Investments & Expansions Was the Key Development Strategy Adopted by Leading Players to Achieve Growth in the Flat Glass Market
Flat glass products have various applications, due to their versatile properties. Flat glass products are reliable, have an aesthetic appearance, act as barriers to sound & heat, offer weight reduction, and can be used in safety equipment. In the past few years, the use of flat glass products has increased in various end-use industries, such as construction & infrastructure, automotive & transportation, and solar energy. The flat glass market is projected to reach USD 142.05 Billion by 2022, at a CAGR of 7.30% between 2017 and 2022
Key companies offering flat glass products adopted investments & expansions and new product launches as key strategies to strengthen their position in the flat glass market. The investments & expansions strategy accounted for a share of 41.2% of all the growth strategies adopted by major leading companies from 2014 to 2017. Leading companies adopted these strategies to improve their distribution channel, increase their presence in developed and emerging countries, and meet customer demands. Companies also adopted the strategy of partnerships, joint ventures & agreements to expand their product reach globally and take advantage of competencies of other companies to compete in the market.
New product launches accounted for 41.2% share each of all the developments in the flat glass market from 2014 to 2017. Companies adopted this strategy to increase their product portfolio and gain access to new and high potential markets. Companies also adopted mergers as a strategy to enhance their distribution network and diversify their product portfolio. Leading companies are acquiring small composite manufacturing companies in emerging regions to expand their reach, globally.
Major flat glass manufacturers profiled in this report are Asahi Glass (Japan), Saint-Gobain (France), Nippon Sheet Glass (Japan), Guardian Industries (U.S.), and Taiwan Glass (Taiwan).
Asahi Glass is one of the key manufacturers of flat glass that offers automotive glass products, architectural glass products, and glass substrates for displays. The company has increased R&D investments year-on-year to develop new products, new production capabilities, and processes. As a part of its growth strategy, the company is focused on new product launches to cater the increasing demand for flat glass in specific applications and gain a competitive edge in the market. For instance, in February 2017, the company introduced a retrofitting solution named- AIS Renew. The product has the capability to convert a glazed unit into an energy-saving insulated glazed unit.
Saint-Gobain is a global manufacturer of flat glass products. The company is one of the major flat glass manufacturers in the world and serves industries, such as transportation, construction & infrastructure, solar energy, and consumer goods. The company is conducting research for the development of new products for different application segments and is striving to provide the highest quality products. The company continues to invest in its facilities and research & development to achieve growth in the market. For instance, in 2016, the company invested USD 10 billion in its facilities in India, to meet the growing demand for flat glass from the region.
Related Reports:
Flat Glass Market by Technology (Float, Rolled, Sheet), Product Type (Simple Float Glass, Toughened , Coated, Laminated, Extra Clear),End-Use Industry (Construction & Infrastructure, Automotive & Transportation, Solar Energy) and Region - Global Forecast to 2022
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