The North America flat glass market is estimated to witness a significant growth, at an estimated CAGR of over 8%, over the forecast period. Increasing housing construction activities in the United States are expected to drive the market during the forecast period.
New York, Oct. 12, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Flat Glass Market - Growth, Trends, and Forecast (2020 - 2025)" - https://www.reportlinker.com/p05976756/?utm_source=GNW
- Fluctuating raw material prices are likely to hinder the market’s growth in the coming years.
- By end-user industry, the construction segment is expected to dominate the market in the region.
- United States is expected to dominate the market and is also expected to witness the fastest CAGR during the forecast period.
Key Market Trends
Construction Industry to Drive the Demand for Flat Glass
- The construction industry is the largest end-user segment of the market studied. Moreover, the ongoing trend of smart city projects is also anticipated to drive the flat glass demand.
- Flat glasses are made of sodium silicate and calcium silicate, and are available from 2mm to 20mm thickness ranges, for several applications. They have a weight range of 6kg/m2-36 kg/m2. These glasses are often considered as building blocks for several types of architectural and interior applications.
- Glasses are being used extensively in the construction industry, in windows, façade, doors, interior partitions, balustrades, shop fronts, and railings for stairs and balconies, among other building parts, providing potential opportunity to float glasses.
- The body-tinted float glass is a new type of glass, in which, melted colorants are added for coloring and solar-radiation absorption properties. This type of glass saves energy, reduces heat penetration into buildings, and provides a striking visual effect.
- Previously, flat glass was used for smaller windows in domestic housing, since larger windows required toughened glasses. Currently, flat glass can also be toughened by putting it through a heating process, which very nearly melts it, and then cools it to ambient temperatures, using a jet of cold air. This glass requires a greater pressure to break. This characteristic makes the glass suitable for use in building applications.
- Owing to all the aforementioned factors, the market for flat glass is projected to grow during the forecast period.
United States to Dominate the Market
- The construction industry in the United States continued to expand, owing to a strong economy and positive market fundamentals for commercial real estate, along with an increase in federal and state funding for public works and institutional buildings.
- The US residential sector’s growth is slower than the non-residential sector. In the country, the growing population is expected to boost the demand for housing. Furthermore, about 20 million households are projected to be constructed over the next decade. The US commercial construction sector is expected to witness growth in the next few years.
- Some of the upcoming projects that are in the pipeline for the construction sector to boom in the country are:
- City officials in San Francisco recently unveiled designs for the South San Francisco Civic Center campus. It will include a new library, a parks and recreation center, and new City Council chambers. The budget for the project is estimated to be at USD 210 million.
- The University of Illinois at Chicago (UIC) has recently announced plans for a USD 95 million Center for the Arts to be built on its campus. The 88,000-square-foot building will be used primarily by the UIC’s School of Theatre & Music.
- Owing to all these factors, the demand for flat glass in the region is expected to increase during the forecast period.
The North America flat glass market is consolidated in nature. Key players in the market include AGC Inc., Nippon Sheet Glass Co. Ltd, Saint-Gobain, and SCHOTT AG, among others.
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