The installation of glass for automobile windows, doors, roofs, backlights, vents, and windshields to reduce the overall vehicle weight have significantly influenced the global automotive glass industry.
Sellbyville, DE -- (SBWIRE) -- 06/17/2019 -- A significant trend proliferating flat glass industry growth lately, is the introduction of green buildings, which constitutes environment friendly and sustainable construction materials. Additionally, intrusion of nanotechnology in manufacturing of hybrid guide plate and solar control glazing glass will further influence the flat glass industry landscape over the coming years. Driven by the robust demand form the construction and automotive industry, in tandem with new product developments, flat glass market is touted to traverse alongside a highly profitable growth path over 2017-2024.
Europe is chronicled among the most remunerative regional belts of the market, owing to the soaring construction industry and robust industrialization trend. The Europe flat glass market is also set to accumulate lucrative proceeds on account of the expanding regional automotive sector, that is likely to be the most profitable growth ground ushering Europe flat glass industry to make strong headway in the near future.
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Flat glass finds extensive application in the construction sector in replacing the conventional bricks, stone, and wood architecture. Growth in the commercial and residential projects along with shifting preferences toward natural insulation, safety & security will quite substantially boost the demand for flat glass products, especially across Europe and APAC. In effect, it can be professed that the rising construction activities across the globe will serve as a key growth contributor toward the overall flat glass market share. In addition, industry analysts reveal that the recyclable and eco-friendly nature of flat glass products will further catalyze the market growth.
According to 2016 production statistics, Germany recorded a total commercial vehicle sale of 315,754 and total car sale of 5,746,808 units. This goes to prove that, the rising number of automotive sales in the region is likely to fuel market share. Thus, with the soaring regional automotive industry and the contribution from economies such as Italy, Germany, and Russia, analysts anticipate Europe flat glass market to record a CAGR of 5.5% over 2017-2024.
The installation of glass for automobile windows, doors, roofs, backlights, vents, and windshields to reduce the overall vehicle weight have significantly influenced the global automotive glass industry. Increasing application scope of flat glass in various types such as tempered, insulated, and laminated, for automotive safety should promote product demand, in turn favoring the growth of flat glass market share. Presence of major automobile manufactures in Europe with growing emphasis on the use of energy efficient and environmentally viable technologies have also uplifted the growth of regional market.
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It is prudent to mention that despite having a highly profitable roadmap in the years ahead, flat glass market share might suffer due to the fluctuating prices of the raw materials used in flat glass manufacturing. The instable prices of soda ash, silica sand and other glass raw materials will have a marginal impact on market revenue. However, to address the soaring demand from the glass industry, regions such as China, Europe, and North America are emphasizing on bulk production of these raw materials.
One of the most commendable precedents that flat glass market has observed in recent times is the initiative undertaken by the Malaysia based company – Crystal Safety Glass for the enhancement of its product line. Incidentally, the firm has posed quite a challenge to prominent players of flat glass industry by replacing all its outdated components with state-of-the-art technologies, thereby reinforcing its flat glass lamination product pipeline. Crystal's efforts to augment its product range has been forecast to have quite a profitable impact on the regional flat glass market landscape. The progressive pathway traversed by flat glass industry can be quite vividly depicted from the recent estimates, which claim the business space to exceed USD 130 billion by 2024.
The Flat Glass market report offers detailed competitive landscape of the global market. It includes companies, industry statistics, market share analysis and product portfolio of the major industry participants. The report provides detailed segmentation of the Flat Glass market based on product, technology, end user and region.
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