The booming construction industry heralds substantial growth in the flat glass market
The global flat glass market is valued at $274 billion in 2021 and is expected to reach $445 billion by the end of 2032. During the forecast period (2022-2032), the overall flat glass market demand is expected to surge at a CAGR of 4.5%.
According to a Fact.MR research report, the global flat glass market sales are expected to exceed USD 286.33 billion in 2022 owing to rising living standards and investments in the construction industry.
Furthermore, the growing demand for attractive interior designs and luxury architecture is likely to benefit the flat glass market. For example, in September 2021, Greystar Real Estate Partners LLC, in partnership with CPP Investments and Cyrela, established a Brazilian multifamily real estate unit in Sopaolo, initiatives that are expected to boost the flat glass market in the coming years.
Growing demand for solar energy owing to low installation costs and growing environmental concerns is supporting the demand for flat glass, which in turn will drive sales in the flat glass market.
Apart from this, growing building construction developments coupled with technological innovations will drive the demand for flat glass over the forecast period. Rapid industrialization and urbanization in China, India, Brazil, and the United Arab Emirates will accelerate the growth of the flat glass market.
Flat glass has a variety of applications in the automotive industry, including windows, doors, automotive windshields, side panels, and sunroofs. Fact.MR estimates that the implementation of regulations by the government to improve energy efficiency and smart glass technologies is likely to create growth opportunities for players in the flat glass market.
For example, according to the U.S. Census Bureau, the number of privately-owned housing units grew by 6.7% in the U.S. South last year, a trend that is likely to continue in the coming years, driving demand for flat glass.
Main contents of the report:
In terms of product, insulating flat glass is expected to hold a market share of over 45% in 2022. In terms of end-users, the building and construction sector is expected to reach $85 billion in 2032. The Asia-Pacific flat glass market is expected to account for more than 62% of the global market share in 2022. During the forecast period, North American flat glass sales are expected to grow at a CAGR of 5%. Based on the application segment, the construction segment is expected to account for over 73% of the overall market share.
Growth Drivers:
Advances in construction activities and infrastructure development against the backdrop of rapid urbanization are expected to drive sales in the market. Growing demand for luxury spaces and the construction of spacious buildings is expected to drive the demand for flat glass in the coming years.
Figure 1 The growth in the flat glass market 1
Companies covered in the Fact.MR report:
GGC Inc., Central Glass Ltd., Capital Group, China Glass Holding Ltd., Euroglas, Fuyao Glass Industry Group Co. Ltd., Guardian Industries, Nippon Sheet Glass Co. Ltd., Saint -Gobain, iEcam Group.
Divided by product
Insulated flat glass
Laminated flat glass
Tempered Flat Glass
Basic Flat Glass
Other flat glass products
By application area
Automotive Flat Glass
Architectural Flat Glass
Other Flat Glass Applications
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