Flat Glass Market Size, Share & Trends Report

Flat Glass Market Size, Share & Trends Analysis Report By Application (Architectural, Automotive), By Product (Insulated, Laminated, Tempered), By Region (APAC, Europe), And Segment Forecasts, 2021 - 2028

  • Published Date: Mar, 2021
  • Base Year for Estimate: 2020
  • Report ID: 978-1-68038-437-6
  • Format: Electronic (PDF)
  • Historical Data: 2017 - 2019
  • Number of Pages: 115

Report Overview

The global flat glass market size was valued at USD 265.85 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 3.6% from 2021 to 2028. Rising solar energy installations across the globe coupled with increasing penetration of glass architecture in residential and non-residential construction is anticipated to drive market growth over the forecast period. Factors, such as the depletion of renewable resources, advancements in technology, government regulations, environmental concerns, reductions in the cost of solar installations, and the growing electricity demand, are propelling solar capacities to increase, which is benefitting the flat glass market.

U.S. flat glass market size, by product, 2017 - 2028 (USD Billion)

The U.S. holds vital significance in the global market on account of increasing construction activities in the country coupled with rising demand for flat glass products in the automotive aftermarket. Although the outbreak of Covid-19 severely impacted the overall economy, construction activities were deemed as an essential service in many parts of the U.S. As a result, the country’s overall construction spending increased in 2020, which is an extremely positive aspect in the pandemic.

The building & construction industry is the major end-user sector. Various developments in architecture have augmented the product demand over the past few years. The product used in these applications provides various advantages, such as transmission, absorption, and refraction of light; weather resistance; rust resistance; dust resistance; efficiency in terms of cost and energy; better insulation; various color options; and flexibility to be drawn into any shape.

Rising disposable income coupled with growing preference for look & appeal in interiors has augmented the demand for luxury construction, which is anticipated to benefit the market growth. For example, in September 2020, Greystar Real Estate Partners, LLC joined CPP Investments and Cyrela in the development of the Brazilian Multifamily Property Sector in São Paulo. The investment marks Greystar’s entry into the burgeoning Brazilian rental housing market.

However, the global market was obstructed in 2020 owing to the pandemic that resulted in mandatory shutdowns in manufacturing operations, followed by strict norms compelling companies to work at minimal capacities, disrupting the demand-supply chain. The pandemic adversely affected the sales of various glass manufacturers. For example, Fuyao Glass Industry Group Co.’s U.S. subsidiary reported a net loss of 92.1 million yuan (~USD 13.4 million) in the first half of 2020.

Product Insights

The insulated product segment dominated the global market, in terms of volume, and held the largest share of more than 44.0% in 2020. The demand from applications, such as curtain walls, storefronts, overhead glazing, non-vision locations, and commercial and operable windows, is likely to remain a key factor driving the segment growth. The growing demand has compelled manufacturers to expand their production capacities. For example, in February 2020, Pilkington IGP, expressed interest in expanding its manufacturing plant in Ostroleka, Poland, to cater to the growing demand for highly specialized products in architectural and construction markets.

Tempered glass is another key product type and is suitable for a wide range of applications in cookware, mobile phone screens, architectural parts, shower doors, and windows, among others. The growing demand for tempered products has augmented its production. For instance, in August 2020, Tomakk Glass Partners announced the launch of its tempered glass fabrication facility in Shreveport, Louisiana, the U.S. to cater to the rising demand from the commercial, residential, and architectural application segments.

The laminated product segment is mainly driven by the rising demand for laminated glass in the automotive industry. It is preferred in windshields as, in case of an accident, it breaks in form of a spider-web and none of the pieces fall off, thus, reducing the risk of passenger injuries. This has augmented its usage in sunroofs too. Companies, such as Ferrari and Volvo, have incorporated laminated glass in their cars with panoramic sunroofs. It is also used in skylight glazing and Photovoltaic (PV) cells.

