Flat Glass Market

The article provides a comprehensive analysis of the global flat glass market, highlighting consumption trends, market value projections, production statistics, import and export data, and average prices. The market is expected to see a downward consumption trend over the next eight years, with a slight decrease in performance forecasted. The largest consumer and producer of flat glass is China, with significant growth rates seen in India and the United States. Imports and exports of various types of flat glass are also discussed, with notable growth rates recorded in certain countries and product categories. The average price of flat glass exports and imports have shown growth over the years, with differences observed among major exporting and importing countries.

Market Forecast

The flat glass market is expected to start a downward consumption trend over the next eight years. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -0.4% for the eight-year period from 2022 to 2030, which is projected to depress the market volume to 5.9B square meters by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of +1.6% for the period from 2022 to 2030, which is projected to bring the market value to $51.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Flat Glass

In 2022, the amount of flat glass consumed worldwide reduced slightly to 6.1B square meters, leveling off at the year before. The total consumption volume increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2019 with an increase of 8.5%. Over the period under review, global consumption attained the maximum volume at 6.1B square meters in 2021, and then declined in the following year.

The global flat glass market size stood at $45.4B in 2022, remaining stable against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked in 2022 and is expected to retain growth in years to come.

Consumption By Country

The country with the largest volume of flat glass consumption was China (1.5B square meters), accounting for 25% of total volume. Moreover, flat glass consumption in China exceeded the figures recorded by the second-largest consumer, India (568M square meters), threefold. The United States (283M square meters) ranked third in terms of total consumption with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume in China was relatively modest. In the other countries, the average annual rates were as follows: India (+4.7% per year) and the United States (+1.8% per year).

In value terms, China ($13.6B) led the market, alone. The second position in the ranking was held by the United States ($3.3B). It was followed by India.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +3.1%. In the other countries, the average annual rates were as follows: the United States (+3.5% per year) and India (+6.3% per year).

The countries with the highest levels of flat glass per capita consumption in 2022 were Russia (1.9 square meters per person), Japan (1.4 square meters per person) and Iran (1.3 square meters per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Nigeria (with a CAGR of +4.3%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Flat Glass

In 2022, approx. 5.8B square meters of flat glass were produced worldwide; approximately mirroring 2021 figures. In general, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 8.2% against the previous year. As a result, production attained the peak volume of 5.8B square meters; afterwards, it flattened through to 2022.

In value terms, flat glass production declined slightly to $43.9B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 21% against the previous year. Over the period under review, global production reached the peak level at $45.3B in 2019; however, from 2020 to 2022, production remained at a lower figure.

Production By Country

The country with the largest volume of flat glass production was China (1.4B square meters), accounting for 25% of total volume. Moreover, flat glass production in China exceeded the figures recorded by the second-largest producer, India (460M square meters), threefold. The third position in this ranking was held by the United States (354M square meters), with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China stood at -1.5%. In the other countries, the average annual rates were as follows: India (+3.4% per year) and the United States (+1.3% per year).

Imports

World Imports of Flat Glass

Global flat glass imports dropped slightly to 1.5B square meters in 2022, falling by -4.4% compared with 2021. The total import volume increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2021 with an increase of 13% against the previous year. As a result, imports reached the peak of 1.5B square meters, and then fell slightly in the following year.

In value terms, flat glass imports stood at $13.4B in 2022. The total import value increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 14% against the previous year. Global imports peaked in 2022 and are likely to see steady growth in the near future.

Imports By Country

In 2022, China (258M square meters), distantly followed by India (129M square meters) and Canada (70M square meters) were the main importers of flat glass, together mixing up 31% of total imports. The following importers - Turkey (63M square meters), Hong Kong SAR (44M square meters), South Korea (37M square meters), Malaysia (36M square meters), Poland (34M square meters), France (26M square meters), Spain (26M square meters), Germany (25M square meters), Austria (24M square meters) and Belgium (22M square meters) - together made up 23% of total imports.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +11.9%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, China ($3.1B) constitutes the largest market for imported flat glass worldwide, comprising 23% of global imports. The second position in the ranking was taken by Hong Kong SAR ($1.2B), with an 8.8% share of global imports. It was followed by Canada, with a 4% share.

From 2012 to 2022, the average annual growth rate of value in China stood at +6.5%. In the other countries, the average annual rates were as follows: Hong Kong SAR (+15.7% per year) and Canada (+5.5% per year).

Imports By Type

In 2022, float glass and surface ground glass, in sheets, non-wired, other than coloured throughout the mass (body tinted), opacified, flashed or merely surface ground (618M square meters) was the largest type of flat glass, committing 42% of total imports. Float glass and surface ground or polished glass, in sheets, having an absorbent, reflecting or non-reflecting layer, but not otherwise worked (excluding wired glass) (285M square meters) ranks second in terms of the total imports with a 19% share, followed by float glass and surface ground glass, in sheets, coloured throughout the mass "body tinted", opacified, flashed or merely surface ground, but not otherwise worked, excluding wired glass or glass having an absorbent, reflecting or non-reflecting layer (19%) and cast glass and rolled glass, non-wired sheets, excluding those coloured throughout the mass (body tinted) opacified, flashed or having an absorbent or reflecting layer (16%).

