Latest News- Flat Glass Market: Construction is expected to lead the End-user segment during 2024-2028

The Flat Glass Market is being driven by Demand from solar energy sector

The Flat Glass Market is expected to grow at a CAGR of 3.92% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 29.1 billion. In the realm of commercial and residential construction, energy consumption and greenhouse gas emissions have emerged as significant concerns. Buildings account for approximately 40% of global energy usage and are a major contributor to environmental pollution. The high cost of generating such large quantities of energy for regular building operations necessitates the need for energy-efficient and eco-friendly building designs. Green buildings, which prioritize minimal energy consumption and efficient energy utilization, have revolutionized the industry. These structures not only reduce energy consumption but also recycle byproducts, contributing to a more sustainable built environment. Green buildings are a prudent investment for businesses seeking to minimize operational costs and reduce their carbon footprint. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Construction
  • Automotive
  • Solar glass
  • Others
• Type
  • Float glass
  • Sheet glass
  • Rolled glass
• Geography
  • APAC
    • China
    • India
    • Japan
  • Europe
    • UK
  • North America
    • US
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Demand from solar energy sector
• Increasing demand for flat glass from automotive industry
• Investments in construction projects globally

However, the market also witnesses some limitations, which are as follows:

• High cost of flat glass
• Availability of low-cost and efficient substitutes for flat glass
• Fluctuations in raw material prices

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Market Scope in Flat Glass Market Research Report

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Research Analysis Overview

The Flat Glass market encompasses various types, including Annealed Glass, Coater Glass, Reflective Glass, and Processed Glass, primarily used in Building and Construction and Solar applications. Solar capacity expansions in the Construction sector, driven by floating solar farms and solar panels, fuel the demand for Solar Glass. Automotive production also utilizes Flat Glass, particularly in Electric Vehicles. Innovations in Glass Technology, such as energy-efficient coatings, are spearheaded by industry leaders like Guardian Glass. Environmental regulations and Green building practices further propel the industry's growth.

Market Research Overview

In the expansive construction materials industry, the flat glass segment is a significant contributor, encompassing products such as annealed glass, coater glass, reflective glass, and processed glass. This sector caters to various industries, including building and construction, solar glass, automotive production, and electronic displays. The parent construction materials market, which includes manufacturers and providers of chemicals, construction materials, containers and packaging, metals and mining, and paper and forest products, is experiencing substantial growth. This growth is primarily driven by the burgeoning building and construction sector, which has witnessed robust expansion in recent years and is projected to continue this trend in the foreseeable future.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/