Tinted Glass Segment is Expected to be Fastest Growing During Forecast Period for SAM Region
According to The Insight Partners market research study on “SAM Float Glass Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application” is expected to reach US$ 5,436.69 million by 2028 from US$ 3,873.83 million in 2021. The market is estimated to grow at a CAGR of 5.0% from 2021 to 2028. The report provides trends prevailing in the SAM float glass market along with the drivers and restraints pertaining to the market growth. Increase in demand from building & construction industry and rise in preference for float glass in electronic industry are the major factor driving the growth of the SAM float glass market. However, volatility in prices of raw materials hinders the growth of SAM float glass market.
In case of COVID-19, SAM is highly affected especially Brazil, followed by Argentina, Peru, Chile, and Ecuador among others. The government of South and Central America has taken an array of actions to protect its citizens and combat the spread of the COVID-19 virus through lockdowns, trade bans, and travel restrictions. This may have a direct impact on the growth of the float glass market due to significant disruptions in terms of sourcing of raw materials from suppliers as well as temporary closures of manufacturing base due to indefinite lockdowns and temporary quarantines. However, the demand for float glass is expected to increase in the region as the economies are recovering and vaccination drives are being adopted.
The SAM 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 same 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 Brazil, Argentina, and rest of SAM.
AGC Inc.; Guardian Industries Holdings; Nippon Sheet Glass Co., Ltd; SCHOTT AG; and Xinyi Glass Holdings Limited are among the leading companies in the SAM 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, The NSG Group has collaborated with Cohda Design Limited (UK) to create new electrically conductive glass that delivers power to devices without the need for wires. The collaboration is expected to have a vast array of applications for designers, architects and engineers to locate powered devices within transparent structures.
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