Clear Glass Segment to Dominate North America Float Glass Market During 2021–2028
According to The Insight Partners market research study on “North America Float Glass Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application” is expected to reach US$ 20,591.82 million by 2028 from US$ 14,435.21 million in 2021. The market is estimated to grow at a CAGR of 5.2% from 2021 to 2028. The report provides trends prevailing in the North America float glass market along with the drivers and restraints pertaining to the market growth. Growing demand from building & construction industry and rising preference for float glass in electronic industry are the major factor driving the growth of the North America float glass market. However, fluctuation in prices of raw materials hinders the growth of North America float glass market.
In case of COVID-19, North America is highly affected specially the US. This has negatively impacted the overall manufacturing processes, research, and development activities. However, on May 26, 2021, 288 million doses have been given so far administered in the US, and the governments are also planning to revive their operations soon. Slowly and gradually manufacturing units are being operationalized and various industries are recovering which will have a positive impact on the float glass market. For instance, the construction activities in the US are deemed as an essential service. In particular, the US saw an increase in residential construction activities in 2020 and according to the U.S. Census Bureau, new private home projects were up 6.7% over 2019, a trend that is expected to continue. Thus, the recovering construction and automotive industries will increase the demand for float glass in the upcoming years.
The North America float glass market is segmented based on type, application, and country. By type, the market is bifurcated into clear glass, tinted glass, textured glass, and others. The clear glass segment dominated the market in 2020 and tinted glass segment is expected to be fastest growing during forecast period. By application, the market was segmented into automotive and transportation, building and construction, electronics, and others. The building and construction segment dominated the market in 2020 and automotive and transportation segment is expected to be fastest growing during forecast period. Based on building and construction, the market is segmented into residential, commercial, and industrial. Based on country, the market is segmented into the US, Canada, and Mexico.
AGC Inc.; Cardinal Glass Industries, Inc; Guardian Industries Holdings; Nippon Sheet Glass Co., Ltd; SCHOTT AG; and Xinyi Glass Holdings Limited are among the leading companies in the North America float glass market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Nippon Sheet Glass Co., Ltd has successfully manufactured architectural glass at its facility in the UK, by using hydrogen power. The new float glass production process is expected to reduce carbon emissions.
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