|Study Period:||2016 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||Asia Pacific|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The float glass market was valued at 65.55 million metric tons in 2020, and the market is projected to register a CAGR of 5.28% during the forecast period (2021-2026).
The major consumer of float glass is the construction industry. Due to the COVID-19 pandemic, most of the construction and infrastructure projects were shut down for a specified period. Due to this, the demand for float glass has reduced drastically. However, with the restart of few construction activities, 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. Moreover, in 2020, the world’s biggest solar power company stated that the shortage of float glass is increasing the cost and delaying the production of new panels. Due to the COVID-19 pandemic and shutdown of glass-producing plants, the production of float glass declined rapidly. As a result, the glass producers were unable to meet the current demand, which has impacted the growth of float glass in the solar power industry.
- In the medium term, the major factors driving the market studied are the increasing demand from the construction industry and the rising usage of solar glass.
- On the flip side, the declining automotive production and unfavorable conditions arising due to the COVID-19 outbreak are the major restraints expected to hinder the growth of the market.
- Asia Pacific dominated the market, worldwide, with the most substantial consumption from countries, like China and India.
Scope of the Report
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 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on volume (kilotons).
|By Raw Material|
|Other Raw Materials|
|Extra Clear/Low Ferrous Floated Glass|
|Building and Construction|
Key Market Trends
Increasing Demand from Building and Construction Segment
- The construction industry is the major consumer of float glass in the global market. Float glass, owing to its high degree of light transmission, ability to be produced in a range of colors and opacities, and good chemical inertness, among other properties, is widely preferred in the construction industry.
- In the construction industry, float glass serves a wide range of modern architecture applications, both in commercial and domestic builds. In residential applications, float glass is used for smaller windows in buildings.
- They are used for windows for both aesthetic and functional purposes, allowing the occupants to see out while at the same time letting in light.
- Float glass is also extremely popular in commercial applications. It allows structures to be constructed that gives the impression of being outside with the benefits of being inside protected from the elements (with the exception of the sun).
- Float glass plays an increasing role in buildings where it provides an attractive and easy-to-maintain exterior surface. From facades to wall panels, their application has been rising through the years.
- The global construction industry is expected to reach USD 8 trillion by 2030, primarily driven by countries, such as India, China, and the United States.
- China is amid a construction mega-boom. The country has the largest building market in the world, making up 20% of all construction investment, globally. The country alone is expected to spend nearly USD 13 trillion on buildings by 2030.
- In India, Foreign Direct Investment (FDI) received in the construction development sector (townships, housing, built-up infrastructure, and construction development projects) from April 2000 to December 2019 stood at USD 25.37 billion, according to the Department for Promotion of Industry and Internal Trade (DPIIT).
- The United States holds the world’s largest construction industry, which recorded an annual expenditure of over USD 1,306 million in 2019. The construction industry value has been on a constantly rising path between 2014 and 2018, despite witnessing a slight contraction in 2019. According to the US Census Bureau, the number of new privately-owned housing units in the country under construction was 11,471 thousand units in 2019. By March 2020, the number of housing units reached 3,642 units. Moreover, according to the Federal National Mortgage Association (Fannie Mae), housing starts were expected to jump, with 1 million new homes hitting the market by 2021.
- Although construction activities in 2020 witnessed a temporary setback due to the COVID-19 impact, all the developments mentioned above are expected to drive the demand for float glass in the construction industry in the future.
To understand key trends, Download Sample Report
Asia Pacific 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 Asia Pacific construction sector has witnessed steady growth in the recent past, owing to the presence of fast-growing economies, rapid urbanization, and rising infrastructure spending. The increasing presence of foreign companies in the Asia Pacific region has also created the demand for the construction of new offices, buildings, production houses, etc., thereby driving the growth of the construction sector in the region and consequently stimulating the float glass market in the region.
- Additionally, growing environmental concerns regarding global warming are likely to boost the demand for float glass, as it helps in achieving the Leadership in Energy and Environmental Design (LEED) certificate for residential and commercial buildings. Moreover, rising consumer awareness about safety in buildings and emphasis on following building codes issued by the government is expected to further increase the demand for float glass.
