Flat Glass Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 113.47 Billion |
| Market Size (2029) | USD 146.76 Billion |
| CAGR (2024 - 2029) | 5.28 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Flat Glass Market Analysis
The Flat Glass Market size is estimated at USD 113.47 billion in 2024, and is expected to reach USD 146.76 billion by 2029, growing at a CAGR of 5.28% during the forecast period (2024-2029).
Most manufacturing facilities were shut down due to the pandemic, and automotive production was affected severely, which impacted production facilities for several months due to the lockdown. The supply chain throughout the world was fractured. The economic instability due to the pandemic outbreak has also made developers, in both public and private sectors, rethink their projects as debts mount. This has created a downfall in the construction sector.
- Over the short term, the growing demand for electronic displays and increasing demand from the construction industry are major factors driving the growth of the market studied.
- However, the impact of the global recession and the resurgence of COVID-19 in China are likely to restrain the growth of the studied market.
- Nevertheless, advancements in the automotive industry and rising initiatives in the solar industry are likely to create lucrative growth opportunities for the global market soon.
- The Asia-Pacific region dominates the flat glass market, with the largest consumption coming from countries such as China, Japan, ASEAN countries, etc.
Flat Glass Market Trends
This section covers the major market trends shaping the Flat Glass Market according to our research experts:
Construction Industry to Drive the Demand for Flat Glass
- Flat glass is used significantly in the construction industry owing to its wide range of functions, from heat insulation to soundproofing and from safety applications to solar protection.
- Recent advancements in flat glass have enabled the material to exhibit self-cleaning abilities. Organic dirt is broken down by ultraviolet light in sunlight. When it rains, the broken-down dirt is simply washed off the windows, leaving almost no streaks; instead of forming droplets as it would on conventional glass, the water forms a film that covers the entire surface of the glass and takes the dirt with it as it runs off. Thus, self-cleaning glass offers better visibility than conventional glass when it rains.
- The growth of construction and infrastructure development directly links to the demand for flat glass, which drives the market's growth. The recent trend suggests a rapid change in building architecture, with the use of flat glass in facades and roofs, optimizing natural daylight.
- In North America, the United States has a significant share of the overall residential construction sector in the region. According to the United States Census Bureau, the annual value of residential construction put in place in the United States was USD 802,933 million in 2021, compared to USD 644,257 million in 2020.
- From 2021, a few regions of Asia-Pacific in the construction sector are expected to be one of the fastest-growing sectors in the country. The construction sector is projected to rebound to a growth of 13.9% in 2021, from an 18.7% contraction in 2020.
- According to PwC; Urban Land Institute, industrial real estate had the best prospects among commercial properties in the Asia-Pacific region in 2022 with an index score of 6.99 on a scale of 1-9.
- 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 Asia-Pacific is expected to witness the highest growth in new residential construction projects due to the expanding housing construction market in developing countries, like India, and ASEAN countries.
- In India, the construction industry contributes to about 9% of the country's GDP. 100% Foreign direct investment in the construction industry in India under automatic route is permitted in completed projects for operations and management of townships, malls/shopping complexes, and business constructions. These factors are expected to contribute towards the growth of the market studied.
- According to IBEF, the government has given a massive push to the infrastructure sector by allocating INR 10 lakh crore (USD 130.57 billion) to enhance the infrastructure sector in the Union Budget 2022-23.
China to Dominate the Asia-Pacific Region
- China is the largest producer of flat glass in the world, holding a significant market share in the region. Many manufacturers in China have been geared to create products that meet Western production levels and environmental standards.
- The energy sector is witnessing rising demand for flat glass in solar power applications. China has more solar capacity than any other country in the world. It is home to one of the biggest solar farms in the world in the Tengger Desert. The nation is expected to remain the largest investor in renewable energy for the foreseeable future.
- The Asia-Pacific region holds the highest production share in the global automotive market, with 46,732,785 units in 2021. In 2021, China accounted for about 32.5% of global car production. In the passenger car market, China's annual production for passenger cars exceeded that of Japan, Germany, India, and South Korea combined. China was also the world's largest automobile sales market in 2021.
- According to OICA, the total number of vehicle production increased from 25,225,242 units in 2020 to 26,082,220 units in 2021.
- According to CEC; China Energy Portal, as of 2021, China has installed more than 300 gigawatts of solar power capacity. China made great strides in increasing solar power capacity during the forecast period, increasing cumulative capacity from just 125.79 GW in 2017 to 306.56 GW in 2021.
Flat Glass Industry Overview
The flat glass market is consolidated in nature. The major players include Saint-Gobain, AGC Inc., Guardian Industries, Nippon Sheet Glass Co., Ltd, and Şişecam, among others (not in any particular order).
Flat Glass Market Leaders
Saint-Gobain
AGC Inc.
Guardian Industries
Nippon Sheet Glass Co., Ltd
Şişecam
*Disclaimer: Major Players sorted in no particular order
Flat Glass Market News
- In September 2022, AGC Glass Europe S.A. a 100% subsidiary of AGC a world-leading manufacturer of glass, chemicals, and high-tech materials announced that it will produce a float glass range featuring a significantly reduced carbon footprint of less than 7 kg of CO2 per m2 for clear glass (4 mm thickness) by the end of 2022.
