Growth in construction and automotive end-use industries to fuel global flat glass market revenue in the coming years
The growth of the global flat glass market is anticipated to witness a boom in the coming years owing to a burgeoning construction and automotive industry worldwide. Also, increase in government investments in renewable energy sources will also trigger global market demand for flat glass in solar applications.
A significant increase in the construction sector in Latin America is also expected to boost market revenue growth in the near future. There is a growing shift in focus towards the construction of energy efficient buildings and renovation of existing infrastructure. Countries are also moving towards renewable solar energy for use in multiple applications.
All these factors are expected to positively impact demand and revenue growth of the global flat glass market in the next few years. As the construction and automotive industries are the major end users of flat glass, manufacturers of flat glass can benefit from lucrative growth opportunities across these two industry sectors, especially from the growing automotive industry in several Asian countries.
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- Asahi Glass Co. Ltd.
- Compagnie de Saint-Gobain S.A.
- Nippon Sheet Glass Co. Ltd.
- Guardian Industries Corp.
- Central Glass Co., Ltd.
- China Glass Holdings Limited
- ?i?ecam Group
- Xinyi Glass Holdings Ltd.
- Vitro, S.A.B. de C.V.
- Fuyao Glass Industry Group Co., Ltd.
- CSG Holding Co., Ltd.
- Luoyang Glass Company Limited
- Schott AG
- Taiwan Glass Ind. Corp.
- Phoenicia Flat Glass Industries Ltd.
- Obeikan Glass Company
- Emerge Glass India Pvt. Ltd.
- Cardinal Glass Industries, Inc.
- Euroglas GmbH
- Scheuten Glass Holding B.V.
Building & Construction sector followed by the Automotive industry to witness highest revenue growth in the global flat glass market
Of the various applications of flat glass, the Building & Construction sector is anticipated to lead the global flat glass market in terms of revenue share, estimated to hold more than 70% value share in the global flat glass market throughout the forecast period. This segment is projected to dominate the market by the end of 2017 and will likely remain steady in terms of market growth.
The Building & Construction segment is projected to create a total incremental $ opportunity of about US$ 22 Bn between 2017 and 2025 while the Automotive segment is estimated to create a total incremental $ opportunity of US$ 4,752.2 Mn between 2017 and 2025.
The Automotive sector however, is expected to witness good progress in the coming years. This segment is anticipated to hold about 14% value share of the global flat glass market throughout the forecast period. In the automotive industry, flat glass is typically sold through the aftermarket and by OEMs.
The automotive industry in Asia Pacific is likely to witness a significant demand for flat glass, owing to the rapid growth of the sector across the region. A rapid increase in the production of automobiles in the world is the key reason for the utilization of flat glass. Aftermarket replacement glass for automotive is also expected to contribute to the growth of the global flat glass market in the coming years.
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Applications of flat glass across different end-use industries
Flat glass is expected to be in high demand in solar panels, given a conscious shift towards renewable sources of energy for the generation of electric power that has led to a surge in the manufacture of solar panels. The increased interest in creating a sustainable future has aided well in the demand for such panels that predominantly use flat glass as a protective shield, thereby biding well for the growth of the float glass market in the near future.
The furniture industry is anticipated to witness ups and downs owing to a highly fragmented value chain. The wood or lumber industry is also likely to impact the flat glass market as furnishings and other products use flat glass for several applications. The electronics industry is on a steady growth at a global level and will continue to be so especially in the Asia Pacific region, thereby having a high impact on the global flat glass market in the foreseeable future.
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