The float glass market was valued at US$ 73,897.83 million in 2020 and is projected to reach US$ 1,07,991.35 million by 2028; it is expected to grow at a CAGR of 5.0% from 2021 to 2028.
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.
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Float Glass Market: Strategic Insights
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 Forecast Period 2021-2028 Base Year 2021
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Float Glass Market: Strategic Insights
| 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 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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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.
Global Float Glass Market, by Region 2020
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Increase in Demand from Building and Construction Industry
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.
Type Insights
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.
Float Glass Market, by Type – 2020 and 2028
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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.
Report Spotlights
- Progressive trends in the float glass industry to help players develop effective long-term strategies
- Business growth strategies adopted by companies to secure growth in developed and developing markets
- Quantitative analysis of the global float glass market from 2019 to 2028
- Estimation of the demand for float glass across various industries
- Porter analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
- Recent developments to understand the competitive market scenario and the demand for float glass
- Market trends and outlook coupled with factors driving and restraining the growth of the float glass market
- Understanding regarding the strategies that underpin commercial interest with regard to global float glass market growth, aiding in the decision-making process
- Float glass market size at various nodes of market
- Detailed overview and segmentation of the global float glass market as well as its industry dynamics
- Float Glass market size in various regions with promising growth opportunities
Float Glass Market, by Type
- Clear Glass
- Tinted Glass
- Textured Glass
- Others
Float Glass Market, by Application
- Automotive and Transportation
- Building and Construction
- Electronics
- Others
Company Profiles
- 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
- Qingdao Migo Glass Co. Ltd
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Application, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
On the basis of geography, Europe region is the fastest growing region in the global float glass market during the forecasted period. The growth can be attributed growing automotive and building and construction industry. Along with this, Europe is one of the largest producers of flat glass including float glass as well. The presence of large numbers of float glass manufacturing sites across the European region is helping the float glass market to grow.
Rise in Preference for Float Glass in Electronic Industry is one of the key drivers for the growth of the global float glass market. There has been a rising preference for float glass in the electronic industry worldwide due to its various benefits. Through a series of processing on float glass, including cutting, coating, drilling, grinding, and screen printing, the glass can be used for electronic or electric equipment such as LCD screen, touch screen, advertising machine screen, flat panel, and electromagnetic oven.
On the basis of type, the clear glass segment led the global float glass market in 2020. Clear float glass is a super smooth, distortion-free glass used for production and designing other glass items, including laminated glass and heat-toughened glass. It has unique features such as uniform thickness, high optical quality, excellent surface finishing, and bright appearance. Clear float glass is made up of molten glass, which flows through tweel to a tin bath and then to the lehr. The clear windows are suitable for glazing windows and doors in various sizes and thicknesses. It is used in windows and doors, mirrors, curtain walls, shelving and display cases, skylights, atriums, and handrails. The clear float glass provides optical clarity, high light transmission, and stable chemical properties.
Based on application, the building and construction segment is anticipated to account for the largest share in the global float glass market. Clear float glass, tinted float glass, and textured float glass are used in residential and commercial applications such as windows and doors for aesthetic and functional purposes. The increase in the use of the glass in interior design and architecture has played a major role in increasing the demand of float glass along with being used towards the ceiling, flooring, reflective, coated, windows, mirrors, tabletops, and insulated glass.
The major players operating in the global float glass market are AGC Inc., CARDINAL GLASS INDUSTRIES, INC., Nippon Sheet Glass Co., Ltd., China Glass Holdings Limited., Guardian Industries Holdings., SHENZHEN SUN GLOBAL GLASS CO., LTD., Saint-Gobain Glass India., SCHOTT AG., QINGDAO MIGO GLASS CO.,LTD., and Xinyi Glass Holdings Limited, amongst ohers.
During the forecast period, Asia Pacific is the dominating region for float glass market over the forecast period. The growing building and construction industry along with the increasing projects related to the field of renewable energy source and development of solar industry is driving the growth of float glass market in Asia Pacific region. Asia-pacific region especially China, Japan and India are expected to increase the demand for float glass as compare to other geographical regions which is due to an expanded and established automotive, building and construction sector in this region. Along with this, increasing manufacturing industries coupled with growing industrialization which offers ample opportunities for key market players in the float glass market. Presence of various domestic and international players in the region will increased the focus of manufacturers on providing innovative products leading to increased opportunity for the float glass market top grow
The List of Companies - Float Glass Market
- AGC Inc
- CARDINAL GLASS INDUSTRIES, INC
- Nippon Sheet Glass Co., Ltd
- China Glass Holdings Limited
- Guardian Industries Holdings
- SHENZHEN SUN GLOBAL GLASS CO., LTD
- Saint-Gobain Glass India
- SCHOTT AG
- QINGDAO MIGO GLASS CO.,LTD
- Xinyi Glass Holdings Limited
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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