- According to the Indian Brand Equity Foundation (IBEF), the Indian real estate industry is likely to reach USD 1 trillion by 2030 and may contribute approximately 13% to the country’s GDP by 2025. This is likely to increase the demand for float glass and propel its market in the region.
- Although the demand for the construction industry is looking good, the automotive sector in the country is slowing down with a decrease in market demand. After steady growth for over a decade, the automobile industry in the country saw a decline in 2019 due to multiple factors, like teething issues with goods and service tax (GST), credit crisis, and demand shock due to the economic slowdown. The automotive production decreased to 4.52 million units in 2019. Furthermore, in 2020, the production declined by 25% compared to 2019, according to OICA.
- China is the largest producer of float glass, globally, holding more than 50% of the market share. Many manufacturers in China have been geared to create products that meet the Western production levels and environmental standards.
- Moreover, China has more solar capacity than any other country, globally, and it is home to one of the biggest solar farms in the world (in Tengger Desert). The nation is expected to remain the largest investor in renewable energy during the foreseeable future. China is also looking to dramatically increase the proportion of solar energy in its power mix, which is expected to create a huge demand for float glass during the forecast period.
- Some of the major companies operating in the Asia Pacific region are AGC Inc., Nippon Sheet Glass Co. Ltd, and GUARDIAN GLASS LLC.
- Thus, all the factors are projected to have a significant impact on the market growth in the region during the forecast period.
To understand geography trends, Download Sample Report
The float glass market is fragmented, with the top players accounting for a marginal market share. Some of the key companies in the market include AGC Inc., Nippon Sheet Glass Co. Ltd, Saint-Gobain, GUARDIAN GLASS LLC, and SCHOTT AG, among others.
- In March 2020, Saint-Gobain divested part of Glass solutions, its glass processing business in Germany, to DIK Deutsche Industriekapital GmbH.
- In December 2019, AGC Inc. signed a memorandum of understanding with Central Glass Co. Ltd on integrating the Architectural Glass Business in Japan. It includes the integration of their architectural glass businesses in Japan.
- In December 2019, Saint-Gobain sold Hankuk Glass Industries, its construction glass activity in South Korea, to Glenwood Private Equity, a leading investment management company in South Korea, specializing in industrial activities and the construction sector.
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 Rising Usage in Solar Glass
4.2.1 Decreasing Automotive Production
4.2.2 Unfavourable Conditions Arising Due to the COVID-19 Outbreak
4.3 Industry Value Chain Analysis
4.4 Industry Attractiveness - 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 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Raw Material
5.1.3 Soda Ash
5.1.5 Other Raw Materials
5.2 By Type
5.2.5 Extra Clear/Low Ferrous Floated Glass
5.3 By Application
5.3.1 Building and Construction
5.3.3 Solar Glass
5.3.4 Other Applications
5.4 By Geography
5.4.1 Asia Pacific
126.96.36.199 South Korea
188.8.131.52 Rest of Asia Pacific
5.4.2 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
5.4.4 South America
22.214.171.124 Rest of South America
5.4.5 Middle-East and Africa
126.96.36.199 Saudi Arabia
188.8.131.52 South Africa
184.108.40.206 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.
6.4.2 BG Float Glass
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 GUARDIAN GLASS LLC
6.4.7 KIBING GROUP
6.4.8 MULIA INDUSTRINDO
6.4.9 Nippon Sheet Glass Co. Ltd
6.4.11 PRESS GLASS SA
6.4.12 PROMAT UK LIMITED
6.4.14 SCHOTT AG
6.4.16 TAIWAN GLASS IND. CORP.
6.4.17 Xinyi Glass Holdings Limited
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Application in Interior Designing and Infrastructure
You can also purchase parts of this report. Do you want to check out a section wise price list?
Frequently Asked Questions
What is the study period of this market?
The Float Glass Market market is studied from 2016 - 2026.
What is the growth rate of Float Glass Market?
The Float Glass Market is growing at a CAGR of 5.28% 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 2020.
Who are the key players in Float Glass Market?
AGC Inc. , Saint-Gobain , SCHOTT AG , Nippon Sheet Glass Co. Ltd, GUARDIAN GLASS LLC are the major companies operating in Float Glass Market.