Flat Glass Industry Expected to Reach $66.6 Billion by 2019
The global flat glass industry is expected to reach an estimated $66.6 billion by 2019, according to global management consulting and market research firm Lucintel. Lucintel analyzed the global flat glass industry by segments and region, and released the data in "Global Flat Glass Industry 2014-2019: Trend, Forecast, and Opportunity Analysis."
Based on its research, Lucintel forecasts the majority of the segments for flat glass will grow moderately in 2014-2019. New architectural trends such as glass in patio doors, extra natural lighting in building, and large windows will result in additional demand for flat glass in building construction. Growing demand of energy efficient glasses has encouraged original equipment manufacturers to switch to insulating glazing from single glazing units. Improvement in design, advanced fabrication, value added features will foster new demand in flat glass industry, according to the report.
The biggest challenge in the industry is the rising cost of raw material and energy, Lucintel reports. Sluggish demands and quick lead times are other challenges to the growth of the industry.