The Global flat glass market was
valued at USD 71.98 billion in 2014 and is expected to witness growth
over the next seven years owing to the increasing demand for insulation
from the construction sector. Growing demand for engineered glass in
buildings, especially for use in windshields, transparent walls, and
windows, is expected to drive the global market over the forecast
period.
Global
insulating glass demand was 9,883.9 kilo tons in 2014. China has been
taking efforts for energy saving, thus creating major investments in
manufacturing capabilities as well as raw material supply of the
product. However, lack of awareness regarding the benefits of the
product particularly in Latin America is likely to restrict its market
over the next seven years.
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Flat
glass was the second largest product segment of the glass market
accounting for over 30% of the total demand in 2013. Growth of the
industry coupled with growing flat glass demand in buildings &
architecture and automotive segments is estimated to have a positive
impact on market growth over the forecast period. The global glass
industry is estimated to grow at a CAGR of over 3% from 2014 to 2020
Construction
dominated the global market accounting for 81.1% of the global market
in terms of demand in 2014. Increasing project sanctions and
construction of green buildings in the U.S., Canada, the UK, Australia,
China, and India are anticipated to drive growth. Growing awareness
towards LEED-certified buildings has been another significant factor
responsible for surge in the demand over the past few years.
Demand
for tempered product was 20,375.2 kilo tons in 2014 and is expected to
gain share over the forecast period. Increasing construction activities
particularly in developing regions including Africa and Middle East
coupled with enhanced properties of tempered glass is likely to propel
its market over the next seven years.
Asia
Pacific was the largest consumer with major demand centered towards
China, which accounted for over 60.3% of the global demand. Increasing
demand for solar trackers and PV panels coupled with rising
infrastructure spending is expected to result in an escalated growth of
the product in Asia Pacific over the next few years.
Major
companies operating in this market include AIS, NSG Group,
Saint-Gobain, PPG Industries, Xinyi Auto, CSG Architectural, Corning
Inc, Central Glass, Schott AG, Sisecam Asahi India Glass and AGC. The
market is characterized by mergers & acquisitions to gain a edge
over their competitors. For instance, in April 2015, AGC acquired
NordGlass, an automotive replacement glass manufacturer in Poland in
order to strengthen its market share in Europe. In May 2015,
Saint-Gobain acquired ZenPure, a filtration product specialist.
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
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