Application Insights

The architectural application segment held the largest revenue share of more than 72% in 2020. The segment will expand further at a steady CAGR from 2021 to 2028 due to increasing construction activities and infrastructural developments as a result of rapid urbanization and a growing population across the globe. Thus, the growing construction industry is estimated to benefit the product demand.

In the automotive sector, the product finds applications in vehicle windows, doors, windshields, side panels, sunroofs, and lights. The automotive application segment witnessed slow growth over the past couple of years owing to a decline in global vehicle production. However, increasing demand for Electric Vehicles (EVs), along with rising cases of road accidents, is anticipated to propel product consumption in automotive applications.

Global flat glass market share, by application, 2020 (%)

The other applications segment is anticipated to register the fastest growth rate over the forecast period on account of rising demand for solar energy. Glass is a key component in solar panels as it protects the PV cells from external forces, such as weather, hail, and airborne debris. Rising solar energy installations across the globe are expected to benefit market growth. Despite the pandemic, the solar PV installations observed a positive growth in 2020.

Regional Insights

Asia Pacific dominated the market and accounted for over 61.0% share of the global revenue in 2020. Infrastructural developments in developing economies of the region are expected to augment market growth over the forecast period. Southeast Asia is also among the emerging regional markets and countries including China and Japan have started investing in this region. Between 2000 and 2019, Japan financed around USD 230 billion worth of projects while China invested around USD 155 billion for the improvement of infrastructure in the Southeast Asia region.

North America faced obstructions in its construction activities, especially in the first half of 2020; however, the market in the U.S. witnessed moderate recovery in the second half of 2020 on account of acceleration in residential construction activities. For instance, as per the U.S. Census Bureau, the completion of new privately-owned housing units rose by 6.7% from 2019 to 2020 in Southern U.S. This upward trend is likely to continue over the coming years, which is expected to propel the product demand in the coming years.

Middle East and Africa is expected to be among the fastest-growing regions of the market. However, the region witnessed sluggish growth in 2020 owing to the pandemic. On the other hand, the regional market is expected to recover quickly. For instance, in December 2020, a Dubai-based investment bank allocated a sum of USD 1 billion to finance the active construction projects across the Middle East and Africa. This is a positive sign for the overall market in the region.

Key Companies & Market Share Insights

The market is highly competitive and fragmented owing to the presence of several major players. Companies are opting for various strategic initiatives to recover losses caused due to the pandemic and strengthen their market presence. For instance, in September 2020, Guardian Glass inaugurated its second float glass facility in Poland. The new facility aims at catering to the growing demand for high-performance products in architectural and construction markets. Some of the prominent players in the global flat glass market include:

  • AGC Inc.

  • Cevital Group

  • Euroglas

  • Guardian Industries

  • Saint-Gobain

  • Şişecam Group

  • Vitro

Flat Glass Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 272.30 billion

Revenue forecast in 2028

USD 352.00 billion

Growth Rate

CAGR of 3.6% from 2021 to 2028

Base year for estimation

2020

Historical data

2017 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million/billion, volume in kilotons, and CAGR from 2021 to 2028

Report coverage

Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Spain; Russia; Belgium; Poland; Czech Republic; China; India; Japan; Australia; Brazil; Argentina; Colombia; Saudi Arabia; UAE; Iran; South Africa

Key companies profiled

AGC Inc.; Cevital Group; Euroglas; Guardian Industries; Saint-Gobain; Şişecam Group; Vitro

Customization scope

Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global flat glass market report on the basis of product, application, and region:

  • Product Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2028)

    • Basic

    • Tempered

    • Laminated

    • Insulated

    • Others

  • Application Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2028)

    • Architectural

    • Automotive

    • Others

  • Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2028)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

      • Russia

      • Belgium

      • Poland

      • Czech Republic

    • Asia Pacific

      • China

      • India

      • Japan

      • Australia

    • Central & South America

      • Brazil

      • Argentina

      • Colombia

    • Middle East & Africa

      • Saudi Arabia

      • UAE

      • Iran

      • South Africa

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