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Flat Glass Market growth drivers in 2017 & Challenges by 2024

March 13, 2018 | Author: | Posted in Business

The emerging advancements in the tech cosmos such as LEDs and laser technology have had a positive impact on flat glass market. In consequence, companies partaking in flat glass industry share have been tapping novel technologies to bring forth a range of products for consumers. For instance, SCHOTT Gemtron, the renowned North American flat glass manufacturer of household appliances, has scarcely announced the deployment of laser technology at its plant to increase the overall productivity of glass tablets.

The implementation of next-generation technologies will thus help flat glass market giants to sustain the fierce competition in the business. Apart from household applications, flat glass is prominently used for construction, renewable energy, and automotive applications as well. Regional governments have been continually encouraging companies to adopt renewable energy sources and recycling methodologies, which would have a positive influence on flat glass industry trends over the years ahead.

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Currently, pertaining to the depleting non-renewable energy sources along with the rising concerns about the hazardous impact of escalating carbon footprints on the environment, regulatory bodies have been concentrating on developing energy-efficient infrastructure. An outline of some of these initiatives taken by several governments that have been impacting flat glass market share are mentioned below:

The Chinese government’s plan to install 105 GW solar PV plant by 2020 to impel flat glass industry size

In order to accomplish its plan of establishing a solar PV plant of capacity 105 GW, China plans to first install solar PV cells of 54 GW by the of 2017. Since 2013, China has garnered high prominence in solar market with a huge number of solar PV power plant installations. In addition, under the poverty alleviation program, the Chinese government has been providing subsidies for rural communities to implement solar panels on residential rooftops. The exponential growth in solar market across China will thus prove to be beneficial for flat glass industry biggies, thereby impelling the overall revenue of this business space.

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Stand of Housing and Development Board (HDB) to install solar panels across several government agencies, boosting flat glass market outlook

Recently, in 2017, HDB launched a tender for the installation of solar panels across eight governmental agencies including the Institute of Technical Education, Building and Construction Authority, Sport Singapore, and National Heritage Board under SolarNova Programme. This program is apparently led by the Housing and Development Board and Singapore Economic Development Board (EBD), and the complete installation of solar PV systems is likely to be accomplished by 2020. The increasing installation of solar panels across Singapore to fulfill the surging need for reliable energy sources will thus fuel the regional flat glass industry share over the years ahead.

EU’s support to deploy solar projects across African countries to drive flat glass industry

A few months ago, the European Union had promised to provide a fund of USD 4.2 billion for 14 renewable energy projects across African countries. These projects include geothermal and grid upgrades, rural electrification, many other large-scale solar projects, which encompass planned solar plants at Chad (30 MW), Nigeria (100 MW), Niger (30 MW), and Benin (13 MW). In fact, these African countries are inviting investors, developers, energy companies, and suppliers to successfully complete their goal of producing 300 GW of renewable energy by 2030. Considering the expanse of this lucrative business prospect, it goes without saying that Africa flat glass market would witness commendable gains in the years to come.

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Meanwhile, Middle East countries have also been investing heavily in solar systems. For instance, at the MBRSC (Mohammed Bin Rashid Space Centre), Dubai, new solar panels have been deployed by Emirati engineers, which has augmented the demand for flat glass in the region, thereby pushing flat glass market share.

The growing percentage of carbon dioxide emissions is one of the vital concerns as on today. In this regard, the companies in Europe flat glass market have been making heavy investments to develop and install technologies in new flat glass manufacturing plants so as to reduce carbon emissions. Some of the European countries have been hosting flat glass industry companies to recycle flat glass through demolition and renovation projects in the respective nations.

For instance, Zero Waste Scotland has received applications from small and medium-sized firms in flat glass industry to set up a flat glass recovery network across Scotland. One of the prominent Italian companies in flat glass market, AGC Flat Glass Italia has invested EUR 25 million to deploy a new float line at its plant, that helps reduce 25% energy consumption, gradually lowering carbon emissions. Considering the massive ongoing developments in flat glass market and the tremendous pace at which companies have been adopting game-changing manufacturing processes, it is indeed quite overt that flat glass market size is likely to witness a lucrative growth rate over 2017-2024.

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