Publication Month: Dec 2021 | Report Code: TIPRE00011874 | No. of Pages: 157 | Category: Chemicals and Materials | Status: Published
Float glass is an extremely smooth and distortion free glass which is being used in various end-use industries such as building and construction, automotive, electronics, solar, among others. It is basically made by pouring the molten glass from the furnace into a chamber which contains a bed of molten tin. The increase in the use of float glass in interior design and modern architecture has played a major role in increasing the demand of float glass and are used in other building and construction applications which includes ceiling, flooring, reflective, coated, windows, mirrors, tabletops, and insulated glass. In addition, the growing use of float in automotive applications is expected to drive the float glass industry over the forecasted period.
In 2020, Asia Pacific accounted for the largest share in the global float glass market. The increasing development of the automotive sector and the building and construction sector is driving the demand for float glasses in the region. The vast established automotive sector in countries such as China and India is also increasing the demand for float glasses in these countries. Along with this, the development and the increased penetration of solar industry in Asia Pacific is driving the growth of the float glass market in the region.
|Market Size Value in||US$ 73,897.83 million in 2020|
|Market Size Value by||US$ 1,07,991.35 million by 2028|
|Growth rate||CAGR of 5.0% from 2021 to 2028|
|No. of Pages||157|
|No. of Tables||86|
|No. of Charts & Figures||80|
|Historical data available||Yes|
|Segments covered||Type, Application, and Geography|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
The shutdown of various manufacturing plants and factories in North America, Europe, Asia Pacific, South America, and the Middle East & Africa due to the COVID-19 pandemic has hampered the global supply chain and manufacturing processes, delivery schedules, and product sales. In addition, the restrictions imposed by countries in Europe, Asia, and North America are affecting business collaboration and partnership opportunities. The ongoing COVID-19 pandemic has had a significant impact on the float glass market. The disruptions in the production and supply chain have had a negative impact on the float glass market. The glass shortfall is expected to last until 2021, causing disruptions in a variety of businesses. Glass supply is tightening and has become more costly to purchase because of a various issue, including the worldwide pandemic and international tariffs. As a result of the global pandemic, many factories and manufacturers have had to suspend or slow down glass production, making it exceedingly difficult to satisfy current demands. Restarting the factories after being closed or producing at a low level for an extended period of time may be exceptionally challenging, especially if the companies aren't operating at full capacity owing to health and safety regulations. Further, with COVID-19 vaccinations being a high priority for both the public and the health business, the availability of glass has been redirected to the cause which has led to the unavailability of glass for other industries, thus creating shortage of glass in the market.
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Float glass is manufactured through a melting process, where recycled glass, lime, silica sand, potash, and soda are melted in a furnace and floated onto a bed of molten tin. Float glass is being increasingly used in the building & construction industry, which includes the residential, commercial, and industrial sectors. Float glass has a high degree of light transmission, the ability to produce a range of colors and opacities, and good chemical inertness, which increased its demand from the construction industry. The float glass is used for windows and doors in the residential sector, serving both aesthetic and functional applications. It is also being increasingly utilized in interior design and modern architecture. In the commercial sector, float glass is in demand as it provides an attractive and easy-to-maintain exterior surface. Float glass offers light and heat transmittance, influencing the amount of heating and cooling required inside a building according to different seasons and climates. The float glass is also being used as display windows in the retail outlets due to its transparent nature, hardness, and ease of cleaning. Due to the rise in environmental concerns, there has been an increased demand for float glass in the construction industry as it helps in achieving Leadership in Energy and Environment Design (LEED) certification for residential and commercial constructions. The rise in consumer awareness about the safety of buildings and an increased focus on maintaining the government's building codes are expected to increase the demand for float glass further. Thus, the increasing demand for float glass from the building & construction industry will fuel the growth of the float glass market during the forecast period.
Based on type, the float glass market is segmented into clear glass, tinted glass, textured glass, and others. The clear glass segment held the largest share in the market in 2020. Clear glass is a float glass, which is transparent and free from defects and optical distortions. Clear float glass provides superior quality when compared to other types of float glasses due to its unique characteristics, such as improved surface finishing, uniform thickness, high optical quality, flatness, and bright appearance. It is applied in areas requiring high visibility and clarity, such as windows, doors, mirrors, greenhouse, skylights, appliances, and solarium. As clear glass is free from any optical distortions or small defects, it allows a perfect view. The glass is also used for further processing to produce other glass types.
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A few of the key market players operating in the float glass market are AGC Inc.; Nippon Sheet Glass Co., LTD (NSG Group); Xinyi Glass Holdings Limited; SCHOTT AG; Guardian Industries Holdings; Cardinal Glass Industries, Inc.; China Glass Holdings Limited; Shenzhen Sun Global Glass Co. Ltd.; Saint Gobain Glass India; and Qingdao Migo Glass Co. Ltd. Major players in the market are adopting strategies such as mergers & acquisitions and product launches to expand the geographic presence and consumer base.