Tempered Flat Glass Account for Largest Segment in Global Glass Market
Posted on 03 April 2017 by KenResearch Manufacturing And Construction,
In the era of globalisation and modernisation of technology, glass industry is growing and evolving continuously, with the new forms of production and establishment of different industrial policy.
The glass industry basically comprises of five different sectors which covers different glass products and their applications:
- Container glass
- Flat glass
- Continuous filament glass fibre
- Domestic glass
- Special glass
In glass market the investment is generally feasible for the new innovative projects making it ideal source of information for manufacturers, suppliers, distributors, customers, investors and individuals who have interest in this market
According to Ken Research, a market research firm, Glass industry is totally based on globalisation, transformation and distribution but in the present market condition the cost of transportation is actually making the condition for flat and container glass uneconomic. According to the source, more than 90% of the glass products are sold to other industries. Therefore Glass manufacturing is significantly dependent on the building construction sector, car manufacturing and the food and beverage industry.
The European Union is the world’s largest market for glass both in terms of production and consumption. The glass manufacturing industry is highly concentrated.
Ken Research is its study “
Global Advanced Glass Market Status, 2011-2022 Market Historical and Forecasts, Professional Market Research Report” says, Glass industries are now focusing on emerging nations like Asia Pacific because of the urbanization, growth in the industrial sector and increasing investment by flat glass manufacturers. Asia pacific is expected to witness the significant growth because of the significant increase in per capita income and the strong housing demand. With the rapid industrialization and increase in the construction spending by the emerging nations will drive the growth of glass industry in the neartimes. India, China and Japan were major participants in the Asia Pacific region with over 40% of the total revenues in 2014.
Tempered flat glass market is the largest product segment which is expected to grow because of the usage in the automotive manufacturing by 2022. Argentina, Brazil and Chile will be major contributors due to rapid expansion in their vehicle manufacturing industry India‘s flat glass market share is expected to witness a handsome growth due to the increasingforeign direct investment. With the huge availability of raw material with rising commercial facilities would favour the flat glass market in near terms.
Glass market is highly concentrated and the growing consumer awareness will also complement the industry’s outlook .glass industries are focusing on emerging nations due to the various macro-economicfactors. Glass market is going to be a huge success in the near time which will witness new players in the market with more innovative techniques and material.