Market Size of GCC Flat Glass Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.49 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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GCC Flat Glass Market Analysis
The GCC flat glass market is estimated to reach USD 2.79 billion by the end of this year and is projected to reach USD 3.48 billion in the next five years, registering a CAGR of 4.49% during the forecast period.
The COVID-19 pandemic negatively affected the market in 2020 owing to several restrictions imposed by governments in GCC countries. However, the flat glass market recovered well since the restrictions were lifted. In recent years, the market registered a significant growth rate due to rising demand from the building and construction industry.
- The increasing demand from the construction industry and the growing demand for electronic displays are major factors driving the market's growth.
- However, the fluctuating prices of raw materials and government regulations on carbon emissions are likely to restrain the growth of the market studied.
- Nevertheless, innovative usage of flat glass for renovation projects in the construction industry is expected to create growth opportunities for the flat glass market.
- Saudi Arabia is expected to dominate the GCC flat glass market due to the rising demand from the construction, automotive, and solar end-user industries. The country is also expected to register the highest CAGR during the forecast period.
