Improved Production Processes Gaining Momentum in Flat Glass Sector, says Market.us

Flat glass is used for sunroofs, windscreens, and backlights in the construction and automobile industries. Additionally, flat glass is used in interior design, greenhouses, solar panels, mirrors, and other products.

Due to the presence of many major players, the market is highly competitive. To recover from the pandemic, companies are taking various strategic steps to strengthen their market presence and to offset losses. Key players are also innovating to streamline their production process which is in turn helping to cater with the growing demand.

According to Market.us, “The size of the global flat glass market was estimated at USD 116.83 billion in 2021 and is anticipated to grow to USD 207.26 billion by 2032, with a CAGR of 5.90%.”

The growing demand for glasses in the construction industry as well as the rising demand for electronic displays as well as consumer electronics like smartphones, televisions, laptops, tablets, wearables, and other devices are the main drivers fueling the expansion of the market under study.

However, rising input costs for raw materials brought on by inflation and fluctuating exchange rates in the energy sector are anticipated to restrain the expansion of the worldwide flat glass market.

Anurag Sharma, a senior research analyst at Market.us, said, “Over the projected timeframe, the market expansion is expected to be propelled by the rising number of solar energy installations around the world as well as the increasing use of glass architecture in both residential and non-residential projects. The industry is expanding as a result of factors such the depletion of renewable resources, increased environmental concerns, government regulations, technological improvements, lower installation costs for solar energy systems, and rising electricity demand.”

The increased use of renewable natural resources and the use of items with low energy ratings are both results of the growing awareness of the need to conserve electricity. This glass’s use in residential and commercial structures has made it possible to use natural light while lowering the price and usage of artificial lighting.

Various governments have established laws and guidelines to encourage energy efficiency in the building industry. In comparison to conventional structures that don’t follow these norms and requirements for energy-efficient buildings, these buildings use up to 40%–60% less energy. This has raised the demand for this kind of glass, which has improved the market’s growth rate.

The demand for flat glass, which typically drives the growth of the market, is closely connected to the expansion of construction and infrastructure development.

Due to the rising home construction market in developing nations like India and the ASEAN countries, Asia-Pacific is anticipated to experience the highest increase in new residential construction.

The need for flat glass is also anticipated to increase due to the expanding solar energy sector. The market for flat glass is anticipated to experience considerable development prospects over the course of the projected period due to the rising demand for glass processing equipment.

Rising environmental consciousness has encouraged more solar energy use in addition to initiatives to lessen reliance on non-renewable energy sources. Over the course of the projection period, these factors are anticipated to boost demand for flat glass.

Over the forecast period, Asia Pacific is anticipated to have a prominent position in the market in terms of revenue, accounting for 61.6% of the market in 2022. Growth is linked to the region’s rising automotive car sales.

During the projected period, it is anticipated that the markets in Latin America, the Middle East, and Africa will have significant expansion. The governments in these regions have made investments to extract energy from renewable sources, which has increased the need for flat glass for solar panels. As a result, during the projection period, the market in these regions will experience significant expansion.

Another important product category is tempered glass, which has a wide range of uses including shower doors, windows, architectural components, cookware, and phone screens. The production of tempered goods has increased as a result of rising consumer demand.

Flat glass is used in the production of windshields, windows, headlights, and other automobile parts, among other things, in the automotive industry. For instance, the International Organization of Motor Vehicle Manufacturers estimates that China produced 27.28 million automobiles in 2022 compared to 26.22 million in 2021.

With a market share of more than 50% in the region, China is the world’s largest producer of flat glass. The goal of many Chinese manufacturers is to produce goods that adhere to Western industrial and environmental standards.