Flat Glass Market to cross 120 million tons consumption by 2024
SELBYVILLE, Del., May 3, 2018 /PRNewswire-iReach/ -- Laminated Flat Glass Market is poised to surpass USD 40 billion in sales by 2024. It is prominently used for skylight in construction and as windshield in automotive industry. Strong application indicator in windows, curtain walls, automotive windshield and storefront exterior should impact positively on product demand.
Flat Glass Market size will surpass USD 130 billion by 2024. Strong outlook towards increase in automotive production meeting the global demand owing to rise in middle class income level and consumer preference for luxury automobile should propel flat glass demand. Positive application scope for increasing usage in manufacturing windshields & window for cars and in sunroof for aesthetic appearance should drive product demand.
Flat glass is extensively used in construction industry replacing conventional bricks, wood and stone. Positive outlook towards growth in infrastructural spending for building airports and residential buildings coupled with strict amendments regarding use of ecofriendly building materials will drive industry growth.
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Strong R&D expenditure to formulate novel products with additional benefits including high insulation, strength, fire resistance, energy efficiency, chemical resistance and safety supported by technological innovations should drive flat glass market growth over the forecasted timeframe.
Raw materials used in manufacturing flat glass include silica, limestone, soda ash and natural gas. Volatile raw material prices along with risk of procurement may challenge industry profitability thereby affecting flat glass market price trend. However, stringent environmental regulations on using hazardous substances supported by government initiatives pertaining to use of ecofriendly & energy saving building materials should surge product demand.
Flat tempered glass market may witness growth at over 7% owing to extensive use in household & building application. These products on impact breaks into small pieces and used in automotive application to reduce risk of injury in case of accidents. Other household application includes table, shelves, partitions and shower enclosures.
Shifting consumer inclination towards green building owing to rising environmental concerns is likely to favor industry growth. Growing awareness pertaining to usage of renewable energy resources to control environmental impact has led to rise in demand for flat glass in domestic applications and electricity generation thereby stimulating industry growth.
Europe flat glass market size led by Germany, Italy and Russia anticipates growth at over 5.5% due to its expanding automotive industry and presence of major automobile manufacturers in the region. Growing environmental concerns has led to rise in emphasis on use of energy efficient technologies thereby contributing towards flat glass market size.
Automotive applications from flat glass market should witness strong gains and surpass 1.8 billion sqr. mtrs in demand. Rising influence on safety owing to high accidental mortality rate may fuel product demand. Increasing usage to reduce vehicle weight in compliance with regulatory norms to control carbon emissions should positively favor industry growth.
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Flat Glass market research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in tons & sq. mtr. and revenue in USD from 2013 to 2024, for the following segments:
Flat Glass Market, By Product
- Tempered Glass
- Laminated Glass
- Insulating Glass
- Basic Float Glass
- Others
Flat Glass Market, By Application
- Construction
- Automobile
- Others
The above information is provided on a regional and country basis for the following:
- North America
- Central & South America
- Europe
- Post-Soviet States
- China
- Indian Sub-Continent
- Oceania
- Middle East
- Africa
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