Float Glass Market Size Worth $107.99Bn, Globally, by 2028 at 5% CAGR - Exclusive Report by The Insight Partners

The float glass market size was valued at $73.89 Bn in 2020 and is projected to reach $107.99 Bn by 2028; it is expected to grow at a CAGR of 5.0% from 2021 to 2028.

NEW YORK, Feb. 25, 2022 /PRNewswire/ -- The Insight Partners published latest research study on "Float Glass Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Clear Glass, Tinted Glass, Textured Glass, and Others) and Application (Automotive and Transportation, Building and Construction, Electronics, and Others) and Geography". The float glass market growth is driven by the rise in preference for float glass in electronic industry, increase in demand from building and construction industry, the growing use of float glass in automotive applications.

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Float Glass Market: Competitive Landscape and Key Developments:

AGC Inc., Nippon Sheet Glass Co., LTD (NSG Group), Xinyi Glass Holdings Limited, SCHOTT AG, Guardian Industries Holdings are a few of the companies amongst the major players operating in the float glass market. These companies provide a wide range of product portfolio for the float glass market. These companies have widespread global presence, which provides a lucrative opportunity for market to serve a large set of customers and increase the market share.

Float glass is an extremely smooth and distortion free glass which is being used in various end-use industries such as building and construction, automotive, electronics, solar, among others. It is basically made by pouring the molten glass from the furnace into a chamber which contains a bed of molten tin. The increase in the use of float glass in interior design and modern architecture has played a major role in increasing the demand of float glass and are used in other building and construction applications which includes ceiling, flooring, reflective, coated, windows, mirrors, tabletops, and insulated glass. In addition, the growing use of float in automotive applications is expected to drive the float glass industry over the forecasted period.

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Growing Applications of Float Glass in Solar Industry:

In recent years, there have been various technological advancements. Also, there has been an increase in the trend of using float glass in the solar industry. The manufacturers are providing highly scalable and reliable float glass for the solar industry. For instance, AGC provides ultra-low-iron solar float glass with a highly robust and durable anti-reflecting coating. The company offers float glass of 2 mm to 4 mm front and rear panels for the latest glass-glass photovoltaic modules. Along with this, Pilkington provides Pilkington Optiwhite, a range of extra clear low iron float glass having high solar transmittance, providing improved solar energy conversion and consistent performance. The low iron float glass is ideal for thin-film photovoltaics, crystalline silicon photovoltaics, concentrated solar power technology, solar thermal collectors, and solar mirrors. Along with this, the manufacturers are focusing on establishing float glass manufacturing capacities for the solar industry. Thus, an increasing trend of using float glass in the solar industry is expected to drive the market in the coming years.

Float Glass Market: Segmental Overview

Growing technological advancements in float glass manufacturing have increased the focus on manufacturing ultra-thin float glass used in electronics. AGC has developed ultra-thin sheet float glass to be used in next generation displays, lighting, and touchscreens. The flat glass has to go through a series of processing which includes cutting, coating, drilling, grinding, and screen printing. The glass can be used for electronic or electric equipment such as LCD screen, touch screen, advertising machine screen, flat panel, and electromagnetic oven. Along with this, the coating of metallic oxides will help in reducing the light reflectivity and assist in providing the necessary electrical conductivity for the glass screen.

Impact of COVID-19 on Float Glass Market:

The shutdown of various manufacturing plants and factories in North America, Europe, Asia Pacific, South America, and the Middle East & Africa due to the COVID-19 pandemic has hampered the global supply chain and manufacturing processes, delivery schedules, and product sales. In addition, the restrictions imposed by countries in Europe, Asia, and North America are affecting business collaboration and partnership opportunities. The ongoing COVID-19 pandemic has had a significant impact on the float glass market. The disruptions in the production and supply chain have had a negative impact on the float glass market.

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The glass shortfall is expected to last until 2021, causing disruptions in a variety of businesses. Glass supply is tightening and has become more costly to purchase because of a various issue, including the worldwide pandemic and international tariffs. As a result of the global pandemic, many factories and manufacturers have had to suspend or slow down glass production, making it exceedingly difficult to satisfy current demands. Restarting the factories after being closed or producing at a low level for an extended period of time may be exceptionally challenging, especially if the companies aren't operating at full capacity owing to health and safety regulations. Further, with COVID-19 vaccinations being a high priority for both the public and the health business, the availability of glass has been redirected to the cause which has led to the unavailability of glass for other industries, thus creating shortage of glass in the market.

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