Latin America Flat Glass Market - Growth, Trends, and Forecast (2020 - 2025)
The market is segmented by Product Type (Insulated Glass, Tempered Glass, Laminated Glass, and Other Product Types), End-user Industry (Construction, Automotive, and Other End-user Industries), and Geography (Brazil, Argentina, Mexico, and Rest of Latin America)
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Scope of the report
Key Market Trends
TABLE OF CONTENTS
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The Latin America flat glass market is estimated to witness a significant growth, at an estimated CAGR of over 7%, over the forecast period. Increasing housing construction activities in the region are expected to drive the market during the forecast period.
Fluctuating raw material prices are likely to hinder the market’s growth in the coming years.
By end-user industry, the construction segment is expected to dominate the market in the region.
Brazil is expected to dominate the market and is also expected to witness the fastest CAGR during the forecast period.
Scope of the report
The Latin America flat glass market report includes:
Other Product Types
Other End-user Industries
Rest of Latin America
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Key Market Trends
Construction Industry to Drive the Demand for Flat Glass
The construction industry is the largest end-user segment of the market studied. Moreover, the ongoing trend of smart city projects is also anticipated to drive the flat glass demand.
Flat glasses are made of sodium silicate and calcium silicate, and are available from 2mm to 20mm thickness ranges, for several applications. They have a weight range of 6kg/m2-36 kg/m2. These glasses are often considered as building blocks for several types of architectural and interior applications.
Glasses are being used extensively in the construction industry, in windows, façade, doors, interior partitions, balustrades, shop fronts, and railings for stairs and balconies, among other building parts, providing potential opportunity to float glasses.
The body-tinted float glass is a new type of glass, in which, melted colorants are added for coloring and solar-radiation absorption properties. This type of glass saves energy, reduces heat penetration into buildings, and provides a striking visual effect.
Previously, flat glass was used for smaller windows in domestic housing, since larger windows required toughened glasses. Currently, flat glass can also be toughened by putting it through a heating process, which very nearly melts it, and then cools it to ambient temperatures, using a jet of cold air. This glass requires a greater pressure to break. This characteristic makes the glass suitable for use in building applications.
Owing to all the aforementioned factors, the market for flat glass is projected to grow during the forecast period.
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Brazil to Dominate the Market
There are several built-up demands for investments in productive capacity. Brazil is facing problems in the construction industry, owing to various situations, such as political and economical corruption in the country.
Due to corruption and bribery, in construction companies, the Brazilian government introduced the “car wash investigation”. The investigation mostly focused on various construction companies for corruption charges.
The government of Brazil initiated programmes because of the decrease in the public financing for infrastructure projects. One such program is the Programme of Investment Partnerships (PPI). It helped expand and strengthen the relationship between the private sector and the state, with partnership contracts.
Minha Casa, Minha Vida’ (My House, My Life) was launched in 2009. This program is funded mainly through the Growth Acceleration Program (PAC), a federal infrastructure-upgrading program.
All these factors, in turn, are expected to show an impact on the demand for flat glass in the country during the forecast period.
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The Latin America flat glass market is consolidated in nature. Key players in the market include AGC Inc., Vitro, Saint-Gobain, and SCHOTT AG, among others.