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レポート概要
| 本調査資料は、世界の板ガラス市場について調査し、イントロダクション、調査手法、エグゼクティブサマリー、市場動向、製品種類別（焼きなましガラス、コーターガラス、反射ガラス、加工ガラス、ミラー）分析、産業別（建設、自動車、ソーラー、その他）分析、地域別分析、競争状況、市場機会/将来の見通しなどを掲載しています。 ・イントロダクション ・調査手法 ・エグゼクティブサマリー ・市場動向 ・世界の板ガラス市場規模：製品種類別（焼きなましガラス、コーターガラス、反射ガラス、加工ガラス、ミラー） ・世界の板ガラス市場規模：産業別（建設、自動車、ソーラー、その他） ・世界の板ガラス市場規模：地域別 ・競争状況 ・市場機会/将来の見通し |
The flat glass market is expected to reach USD 125,529.68 million by 2026, registering a CAGR of 5.22% during the forecast period (2021-2026). Due to the COVID-19 outbreak, most of the manufacturing facilities have been shut down, and automotive production has been affected severely and impacted the production facilities for several months due to the lockdown. The supply chain throughout the world has been fractured. The economic instability due to the pandemic outbreak has also made developers, in both public and private sectors, rethink their projects as debts mount. This has created a downfall in the construction sector.
– Over the medium term, the major factors driving the growth of the market studied are increasing demand from the construction industry in which glasses are being used in windows, facades, doors, interior partitions, balustrades, shop fronts, and railings for stairs and balconies, among other building parts and growing demand for electronic displays as the increasing demand for consumer electronics, such as televisions, smartphones, tablets, laptops, wearables, and other devices.
– On the flip side, fluctuating raw material prices and the impact of COVID-19 are expected to hinder the growth of the market.
– The Asia-Pacific region is expected to account for the largest share of the flat glass market, with the largest consumption coming from countries such as China, Japan, ASEAN countries, etc.
Key Market Trends
Construction Industry to Drive the Demand for Flat Glass
Flat glass is used significantly in the construction industry, owing to its wide range of functions from heat insulation to soundproofing and from safety applications to solar protection. In building and construction applications, flat glass is majorly used in windows for both functional and aesthetic purposes, which allow clear sights for customers looking out of the window, and at the same time, protect them from the elements such as UV radiations. One of the trends in flat glass is self-cleaning glass. Organic dirt is broken down by the ultraviolet light in sunlight, making it easier to remove. When it rains, the broken-down dirt is simply washed off the windows, leaving almost no streaks, as instead of forming droplets as it would on conventional glass, the water forms a film that covers the entire surface of the glass and takes the dirt with it as it runs off. Thus, self-cleaning glass offers better visibility than conventional glass when it rains.
In addition, the growing urban population and the rise in disposable income of the world population are few other major factors that have significantly boosted the growth of infrastructure and construction activities worldwide. The growth of construction and infrastructure development directly links to the demand for flat glass, which tends to drive the growth of the market. The recent trend suggests a rapid change in building architecture, with the use of flat glass in facades and roofs optimizing natural daylight. Furthermore, the market drivers include technologies such as Low-E and triple silver insulated goods. According to the Institution of Civil Engineers, the volume of construction output is forecasted to grow by 85%, with the revenue of USD 15.5 trillion worldwide in the upcoming decade, led by emerging countries such as India and China and developed countries like the United States. The growing commercial construction in a wide range of sectors, including education, retail, healthcare, office commercials, etc., increases the demand for flat glass, which drives the growth of the market.
Asia-Pacific is expected to witness the highest growth in new residential construction projects due to the expanding housing construction market in developing countries, like China, India, and ASEAN countries. In China, the construction industry grew at a strong pace in 2019, even though the growth slowed down during the year, as compared to 2018. The residential construction sector supported the economic growth in the country, even when the US-China trade war affected the performance in other industries, such as automotive and electronics. Furthermore, in Indonesia, the millennials account for about more than 50% of the productive population. With the increasing young population in the country, the housing demand has also been increasing simultaneously. In order to cater to the growing demand for affordable houses, the construction of housing units has been increasing in the country. All the aforementioned factors are expected to boost the growth of the residential sector, which, in turn, is expected to propel the flat glass market, owing to its various beneficial features.
