Global Fabricated Flat Glass Demand To increase At 6.6% Every Year, Till 2018 - Literated Market Research

Vinay Ng

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• Publié par: seorumer
• Publié le: 26 septembre 2015
• Nombre de lectures: 1
• Langue: English

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Global Fabricated Flat Glass Demand To increase At 6.6% Every Year, Till 2018 - Literated Market Research

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Outpacing projected real gains in the global economy, the demand flat glass across the globe is expected to reach nearly 10 billion square meters till 2018 with a growth of 6.6% every year. Benefiting from rising adoption of value-added flat glass products, during the same period, it is expected that the market value for fabricated glass would rise by 7.3 percent per year to reach $102.3 billion in 2018.

There has been a continuous rise in the growth of fabricated flat glass in the past decade. The global value of the fabricated flat glass segment, in terms of revenue, in 2003 was $38.8 billion, which further increased to $53.3 billion in 2008 and reached $72 billion in 2013.

Among the fabricated flat glass segment, the demand for architectural fabricated flat glass was $16.1 billion in 2003, reached $22.5 billion in 2008 and touched $29.5 billion in 2013. This category is forecast to reach $42.7 billion by 2018.

A rebound in the leading in architectural markets and increase in demand for value-addedglass products, such as high-performance glass, are the drivers for the growth in this category. The other additional driving forces for the growth of the industry in the past one decade include energy efficiency concerns - pressed by increasingly stringent standards and regulations, design and aesthetic trends - including demand for more day-lighting, weather related threats - such as hurricanes and tornados, security concerns and rising income and discretionary spending levels that have affected the demand for value-added glasses.

Forecast till 2018 is that the Asia-Pacific region will continue to record the fastest growth in the demand for flat glass where China is expected to play a significant role. However, there are demands for adjusting the forecast for the Asia Pacific region given the reported slowdown in the Chinese economy in the last few months. Strong growth in flat glass consumption is expected from India, Vietnam, Indonesia and Thailand. Excluding China and Japan, the demand from the rest of the Asia Pacific market for fabricated flat glass is expected to increase from $9 billion in

2013 to $12.7 billion in 2018 and $17.4 billion in 2023with a growth of 41 percent and 37 percent respectively.

North America, Western Europe and Japan are the three major regions where the demand for flat glass has concentrated traditionally. However, even as growth is expected to increase in these regions, but the forecast is that it would be less than that from the Asia Pacific region. In the North American region, the demand for fabricated flat glass is expected to increase by 31.5 percent from 2013 to 2018, from $13 billion to $17.1 billion and another 17.5 percent from 2018 to 2023, to reach $20.8 billion.

The demand for fabricated flat glass was $13.8 billion in 2013 in Western Europe and is expected to increase by 19.6% to reach $16.5 billion 2018 and then clock growth of 14.5% to reach $18.9 billion in 2023. Japan is expected to record a demand growth of 8.8% in the fabricated flat glass segment to reach $7.4 billion in 2018 and then to reach $7.9 billion in 2023 with a 6.6 percent increase.

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