Tempered flat glass market to exceed USD 40 billion by 2023
flat glass market size is driven by Positive outlook towards automotive industry along with an increase in usage of tempered glass in windows.
Tempered flat glass market size was the largest product segment and will exceed USD 40 billion by 2023. Passenger safety is a growing concern for automotive manufacturers and the industry stands to benefit immensely from it.
Flat Glass Market size is set to surpass USD 134 billion by 2023, as reported in the latest research by Global Market Insights, Inc.
Increasing adoption of glass in the construction and automobile industry will drive the global flat glass market size from 2016 to 2023. In addition, other notable applications include concentrated solar systems, photovoltaic cells, thermal collectors, windows and windshields.
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Flat glass market share from construction sector is predicted to witness growth over 6% during the forecast period. Glass manufacturers and fabricators must comply with FEMA regulations and use safety applications in construction sector. Tempered and basic float are applied both externally and internally to buildings which will positively drive the business growth. Tempered glass applications are set to exceed USD 35 billion by 2023 owing to large scale adoption in the renovated construction.
Lightweight and high strength properties are some of the features which may boost its adoption in construction industry. LEED standards govern the production processes of specialty products in the sector. Stringent regulations regarding passenger safety in automotive sector will drive the market by 2023. The EU’s Safety Glass Directive 92/22/EEC mandates glass manufacturers to adhere to specification laid down by the directive to ensure highest standards of passenger safety.
Flat glass market share will witness significant growth owing to attributes including noise control, self-cleaning, neutrality, fire protection and energy-saving. Raw materials including limestone, sand and soda ash, will witness demand supply deficit which may have adversely affect the industry landscape. Soda ash price variation coupled with its supply demand deficit may further hamper the business growth.
Browse key industry insights spread across 150 pages with 118 market data tables & 17 figures & charts from the report, “Flat Glass Market” in detail along with the table of contents:
North America flat glass market, led by the U.S. for 2015 was valued over USD 6 billion. Improved product line and increasing consumer awareness will stimulate regional growth. For Europe, flat glass Industry size will exceed USD 23 billion by 2023. Automobile sector was a key contributor to the industry with more than 12.5 million cars sold in 2015, as compared to 11.4 million in 2014. Laminated and tempered glass market is expected to witness consumption of over 1.1 million tons owing to growth in construction and refurbishment sector.
Latin America flat glass market, led by Argentina, Brazil and Chile will witness 7% CAGR by 2023. Increasing per capita income along with escalating automobile industry growth will boost the product demand. Insulated glass consumption exceeded 1 billion square meters in 2015 owing to wide adoption in airline windows to reduce heat transfer by glazing.
China flat glass Industry size will exceed USD 55 billion till 2023. Rising government spending on infrastructure coupled with growing automobile industry will boost industry growth. Construction regulations relating to energy efficiency will positively impact thermal insulation and solar control products.
Flat glass market share is competitive and fragmented. Asahi, Saint Gobain, CSG Architectural, NSG, Sisecam, Xiny Auto, Corning and Schott are top companies in industry. Other industry participants are PPG Industries, Astrocam, Syracuse, Dillmeier, and Cardinal.
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