- In June 2022, Saint Gobain unveiled its new highly reflective glass, MIRASTAR REFLECT. The product has a high level of opacity and reflection, with only 0.1% Light Transmission and 55% Light Reflection. It shows great durability even in high-humidity environments and is best suited for mirrored wall-fixed applications.
Flat Glass Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Demand for Electronic Displays
4.1.2 Increasing Demand from the Construction Industry
4.2 Restraints
4.2.1 Impact of the Upcoming Recession Across the Globe and the Resurgence of COVID-19 in China
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porters 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 (Market Size in Value)
5.1 Product Type
5.1.1 Annealed Glass (Including Tinted Glass)
5.1.2 Coater Glass
5.1.3 Reflective Glass
5.1.4 Processed Glass
5.1.5 Mirrors
5.2 End-user Industry
5.2.1 Building and Construction
5.2.2 Automotive
5.2.3 Solar Glass
5.2.4 Other End-user Industries
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 ASEAN Countries
5.3.1.6 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 United Kingdom
5.3.3.2 Germany
5.3.3.3 France
5.3.3.4 Italy
5.3.3.5 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
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 Asahi India Glass Limited
6.4.3 Cardinal Glass Industries Inc.
6.4.4 China Glass Holdings Limited
6.4.5 Fuyao Glass Industry Group Co., Ltd.
6.4.6 Guardian Industries
6.4.7 Nippon Sheet Glass Co. Ltd
6.4.8 Phoenicia
6.4.9 Saint-Gobain
6.4.10 SCHOTT
6.4.11 Şişecam
6.4.12 Taiwan Glass Industry Corporation
6.4.13 Vitro
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Advancement in the Automotive Industry
7.2 Rising Initiatives in the Solar Industry
Flat Glass Industry Segmentation
Flat glass is a type of glass initially produced in plane form, commonly used for windows, glass doors, transparent walls, and windscreens. For modern architectural and automotive applications, flat glass is sometimes bent after the plane sheet's production. The flat glass market is segmented by product type, end-user industry, and geography. By product type, the market is segmented into annealed glass (including tinted glass), coater glass, reflective glass, processed glass, and mirrors. Based on the end-user industry, the market is segmented into building and construction, automotive, solar glass, and other end-user industries. The report also covers the market sizes and forecasts for the flat glass market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD million).
| Product Type | |
| Annealed Glass (Including Tinted Glass) | |
| Coater Glass | |
| Reflective Glass | |
| Processed Glass | |
| Mirrors |
| End-user Industry | |
| Building and Construction | |
| Automotive | |
| Solar Glass | |
| Other End-user Industries |
| Geography | ||||||||
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Flat Glass Market Research FAQs
How big is the Flat Glass Market?
The Flat Glass Market size is expected to reach USD 113.47 billion in 2024 and grow at a CAGR of 5.28% to reach USD 146.76 billion by 2029.
What is the current Flat Glass Market size?
In 2024, the Flat Glass Market size is expected to reach USD 113.47 billion.
Who are the key players in Flat Glass Market?
Saint-Gobain, AGC Inc., Guardian Industries, Nippon Sheet Glass Co., Ltd and Şişecam are the major companies operating in the Flat Glass Market.
Which is the fastest growing region in Flat Glass Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Flat Glass Market?
In 2024, the Asia Pacific accounts for the largest market share in Flat Glass Market.
What years does this Flat Glass Market cover, and what was the market size in 2023?
In 2023, the Flat Glass Market size was estimated at USD 107.78 billion. The report covers the Flat Glass Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Flat Glass Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the technological advancements shaping the Flat Glass Industry?
The technological advancements shaping the Flat Glass Industry are a) Innovations in smart glass technologies and energy-efficient coatings b) Integration of cutting-edge technologies like augmented reality and the Internet of Things (IoT)
What factors are driving the growth of the Global Flat Glass Market?
The factors driving the growth of the Global Flat Glass Market are a) The expansion of solar capacity b) Increasing adoption of electric vehicles c) Growing demand for energy-efficient building solutions
Flat Glass Industry Report
The global flat glass market is witnessing significant growth, fueled by technological advancements and rising demand in sectors such as construction, automotive, solar energy, and electronics. The construction industry, leveraging flat glass for windows, facades, and interior design, significantly drives market demand, enhancing architectural aesthetics and functionality. Similarly, the automotive sector relies on flat glass for windshields and windows, emphasizing safety and design. Innovations like smart glass and energy-efficient coatings are propelling the industry towards sustainable solutions. Dominated by the Asia-Pacific region, especially China and India, due to rapid urbanization and construction activities, the market sees key players focusing on advanced production techniques and strategic collaborations to maintain competitive edges. Despite challenges like rising raw material costs and environmental regulations, the market holds opportunities in emerging markets and R&D for new, eco-friendly products. Mordor Intelligence™ Industry Reports provide an in-depth analysis, including market share, size, revenue growth rates, and forecasts, offering valuable insights into the flat glass market's future. Get a sample of this industry analysis as a free report PDF download.
