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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.
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.
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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
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
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.
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.
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