Flat Glass Market Size to Grow by 34.3 million T from 2023 to 2027, Market growth at 5.38% CAGR expected during the forecast period, Technavio

NEW YORK, March 28, 2024 /PRNewswire/ -- The Global Flat Glass Market size is forecast to increase by 34.3 million T at a CAGR of 5.38% between 2022 and 2027. The growth of the market depends on several factors, including demand from the solar energy sector, increasing demand for flat glass from the automotive industry, and investments in construction projects globally. This market research and analysis report also includes an in-depth analysis of drivers, trends, and challenges. 

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Vendor Analysis
Vendor Landscape - The global flat glass market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer flat glass in the market are AGC Inc., Cardinal Glass Industries Inc., Central Glass Co. Ltd., CSG Holding Co. Ltd., Dillmeier Glass Co., Emerge Glass India Pvt. Ltd., Euroglas GmbH, Fuyao Glass Industry Group Co. Ltd., Koch Industries Inc., MFG SPA, Nippon Sheet Glass Co. Ltd., Pella Corp., PT Mulia Industrindo Tbk, Scheuten Glas Nederland BV, SCHOTT AG, Sisecam, Syracuse Glass Co., Taiwan Glass Ind. Corp., Vitro SAB De CV, and Compagnie de Saint Gobain S.A. and others.

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• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong

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Vendor Offerings -

•         Cardinal Glass Industries Inc. - The company manufactures residential glass for windows and doors. The key offerings of the company include flat glasses. 

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Segment Overview
Technavio has segmented the market based on type, End-user (Construction, Automotive, Solar glass, and Others), Type (Float glass, Sheet glass, and Rolled glass), and Geography (APAC, Europe, North America, Middle East and Africa, and South America). 

• The construction segment, driven by flat glasses, will significantly expand during the forecast period. These glasses, used in windows, doors, and interior decor, regulate light and heat efficiently. They offer durability in furniture and enhance ambiance while reducing carbon emissions, making them a cost-effective choice.

Geography Overview
By geography, the global flat glass market is segmented into APAC, Europe, North America, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global flat glass market.

• APAC is poised to contribute 67% to the global market growth. Key markets like China, India, and Australia are driving factors. Increased construction activities and a focus on energy-efficient buildings create growth opportunities. Consumer interest in home interiors and the rise of solar thermal panels further propel the region's market growth.

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Market Dynamics

The increasing demand for flat glass from the automotive industry is notably driving market growth:

The automotive industry's rising demand for flat glass is a key market driver. Widely adopted in automotive applications like front and rear materials and convertible sunroofs, flat glass aids in making vehicles lighter and more fuel-efficient, meeting stringent emission regulations. Major automotive manufacturing countries like China, Germany, India, France, Italy, South Korea, Japan, and the US drive demand. This trend is expected to propel market growth during the forecast period.

• The increase in EOL glass material recycling is a major trend in the market growth.
• The availability of low-cost and efficient substitutes is a major challenge impeding the market growth. 

Driver, Trend & Challenges are the factor of market dynamics which states about consequences & sustainability of the businesses, find some insights from a 

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What are the key data covered in this Flat Glass Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the Flat Glass Market between 2023 and 2027
• Precise estimation of the size of the Flat Glass Market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the Flat Glass Market industry across APAC, Europe, North America, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of Flat Glass Market vendors

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Analyst Review:

The Flat Glass Market is experiencing significant growth, driven by various factors such as solar capacity expansions, the rising demand for electric vehicles (EVs), and the booming building and construction industry. With solar capacity expansions and the emergence of floating solar farms, the demand for solar panels has surged, further bolstering the demand for flat glass used in their manufacturing.

As the automotive industry shifts towards sustainable practices, major players like General Motors are investing in EV production facilities, driving the demand for flat glass for vehicle windows and panels.

In the building and construction sector, flat glass finds extensive use in façades, partitions, and floorings, offering energy-saving solutions that comply with building codes and contribute to the development of smart cities. Innovations such as low-emissivity (low-E) windows, smart glass, and switchable privacy glass are reshaping the architectural landscape, promoting sustainability and energy efficiency.

Technological advancements have led to the development of advanced flat glass products such as 3D textured glass and self-cleaning glass, offering enhanced functionality and aesthetics. Despite the availability of direct substitutes like ceramic substrates, tempered glass, and laminated glass, the architectural segment continues to drive demand, particularly in green building projects and renewable energy installations.

With features like extruded aluminum frames, silicon PV cells, EVA film layers, and polymer rear back sheets, flat glass continues to play a crucial role in the transition towards a sustainable and energy-efficient future, making it a cornerstone of modern construction and renewable energy applications.

Market Overview:

The Flat Glass Market is witnessing robust growth, primarily driven by the thriving building and construction industry's demand for energy-efficient solutions. With increasing emphasis on energy conservation, initiatives by organizations like the International Energy Agency (IEA) have spurred the adoption of flat glass with metallic and/or metal oxides coatings, known as Low-E glass, which significantly reduce heat transfer. Moreover, flat glass finds applications in solar panels for solar capacity expansions and floating solar farms, as well as in electric vehicles (EVs) produced by companies like General Motors, which require flat glass for EV production facilities. In the construction sector, flat glass is used in façades, doors, partitions, floorings, and windows, ensuring compliance with building codes and contributing to the development of smart cities. Technological advancements have led to the introduction of innovative products such as smart glass, switchable privacy glass, 3D textured glass, and self-cleaning glass, catering to diverse architectural needs and green building projects. Additionally, flat glass components like tempered glass and laminated glass, integrated with extruded aluminum frames, silicon PV cells, EVA film layers, and polymer rear back sheets, enhance durability and performance in various applications.

Related Reports: 

The glass market is estimated to grow by USD 99.26 billion at a CAGR of 5.77% between 2022 and 2027. 

The solar cover glass market size is estimated to grow at a CAGR of 10.24% between 2023 and 2028. The market size is forecast to increase by USD 4,274.62 million. 

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
Jesse Maida
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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