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Architectural Flat Glass Market Size By Product (Laminated, Tempered, Basic Float, Insulating), By Sales Channel (Wholesalers, Online, Retailer), By Application (New Construction, Refurbishment, Interior Construction), By End-use (Residential, Non-Residential [Offices, Retail Spaces, Hospitality, Institutional {Healthcare Facilities, Educational Institutes, Transport Facilities, Entertainment Facilities}], Industrial [Manufacturing Facilities, Warehouses, Flex Space Buildings]), COVID-19 Impact Analysis Report, Regional Outlook Application Potential, Price Trends, Competitive Market Share & Forecast, 2023 – 2032
- Report ID: GMI5423
- Published Date: Jan 2023
- Report Format: PDF
Industry Statistics
Architectural Flat Glass Market size valued at USD 122 billion in 2022 and is poised to exhibit over 14.5% CAGR from 2023 to 2032. The healthy growth of the building & construction sector, supported by the commendable rise in demand for commercial and residential properties, will favor industry progression.
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The favorable economic outlook, coupled with the consistent expansion of the global population and escalating urban migration, has propelled the need for adequate housing and industrial facilities. According to United Nations (UN), 55% of the world population lives in cities and urban areas. The share is projected to reach 68%, with 2.5 billion more people living in urban areas by 2050. In addition, a noticeable surge in renovation, refurbishment, and retrofit projects has created optimistic scenarios for the global construction sector. Thus, driving substantial growth for the architectural flat glass market.
| Report Coverage | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | USD 122.60 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 14.7% |
| 2032 Value Projection: | USD 231.5 Billion |
| Historical Data for: | 2018 to 2021 |
| No. of Pages: | 731 |
| Tables, Charts & Figures: | 1,022 |
| Segments covered: | Product, Sales Channel, Application, End-user and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The involvement of high temperatures during glass manufacturing makes it a highly energy-consuming process and leads to high prices for the end product. Besides, glass materials are increasingly brittle, heat absorbent, have low impact resistance and heat transparency, and require high maintenance. All these factors, in tandem with the availability of several low-cost product alternatives, may impede the market growth. However, favorable regulatory norms and increasing emphasis on building smart and energy-efficient infrastructure will augment product sales.
Diverse application portfolio to bolster the demand for tempered flat glass
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Regarding the product, the architectural flat glass market size from the tempered tile segment accounted for USD 29 billion in 2022. A noticeable decline in the uptake of tempered glass products, such as building window glasses, automotive glasses, etc., during the pandemic owing to halted operations across the automotive and construction industries impacted segment growth. Similarly, the increasing product usage in architectural glass doors & tables, aquariums, mobile phone screen protectors, vehicle windows, and shower doors, etc., credited to its exceptional hardness, versatility, and optical distortion, will enhance tempered flat glass market performance.
Wide range of product availability to stimulate the expansion of wholesalers as a prominent sales channel
| Sales Channel | 2022 |
|---|---|
| Wholesalers | 43.5% |
| Online | 12.2% |
| Retailer | 44.2% |
| Total | 100% |
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The wholesalers segment of the architectural flat glass market crossed USD 53 billion in 2022. The availability of a varied range of products in bulk and at a reasonable price is one of the key factors aiding the proliferation of wholesalers as a lucrative revenue pocket. A wholesaler is a supply company that serves as a go-between for manufacturers and sellers. The increased utilization of wholesale channels by leading flat glass manufacturers when entering markets with a high payment risk and expanding into new target areas will further aid segment growth.
Increasing infrastructure investments to escalate the demand for flat glass in interior construction applications
The interior construction application segment of the architectural flat glass market is anticipated to witness around 5.5% growth rate between 2023 and 2032, on account of the remarkable surge in infrastructure development projects. Flat glass finds major applications in the interiors of residential or commercial buildings, including windows, glass stairs, floors, walkways, and doors owing to its ability to protect the establishment from external elements such as heat and dust. Due to its compatibility with smart & electrochromic glass applications, it is used in constructing smart cabins & boardrooms, further propelling product demand.
Proliferation of the commercial sector to increase the penetration of flat glass in non-residential constructions
In terms of end-user, the non-residential segment will record more than 6.5% gains through 2032, led by the extensive usage of flat glass in a number of non-residential construction applications, including offices, industrial, and healthcare. Flat glass boasts superior strength and durability and is highly sustainable and cost-effective, making it a preferred construction material for non-residential spaces. Thus, the rising demand for contemporary office space and the expanding non-residential building sector will boost market expansion.
Positive economic outlook to accelerate market expansion across the Asia Pacific
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Asia Pacific architectural flat glass market is estimated to grow at nearly 6% CAGR from 2023 to 2032. The construction of commercial infrastructure, including offices, schools, hotels, restaurants, and recreational facilities, backed by strong economic growth, will support regional expansion. Additionally, the implementation of a number of beneficial government policies and investments to improve housing infrastructure and provide housing for the most disadvantaged groups will drive regional business outlook.
Strengthening strategic bonds to stimulate the competitive landscape
AGC Inc, Vitro Architectural Glass, Guardian Glass LLC, Dillmeier Glass Company, Saint Gobain North America, Syracuse Glass Company, Trulite Glass and Aluminum Solutions, Cardinal Glass Industries, Corning Incorporated, Schott AG, Paragon Tempered Glass, LLC are some of the major key players operating in the architectural flat glass market. These participants are focusing on upping their strategic game to gain a competitive edge over their counterparts.
To cite an instance, in January 2023, AGC Inc., a glass manufacturing giant (formerly Asahi Glass Co. Ltd.), and SYP Group (Shanghai Yaohua Pilkington Glass Group Co. Ltd.) inked an agreement. As per the contract, AGC will transfer its ownership stake in AGC Flat Glass (Dalian) Inc. to SYP Group for a purchase price of ¥5.8 billion (about $43.8 million).
Effect of COVID-19 on the business trends
The architectural flat glass business suffered a significant setback due to the COVID-19 pandemic, especially during the first half of 2020. This can be attributed to halted industrial operations, broken value chains, and labor shortages which resulted in delays and cancellation of several construction projects. Moreover, the diversion of government funds towards the healthcare sector to mitigate the viral outbreak further worsened the crisis. Furthermore, an unprecedented economic slowdown and declining expenditure on renovation projects further downsized the demand for architectural flat glass, impacting the overall market dynamics.
This architectural flat glass market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons, Million. Sqr. Mtrs. and revenue in USD Million from 2018 to 2032 for the following segments:
By Product
- Laminated
- Tempered
- Basic Float
- Insulating
- Decorative
- Reflective
- Prism & Low-Emissivity Glass
By Sales Channel
- Wholesalers
- Online
- Retailer
By Application
- New Construction
- Refurbishment
- Interior Construction
By Application
- Residential
- Non-Residential
- Offices
- Retail Spaces
- Hospitality
- Institutional
- Healthcare Facilities
- Educational Institutes
- Transport Facilities
- Entertainment Facilities
- Others
- Industrial
- Manufacturing Facilities
- Warehouses
- Flex Space Buildings
The above information is provided on a regional and country basis for the following:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Malaysia
- Latin America
- Brazil
- Argentina
- Chile
- Colombia
- Peru
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa