The worldwide flat glass market is predicted to attain a size of about USD 124 billion by 2022. Augmented awarenessabout the advantages of flat glass in the sector of construction is projected to steer the sales of the market. These advantages includesafety and energy savings. Advantages like these augur well for the market and are likely to propel it ahead through the forecast phase. Advancements in flat glass products and rising usage of low-e and smart glasses in various parts of the world are also anticipated to drive the demand for the flat glass market.
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The market is projected to experience expansion in coming years. This is due to growing demand for insulation in the sector of construction. Moreover, boosting awareness with respect to the significance of tempered glass in the industry of automotives is also likely to increase the demand for the flat glass market through the forecast phase. The intensified usage of insulating glass and laminated glass in applications concerning solar energy is estimated to improve market reliability.
Amplified construction operations in relation to forthcoming and restoration projects in different geographies of the worldwide flat glass market are also predicted to raise the demand for flat glass. Also, magnified awareness regarding hard wearing construction materialsis projected to enhance the demand for the market. Augmenting engineering and architectural inclination towards the growing usage of flat glass in construction facades is also likely to positively affect the flat glass market.
The expanding industry of automobiles, specifically in the region of Asia Pacific, is likely to propel further demand for the flat glass market in the seven years ahead. The worldwide market has experienced expansion owing to the rising usage of flat glass in original equipment manufacturing in the thriving sector of automotives. The fast developing energy market is estimated to act as a growth prospect for the flat glass market during the forecast phase.
The escalating usage of flat glass in solar panels, photovoltaic modules and e-glass on account of increased demand for clean energy also drives major demand for the market. The flat glass market is segmented in view of three categories. These are products, applications and regions.
The various products of the flat glass market include non-fabricated products and fabricated products. Non-fabricated products are inclusive of basic glass generated from the standard float procedure. Fabricated products contain insulating, laminated, tempered and others.
Construction was the biggest application sector. It is expected to show likewise trends in the seven years to come. Speedy urbanization, in combination with the middle class’srising disposable earnings is anticipated to boost the usage of smart glass in the sector of architecture during the forecast phase. The flat glass market is also expected to notice significant growth in the application sector of automotives in the future.
Asia Pacific was the leading flat glass market in 2014. It captured nearly 50 percent of the entire share. The regions of Europe and North America are comparatively well-established. They are known by new product innovations and augmented fondness for laminated products.
Information Source: Grand View Research