NEWARK, Delaware, Oct. 27, 2022 (GLOBE NEWSWIRE) — The global flat glass market is expected to reach US$8.8 billion by 2032, with the market growing at a standard CAGR of 5.2% from 2022 to 2032. Starting at $5 billion in 2021, the target market will reach an estimated $5.3 billion in 2022. The increased demand for durable, energy efficient and affordable building products is fueling the growth of the flat glass market. An increasing shift in consumer preference for glass in interior and exterior buildings for aesthetic reasons further adds to the growth of the target market over the forecast period.
The rapidly advancing construction sector is the main growth driver of the flat glass market. The increasing spending on infrastructure projects and the development of eco-friendly green buildings, which are expected to help reduce carbon emissions into the environment, further support the growth of the flat glass market.
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The flat glass market is expected to see an increase in its international sales due to the increasing demand for renewable energy around the world. This is because flat glass is typically used in photovoltaic modules, E-glass constructions and solar panels. Therefore, increasing demand for renewable energy is also driving demand for flat glass. This material is increasingly replacing traditional materials such as brick, stone and wood. In addition, insulated flat glass is transparent and recyclable, which reduces pollution and also increases comfort for building occupants.
Another factor driving the market growth is the booming automotive industry. Tempered glass is increasingly being used by automotive manufacturers for its shatterproof properties, which can help prevent serious injury and potential life-threatening injuries in the event of an accident. Other aspects, such as the application of nanotechnology to manufacture lightweight glass and solar control modules, as well as increasing urbanization and rising disposable incomes will drive the flat glass market over the forecast period.
“An increase in infrastructure spending for the development of green and eco-friendly buildings will complement global flat glass market growth over the forecast period,” says an FMI analyst.
The central theses:
- The expanding construction and infrastructure sector is driving the market growth.
- Fluctuating commodity prices can affect market growth.
- The expanding residential construction sector will drive the target market in the United States.
- The Asia-Pacific region is expected to dominate the target market between 2022 and 2032.
- Infrastructure development in the Asia-Pacific region will drive the flat glass market.
Asahi Glass, Nippon Sheet Glass, Guardian Industries and Saint-Gobain, among others, are some of the major players in the flat glass market that are featured in the full version of the report.
Key market players are focused on forming strategic alliances to increase their market share. These companies employ tactics such as partnerships and collaborations to strengthen their market position.
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Further insights into Flat Glass market report
According to the latest FMI reports, based on region, Asia Pacific will provide significant growth opportunities for Flat Glass Market between 2022-2032. Due to the fact that a large part of the flat glass consumption comes from ASEAN countries, China, Japan and many others, this region is expected to take a large share of the global flat glass market. The infrastructural growth in this region will also promote the growth of the target market in this period under review.
In North America, the flat glass market will expand at high growth rates due to the increase in privately owned housing construction in the United States. Thus, North America and Asia-Pacific are two of the regions that are likely to offer various lucrative opportunities for the flat glass market during the forecast period.
Key Segments in the Flat Glass Industry Survey Profile
- Tempered flat glass
- Laminated flat glass
- Coated flat glass
- Extra clear flat glass
- Mirrored flat glass
- Patterned flat glass
- Annealed flat glass
- Flat glass for silicones
- Flat glass for agricultural chemicals
- Flat glass for pharmaceuticals
- Flat glass for chemical intermediates
- Flat glass for body care
- Flat glass for other applications
- North America
- Western Europe
- Eastern Europe
- Latin America
- Middle East & Africa
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Table of Contents
1.1. Global Market Outlook
1.2. Demand-side trends
1.3. Supply-side trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Restrictions
Table of contents continued…!
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