Flat Glass Market Is Projected To Be Around $132.52 Billion By 2022
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A research study titled, “Flat Glass Market by Product and Application - Global Industry Analysis and Forecast to 2022” published by Crystal Market Research, states that the Flat Glass Market is projected to be around $132.52 billion by 2022.
The global Flat Glass market was worth USD 63.41 billion in the year of 2012 and is expected to reach approximately USD 132.52 billion by 2022, while registering itself at a compound annual growth rate (CAGR) of 6.86% during the forecast period. Flat glass is a sort of glass, at first composed in plane shape, usually utilized for windscreens, transparent walls, glass doors, and windows. For contemporary automotive and architectural applications, the flat glass is bowed sometimes post production of the plane sheet. Flat glass stands as opposed to holder glass utilized for cups, bottles, cups and glass fiber utilized for thermal insulation, in fiberglass composites, and optical correspondence. Glass for flat glass has a higher content of sodium oxide and magnesium oxide in comparison to holder glass, and a lower content of aluminum oxide, calcium oxide and silica.
The flat glass market has witnessed significant growth in the recent years due to its broad utilization in a number of applications and is anticipated to encounter substantial development in the upcoming years. Rapid industrialization with expanding expenditure by emerging countries will boost the worldwide flat glass market share in close terms. Decisive viewpoint towards automotive industry along with an expansion in utilization of safety glass in windows is anticipated to spur the flat glass market estimate in future. Stringent regulations towards automotive and construction industry may positively affect the flat glass market during the forecast period. Furthermore, various applications include kitchen utensils, windows, phones and doors. Laminated item is foreseen to reflect significant development in the upcoming years.
On the basis of product the global flat glass market is segmented into Laminated Glass, Tempered Glass, Insulating Glass and Basic Float Glass. On the basis of application the market is segmented into construction and automotive. The major players in the market are Oldcastle Building Envelope, PPG Industries, SCHOTT Glass India Pvt. Ltd., Sisecam, Scheuten Glas Nederland B.V, CSG Architectural, Xiny Auto and Corning. Geographically, the market is segmented into Europe, Asia Pacific, North America and Rest of the world.
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Key findings of the flat glass market
- Expanding construction exercises especially in emerging locales including Middle East and Africa combined with improved properties of tempered glass is anticipated to boost its market throughout the following years.
- Asia Pacific was the biggest consumer with significant request focused towards China, which represented more than 60.3 percent of the worldwide requirement. Expanding interest for sun oriented trackers and PV panels combined with rising infrastructure expenditure is relied upon to bring about a raised development of the item in Asia Pacific throughout the following couple of years.
- Construction ruled the worldwide market representing 81.1 percent of the worldwide market on the basis of demand in 2014. Expanding venture authorizations and development of green structures in the United Kingdom, the United States, Canada, Australia, China, and India are expected to drive development. Rising awareness towards LEED-certified structures has been another critical figure in charge of surge the request in the course of recent years.