Global flat glass industry expected to reach $66.6bn by 2019
The global flat glass industry is expected to reach an estimated $66.6 billion by 2019. The major drivers of flat glass are growth in automotive and construction industries. Growing demand of energy efficient glasses has encouraged OEMs to switch to insulated glazing from single glazing units. Players such as NSG and Asahi Glass Co. Limited have introduced solar control glazing and lightweight glazing which are projected to give new shape to the glass market in the next decade. Despite various challenges, the market for flat glass is expected to grow over the next five years.
This report provides an analysis of the global flat glass industry including analysis of the market trend, competitive landscape, company profiles, mergers and acquisitions, emerging trend, and key drivers of industry growth. The study also includes global forecasts for flat glass through 2019, segmented by region and by end user segments such as building construction, automotive, and specialty.
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On the basis of its comprehensive research, Lucintel forecasts that majority of the segments for flat glass industry will grow moderately in 2014-2019. New architectural trend such as glass in patio doors, extra natural lighting in building, and large windows will result in additional demand for flat glass in building construction. Developed regions such as Europe and North America are moving towards energy-efficient glasses to be used in new buildings. Flat glass manufacturers are continuously adopting new strategies to gain market share in this industry. Improvement in design, advanced fabrication, value added features will foster new demand in flat glass industry.
The biggest challenge in the industry is rising cost of raw material and energy. Sluggish demands in developed countries and requirement of efficient logistic management are few other challenges to the growth of the industry. Flat glass manufacturers are required to make innovations in their manufacturing process in order to meet the changing needs and standards of the industry.
