Significant acceleration in construction activities, followed by developing automobile and solar power sectors, will drive the demand for float glass in the forecast period (2019-2029). The global float glass market was valued at US$ 100 Bn in 2018 and is projected to exhibit a robust CAGR during the forecast period.
The global float glass market growth is predominantly shaped by building and construction, automobile, and solar power industries, owing to extensive usage of float glass products in these industries. Around 20% use of recycled glass in manufacturing of float glass makes it viable and economical for production, resulting in gradual push from supply side of the market.
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- End-use industry players such as building and construction seek more sustainable products to develop new creative structures in line with the industry standards as well as government rules and regulations.
- Clear type float glass is expected to be highly preferred over other categories such as tinted and wired, given its low installation cost.
- New float glass is equipped with adequate energy-efficient glazing technologies, offering insulation against the cold and avoiding over-heating in hot and warm conditions. This new glazing technology is a key factor that will positively impact the growth of the global float glass market.
- Rising need to curb emission levels is likely to drive solar PV glass usage in the solar power sector, along with the automobile sector.
- East Asia is projected to be a prominent regional market for float glass owing to the growing construction, automotive, and solar sectors, especially in China. Moreover, growing government tie-ups with private organizations to initiate multiple new solar power projects in Thailand and India are anticipated to amplify the demand for float glass in South Asia.
- Top manufacturers are recycling base glass for manufacturing new float glass, which will result into minimized usage of raw materials. It will also lead to reduced carbon dioxide emissions into the atmosphere and is expected to remain a prominent trend among float glass manufacturers.
While demand for float glass is primarily driven by new building and construction projects, as well as solar plants, replacement of existing traditional glass also contributes to the growth of the market. Product consultancy and float glass installations are expected to play key roles in the value chain of the market.
Growing Emphasis on After sales Services
The global float glass market is fairly fragmented, with smaller manufacturers offering identical products. Moreover, the increasing number of players in the float glass market has been driving the manufacturers to incorporate forward integration in terms of services, by offering installation, product consultancy and after sales support. This will help the build-up of existing market base, which will result in occupying the growing aftermarket client base. Growing focus on providing aftersales services will be the winning strategy for manufacturers. Some of the key participants with a substantial market share in the float glass market report are AGC Inc., LTD, Nippon Sheet Glass Co., Ltd.
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The building and construction Industry will continue to be the prime application area for the float glass market globally, followed by automotive, solar panels/solariums, electronics and appliances, and mirrors. As glass carries minimal environmental impact, new applications of glass in buses, trucks, and trams, along with photovoltaic panels are anticipated to drive the demand for float glass. Aftersales service is extremely vital in gaining customer confidence, as float glass has significant demand in the automotive aftermarket.
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