As per the report by TechSci Research titled "Global Clear Glass Market - By Region, Competition, Forecast & Opportunities, 2027", the global clear glass market is projected to experience healthy growth during the forecast period. This can be attributed to significant infrastructure projects in developing economies and a surge in building activity across Asia-Pacific, the United States, and Europe.
The demand for automotive glass is expected to rise due to an increase in the number of vehicles sold and its aftermarket applications. With an estimated production of 95.6 million autos in 2018, the demand for cars is robust. This will lead to an increase in the market for clear glass throughout the forecast period and significantly increase the total demand for automotive glass. The lifespan of automotive glass is affected by driving conditions and weather. Under good driving conditions, automotive glass has an operating lifespan of seven to 10 years. However, if a piece of debris strikes a fracture in the glass while travelling at high speeds, the windshield must be replaced, leading to growth in the aftermarket sector of the global market.
The replacement ratio of vehicle glass increases in cold weather conditions, which increases the possibility of glass breaking or cracking. Hence, nations with colder climates such as Canada, the U.S., Norway, the U.K., among others, will offer stronger opportunities for the aftermarket sector.
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The Global Clear Glass Market is dominated by the Flat segment based on technology. This is due to the growing demand in the construction and infrastructure industry worldwide. The use of flat glass in the construction of large commercial buildings has resulted in an ongoing trend of environmentally friendly practices both in offices and homes. The flat technology sector is expected to exhibit a significant CAGR throughout the forecast period. The building industry has been using flat glass as an insulating material, exterior glazing material, structural component, and cladding material. Moreover, flat glass is becoming increasingly popular for providing delicate-looking fenestrations on both traditional windows and façade. Additionally, flat glass has become a crucial component in solar panels for shielding PV cells from external factors such as hail, rain, and flying debris. Hence, the growth of the flat glass market is expected to be supported by the increasing number of solar energy installations worldwide.
In terms of regional analysis, the global clear glass market is segmented into North America, South America, the Middle East & Africa, Asia-Pacific & Europe. Asia Pacific region is expected to dominate the Global Clear Glass Market and register a high CAGR during the forecast period. This is because the market for clear glass is expected to grow in the next years, as rising in building activities and development, the real estate market, the automobile industry, and the production of solar panels in the Asia Pacific region. In addition, more building work is being done in the area to meet the demand in the Asia Pacific region as a result of the region's growing population.
The Real Estate Investment Trust (REIT) platform, which will allow all types of investors to invest in the Indian real estate market, has received permission from the Securities and Exchange Board of India (SEBI) in the nation of India, which is part of the Asia-Pacific region. In the ensuing years, the Indian market will be presented with an opportunity valued at USD 19.65 billion. Indian real estate developers have changed tactics and embraced new challenges in response to an audience that is becoming more aware and while keeping in mind the impact of globalization. The transition from family-owned enterprises to those that are professionally managed has been the transformation that has been the most noticeable. Real estate developers are employing experienced experts in fields such as project management, design, and engineering to fulfil the increased need for managing many projects across cities. They are also investing in centralized systems to arrange labor and source materials.
Key market players in the Global Clear Glass Market include:
- Vitro Architecture Glass
- Guardian Industries
- Saint-Gobain Group
- Euroglas GmbH
- Asahi India Glass Limited
- Jinjing (Group) Co., Ltd
- CSG Holding Co. Ltd
- Taiwan Glass Industry Corporation
- Xinyi Glass Holdings Limited
For instance, India is a country in the Asia-Pacific region and according to SEBI, the residential sector is expected to grow significantly as the central government works to construct 20 million affordable homes in urban areas nationwide by 2022 as part of the expansive Pradhan Mantri Awas Yojana (PMAY) program of the Union Ministry of Housing and Urban Affairs. The need for commercial and retail office space will rise as the number of dwelling units in metropolitan regions is anticipated to rise. Therefore, these factors are expected to drive the Global Clear Glass Market in the upcoming years", said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Global Clear Glass Market By Product (Basic Float Glass, Toughened Glass, Coated Glass, Laminated Glass, Extra Clear Glass, Others), By Technology (Flat, Rolled, Sheet), By End-Use Industry (Construction & Infrastructure, Automotive & Transportation, Solar Energy, Others), By Region, Competition, Forecast & Opportunities, 2027”, has evaluated the future growth potential of the Global Clear Glass Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the Global Clear Glass Market.
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About TechSci Research:
TechSci Research is a research based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.
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