Booming Construction Sector Signals Massive Growth in Flat Glass Market, Overall Sales to Exceed US$ 445 Bn by 2032

The global flat glass market registered a market valuation of US$ 274 Bn in 2021, and is projected to reach US$ 445 Bn by the end of 2032. The overall demand in the flat glass market is estimated to surge at a CAGR of 4.5% during the forecast period (2022- 2032).

As per the study, the sales in the global flat glass market is expected to exceed a valuation of US$ 286.33 Bn by 2022 owing to the increasing standard of living and investments in the construction sector. Additionally, growing adoption of glass architecture in residential and non-residential constructions is expected to boost the market.

Further, growing demand for appealing interiors and luxury construction is likely to benefit the flat glass market. For instance, in September 2021, Greystar Real Estate Partners, LLC collaborated with CPP Investments and Cyrela to form the Brazilian Multifamily Property Sector in So Paulo. Such initiatives are anticipated to boost the flat glass market in the coming years.

Growing demand for solar energy owing to the low installation cost and rising environmental concern is underpinning the demand for flat glass. This, in turn, will propel the sales in the flat glass market.

Besides this, rising building architectural developments coupled with technological innovations will drive the demand for flat glass during the forecast period. Subsequently, rapid industrialization and urbanization across China, India, Brazil and the UAE will accelerate the growth in the market.

The product has a variety of applications in the automotive industry, including windows, doors, automotive windshields, side panels and sunroofs.

Fact.MR estimates, implementation of government regulations to improve energy efficiency and smart glass technology is likely to create growth opportunities for the flat glass market players.

For instance, as per the U.S. Census Bureau, there was 6.7% rise in the number of privately-owned housing units in the Southern U.S. in the last year. This trend is likely to continue in the coming years, fueling the demand for flat glass.

Key Takeaways:

• Based on product, the insulated flat glass segment is estimated to hold more than 45% of the market share in 2022.

• In terms of end-user, the building & construction segment is estimated to reach US$ 85 Bn by 2032.

• Asia Pacific flat glass market is anticipated to hold more than 62% of the global market share in 2022.

• Sales of flat glass in North America are expected to increase at a CAGR of 5% during the forecast period.

• Based on application, the architectural segment is expected to account for more than 73% of the overall market share.

Growth Drivers:

• Advancements in construction activities and infrastructural developments on the back of rapid urbanization is projected to propel the sales in the market.

• Growing demand for luxury spaces and construction of spacious buildings is expected to drive the demand for flat glass in the coming years.

Competitive Landscape:

Presence of numerous leading players in the market is resulting in severe competition in the market. To gain competitive edge, leading players are collaborating with e-commerce giants and leading end users.

Meanwhile, some of the players are adopting inorganic growth strategies such as joint ventures, partnerships, and collaboration to expand their product portfolio and strengthen their global presence.

For instance,

• September 2020: Guardian Glass introduced its second float glass firm in Poland. The firm is projected to help the architect and construction markets gain access to high-performance products.

• October 2020: During the fourth quarter of the fiscal year ending December 31, 2021, AGC Inc. integrated the Architectural Glass Business in Japan with Central Glass Co.

Key Companies Profiled by Fact.MR

• AGC Inc.

• Central Glass Ltd.

• Capital Group

• China Glass Holding Ltd.

• Euroglas

• Fuyao Glass Industry Group Co. Ltd.

• Guardian Industries

• Nippon Sheet Glass Co. Ltd.

• Saint-Gobain

• iEcam Group

More Valuable Insights on Flat Glass Market

Fact.MR, in its report, offers a market analysis on the global flat glass market provides unbiased analysis for the forecast period of 2022 to 2032. This survey also reveals the growth trajectory of the flat glass market on the basis of:

By Product:

• Insulated Flat Glass

• Laminated Flat Glass

• Tempered Flat Glass

• Basic Flat Glass

• Other Flat Glass Products

By Application:

• Automotive Flat Glass

• Architectural Flat Glass

• Other Flat Glass Applications

By Region:

• North America

• Latin America

• Europe

• Asia Pacific

• Middle East & Africa