The global decorative flat glass market is expanding rapidly and is expected to continue to do so in the next few years. Decorative flat glasses are used frequently in commercial buildings for a variety of purposes. The expanding use of flat glass combined with the booming glass sector is fuelling its market expansion. The rise in demand for construction is majorly due to the speedy urbanization within the Asia-Pacific countries, where there is large market demand in many good cities’ projects. Also, utilizing decorative flat glass for repair and improvement of old infrastructure can promote the expansion of the global decorative flat glass market. Furthermore, with advancements in glass technology, makers are focusing on meeting the patron interest by manufacturing innovative glass products, resulting in sturdy and strong material, which are not just decorative.
Market Scope and Structure Analysis
Decorative flat glass are used for specific applications in various industries. Toughened glass, additionally referred to as tempered glass, is a type of safety glass widely used in passenger vehicles, architectural doors, windows and tables, shower doors, bulletproof glass, driving masks, and cookware. Laminated glass is also a type of safety glass that stays intact even after breaking. It finds application in automobile windshields, the exterior of storefronts, windows, and curtain walls. Patterned glass is widely used in bathroom enclosures, elevator interiors, patio furniture, and window treatments. Mirrored glasses are used as per need in several applications.
COVID-19 Impact Analysis
- Coronavirus has affected the import and export of construction materials globally. As China is the largest exporter of construction materials globally, negative trends in the economy of China are anticipated to reduce the global imports and export of construction materials.
- The demand for decorative flat glass has witnessed a massive negative shift since the COVID-19 outbreak in December 2019, with manufacturers and investors fearing an excessively receding economic growth.
- Travel prohibitions globally have affected the trade of construction materials. Thus, the supply and demand for construction materials were almost halted in 2020, while the scenario was different in 2021.
- Construction materials manufacturing companies in China, suffered the most from the virus outbreak, owing to the lockdown and unavailability of logistics.
- The major hindrance for the global construction materials market was from the home quarantine and lockdown orders set by respective governments, which has led to the discontinuation of the production of construction materials.
- Decreased consumer demand and consumption have led to the reduction and slowdown of sales of construction materials globally over the current economic year.
- Therefore, the decorative flat glass market was negatively affected in 2020.
Top Impacting Factors
The key drivers for the expansion of the decorative flat glass market are the rise in expenditure on building and construction activities and advancements in solar battery production. In addition, changes and advancements within the automobile sector contribute to the expansion of the decorative flat glass market. The growth of the decorative flat glass market also depends on the rising markets that are characterized by the growing population, foreign investments, the rising middle-class population, and disposable incomes. The ever-changing lifestyle of people in search of luxury has also multiplied the use of decorative flat glass for interiors planning. The decorative flat glass market has been growing at a boisterous pace in recent times. Using decorative flat glass in interior designing and planning has been significant, thus driving its sales across the global market.
- The growth of the decorative flat glass market is predicted to surge in the coming years. The rising demand for home décor products is the major driver for the decorative flat glass market. Architects and designers are continuously seeking new and artistic ways to incorporate decorative glass into their project design to reinforce aesthetic appeal. Thus, the production of lightweight and non-fragile decorative glass is increasing in the market. Additionally, with the growing building construction sector, the decorative glass market holds sturdy potential, burgeoning the demand for decorative flat glass in the forecast period.
There is a high demand for green building construction globally. Also, many governments are emphasizing more on green construction, which is creating a huge opportunity for the market to grow. The growing consumer demand for green building construction has paved a path for technological advancements and innovations for residential, commercial, and industrial building
Key Benefits of Report
- This study presents the analytical depiction of the decorative flat glass market, the current trends, and future estimations to determine the imminent investments pockets.
- The report presents information related to key drivers, restraints, opportunities, and a detailed analysis of the decorative flat glass market.
- The current market is quantitatively analyzed to highlight the decorative flat glass market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers in the market.
- The report provides a detailed decorative flat glass market analysis based on competitive intensity and how the competition will take shape in the coming years.
Decorative Flat Glass Market Report Highlights
Key Market Players
SGG STADIP GLASS LIMITED, Vitro, AGC Inc., Xinyi Glass Holdings Limited, Saint-Gobain, Guardian Industries Corp., CSG Holding Co., Ltd., Svilara Exim Pvt Ltd, Tropilo d.o.o., Nippon Sheet Glass Co., Ltd.