Europe flat glass market size led by Germany, Italy and Russia anticipates growth at over 5.5% due to its expanding automotive industry and presence of major automobile manufacturers in the region.
Sellbyville, DE -- (SBWIRE) -- 12/12/2018 -- The qualitative research study conducted by Global Market Insights, Inc. titled "Flat Glass Market" provides primary Data, surveys, Scope of the Product and vendor briefings. The market dynamic forces have been determined after conducting a detailed study of the Global Flat Glass Market.
Flat Glass Market size will surpass USD 130 billion by 2024; according to a new research report by Global Market Insights, Inc. Strong outlook towards increase in automotive production meeting the global demand owing to rise in middle class income level and consumer preference for luxury automobile should propel flat glass demand. Positive application scope for increasing usage in manufacturing windshields & window for cars and in sunroof for aesthetic appearance should drive product demand.
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The emerging advancements in the tech cosmos such as LEDs and laser technology have had a positive impact on flat glass market. In consequence, companies partaking in flat glass industry share have been tapping novel technologies to bring forth a range of products for consumers. For instance, SCHOTT Gemtron, the renowned North American flat glass manufacturer of household appliances, has scarcely announced the deployment of laser technology at its plant to increase the overall productivity of glass tablets.
The implementation of next-generation technologies will thus help flat glass market giants to sustain the fierce competition in the business. Apart from household applications, flat glass is prominently used for construction, renewable energy, and automotive applications as well. Regional governments have been continually encouraging companies to adopt renewable energy sources and recycling methodologies, which would have a positive influence on flat glass industry trends over the years ahead.
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In order to accomplish its plan of establishing a solar PV plant of capacity 105 GW, China plans to first install solar PV cells of 54 GW by the of 2017. Since 2013, China has garnered high prominence in solar market with a huge number of solar PV power plant installations. In addition, under the poverty alleviation program, the Chinese government has been providing subsidies for rural communities to implement solar panels on residential rooftops. The exponential growth in solar market across China will thus prove to be beneficial for flat glass industry biggies, thereby impelling the overall revenue of this business space.
Recently, in 2017, HDB launched a tender for the installation of solar panels across eight governmental agencies including the Institute of Technical Education, Building and Construction Authority, Sport Singapore, and National Heritage Board under SolarNova Programme. This program is apparently led by the Housing and Development Board and Singapore Economic Development Board (EBD), and the complete installation of solar PV systems is likely to be accomplished by 2020. The increasing installation of solar panels across Singapore to fulfill the surging need for reliable energy sources will thus fuel the regional flat glass industry share over the years ahead.
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A few months ago, the European Union had promised to provide a fund of USD 4.2 billion for 14 renewable energy projects across African countries. These projects include geothermal and grid upgrades, rural electrification, many other large-scale solar projects, which encompass planned solar plants at Chad (30 MW), Nigeria (100 MW), Niger (30 MW), and Benin (13 MW). In fact, these African countries are inviting investors, developers, energy companies, and suppliers to successfully complete their goal of producing 300 GW of renewable energy by 2030. Considering the expanse of this lucrative business prospect, it goes without saying that Africa flat glass market would witness commendable gains in the years to come.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.