SAN FRANCISCO, May 15, 2018
SAN FRANCISCO, May 15, 2018 /PRNewswire/ --
The global flat glass market size is expected to reach USD 124.14 billion by 2022, according to a new report by Grand View Research, Inc., posting a CAGR of 7.1% during the forecast period. Robust growth of the building and construction sector in developing countries is expected to be a key factor propelling the market.
Glass is increasingly being used in construction applications. Tempered glass, in particular, is being employed in roofing applications as well as in manufacturing of glass windows. In developing countries, tempered glass is replacing standard glass in roofing applications on account of its high strength properties.
Furthermore, numerous car manufacturers employ tempered glass in production of windows for automobiles. Its increasing adoption can be attributed to its tendency of not breaking into small parts as opposed to standard glass, which leaves back sharp pieces on breakage, which could lead to serious human injuries and possible life threats.
The commencement of 12th Five Year Plan of Civil Aviation Administration of China (CAAC) resulted in construction of 56 new airports and expansion of 16 airports, thereby boosting the construction sector in the country. China's sustained demand for industrial, residential, and infrastructural expansion has generated substantial demand for flat glasses.
Strong economic growth coupled with removal of barriers for foreign investment in India is expected to spur construction demand over the coming years. Vietnam and the Philippines are also becoming increasingly attractive markets owing to rising population, rapid urbanization, and strong economic growth.
Soda ash and silica sand are the key raw materials used in manufacturing of flat glass. Natural gas is a dominant fuel used in glass production. Turbulence in price and availability of natural gas is a major factor deterring the growth of the market.
Browse full research report with TOC on "Flat Glass Market Size, Share & Trends Analysis Report By Product (Tempered, Laminated, Basic Float, Insulating), By Application (Automotive, Construction), By Region, And Segment Forecasts, 2012 - 2022" at: https://www.grandviewresearch.com/industry-analysis/global-flat-glass-market
Further Key Findings From the Report Suggest:
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Grand View Research has segmented the global flat glass market on the basis of product, application, and region:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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