Global Flat Glass Market Outlook to 2025 - Increase in Global Solar Capacity & Growth in the Building & Construction Industry Drive the Flat Glass Market

DUBLIN, Dec. 12, 2019 /PRNewswire/ -- The "Flat Glass Market Size, Share & Trends Analysis Report By Application (Architectural, Automotive), By Product (Tempered, Laminated, Basic, Insulated), By Region, And Segment Forecasts, 2019 - 2025" report has been added to ResearchAndMarkets.com's offering.

The global flat glass market size is expected to reach USD 288.56 billion by 2025 growing at a CAGR of 10.3%, according to this report. The growing popularity of safety glass, growth in construction industry, and increasing demand for solar power are anticipated to augment the growth of the market through the forecast period.

The growth of the flat glass industry is attributable to the increasing infrastructural development across the globe. The construction industry is growing significantly, especially in developing countries. Flat glass is used for both interior and exterior architectural purposes. Its usage is evident in windows, doors, railings, skylights, and furniture. Considering the negative impact of existing construction materials on health and environment, its consumption is increasing as a building material.

The accelerating growth in terms of solar power adaption in various parts of the world is boosting the product demand. The solar panels, which are made up of glass, are of major significance as their performance influences the yield of the entire system. Thus, the increase in solar panel production has a positive impact on the product demand.

In terms of revenue, laminated segment is anticipated to grow at a CAGR of 9.1% during the forecast period. Its demand as a safety glass is propelling the market. There are regions that witness extreme weather conditions, where its usage becomes prominent. Its two-three layer structure absorbs strong impacts and prevents breakage and injuries to a larger extent.

The U.S. market is anticipated to witness a CAGR of 10.4%, owing to infrastructural development coupled with increasing growth in solar panel production. High import duties levied by the government are compelling the manufacturers to open and expand glass manufacturing plants in the U.S. For example, in October 2018, the Nippon Sheet Glass Co., Ltd. announced its new 500,000 square feet glass production facility located at Ohio.

The flat glass market witnesses high competitive rivalry, owing to presence of major players of the industry such as AGC Inc., Saint-Gobain, Nippon Sheet Glass Co. Ltd., Guardian Industries and iecam Group. Increasing production capacities and innovation in products are the major strategies adopted by the key players in the market. For example, in June 2018, Sisecam Group acquired Sangalli Vetro Manfredonia facility, with an aim to increase its production capacity in Italy.