Flat Glass Market Size, Growth, Trends Analysis, Sales, Revenue and Forecast 2020-2027

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The Flat Glass market is expected to grow on account of increasing product demand from the global construction sector. The global Flat Glass market size is expected to be worth around US$ 202.8 billion by 2027, according to a new report by Vision Research Reports.

The global Flat Glass market size was valued at US$ 115.7 billion in 2019 and is anticipated to grow at a CAGR of 7.4% during forecast period 2020 to 2027.

The architectural segment held the major share of the market in 2019 and this trend is anticipated to continue over the forecast period. The product is extensively used in the architecture industry in applications such as windows, partitions, and facades. The product is currently witnessing massive penetration in facades of commercial buildings owing to its aesthetic appeal.

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The global demand for the product is largely driven by the growth of the construction industry, which also accounts for the largest consumption in terms of volume. However, since the past few years, rapid penetration of solar power in various parts of the world has played a major role in triggering industry growth.

Asia Pacific dominated the market in 2019, in volume terms with a share of 62.5%. The region accounts for the largest share in the global construction industry, with China being the leader. Besides China, India, Indonesia, and Malaysia are predicted to experience considerable growth in the construction industry, thereby fostering market growth in the region.

Besides Asia, Middle East and Africa is also predicted to witness considerable growth owing to an encouraging paradigm shift in their construction sector. Saudi Arabia and UAE are the key players leading the construction spending of the region. Recent trend indicates that Saudi Arabia and UAE governments are shifting their focus from the oil and gas industry to the development of more diversified economy with implementation of various construction projects related to tourism, infrastructure, residential, and commercial buildings. This is expected to provide a lucrative platform for market growth.

Report Highlights

In terms of volume, tempered flat glass dominated the market with a share of 28.8% in 2019. This high share is attributable to the wider availability of different types of the product including clear float, extra white, heat reflective, and tinted varieties. It offers high-temperature resistance and mechanical strength. The segment is witnessing rapid growth in Asia Pacific and Middle East and Africa owing to rising investments in construction activities.

The basic segment held the least share in the flat glass market; however, its importance is significant as the product is further processed and used in end-use applications in different forms. In terms of revenue, the segment held a meager share of 8.2% in 2019, however, in terms of volume, it constituted a share of 23.5% in the same year.

Architectural application acquired the largest volume share of 80.01% in the market for flat glass in 2019. Increasing urban population and rising disposable income of the global population are the factors significantly propelling the growth of infrastructural developments and construction activities across the globe. This is predicted to play a key role in driving the segment over the coming years.

Other applications include solar, electronics equipment, and displays. From these aforementioned applications, solar flat glass is likely to note the fastest growth over the next few years. Global governments are increasingly adopting renewable technologies like solar power in order to reduce their dependence on fossil fuel and reduce carbon emissions.

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Asia Pacific is expected to exhibit a CAGR of 7.2% in terms of volume from 2020 to 2027. The region is set to experience construction and infrastructure boom in the coming years with healthy dose of construction projects spread between residential, non-residential, industrial, and infrastructural categories. Moreover, India’s construction sector is likely to outpace other countries in the region and thereby driving the market for flat glass at the fastest rate.

North America garnered a revenue share of 17.8% in 2019. The construction industry in North America has witnessed recovery from the economic recession of 2009 and 2010, leading to an uptick in housing projects and boosting residential and non-residential construction spending. This has resulted in improved demand for the product.

Key Players

AGC, Inc.; Saint-Gobain; Guardian Industries; and Şişecam Group are among

Market Segmentation

  • Product Outlook 
    • Basic
    • Tempered
    • Laminated
    • Insulated
    • Others
  • Application Outlook 
    • Architectural
    • Automotive & transportation
    • Others
  • Regional Outlook 
    • North America
      • U.S.
    • Europe
      • Germany
      • U.K.
    • Asia Pacific
      • China
      • India
    • Central & South America
      • Brazil
    • Middle East & Africa

In this study, the years considered to estimate the market size of Flat Glass are as follows:

  • Historic Year: 2016-2019
  • Base Year: 2020
  • Forecast Year 2020 to 2027

Reasons to Purchase this Report:

– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Buy this premium research report, click here@ https://www.visionresearchreports.com/report/cart/36195 OR Call: +1 9197 992 333

Steve Robber

My name is Steve Robber, I’m the Owner of Market Stats News. Steve has served in many positions at various organizations for the past seven years. Currently he is an Author at Finance.Yahoo. Contact us for a free news publication, we look forward to speaking with you!

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