|Fastest Growing Market:||Asia Pacific|
|Largest Market:||Asia Pacific|
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Global float glass market is expected to reach 68.49 million tons by the end of this year and is expected to register a CAGR of over 5.5%, during the forecast period.
The major consumer of float glass is the construction industry. With the restart of a few construction activities after the COVID-19 Pandemic, the demand for float glass is coming back on track, which somehow may balance the market for float glass in residential and commercial applications till the mid of 2021.
- Over the short term, major factors driving the market studied are the increasing demand from the construction industry, along with recovering the automotive industry.
- Some of the factors restraining the demand for the market studied include the rising raw material prices, declining demand for certain types of glasses, and environmental impact related to float glass production, among others.
- Neverthless, huge growth potential from solar sector is likely to creat lucrative growth opportunity in the studied market.
- Asia-Pacific dominated the market across the world with the most substantial consumption from countries like China and India.
Scope of the Report
Float glass is a type of flat glass produced by a float glass process. It is essentially a super smooth, distortion-free glass used to design other glass items such as laminated glass, heat-toughened glass, etc. With a natural greenish hue and translucent nature, it can transmit about 87% of the incident light, and unlike sheet glass, float glass provides users with a crystal-clear view. The float glass market is segmented by raw material, type, application, and geography. By raw material, the market is segmented into sand, limestone, soda ash, dolomite, and other raw materials. By type, the market is segmented into clear, tinted, patterned, wired, and extra clear/ low ferrous floated glass. By application, the market is segmented into building and construction, automotive, solar glass, and other applications. The report also covers the market size and forecasts for the Float Glass Market in 16 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (million tons).
|Other Raw Materials|
|Extra Clear/Low Ferrous Floated Glass|
|Building and Construction|
Key Market Trends
Increasing Demand from Building and Construction Segment
- Float glass has become a fundamental element in architectural and design projects ranging from gleaming skyscrapers to modern co-ops and opulent villas to stylish workplaces. In commercial applications, float glass is becoming increasingly popular. It enables the construction of structures while giving the sense of being outside and providing the benefits of being inside and sheltered from the weather.
- In building and construction applications, float glass is majorly used in windows for both functional and aesthetic purposes, which allow clear sights for customers looking out of the window, and at the same time, protect them from the elements such as UV radiation.
- In addition, the growing urban population and the rise in disposable income of the world population are a few other major factors that have significantly boosted the growth of infrastructure and construction activities worldwide. The growth of construction and infrastructure development directly links to the demand for float glass, which tends to drive the growth of the market.
- The recent trend suggests a rapid change in building architecture, with the use of float glass in facades and roofs optimizing natural daylight. Furthermore, the market drivers include technologies such as Low-E and triple silver insulated goods.
- According to the Institution of Civil Engineers, the volume of construction output is forecasted to grow by 85%, with a revenue of USD 15.5 trillion worldwide in the upcoming decade, led by emerging countries such as India and China and developed countries like the United States. The growing commercial construction in a wide range of sectors, including education, retail, healthcare, office commercials, and so on, increases the demand for float glass, which drives the growth of the market.
- The global construction market was valued at around USD 7.2 trillion in 2021, and it is likely to rise with a growth rate of 3.6% in 2022, which is likely to support the demand for float glass from various construction applications.
- According to the American Institute of Architects, overall non-residential building construction in the United States is expected to grow to 3.1% in 2022. The construction of hotels is expected to rise by 8.8% in 2022 and of office spaces by 0.1%.
- All such aforementioned developments are expected to drive the demand for float glass in the construction industry through the years to come.
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Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to dominate the market for float glass during the forecast period owing to the demand from industries such as construction and building, solar panels, etc. in the countries like China and India.
- The Chinese government is focusing on the expansion of float glass production capacity projects. Float glass also achieved rapid growth in production and sales in China. As of September 2021, the industry accounted for 299 active production lines with a capacity of 197,600 tons per day. Additionally, from January to September 2021, 14 float glass production lines were resumed, with a production capacity of over 9,900 tons per day.
- According to the International Trade Organization, China is the world's largest construction market and has the highest rate of urbanization globally. According to data from the American Institute of Architects (AIA) Shanghai, by 2025, China is likely to have built a city equivalent to 10 in New York since the 1990s. Furthermore, the construction industry is expected to account for 6% of the country's GDP by 2025. The Chinese construction sector plays an increasingly important role in stimulating the economy and stabilizing employment.
