Float Glass Market size is poised to expand at a CAGR of around 5% between 2022 and 2028. This rise is primarily attributed to the increasing product usage in modern architecture, both in domestic as well as commercial buildings. Rising advancements in float glass manufacturing including ultra-thin float glass have been instrumental in driving product application in the field of electronics and technology. The products are also used in display cases in retail countertops and outlets considering their hardness, transparency, and ease of cleaning.
On the basis of type, the float glass market is set to capture considerable revenue from the tinted glass segment through 2028 driven by the benefits of aesthetics as well as performance. The glass is used in improving the appearance of a building façade further enhancing its solar performance. In addition, tinted glass is reflective and distinctive and can be utilized for forming a curtainwall. The product is predominantly used in offices, commercial applications, and other large facilities.
Considering the end-use, float glass finds increasing application across the building and construction sector. The segment is anticipated to register substantial growth over the estimated period owing to surging product application in smaller windows in domestic housing and in larger windows that are produced from toughened glasses. The material allows the construction of structures by giving the impression of being outside with the advantage of being inside and protected from elements other than the sun. Glass also plays an escalating role in buildings where it provides an easy to maintain and attractive exterior surface.
Based on region, Asia Pacific float glass market size is expected to record lucrative growth by 2028. This is primarily on account of surging investment initiatives by major market players in the region. For instance, in May 2021, Saint Gobain has proposed an investment of INR 1,100 crore in the state of Rajasthan, leading to the generation of more than 300 direct job opportunities in the state. This expansion will lead to the development of Asia’s largest float line in the state.
Citing another instance, in May 2020, Kazhakhstan shared an update regarding the completion of its Orda glass plant that has been and designed for the production of around 200,000 tons of world-class float glasses per year. The plant has been contracted by China Triumph International Engineering Co., Ltd.
The competitive landscape across the float glass market comprises Corning Inc., Asahi India Glass, Schott AG, Saint Gobain, Cardinal, Sisecam, AGC, Xinyi Auto, NSG Group, AJJ Ltd., OldCastle, CSG Architectural, Guardian Industries, and others. These companies are focused on the adoption of tactics such as mergers, acquisitions, and product launches for consolidating their position in the market.
For instance, in September 2021, AGC Glass Europe inaugurated the renovated float glass production line in Bor, Russia. The line was shut down for carrying out a cold repair and was upgraded with new technologies, further improving its performances in terms of quality, safety, productivity, environment, and energy consumption.
The SARS-CoV-2 pandemic impacted the float glass industry through fall in imports and an increase in freight costs by three to four times. This has discouraged new glass processors who were willing to break in and start processing units. The situation has become problematic for new entrants given that there is a shortage of raw material in a few countries like India for keeping their units running as glass is the basic raw material required in float glass manufacturing processes.