Flat Glass Market Update, Analysis, Forecast, 2019 – 2024
Europe
flat glass market led by Germany, Italy and Russia anticipates growth at over
5.5% due to its expanding automotive industry and presence of major automobile
manufacturers in the region. Growing environmental concerns has led to rise in
emphasis on use of energy efficient technologies thereby contributing towards
flat glass market.
Automotive
applications from flat glass market should witness strong gains and surpass 1.8
billion sqr. mtrs in demand. Rising influence on safety owing to high
accidental mortality rate may fuel product demand. Increasing usage to reduce
vehicle weight in compliance with regulatory norms to control carbon emissions
should positively favor industry growth.
Flat
Glass Market size will surpass USD 130 billion by 2024; according to a new
research report by Global Market Insights, Inc. Strong outlook towards increase
in automotive production meeting the global demand owing to rise in middle
class income level and consumer preference for luxury automobile should propel
flat glass demand. Positive application scope for increasing usage in
manufacturing windshields & window for cars and in sunroof for aesthetic
appearance should drive product demand.
Flat glass
is extensively used in construction industry replacing conventional bricks,
wood and stone. Positive outlook towards growth in infrastructural spending for
building airports and residential buildings coupled with strict amendments
regarding use of ecofriendly building materials will drive industry growth.
Flat
laminated glass market is poised to surpass USD 40 billion in sales by 2024. It
is prominently used for skylight in construction and as windshield in
automotive industry. Strong application indicator in windows, curtain walls,
automotive windshield and storefront exterior should impact positively on
product demand.
Strong
R&D expenditure to formulate novel products with additional benefits
including high insulation, strength, fire resistance, energy efficiency,
chemical resistance and safety supported by technological innovations should
drive flat glass market growth over the forecasted timeframe.
Raw materials
used in manufacturing flat glass include silica, limestone, soda ash and
natural gas. Volatile raw material prices along with risk of procurement may
challenge industry profitability thereby affecting flat glass market price
trend. However, stringent environmental regulations on using hazardous
substances supported by government initiatives pertaining to use of ecofriendly
& energy saving building materials should surge product demand.
Flat
tempered glass market may witness growth at over 7% owing to extensive use in
household & building application. These products on impact breaks into
small pieces and used in automotive application to reduce risk of injury in
case of accidents. Other household application includes table, shelves,
partitions and shower enclosures.
Shifting
consumer inclination towards green building owing to rising environmental
concerns is likely to favor industry growth. Growing awareness pertaining to
usage of renewable energy resources to control environmental impact has led to
rise in demand for flat glass in domestic applications and electricity
generation thereby stimulating industry growth.
Global
flat glass market share is highly competitive and fragmented with major
industry participants include Asahi, Guardian Group, GSC, Asahi India, Astro
Cam and NSG Group. Companies collaborate with others to expand their regional
presence and establish core competencies to strengthen market position.
About
Global Market Insights:
Global
Market Insights, Inc., headquartered in Delaware, U.S., is a global market
research and consulting service provider; offering syndicated and custom
research reports along with growth consulting services. Our business
intelligence and industry research reports offer clients with penetrative
insights and actionable market data specially designed and presented to aid
strategic decision making. These exhaustive reports are designed via a
proprietary research methodology and are available for key industries such as
chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact
Us:
Contact
Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Flat Glass Market Update, Analysis, Forecast, 2019 – 2024
Reviewed by snehal
on
July 02, 2019
Rating:
Reviewed by snehal
on
July 02, 2019
Rating:
No comments