Flat Glass Market Surge Valuation Of USD 71.98 Billion By 2022: Grand View Research, Inc.
Global flat glass market was valued at USD 71.98 billion
in 2014 and is expected to witness growth over the next seven years owing to
the increasing demand for insulation from the construction sector. Growing
demand for engineered glass in buildings, especially for use in windshields,
transparent walls, and windows, is expected to drive the global market over the
forecast period.
Global insulating glass demand was 9,883.9 kilo tons
in 2014. China has been taking efforts for energy saving, thus creating major
investments in manufacturing capabilities as well as raw material supply of the
product. However, lack of awareness regarding the benefits of the product particularly
in Latin America is likely to restrict its market over the next seven
years.
Full
Research Report On Global Flat Glass Market By Grand View Research:
www.grandviewresearch.com/industry-analysis/global-flat-glass-market
www.grandviewresearch.com/industry-analysis/global-flat-glass-market
Flat glass was the second largest product segment of
the glass market accounting for over 30% of the total demand in 2013. Growth of
the industry coupled with growing flat glass demand in buildings &
architecture and automotive segments is estimated to have a positive impact on
market growth over the forecast period. The global glass industry is estimated
to grow at a CAGR of over 3% from 2014 to 2020
Construction dominated the global market accounting
for 81.1% of the global market in terms of demand in 2014. Increasing project
sanctions and construction of green buildings in the U.S., Canada, the UK,
Australia, China, and India are anticipated to drive growth. Growing awareness
towards LEED-certified buildings has been another significant factor
responsible for surge in the demand over the past few years.
Demand for tempered product was 20,375.2 kilo tons
in 2014 and is expected to gain share over the forecast period. Increasing
construction activities particularly in developing regions including Africa and
Middle East coupled with enhanced properties of tempered glass is likely to
propel its market over the next seven years.
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More Reports Of This Category By Grand View Research:
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Asia Pacific was the largest consumer with major
demand centered towards China, which accounted for over 60.3% of the global
demand. Increasing demand for solar trackers and PV panels coupled with rising
infrastructure spending is expected to result in an escalated growth of the
product in Asia Pacific over the next few years.
Major companies operating in this market include
AIS, NSG Group, Saint-Gobain, PPG Industries, Xinyi Auto, CSG Architectural,
Corning Inc, Central Glass, Schott AG, Sisecam Asahi India Glass and AGC. The
market is characterized by mergers & acquisitions to gain a edge over their
competitors. For instance, in April 2015, AGC acquired NordGlass, an automotive
replacement glass manufacturer in Poland in order to strengthen its market
share in Europe. In May 2015, Saint-Gobain acquired ZenPure, a filtration
product specialist.
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business decisions,
we offer market intelligence studies ensuring relevant and fact-based research
across a range of industries, from technology to chemicals, materials and
healthcare.
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Information: www.grandviewresearch.com
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