(MENAFN- Ameliorate Digital Consultancy)
The global Float Glass market is estimated to reach USD 70 billion by 2027 at a CAGR of 5% during the forecast period 2021-2027.
float glass market
The global Float Glass market is estimated to reach USD 70 billion by 2027 at a CAGR of 5% during the forecast period 2021-2027. Float glass accounts for approximately 50-60% of all flat glass produced worldwide.
The increasing demand for energy-efficient buildings and the rise of the construction industry are driving the growth of the float glass market. Additionally, the increasing use of float glass in the automotive industry and consumer electronics is also contributing to market growth.
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Float glass is used in various applications such as automotive windshields & windows; interior & exterior building facades; solar energy equipment; home appliances; furniture; lighting fixtures; tableware; decorative accessories and more. The major factors driving growth in the Float Glass market are rapid urbanization coupled with rising disposable incomes across emerging economies, increased construction activities such as office buildings, shopping malls, hospitals etc., growing demand from architectural glazing projects , rising usage in greenhouses and agricultural settingsetc., technological advancements leading to new applications for float glass and government initiatives promoting solar energy utilization amongst households across several countries.
Key Players-
Saint-Gobain S.A. Central Glass Co. Ltd. AGC Inc. Nippon Sheet Glass Co., Ltd Carlex Glass America, LLC GUARDIAN INDUSTRIES Taiwan Glass Group, Ltd ?i?ecam Group Qingdao REXI Industries Co., Ltd. Emirates Float Glass LLC Arabian United Float Glass Company Xinyi Glass Holding Ltd. Vitro, S.A.B. de C.V. Fuyao Glass Industry Group Co. Ltd
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Float Glass Market Segmentation:
The float glass market can be segmented based on product type, application, and region.
Float Glass Market Based on product type , the market can be segmented into clear float glass, tinted float glass, low-e float glass, and others.
Float Glass Market Based on applicatio n, the market can be segmented into construction, automotive, consumer electronics, and others.
Geographically , the market can be segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
Regional Analysis:
The Asia-Pacific region is expected to dominate the float glass market due to the presence of major economies such as China, India, and Japan and the increasing demand for construction and consumer electronics products in the region. North America is also expected to show significant growth due to the presence of major players in the automotive and construction industries.
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Key Takeaways
End-use industry players such as building and construction seek more sustainable products to develop new creative structures in line with the industry standards as well as government rules and regulations. Clear type float glass is expected to be highly preferred over other categories such as tinted and wired, given its low installation cost. New float glass is equipped with adequate energy-efficient glazing technologies, offering insulation against the cold and avoiding over-heating in hot and warm conditions. This new glazing technology is a key factor that will positively impact the growth of the global float glass market. Rising need to curb emission levels is likely to drive solar PV glass usage in the solar power sector, along with the automobile sector. East Asia is projected to be a prominent regional market for float glass owing to the growing construction, automotive, and solar sectors, especially in China. Moreover, growing government tie-ups with private organizations to initiate multiple new solar power projects in Thailand and India are anticipated to amplify the demand for float glass in South Asia. Top manufacturers are recycling base glass for manufacturing new float glass, which will result into minimized usage of raw materials. It will also lead to reduced carbon dioxide emissions into the atmosphere and is expected to remain a prominent trend among float glass manufacturers.
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