The flat glass market is witnessing an appreciable proportion of growth lately, on account of the product’s massive application scope in the automobile sector. Apart from the automobile sector however, the construction industry also demands flat glass on a large scale – the product is extensively deployed in place of conventional bricks, stone & woods.
How would the flat glass market benefit from the automobile sector?
Rising levels of disposable income have been classified as one of the primary reasons behind the growth of the global automobile market. Given that flat glass is commonly utilized in manufacturing the windows, windshields and sunroofs for automobiles, it is rather overt that flat glass market sales would soar in the years to come, as vehicle sales across the globe continue to rise.
How much growth would the tempered flat glass market witness over the forecast timeframe?
The inherent property of tempered glass to break into small pieces on impact makes the product ideal for the automotive sector as it significantly reduces the risk of injury when an accident occurs. Moreover, the product’s extensive use in construction & household applications, wherein the glass is used to make partitions, shower enclosures, shelves and tables, would also be driving the product sales. Attributing to these factors the tempered flat glass market is projected to witness a CAGR of over 7% over 2017-2024.
How are rising environmental concerns expected to affect the industry growth?
Increasing environmental concerns are expected to make a positive impact on the global market as more consumers are shifting towards the concept of green buildings. Moreover, the rising prominence of controlling the environmental impact by generating energy through renewable resources has fueled the demand for flat glass as it is used in electricity generation and other domestic applications.
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Which geography in flat glass market is expected to make an impact on the global business?
The Europe flat glass market is projected to record significant gains by 2024, driven primarily by Germany, Russia and Italy, due to the rapidly growing automotive industry as well as the presence of a number of prominent automobile manufacturers in the region. Meanwhile, the rising environmental concerns across the continent has led the governments to put more emphasis on the use of energy-efficient technologies. Attributing to these factors the Europe flat glass market is projected to register a CAGR of 5.5% over 2017-2024.
What is the principal strategy adopted by the most prominent players in this industry?
The global flat glass market is a highly competitive domain and is rather fragmented, with a plethora of major industry players such as Guardian Group, Asahi, Asahi India, GSC, NSG Group and Astro Cam. The industry contenders are expected to engage in a number of collaborations as they attempt to consolidate and grow their regional presence. However, experts forecast that undertaking extensive R&D would be a majorly adopted strategy in the coming years. Companies would be carrying out large-scale research programs to facilitate additional properties such as fire resistance, insulation, strength & chemical endurance in products, that would help further propel flat glass market growth over 2017-2024.