The need for flat glass arises from the rising number of solar installations that run on solar energy. The use of such glass in architecture and automotive is done from bending the plate glass for suitable use. Use of such glass in buildings is on the rise due to its energy efficiency to use maximum natural light and reduction in the use of artificial light. According to Fortune Business Insights, the global flat glass market size was valued at USD 98.37 billion in 2018 and is expected to reach a valuation of USD 153.21 billion by 2026 at a CAGR of 5.7% over the forecast period. The inclination for the product is attributed to increasing diffusion of glass architecture in residential and non-residential infrastructures. The need to extract energy from renewable sources has led government investments in solar energy plants and growth of the market. Factors such as government rules, technological advancements, and growing capacities of solar are expected to increase the demand for plate glass.
Flat glass, also known as plate glass, is formed with a higher content of sodium oxide and magnesium oxide. It is a form of glass that is produced in the form of a plane and is commonly used for windows, glass doors, transparent walls, and windscreens. It is used for bathrooms, offices, homes, and glass partitions. It has a wide range of functions such as heat insulations, soundproofing, and solar protection. It is also gaining popularity due to its properties such as high strength, high transmissibility, and low reflection.
COVID-19 Impact: Disruptions in Construction Industry to Hamper Growth
The impact of COVID-19 pandemic was felt on the construction industry due to the rules and regulations imposed during the pandemic. The disruptions were experienced due to halting of manufacturing and production facilities for a long period of time, which disrupted the supply chain network. The economic instability affected the construction activities in both public and private sectors, which affected the demand for flat glass.
Top Market Players Reported by Fortune Business Insights™:
AGC Inc., formerly known as Asahi Glass Co. Ltd., is a Japanese glass manufacturing company. It is headquartered in Tokyo and is one of the largest glass companies globally. It is also one of the core companies of Mitsubishi. It produces architectural, automotive, applied glasses, and other products. It also produces ceramics, electronics, and other products.
Saint-Gobain is a French multinational company located in Paris, which is primarily known for manufacturing glass and building materials. It was founded in 1665, making it one of the oldest glass manufacturing companies in the world. It is the largest manufacturer and producer of glass based on the revenue with its operations in 75 countries and 8 R&D centers worldwide.
Şişecam is a flat glass manufacturing company based in Istanbul, Turkey and is a leader in Europe along with the world’s fifth largest flat glass producer. It conducts its core operations plate glass in three lines, architectural glass, home appliance glass, and energy glass. It currently operates in 150 countries in terms of sales and revenue and has production operations located in 14 countries globally.
Taiwan Industry Glass Corporation
Taiwan Industry Glass Corporation is founded in 1964 and located in Taipei City, Taiwan. The company is engaged in the manufacturing of fiberglass, flat glass, kitchenware, glass container, and tableware. The products are distributed in the Taiwanese market along with Asia, the Americas, Oceania, and Europe.
Guardian Industries is a private industrial manufacturer of glass that is located in Michigan, U.S. It provides float glass, fiberglass, fabricated glass, and building materials for commercial, automotive, and residential applications. It currently has 12 subsidiaries and was acquired by Kochi Industries in 2012.
Recent advancements in the product have led to enhancing the quality of the material to have self-cleaning properties. When it rains and the dirt falls on it, organic dirt is normally washed away from the windows that leaves no streaks of dirt rather than forming droplets. The self-cleaning glass offers better visibility at the time of rain. The recent trend of change in the infrastructure and architecture of the buildings, which optimizes the natural daylight is anticipated to increase the market share.
The future of flat glass relies upon how effectively they are used to make buildings more energy-efficient. Awareness of saving electricity has enabled the use of products that have low energy ratings, leading to the use of natural sources of energy. Governments in different countries have strict rules & regulations to promote energy efficiency in buildings. Such procedures direct the buildings to comply with rules & regulations to consume 40%-60% less energy than traditional buildings that don’t follow the rules. Therefore, such increased consumption is expected to lead to the market growth of plate glass.