What is the Size (Volume and Value) of Flat Glass Market in 2030?

Posted on 2022-06-29 by researchinsights in Chemicals // 0 Comments

San Francisco, California , USA, June 29, 2022 — /EPR Network/ —

Flat Glass Industry Overview

The global flat glass market size is expected to reach USD 400.38 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.3% during the forecast period. The market is projected to be driven by increasing construction spending and the need to improve energy efficiency in buildings. The rising preference for architecture, which increases natural daylight in the house is propelling the consumption of glass in roofs and facades, which is expected to play a key role in boosting the product demand over the coming years. Moreover, a growing emphasis on economic recovery by encouraging investments in infrastructural developments is anticipated to drive market growth over the forecast period.

For instance, to substantiate the economic importance of infrastructure, the Department of the Treasury in the U.S. carried out a study of 40 key proposed infrastructure projects. As per this study, the completion or availability of these 40 projects can provide economic benefits of up to USD 500 billion to 1 trillion to the country. Technological upgrades and product innovation in construction glass applications have positively benefited the market growth in the recent past. However, the market growth was obstructed in 2020 owing to the COVID-19 pandemic resulting in negative sales revenue of key companies.

Flat Glass Market Segmentation

Grand View Research has segmented the global flat glass market on the basis of product, application, and region:

Based on the Product Insights, the market is segmented into Basic, Tempered, Laminated, Insulated and Others.

The insulated product segment dominated the global market and held the largest volume share of more than 44.0% in 2021.
The Tempered glass is another key product type and is suitable for a wide range of applications in cookware, mobile phone screens, architectural parts, shower doors, and windows, among others. The growing demand for tempered products has augmented its production.

Based on the Application Insights, the market is segmented into Architectural, Automotive and Others.

The architectural application segment held the largest revenue share of more than 72.0% in 2021. The segment will expand further at a steady growth rate from 2022 to 2030 on account of the increasing construction activities and infrastructural developments as a result of the rapid urbanization and growing population across the globe.
In the automotive sector, the product has a wide scope of applications in vehicle windows, doors, windshields, side panels, sunroofs, and lights. However, the automotive application segment witnessed slow growth over the past couple of years owing to a decline in global vehicle production.

Flat Glass Regional Outlook

North America
Europe
Asia Pacific
Central & South America
Middle East & Africa (MEA)

Key Companies Profile

The market is highly competitive and fragmented owing to the presence of several major players. Companies are opting for various strategic initiatives to recover losses caused due to the pandemic and strengthen their market presence.

Some prominent players in the global Flat Glass market include

AGC Inc.
Euroglas
Guardian Industries
Nippon Sheet Glass Co., Ltd.
Saint-Gobain
ÅžiÅŸecam Group
Vitro

Order a free sample PDF of the Flat Glass Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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