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The global Flat Glass market size is expected to be worth around US$ 452.00 billion by 2030, according to a new report by Vision Research Reports.

The global Flat Glass market size was valued at US$ 285.85 billion in 2020 and is anticipated to grow at a CAGR of 3.10% during forecast period 2021 to 2030.

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Flat Glass Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030 – Breakdown Data by Regions, Type, Manufacturers and Applications

Growth Factors

The market is projected to be driven by increasing construction spending and the need to improve energy efficiency in buildings.

Rising preference for architecture, which increases natural daylight in the house is propelling the consumption of in roofs and , which is expected to play a key role in boosting the product demand over the coming years. Moreover, 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. For example, Saint-Gobain’s sales declined by around 6% from Q3 2019 to Q3 2020. The pandemic slowed down the customers’ investment cycles, which affected all the related activities.

The market is anticipated to recover soon with investments across the solar, construction, and automotive industries. The growth in the end-use industries has compelled product manufacturers to expand their production capacities. For instance, in October 2020, Şişecam invested in its production business in Turkey for capacity expansion to cater to the growing demand from the domestic market.

Report Highlights

The insulated product segment dominated the global market, in terms of volume, and held the largest share of more than 44.0% in 2020. The demand from applications, such as curtain walls, storefronts, overhead glazing, non-vision locations, and commercial and operable windows, is likely to remain a key factor driving the segment growth. The growing demand has compelled manufacturers to expand their production capacities. For example, in February 2020, Pilkington IGP, expressed interest in expanding its manufacturing plant in Ostroleka, Poland, to cater to the growing demand for highly specialized products in architectural and construction markets.

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. For instance, in August 2020, Tomakk Glass Partners announced the launch of its tempered glass fabrication facility in Shreveport, Louisiana, the U.S. to cater to the rising demand from the commercial, residential, and architectural application segments.

The laminated product segment is mainly driven by the rising demand for laminated glass in the automotive industry. It is preferred in windshields as, in case of an accident, it breaks in form of a spider-web and none of the pieces fall off, thus, reducing the risk of passenger injuries. This has augmented its usage in sunroofs too. Companies, such as Ferrari and Volvo, have incorporated laminated glass in their cars with panoramic sunroofs. It is also used in skylight glazing and Photovoltaic (PV) cells.

The architectural application segment held the largest revenue share of more than 72% in 2020. The segment will expand further at a steady CAGR from 2021 to 2028 due to increasing construction activities and infrastructural developments as a result of rapid urbanization and a growing population across the globe. Thus, the growing construction industry is estimated to benefit the product demand.

In the automotive sector, the product finds applications in vehicle windows, doors, windshields, side panels, sunroofs, and lights. The automotive application segment witnessed slow growth over the past couple of years owing to a decline in global vehicle production. However, increasing demand for Electric Vehicles (EVs), along with rising cases of road accidents, is anticipated to propel product consumption in automotive applications.

The other applications segment is anticipated to register the fastest growth rate over the forecast period on account of rising demand for solar energy. Glass is a key component in solar panels as it protects the PV cells from external forces, such as weather, hail, and airborne debris. Rising solar energy installations across the globe are expected to benefit market growth. Despite the pandemic, the solar PV installations observed a positive growth in 2020.

Asia Pacific dominated the market and accounted for over 61.0% share of the global revenue in 2020. Infrastructural developments in developing economies of the region are expected to augment market growth over the forecast period. Southeast Asia is also among the emerging regional markets and countries including China and Japan have started investing in this region. Between 2000 and 2019, Japan financed around USD 230 billion worth of projects while China invested around USD 155 billion for the improvement of infrastructure in the Southeast Asia region.

North America faced obstructions in its construction activities, especially in the first half of 2020; however, the market in the U.S. witnessed moderate recovery in the second half of 2020 on account of acceleration in residential construction activities. For instance, as per the U.S. Census Bureau, the completion of new privately-owned housing units rose by 6.7% from 2019 to 2020 in Southern U.S. This upward trend is likely to continue over the coming years, which is expected to propel the product demand in the coming years.

Middle East and Africa is expected to be among the fastest-growing regions of the market. However, the region witnessed sluggish growth in 2020 owing to the pandemic. On the other hand, the regional market is expected to recover quickly. For instance, in December 2020, a Dubai-based investment bank allocated a sum of USD 1 billion to finance the active construction projects across the Middle East and Africa. This is a positive sign for the overall market in the region.

Key Players

• AGC Inc.
• Cevital Group
• Euroglas
• Guardian Industries
• Saint-Gobain
• Şişecam Group
• Vitro

Market Segmentation

• Product Outlook
  • Basic
  • Tempered
  • Laminated
  • Insulated
  • Others
• Application Outlook
  • Architectural
  • Automotive
  • Others
• Regional Outlook
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia
    • Belgium
    • Poland
    • Czech Republic
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
  • Central & South America
    • Brazil
    • Argentina
    • Colombia
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Iran
    • South Africa

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market

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