According to the latest market study released by Technavio, the global flat glass market is expected to grow at a CAGR of more than 6% during the forecast period.
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Technavio has published a new report on the global flat glass market from 2017-2021. (Graphic: Business Wire)
This research report titled 'Global Flat Glass Market 2017-2021' provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Flat glass is commonly used in residential and commercial operations. Usually, it is found in the form of windows, doors, facades, mirrors, appliances, furniture, partition, and greenhouse. The growing market for fabricated flat glass is driving the demand for flat glass. The growth of coating techniques has increased the application of flat glass in the lighting and electrical industries. Developments in coating and painting technology are also propelling the demand for flat glass.
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Technavio's chemicals and materialsresearch analysts categorize the global flat glass market into the following segments by end-user. They are:
- Automotive
- Solar glass
- Construction
- Others
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The top three revenue-generating end-user segments of the global flat glass market are discussed below:
Construction
The increase in direct commercial real estate investment in major countries such as China, the US, the UK, India, and Japan will propel the market growth during the forecast period. In the construction sector, energy-efficient glass, which filters approximately 99.9% of the harmful UV rays and selectively reduces unwanted heat gain, is in demand. The rising awareness toward energy-efficient buildings will create opportunities for the global flat glass market.
According to Ajay Adhikari, a lead glass and ceramics research analyst from Technavio, "New residential and commercial building projects such as apartments, offices, retail malls, educational institutes, healthcare centers, and hotels will drive the global flat glass market. Globally, the building and construction sector is witnessing high growth, specifically in APAC, which is driving the demand for flat glass. The rising demand for high-rise buildings and green buildings, both in the residential and commercial sectors, is providing an impetus to the energy-efficient glass."
Automotive
Flat glasses are used in windscreens, windows, and mirrors in the automotive industry. The comfort of passengers has driven the use of flat glass in this industry. The new and improved choice for flat glass glazing in different colors of windscreens is expected to create a demand for flat glass in the automotive industry.
"The rising fuel prices, coupled with the rising temperature, will force consumers to opt for sunlight-controlled flat glass. It lowers the temperature inside the car and makes the car fuel-efficient. This saves energy, thereby providing more fuel for vehicle functioning. Due to these factors, the use of flat glass in the automotive sector is expected to increase in the next five years," adds Ajay.
Solar glass
An increased investment for solar panels and for renewable energy, in major countries such as the UK, the US, China, and Japan will propel the market growth. Moreover, the advances in technology in the global solar control glass market such as Romag PVB technology, which filters approximately 99.9% of the harmful UV rays and selectively reduces unwanted heat gain, and the rising awareness of energy-efficient buildings will create opportunities in the market.
Currently, flat glass that is used in solar glass finds use in shopping malls, commercial offices, hotels and restaurants, and government buildings. The market has a lot of potential because of its benefits such as high transmittance for the use of natural daylight, high thermal insulation, and reduction of heating costs in commercial buildings.
The top vendors highlighted by Technavio's research analysts in this report are:
- Asahi Glass
- Euroglas
- GUARDIAN INDUSTRIES
- Nippon Sheet Glass
- Saint-Gobain
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