Asia-Pacific represents the largest and fastest growing market for flat glass, according to Global Industry Analysts report
Global Industry Analysts Inc., released a new report titled "Flat Glass: A Global Strategic Business Report." According to the report, global flat glass demand turned towards negative territory in 2008 as the sub-prime crisis engulfed the entire world. The consequent full-blown recession had a deepening impact on the construction and automotive industries that account for about 80 percent of the flat glass demand. Capacity utilization, which had remained over 90 percent for the last several years, declined to below 87 percent in 2009. Region-wise, the decline was particularly sharp in Europe, Japan and North America. China, the single largest flat glass producer globally, also faced consequences of the meltdown. The market is currently showing signs of recovery, particularly led by economic growth in the developing countries. Huge economic stimulus provided by governments across the world is proving beneficial for the construction and automotive markets, with the positive effects percolating into the flat glass industry, according to an Oct. 29 Global Industry Analysts release.
Asia-Pacific represents the largest and fastest growing market for flat glass, according to the firm. Rising economic affluence is expected to boost the automobile industry in these countries. In China, replacement of inferior quality sheet glass by float glass and increased acceptance of fabricated glass of high value, including insulating glass and safety glass, are expected to shape the glass market in the next decade. Globally, factors such as increasing demand for energy conservation and implementation of new legislation for safety and noise levels at manufacturing units are fueling higher usage of glass in construction activity. The architectural market for advanced flat glass is expected to benefit from features such as low-emissivity, reflective and smart glass, the release states.
The research report provides a comprehensive analysis of the global flat glass market including structural overview, market trends, drivers, product profile, end-use analysis, players and competition in the market. It also offers profiles of leading players and presents recent developments, mergers, acquisitions, as well as other strategic industry activities. Click here for more details.