Float glass is one of the most widely used types of glass in the world, and its market has been steadily growing over the years. Float glass is made by floating molten glass on a bed of molten metal, which gives it an ultra-smooth surface that is completely flat and parallel to both sides. Float glass is used for a variety of applications such as windows, doors, furniture, shower enclosures and automotive glass.
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The float glass market has seen significant growth in recent years due to increased demand from various industries globally. Float glass production increased at a Compound Annual Growth Rate (CAGR) of 5.9 percent between 2014 and 2019, reaching 62 million metric tons by 2019. This growth can be attributed to a number of factors such as increasing urbanization, rising disposable incomes and greater demand for energy efficient buildings. Additionally, government regulations regarding energy efficiency have driven up demand for float glass further.
In terms of geography, Asia Pacific dominates the float glass market with around 60 percent share in 2019. This can be attributed to the high demand from countries such as China, India and Japan which are experiencing rapid economic expansion coupled with increasing construction activities. Additionally, Europe also holds a significant share in the float glass market due to its focus on energy efficient buildings and stringent environmental regulations along with rising disposable incomes in the region’s advanced economies like Germany and France.
The major players operating in the float glass market include AGC Inc., Nippon Sheet Glass Co., Ltd., Saint-Gobain S.A., Asahi Glass Co., Ltd., Central Glass Co., Ltd., Guardian Industries Corporation, Xinyi Glass Holdings Limited (SEHK: 0868), NSG Pilkington (Nippon Sheet Glass Group), Fuyao Group (SHE:600660) and NorthGlass Technologies Co., Ltd., among others. These companies provide innovative products to their customers while keeping sustainability at the core of their operations through measures like using recycled materials instead of virgin materials for their products or using solar panels for power generation at their manufacturing sites.
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To conclude, Float Glass Market is expected to witness steady growth over the next few years driven by increasing government regulations regarding energy efficiency as well as rising disposable incomes across many countries globally coupled with growing urbanization rates worldwide resulting in more construction activities which will increase demand for Float Glass further . The major players operating in this industry are utilizing various strategies such as focusing on sustainability to gain competitive advantage over others while providing quality products to their customers
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