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Overview
Float Glass Market is forecast to
reach $37.79 billion by 2025, after growing at a CAGR of 4.59% during 2020-2025. Increasing global warming environmental concerns are expected to lead to high
demand as it aids in achieving LEED (Leadership in Energy and Environment
Design) certification residential and commercial buildings. Due to the simple
application and superior esthetics of the product's increased use in the construction sector, market growth in the forecast period is anticipated to
increase. In the projected timeframe, increased consumer awareness of safety in
buildings and increased focus on building codes are estimated to further boost
demand.
Report Coverage
The “Float Glass Market Report – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Float Glass Market.
Key Takeaways
- The increased use of this product in the interior design and architecture has been an important factor in increasing the demand for ceilings, floors, reflection, windows, mirrors, tiles and insulated glass.
- The growth of the market is driven by rising disposable income coupled with industrialization primarily in emerging economies.
- Technology rapidly replaced plate and sheet installations. With the aid of improved safety elements such as the addition of an interlayer foil to the sheets to hold it in place in the event of breakage. Further, enhances the demand for Float Glass during the forecast period.
- In addition, the increasing usage of this the component enables higher light transmission which reduces architectural heat gain, which is expected to drive demand on the market.
- The growing population is driving the Borosilicate Glass Market, increasing urban development and increasing consumption through home appliances.
Raw Material - Segment Analysis
The sand segment held the largest
share in the Float Glass Market in 2018 Float glass is made up of raw
materials, 73% of sand (silicon dioxide), 15% soda (sodium carbonate), 10% of
limestone (calcium carbonate) and 2% of various additives that are melted in a
furnace and floated on a bed of molten tin.
Glass Type - Segment Analysis
Laminated Glass segment held the
largest share in the Float Glass Market in 2018. Laminated glass is made by
pouring a resin into the space between two sheets of glass that are held
parallel and very close to each other. It is basically produced for special
purposes. It is having various advantages such as it is best known for security
and reduces the safety hazard related to shattered glass fragments as well as
to some degree, the security risks associated with easy penetration. Interlayer
feature of the glass provides a way to apply several other technologies and
benefits, such as coloring, sound dampening, and resistance to fire,
ultraviolet filtering and other technologies that can be embedded in or with
the interlayer. It is mainly used in building and residential products as well
as it is quite known as the transportation industry.
End-Use Industry - Segment Analysis
Construction
& Infrastructure sector has been the primary market for Float Glass for
many years is growing at a CAGR of 4.01%. As Float and plate Glass has a wide
range of applications in this sector, the market is estimated to record
significant changes in respective countries. The top countries in the
Construction & Infrastructure industry are expected to boom over the next
five years. Americas and Europe are estimated to continue to emerge in the
global glass landscape. Construction & Infrastructure end-user further
segmented into retail stores, restaurants and hotels, airports, hospitals, arts
and exhibition centers, shopping malls, and others. Airports are the largest
segment with a share of 22.7% followed by restaurants and hotels with 21.2%,
and retail stores with 20.2%. An increase in spending on commercial construction especially
in developing countries such as China, India, and South Korea, will
increase the demand for Float Glass. Commercial construction will continue to
grow in the future. With more consumer spending and governmental investments in
tourism, office buildings, and retail space, commercial construction businesses
will reap the rewards.
Geography - Segment Analysis
APAC dominated the Float Glass
Market share with more than 38.9%, followed by North America and Europe. The economy of
APAC is mainly influenced by the economic dynamics of countries such as China
and India, but with growing foreign direct investment for the economic development
of South East Asia, the current scenario is changing. In the developing region
such as APAC, the expansion of the construction industry contributes to the
growth of Float Glass Market. The Asia Pacific construction industry is worth
$4.95 trillion (excluding India) and is expected to reach $5.45 trillion by 2021
according to ENG Cranes. The healthy economic growth in APAC had risen the
construction activities in the region.
By 2020, one half of
global construction spending is expected to come from APAC countries with
China, Indonesia, Japan, South Korea, and Malaysia are exhibiting the highest
growth potential. India is expected to grow at twice the rate of China over the
next decade especially into the infrastructure sector where the government is investing
approximately $376.5 billion over the next three years. Japan’s residential and
infrastructure construction accounts for 28 to 33 percent of construction
activities. Further, the construction activity is expected to rise in the next few
years because of the upcoming Olympic Games.
Drivers – Float Glass Market
- Rapid growth in the global construction sector drives the demand for glass products (interior and exterior), thereby diving the demand for soda-lime ash glass.
Soda-lime ash glass plays a
vital role in glass manufacture by reducing the furnace temperature critical to
melt the silica used. Growth in building products is fuelled by growth in
construction, magnified by an architectural and engineering trend towards
greater use of glass in building facades, for reasons involving not only design
trends, but also environmental protection - exploiting the ability of glass to
capture natural heat and light, and thus reducing the carbon output associated
with heating and electrical power. The industry is continuously developing
new and innovative glass technologies that offer significant and desirable
performance advantages over older products, which will continue to drive the trend of replacing installed glass stock with high-performance products, hence
fueling the demand for soda-lime ash glass.
Challenges – Float Glass Market
- Volatile raw material prices
Glass is an inorganic product
produced by melting a mixture of silica sand, soda ash, limestone, with desired
metallic oxides that serve as coloring agents. Prices of soda ash increased 6%
y-o-y from in April 2017 to April 2018 was the third consecutive month in which
prices had risen. Prices were on a decline from December 2016 to January 2018.
Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Float Glass Market. In 2018, the market of Float Glass has been consolidated by the top five players accounting for xx% of the share. Major players in the Float Glass Market are AGC, Saint Gobain, Guardian, Sisecam, PPG, Cardinal, Central Glass, Taiwan Glass, Xinyi Glass, NSG Group, China Southern Glass, Fuyao, Sanxia New Material, SYP, FARUN, Shahe Glass Group, China Glass Holdings, China Luoyang Float Glass, Qinhuangdao Yaohua, JINJING GROUP, Lihu Glass, Jingniu Glass-Ceramics, among others.