Flat Glass Market: Key points with current analysis and trends with in the Market forecast 2022-2028
According to a new report published by UnivDatos Markets Insights, the flat glass market is expected to grow at a CAGR of around 6% from 2022-2028. The analysis has been segmented into the type (float glass, sheet glass, rolled glass, and others); application (architecture, automotive, and others); region/country.
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The flat glass market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the market. The market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository estimates the Flat Glass market at the global and regional levels.
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Market Overview
The global flat glass industry is highly dependent on the construction and automotive industries. Over the years, the world has witnessed a significant rise in construction activities in both developed and developing worlds. This in turn creates a large demand for flat glass. However, the slowdown in automotive production in the last couple of years is affecting the flat glass manufacturers’ operations. Besides this, increasing investment in the renewable energy sector, especially solar is creating a new growth opportunity for the flat glass industry. Being a commoditized product, the flat glass industry has limited room to increase its margin. In addition to this, limited research & development in the flat glass industry has created resistance to the development of high-margin products. As a result, horizontal diversification like the solar application is gaining market traction among flat glass manufacturers. However, raw material costs play a crucial role in the industry, the industry has a limited margin therefore fluctuating raw material prices creates challenges for the companies to operate in an efficient manner.
COVID-19 Impact
The recent COVID-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted industrial operations in a negative way, which has impacted the demand for flat glass as its highly dependent on industries’ performance.
The global flat glass market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on type, the market is categorized into float glass, sheet glass, rolled glass, and others. Among these, float glass held the dominant position in the market in 2020 and is expected to retain its solid position in the market during the forecast period. This can be ascribed to the huge demand for float glass for architectural and automotive applications. Further, the float glass production process is less intricate compared to other types, as a result, it is easy for glass manufacturers to expand the production lines to meet the growing demand.
· Based on application, the market is categorized into architecture, automotive, and others. Among these, the architecture category accounted for a significant share of the market and is expected to retain its market position over the forecast period. Rising construction activities to accommodate the growing population, urbanization, and increasing people per capita income are some of the major factors driving the market for flat glass in architecture applications.
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Flat Glass Market Geographical Segmentation Includes:
· North America (The United States, Canada, and the Rest of North America)
· Europe (Germany, The United Kingdom, France, Italy, Spain, and the Rest of Europe)
· Asia-Pacific (China, India, Japan, and the Rest of Asia-Pacific)
· Rest of the World
The Asia-Pacific captured a dominant position in the market and is expected to increase its market share over the forecast period. Robust growth in the construction industry and automotive industry especially in China in the last several decades has made the region the largest consumer of flat glass. Further, the increasing construction market in regional economies like India and ASEAN countries along with increasing automotive production facilities in the region is fueling the regional flat glass market.
The major players targeting the market include
· AGC Inc.
· Compagnie de Saint-Gobain S.A.
· Nippon Sheet Glass Co. Ltd.
· Guardian Industries
· Şişecam Group
· Vitro S.A.B. de C.V.
· Central Glass Co. Ltd.
· Fuyao Glass Industry Group Co., Ltd.
· China Glass Holding Ltd.
· Xinyi Glass Holdings Limited
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the flat glass market?
• Which factors are influencing the flat glass market over the forecast period?
• What are the global challenges, threats, and risks in the flat glass market?
• Which factors are propelling and restraining the flat glass market?
• What are the demanding global regions of the flat glass market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.
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About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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