GLASS MARKET TO REACH USD 174.3 BILLION BY 2027 | CAGR 4.6% — FORENCIS RESEARCH
Global Glass Market: Key Highlights
- According to the new market research report “Glass Market by Material Type (Soda-Lime Glass, Borosilicate Glass, Lead Glass, and Glass Ceramic), by Manufacturing Process (Float Glass, Rolled Glass, Sheet Glass, and Plate Glass), by Product (Float Glass, Rolled Glass, Sheet Glass, and Plate Glass), by Application (Float Glass, Rolled Glass, Sheet Glass, and Plate Glass)by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) — Global Forecast (2020 to 2027)”, the global Glass market is estimated to reach USD 174.3 Billion by 2027 at a CAGR of around 4.6% during the review period.
- Glass is one of the most important material in usage and found numbers of application in daily life. It is an inorganic product of fusion, which has been cooled to a solid-state condition without crystallizing
- Glass is a unique material that has unique optical properties. it is widely used for the building & construction industry for exterior and exterior design.
- In the automotive industry glass used to make automotive components such as windshields, side windows, mirrors, headlight and tail-light glass, etc.
Global Glass Market: Key Market Dynamics
- In the construction & building industry glass is widely used as insulation material, structural component, external glazing material, cladding material.
- Rising population and increasing per capita income have expected to boost construction activities all over the globe, which is further boosting the global glass market.
- Growing automotive industry is also one of the key drivers that boosting the global glass market during the review period
- Moreover, increasing infrastructural development in the developing countries has expected to create a new market opportunity for glass manufacturers
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Global Glass Market: Regional Overview
- Asia Pacific:
The glass market in the Asia-Pacific region is projected to witness high demand due to the increasing commercial infrastructure construction, repair of old construction, increasing automotive production, and rising installations of solar panels in the region. China is expected to dominate the glass market in the Asia-Pacific region followed by India. This growth can be attributed to the growing booming residential, commercial infrastructure along with growing automotive sector.
- North America:
The construction industry in the US is continued to expand, due to the strong economy and positive market fundamentals for commercial real estate, along with an increase in federal and state funding for public works and institutional buildings. North American residential sector is growing slower than the non-residential sector. The growing population is expected to boost the demand for housing in the region. For instance, 20 million households are projected to be constructed over the next decade. Thus, the growing construction sector is expected to boost the glass market in the North America region.
Global Glass Market: Key Players Overview
- AGC Inc.:
AGC Inc., formerly Asahi Glass Company, Limited, is one of the leading glass manufacturing company across the globe. The company also supplies electronics, chemicals, and ceramics products. AGC Inc. The Glass segment manufactures and sells float plate glass, figured glass, low-E glass, processed glass for construction use, hardened glass and laminated glass for automobiles, and solar glass, among others. In July 2020, AGC Inc. and FRONTEO, Inc. (Japan), together developed “Takumi KIBIT,” an AI-driven Q&A system, which integrates existing glass manufacturing-related knowledge onto the computer system and provides production staff with easy access to the knowledge by using AI.
Saint-Gobain is engaged in the design, manufacture and distributes a variety of materials and solutions. The company’s products are found application in the buildings, transportation, infrastructure and in many industrial applications. In May 2020, Saint-Gobain, through its subsidiary Schenker-Winkler Holding AG, initiates the disposal of its entire stake in Sika of approximately 15.2 million shares, representing 10.75% of Sika’s share capital, through a private placement to qualified institutional investors by way of an accelerated book-building process.
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