China to Dominate the Global Market
In Asia-Pacific, China is the largest economy in terms of GDP. In 2019, the country witnessed about ~6.1% growth in its GDP, despite facing trade disturbances due to its trade war with the United States. Currently, the Chinese economy has been severely hit by the COVID-19 pandemic. According to the International Monetary Fund (IMF) projections, the Chinese GDP growth is estimated to be ~1.9% in 2020 due to the COVID-19 pandemic. It is expected to recover and reach 8.2% by the end of 2021.
China is the largest producer of flat glass in the world, holding more than 50% of the market share. Many manufacturers in China have been geared to create products that meet the Western production levels and environmental standards. During the pandemic, flat glass manufacturers in China had to break the produced flat glass for re-production as the glass processing companies did not start operations, and all the Chinese domestic and export projects were stopped. Since May, the flat glass requirement has been increasing, as all the domestic projects and overseas projects re-started, in addition to the Chinese government policies to increase the infrastructure construction. The significant growth in demand for flat glass in the country comes majorly from building and construction applications. The construction industry grew at a strong pace in 2019, even though growth was slow during the year as compared to 2018. The construction sector supported the economic growth in the country, even when the US-China trade war affected performance in other industries, such as automotive.
China’s 13th Five Year Plan started in 2016 (2016-2021), and it was an important year for the country’s engineering, procurement, and construction (EPC) industry. In addition, the country ventured into new business models, domestically and internationally, during the year. Although the construction sector slowed down after 2013, it is still a major contributor to the GDP of the country. China is promoting and undergoing a process of continuous urbanization, with a target rate of 60% for 2020. The increased living spaces required in the urban areas, resulting from urbanization and the desire of middle-class urban residents to improve their living conditions, may profoundly affect the housing market, thereby increasing the usage of flat glass in construction applications.
Moreover, the Chinese automotive manufacturing industry is the largest in the world. The industry witnessed a slowdown in 2018, wherein production and sales declined. A similar trend continued, with production witnessing a 7.5% decline in 2019. As the pandemic spread, many auto companies across the country shut down their manufacturing activities due to the nationwide shutdown. In addition to the auto companies based in Hubei, Tesla’s new factory in Shanghai was shut down, postponing the production date of its Model 3.
Moreover, Volkswagen postponed the production at all Chinese plants that it runs in partnership with SAIC. However, demand has been recovering continuously, with vehicles’ shipments reaching close to 2.2 million units in August 2020, up by 11.6%. The total number of shipments during January-August 2020 was down by 10% on a Y-o-Y basis. China’s Association of Automobile Manufacturers has estimated a 5% decline for the full year.
China is also looking to dramatically increase the proportion of solar energy in its power mix, which is expected to create a huge demand for flat glass in the country during the forecast period. All the aforementioned trends in various industries may be instrumental for the growth of the flat glass market in the country during the forecast period. However, the demand was likely to be affected during 2020-21, as economic performance and demand were likely to remain affected by the COVID-19 pandemic.
Competitive Landscape
The flat glass market is consolidated, with the top five players accounting for around half of the flat glass market. The market is extremely competitive, with various major manufacturers engaging in strategic partnerships to expand their market share. Some of the key players in the market include Saint-Gobain, AGC Inc., GUARDIAN GLASS LLC, Nippon Sheet Glass Co. Ltd, and Sisecam Group, among others.
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1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Demand for Electronic Displays
4.1.2 Increasing Demand from the Construction Industry
4.2 Restraints
4.2.1 Slowdown in the Automotive Industry
4.2.2 Impact of the COVID-19 on the Market
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Annealed Glass (Including Tinted Glass)
5.1.2 Coater Glass
5.1.3 Reflective Glass
5.1.4 Processed Glass
5.1.5 Mirrors
5.2 End-user Industry
5.2.1 Construction
5.2.2 Automotive
5.2.3 Solar
5.2.4 Other End-user Industries
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 ASEAN Countries
5.3.1.6 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 United Kingdom
5.3.3.2 Germany
5.3.3.3 France
5.3.3.4 Italy
5.3.3.5 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 AGC Inc.
6.4.2 Asahi India Glass Limited
6.4.3 Cardinal Glass Industries Inc.
6.4.4 China Glass Holdings Limited
6.4.5 Fuyao Glass Industry Group Co. Ltd
6.4.6 GUARDIAN GLASS LLC
6.4.7 Nippon Sheet Glass Co. Ltd
6.4.8 Phoenicia
6.4.9 Saint-Gobain
6.4.10 SCHOTT AG
6.4.11 Sisecam Group
6.4.12 Vitro
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Advancement in the Automotive Industry
7.2 Rising Initiatives in the Solar Industry