Global flat glass market is expected to exhibit a CAGR of 6% over the forecast period, owing to increasing government initiatives for production of flat glass. For instance, in India, government initiatives and projects such as Smart Cities is positively impacting growth of infrastructure and construction sectors, which is expected to boost demand for flat glass. Furthermore, the significant growth of the automotive industry is a key factor which is expected to drive demand for flat glass. For instance, according to the International Organization of Motor Vehicle Manufacturers, in 2015 the global production of vehicles was 90,780,583 units, which increased to 95,634,593 units in 2018. However, the growth of the market is expected to be hampered by the increasing cost of raw materials such as soda ash and silica sand amongst others.
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Among application, windows and glass doors segment is expected to hold the largest share in the global flat glass market over the forecast period. For instance, according to the data released by the U.S. Department of Housing and Urban Development in June 2019, the number of newly completed residential buildings was around 900 thousands of units in May 2014, which increased to 1,200 thousands of units in May 2019. Thus increasing construction activities is expected to drive demand for flat glass.
Among regions, Asia Pacific accounted for the largest market share in 2018, followed by Europe. Moreover, flat glass market in Europe is expected to witness significant growth due to high energy consumption and increasing concerns about CO2 emissions in the region. The products manufactured using flat glass are capable of providing natural light and facilitating solar heat transmissions. Flat glass is used for manufacturing windshields and backlights in automotive vehicles, which helps in reducing the CO2 emissions and serves as a sustainable solution.
Global Flat Glass Market, By Glass Type:
Tempered, Laminated & Annealed Glass
Global Flat Glass Market, By Application:
Windows & Glass Doors
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Key companies covered as a part of this study include, Agc Inc., Nippon Sheet Glass Co., Ltd, Compagnie de Saint-Gobain S.A., Guardian Industries, China Glass Holdings Limited, Luoyang Glass Company Limited, Fuyao Glass Industry Group Co., Ltd., CSG Holdings Co., Ltd., Euroglas GmbH, Vitro, S.A.B. de C.V., Taiwan Glass Industry Corporation, Central Glass Co., Ltd., Cardinal Glass Industries, Inc., PT. Mulia Industrindo, Tbk., KCC Corporation, Jinjing Group Co. Ltd., Kaveh Glass Industry Group, JSC Gomelsteklo, Xinyi Glass Holdings Limited, and Kibing Group.
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