Float Glass Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Netherlands, China, India, Japan, Australia & New Zealand, South Korea, Brazil, Mexico, Argentina, UAE, South Africa), Growth Potential, Competitive Market Share & Forecast, 2019 – 2025
Report ID: GMI3557
Float Glass Market size is slated to gain significantly in the next 6-7 years driven by rapidly growing building and construction industry in the Asia Pacific region. In the construction industry it is used as a transparent glazing material in the building envelope, including windows in the external walls. Float glass is also used for internal partitions and as an architectural feature. Major developments happening in the region such as One Belt One Road (OBOR) likely to fuel the construction industry growth in near future.
According to Morgan Stanley, China will invest USD 1.2-1.3 trillion in OBOR by 2027. In addition, increasing urbanization in the region will fuel the construction industry growth over the forecast timespan. Increasing float glass usage in solar panels will have positive impact on float glass market demand over the forecast timespan. Increasing environmental awareness and regulations will drive the renewable energy market in coming years. According to Solar Energy Industries Association (SEIA), solar energy industry is growing with a CAGR of 50% for past few years and expected to witness high growth during the forecast timespan. This enormous growth in the solar industry likely to fuel the float glass market share in next few years.
Automotive was another major end-user of float glass in 2018 and anticipated to grow with a healthy CAGR over the forecast period. In automotive industry it used for installations in the side, roof, window panels, etc. Automotive industry has revived from the economic crisis in 2008, its unit production increased from 61.7 million in 2009 to USD 95.6 million in 2018. This significant growth in automotive industry shall help float glass market to grow further in coming years.
However, strict regulations and norms regarding float glass usage in construction and automotive industry are likely to restrict product demand over the forecast period. Rating systems or norms such as Leadership in Energy and Environmental Design (LEED) are regulating the glass usage in construction industry to build greener and more sustainable buildings. Moreover, increasing usage of plastic substitutes owing to lower price and availability will have negative impact on float glass market over the forecast period.
Clear float glass accounted for the major market share in 2018 and expected to remain the largest product segment over the forecast period owing to its transparency and properties such as transmission of 90% of the sunlight. Patterned glass demand is forecast to grow with significant CAGR over the forecast timespan. It provides privacy by obstruction the visibility due to which extensively used exterior and bathroom windows.
Building & construction was the largest end-user segment and likely to remain the largest over the forecast timespan. Exponential size and healthy growth of in the construction industry were the major attributed behind it. According to the Oxford Economics global construction industry will reach to USD 15.5 trillion by 2030. China, India and U.S. will account for the 57% share in global construction market. India will provide the growth engine to global construction industry by growing twice as fast as China. According to the studies conducted by Oxford Economics, global construction industry is projected to grow with a CAGR nearly 4% until 2030. The healthy growth in the construction industry will have positive impact on the float glass market.
Float glass demand is Asia Pacific is anticipated to grow with a highest CAGR during the forecast timespan, 2019 – 2025. This can be attributed to the high growth in end-use industries in the region. According OICA more than 60% global automotive are manufactured in the Asia Pacific. China and India were driving the regional market from past few years. In addition, building & construction industry in the region is growing with a rapid CAGR due to the increasing urbanization and industrialization in the region. Moreover, countries in the region such as China, India, Bangladesh are investing heavily on the infrastructure, which in turn will drive the float glass market over the forecast period.
Many multinational giants and local manufacturers are operating in the float glass market. Some major manufacturers working in the industry includes, Saint Gobain, Xinyi Auto; Corning Inc.; Asahi India Glass, CSG Architectural; Guardian Industries, Central Glass; NSG Group, Schott AG; Sisecam; AJJ Ltd., Cardinal, PPG Industries, Independent Co., OldCastle and AGC. Float glass market is highly diversified with the presence of many local and mid-scale manufacturers.
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