- The use of automotive glass in the production of windshields, side windows, and rear windows has significantly improved safety in all parameters. According to the International Trade Organization, China remains the world's largest automotive market in terms of both annual sales and production, with domestic production expected to reach 35 million units by 2025. In 2021, China's EV industry was worth USD 124.21 billion. In addition, the sales of electric vehicles in China are anticipated to reach 6 million units by the end of 2022 as demand in the vehicle segment soars.
- In India, in September 2022, Kotak Special Situations Fund (KSSF), managed by Kotak Investment Advisors Limited (KIAL), announced an investment of about INR 450 crores in Gold Plus Glass Industry Limited, a float-glass manufacturer. This investment would accelerate the company’s expansion plans, bring significant benefits to the industry and help make India self-sufficient in glass, where over 30% of glass demand is currently imported.
- In May 2022, Asahi India Glass' Board of Directors approved the expansion of its production capacity through the construction of a Greenfield Float Glass plant. The new production plant would be used mainly for internal consumption toward localization of raw glass for auto & architectural processing. All such trends are likely to enhance the demand for float glass in India.
- Some of the major companies operating in the Asia-Pacific region are AGC Inc., Nippon Sheet Glass Co. Ltd, and GUARDIAN GLASS LLC.
- All the factors, in turn, are projected to have a significant impact on the market growth in the region during the forecast period.
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The global float glass market is consolidated; the top five players dominated global production with a significant share in 2021. Some of the key companies in the market include AGC Inc., Saint-Gobain, GUARDIAN GLASS LLC, Nippon Sheet Glass Co., Ltd, and Şişecam, among others.
- In September 2022, SCHOTT has made a partnership with Emirates Glass LLC, one of the leading processors of architectural flat glass in the Middle East, to lift up Middle East architecture.
- In April 2022, AGC Glass Europe partnered with energy company E.ON on a joint project for waste heat recovery and production of green power at AGC‘s float glass plant in Seingbouse, France. This project will be developed, implemented, financed, and operated by E.ON.
- In January 2022, China Glass Holdings Limited (CNG) acquired the Orda float glass manufacturing facility in Kazakhstan, which aims to be the most modern industrial float glass facility in the world using the latest float glass technology designed and supplied by Stewart. With this acquisition, China Glass Holdings is expected to seek out the great potential of the Kazakhstan glass industry.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Increasing Demand from the Construction Industry
4.1.2 Recovering Automotive Industry
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1 Raw Material
5.1.3 Soda Ash
5.1.5 Other Raw Materials
5.2.5 Extra Clear/Low Ferrous Floated Glass
5.3.1 Building and Construction
5.3.3 Solar Glass
5.3.4 Other Applications
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.4.2 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
5.4.4 South America
188.8.131.52 Rest of South America
5.4.5 Middle-East and Africa
184.108.40.206 Saudi Arabia
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 AGC Inc.
6.4.3 Cardinal Glass Industries Inc.
6.4.4 China Glass Holdings Limited
6.4.5 China Luoyang Float Glass Group Co. Ltd
6.4.6 Etex Group
6.4.7 Guardian Industries Holdings
6.4.8 Kibing Group
6.4.9 Nippon Sheet Glass Co., Ltd
6.4.10 PRESS GLASS Holding SA
6.4.11 PT Mulia Industrindo Tbk
6.4.13 SCHOTT AG
6.4.15 Taiwan Glass Ind Corp.
6.4.16 Xinyi Glass Holdings Limited
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Huge Growth Potential From Solar Sector
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Frequently Asked Questions
What is the study period of this market?
The Float Glass Market market is studied from 2017 - 2027.
What is the growth rate of Float Glass Market?
The Float Glass Market is growing at a CAGR of >5.5% over the next 5 years.
Which region has highest growth rate in Float Glass Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Float Glass Market?
Asia Pacific holds highest share in 2021.
Who are the key players in Float Glass Market?
AGC Inc. , Nippon Sheet Glass Co., Ltd. , Saint-Gobain , GUARDIAN GLASS LLC. , Şişecam are the major companies operating in Float Glass Market.