Global panel glass market is expected to grow at a significant rate during the forecast period of 2019–2026.
Panel glass market is expected to grow owing to increase in construction activities, rising investments in infrastructure developments from the government as well as from private and international investors in developed and developing markets and rising production of automotive. There has been a substantial rise in restoration activities and in renovation of both private and public properties which is expected to increase the sales of panel glass as the existing structures are less energy efficient. Additionally, there has been a rise in demand for solar panels, photovoltaic and e-glass modules owing to increase in requirement of clean energy due to rising awareness in controlling pollution is expected to propel this market. For instance, installation of photovoltaic capacities for solar power were comparatively greater than installations for any other power source. Moreover, According to United Nations Environment Programme, around 98 Giga Watts of power generation capacity was added globally in the year 2017 and the power generated by solar energy was around 2% of the global power output.
Additionally, the automotive industry too has been witnessing significant growth owing to increase in the number of production and selling of vehicles. According to Organisation Internationale des Constructeurs d’Automobiles, in the year 2017, the total number of vehicles sold were around 97 million. These factors are expected to provide significant boost to panel glass market.
Global Panel glass market is segmented into technology, product type and application.
On the basis of technology, panel glass market segmented as sheet, rolled, float. Float technology segment is expected to witness significant growth rate owing to its application in manufacturing tinted and coated glass for buildings and vehicles. Rolled glass technology segment too is expected to witness significant increase in this market owing to its use in manufacturing solar panels.
Based on product type, panel glass market is classified into toughened glass, laminated glass, basic float glass, extra clear glass, coated glass, others. Float glass segment is expected to witness significant growth owing to its use as a basic starting material to manufacture laminated, toughened and coated glass. Toughened glass segment too is expected to witness considerable growth owing to its high durability. However, it cannot be re-cut and re-shaped after toughening, and this can slow down the growth of this segment.
On the basis of application, panel glass market is further segmented into solar energy, transportation & automotive, infrastructure & construction, others. Infrastructure & construction segment is expected to dominate the market followed by transportation and automotive segment. This is owed to factors such as increase in demand for affordable yet energy efficient housing and increase in global trading which has given rise to the need of transportation.
Geographically, the global panel glass market is segmented into four regions: North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa (LAMEA).
Asia Pacific market is expected to witness exceptional growth in panel glass market. This is owed to factors such as increase in activities related to construction and automotive in which panel glass is used to either provide aesthetic value to the building or to the automobile. India’s construction market is expected to grow significantly owing to various schemes such as affordable housing loans for populations below a certain level of income. Additionally, there have been investments of up to USD 1trillion from 2012–2017 in various infrastructure projects in India. Moreover, China too has been registering significant growth in construction sector owing to increasing population and rising disposable income. According to India Brand Equity Foundation, China also boasts of consuming highest number of vehicles, with the total number of vehicles sold in China standing at around 27 million units in 2017. Japan and India too registered impressive numbers of 5 million and 4 million units of vehicles sold in the same year.
North America is expected to witness significant growth in panel glass market. This is owed to factors such as presence of economically stable nations such as Canada and USA in this region. The construction market in USA is expected to witness significant growth owing to increasing sales in the construction sector in 2017. This is attributed to presence of notable construction companies and technological advancements. Additionally, USA has one of the largest areas under LEED (Leadership in Energy and Environmental Design) certified buildings. Number of projects, certified by LEED in green building rating, in the USA was around 27600 in the year 2016. The number was 2586 for Canada in the same year. These factors are expected to be positive for the growth of this market.
Europe is expected to witness considerable growth in panel glass market. Panel glass are used in automotive and in transport vehicles as tinted glasses for protection against UV rays and making the vehicle energy efficient. Presence of prominent automobile manufacturing companies in Europe is expected to contribute significantly to this market. For instance, the data provided by European Automobile Manufacturer Association, automobile exports from Europe in the year 2016 were valued at around USD 397 billion.
LAMEA is expected to witness healthy growth in panel glass market. Imports of cars to Latin America in 2016 were increased, making it one of the notable consumers of cars. There have been significant initiatives by the government in Saudi Arabia in attracting foreign investors in various infrastructure projects. These developments are expected to positively impact the panel glass market.
Some of the key players in panel glass market are Asahi Glass, Saint-Gobain, Nippon Sheet Glass, Guardian Industries, Taiwan Glass, Central Glass, Sisecam Group, Vitro S.A.B. de C.V., CSG Holding Co., Ltd., Fuyao Glass Industry Group, China Glass Holdings Limited, Xinyi Glass Holdings Limited, Cardinal Glass Industries, Euroglas GmbH, China Luoyang Float Glass Group, Trulite Glass & Aluminum Solutions, and Schott AG, Scheuten Glass Holding B.V..
Asahi Glass, Saint-Gobain, Nippon Sheet Glass, Guardian Industries, Taiwan Glass, Central Glass, Sisecam Group, Vitro S.A.B. de C.V., CSG Holding Co., Ltd., Fuyao Glass Industry Group, China Glass Holdings Limited, Xinyi Glass Holdings Limited, Cardinal Glass Industries, Euroglas GmbH, China Luoyang Float Glass Group, Trulite Glass & Aluminum Solutions, and Schott AG, Scheuten Glass Holding B.V.. are the top players in Panel Glass Market.