production. Earlier, the company had invested a hefty amount of money in developing Saint-Gobain Research India. Its main aim was to create unique solutions, for both the world and the market in India.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/flat-glass-market-102720

Rapid Industrialization Worldwide to Accelerate Growth

Flat glass is mainly used in the facades, windows, and roofs of buildings. It is also utilized in the internal partitions and is considered to be a crucial architectural feature. It consists of various properties, such as excellent thermal insulation and acoustic insulation. Therefore, it is gaining more and more popularity from the building and construction industry. Also, the increasing number of infrastructural development and construction activities across the globe is likely to propel this market growth in the coming years.

Apart from that, rapid industrialization is resulting in the high demand for flat glass as they are being installed in the commercial buildings for driving the usage of natural lights. However, during the decomposition process of nitrogen and sulfur compounds, the release of toxic gases, namely, nitrous oxides and sulfur oxides often leads to acidification and hence, causes smog. It may hinder the market growth.

Industry Giants Focus on Acquisitions & Opening New Facilities to Intensify Competition

The market houses numerous big, small, and medium enterprises that are currently striving to understand the pattern of consumer preferences and behaviour by conducting researches on the market trends. Several enterprises are adopting the strategy of mergers and acquisitions, while the others are investing huge sums in developing new facilities to augment their production capacity.

Fortune Business Insights™ lists out the names of all the companies operating in this market. They are as follows:

• AGC Inc.
• Fuyao Glass Industry Group
• Saint-Gobain
• NSG Group
• Şişecam Group
• Taiwan Industry Glass Corporation
• Vitro, S.A.B. De CV
• Central Glass
• CSG Holdings Co. Ltd.
• Guardian Industries
• Other key market players

A Significant Industry Development-

• November 2016: Şişecam Group, a renowned provider of glass products headquartered in Istanbul, announced its acquisition of all the assets of Sangalli Vetro Porto Nogaro, a flat glass manufacturer based in Italy. The total deal was worth USD 93 million. Şişecam is set to become one of the largest flat glass manufacturers in terms of capacity in Europe. It would occur as Sangalli owns a production capacity of 220,000 tons. As per the officials of Şişecam, this acquisition would aid it in surging its competitiveness in West Europe based on logistics and production capacity.  

Further Report Findings

• Asia Pacific generated USD 53.41 billion in 2018 in terms of flat glass market revenue. This growth is attributable to the rising investments by the governments of various countries for initiating construction activities and infrastructural development.
• Europe would grow considerably being a major automotive hub.
• Based on product type, the coated segment held 23.9% flat glass market share in 2018 owing to their possession of various properties, such as self-cleaning, hydrophobic, anti-reflection, and improved insulation.

The market is segmented in the following way: