Report : Europe Float Glass Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Clear Glass, Tinted Glass, Textured Glass, and Others) and Application (Automotive and Transportation, Building and Construction, Electronics, and Others)
Building and Construction Segment to Dominate Europe Float Glass Market During 2021–2028
According to a new market research study on “Europe Float Glass Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application” is expected to reach US$ 22,615.05 million by 2028 from US$ 14,890.24 million in 2021. The market is estimated to grow at a CAGR of 6.2% from 2021 to 2028. The report provides trends prevailing in the Europe float glass market along with the drivers and restraints pertaining to the market growth. Rising preference for float glass in electronic industry and growing demand from building & construction industry are the major factor driving the growth of the Europe float glass market. However, variation in prices of raw materials hinders the growth of Europe float glass market.
In case of COVID-19, Europe is highly affected specially France and the UK. Initially other member states had implemented drastic measures and travel restrictions, including partially closing their borders that impacted the import and export of products. Several industrial bases such as electronics, automotive, construction, and other industrial sectors have been impacted by the pandemic, which has negatively impacted the demand for float glass in the regional market. The gradual upliftment of lockdown restrictions in certain countries in Europe will facilitate the recovery of various industries and logistics operations and will have a positive impact on the float glass market. The European Automobile Manufacturers’ Association (ACEA) forecasts that the automotive industry will start to recover in 2021, with sales rising by about 10% compared to 2020. Thus, the recovering automotive industry will have a positive impact on the float glass market.
The Europe float glass market is segmented based on type, application, and country. By type, the market is bifurcated into clear glass, tinted glass, textured glass, and others. The clear glass segment dominated the market in 2020 and tinted glass segment is expected to be fastest growing during forecast period. By application, the market was segmented into automotive and transportation, building and construction, electronics, and others. The building and construction segment dominated the market in 2020 and automotive and transportation segment is expected to be fastest growing during forecast period. Based on building and construction, the market is segmented into residential, commercial, and industrial. Based on country, the market is segmented into the UK, Germany, France, Italy, Russia, and rest of Europe.
AGC Inc.; China Glass Holdings Limited; Guardian Industries Holdings; Nippon Sheet Glass Co., Ltd; SCHOTT AG; and Xinyi Glass Holdings Limited are among the leading companies in the Europe float glass market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Guardian Industries Holdings has started to manufacture 130 x 240 mm size float glasses at its Michigan plant. The production will help the company to expand its float glass product portfolio and enable it to address more business requirements globally.
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