Flat glass products have various applications, due to their versatile properties. Flat glass products are reliable, have an aesthetic appearance, act as barriers to sound & heat, offer weight reduction, and can be used in safety equipment. In the past few years, the use of flat glass products has increased in various end-use industries, such as construction & infrastructure, automotive & transportation, and solar energy. The flat glass market is projected to reach USD 142.05 billion by 2022, at a CAGR of 7.30% between 2017 and 2022.
The flat glass market is driven by the increasing demand from the construction & infrastructure and automotive & transportation sectors, especially in emerging regions. With the increasing number of solar energy installations around the globe, the demand for flat glass is anticipated to increase for the manufacturing of solar panels. The growing demand for residential & commercial infrastructure and the increasing production of automobiles is also expected to drive the growth of the flat glass market in the coming years.
Key companies offering flat glass products adopted investments & expansions and new product launches as key strategies to strengthen their position in the flat glass market. The investments & expansions strategy accounted for a share of 41.2% of all the growth strategies adopted by major leading companies from 2014 to 2017. Leading companies adopted these strategies to improve their distribution channel, increase their presence in developed and emerging countries, and meet customer demands. Companies also adopted the strategy of partnerships, joint ventures & agreements to expand their product reach globally and take advantage of competencies of other companies to compete in the market.
Some of the key global players operating in the flat glass market are Asahi Glass (Japan), Saint-Gobain (France), Nippon Sheet Glass (Japan), Guardian Industries (U.S.), and Taiwan Glass (Taiwan).