Float glass and surface ground glass, in sheets, non-wired, other than coloured throughout the mass (body tinted), opacified, flashed or merely surface ground experienced a relatively flat trend pattern with regard to volume of imports. At the same time, cast glass and rolled glass, non-wired sheets, excluding those coloured throughout the mass (body tinted) opacified, flashed or having an absorbent or reflecting layer (+13.2%), float glass and surface ground glass, in sheets, coloured throughout the mass "body tinted", opacified, flashed or merely surface ground, but not otherwise worked, excluding wired glass or glass having an absorbent, reflecting or non-reflecting layer (+2.5%) and float glass and surface ground or polished glass, in sheets, having an absorbent, reflecting or non-reflecting layer, but not otherwise worked (excluding wired glass) (+2.5%) displayed positive paces of growth. Moreover, cast glass and rolled glass, non-wired sheets, excluding those coloured throughout the mass (body tinted) opacified, flashed or having an absorbent or reflecting layer emerged as the fastest-growing type imported in the world, with a CAGR of +13.2% from 2012-2022. While the share of cast glass and rolled glass, non-wired sheets, excluding those coloured throughout the mass (body tinted) opacified, flashed or having an absorbent or reflecting layer (+11 p.p.), float glass and surface ground glass, in sheets, coloured throughout the mass "body tinted", opacified, flashed or merely surface ground, but not otherwise worked, excluding wired glass or glass having an absorbent, reflecting or non-reflecting layer (+2 p.p.) and float glass and surface ground or polished glass, in sheets, having an absorbent, reflecting or non-reflecting layer, but not otherwise worked (excluding wired glass) (+2 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of float glass and surface ground glass, in sheets, non-wired, other than coloured throughout the mass (body tinted), opacified, flashed or merely surface ground (-10.5 p.p.) displayed negative dynamics.

In value terms, cast glass and rolled glass, non-wired sheets, excluding those coloured throughout the mass (body tinted) opacified, flashed or having an absorbent or reflecting layer ($4.1B), float glass and surface ground glass, in sheets, non-wired, other than coloured throughout the mass (body tinted), opacified, flashed or merely surface ground ($4B) and float glass and surface ground or polished glass, in sheets, having an absorbent, reflecting or non-reflecting layer, but not otherwise worked (excluding wired glass) ($2.2B) were the products with the highest levels of imports in 2022, together comprising 78% of global imports.

In terms of the main imported products, cast glass and rolled glass, non-wired sheets, excluding those coloured throughout the mass (body tinted) opacified, flashed or having an absorbent or reflecting layer, with a CAGR of +18.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other products experienced more modest paces of growth.

Import Prices By Type

The average flat glass import price stood at $9.2 per square meter in 2022, with an increase of 7.4% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 9.9%. Global import price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major imported products. In 2022, the product with the highest price was cast glass and rolled glass, profiles, not otherwise worked ($54 per square meter), while the price for float glass and surface ground glass, in sheets, non-wired, other than coloured throughout the mass (body tinted), opacified, flashed or merely surface ground ($6.5 per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by drawn and blown glass, in sheets, coloured throughout the mass (body tinted), opacified, flashed or having an absorbent, reflecting or non-reflecting layer, but not otherwise worked (+5.0%), while the other products experienced more modest paces of growth.

Import Prices By Country

In 2022, the average flat glass import price amounted to $9.2 per square meter, surging by 7.4% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 9.9%. Global import price peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($27 per square meter), while India ($3.4 per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Flat Glass

After two years of growth, shipments abroad of flat glass decreased by -3.2% to 1.2B square meters in 2022. Overall, exports recorded a mild descent. The most prominent rate of growth was recorded in 2016 with an increase of 19%. The global exports peaked at 1.4B square meters in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, flat glass exports reached $13.1B in 2022. The total export value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 15%. Over the period under review, the global exports reached the maximum in 2022 and are likely to see steady growth in the near future.

Exports By Country

In 2022, China (157M square meters), followed by Germany (104M square meters), the United States (86M square meters) and Russia (61M square meters) represented the key exporters of flat glass, together committing 35% of total exports. The following exporters - Poland (51M square meters), Japan (44M square meters), Turkey (42M square meters), Hong Kong SAR (41M square meters), France (41M square meters), Belgium (39M square meters), the Netherlands (37M square meters), South Korea (34M square meters) and Belarus (34M square meters) - together made up 32% of total exports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +20.0%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest flat glass supplying countries worldwide were China ($3.1B), Hong Kong SAR ($1.6B) and Germany ($1.1B), with a combined 44% share of global exports. The United States, South Korea, Japan, Poland, Belgium, France, Russia, Turkey, Belarus and the Netherlands lagged somewhat behind, together comprising a further 32%.

Among the main exporting countries, Turkey, with a CAGR of +23.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

Float glass and surface ground glass, in sheets, non-wired, other than coloured throughout the mass (body tinted), opacified, flashed or merely surface ground was the key exported product with an export of about 637M square meters, which reached 51% of total exports. It was distantly followed by float glass and surface ground or polished glass, in sheets, having an absorbent, reflecting or non-reflecting layer, but not otherwise worked (excluding wired glass) (230M square meters), float glass and surface ground glass, in sheets, coloured throughout the mass "body tinted", opacified, flashed or merely surface ground, but not otherwise worked, excluding wired glass or glass having an absorbent, reflecting or non-reflecting layer (230M square meters) and cast glass and rolled glass, non-wired sheets, excluding those coloured throughout the mass (body tinted) opacified, flashed or having an absorbent or reflecting layer (101M square meters), together creating a 45% share of total exports. Drawn and blown glass, in sheets, other than glass coloured throughout the mass (body tinted), opacified, flashed or having an absorbent or reflecting layer (34M square meters) followed a long way behind the leaders.

Exports of float glass and surface ground glass, in sheets, non-wired, other than coloured throughout the mass (body tinted), opacified, flashed or merely surface ground decreased at an average annual rate of -1.5% from 2012 to 2022. At the same time, cast glass and rolled glass, non-wired sheets, excluding those coloured throughout the mass (body tinted) opacified, flashed or having an absorbent or reflecting layer (+7.2%), float glass and surface ground or polished glass, in sheets, having an absorbent, reflecting or non-reflecting layer, but not otherwise worked (excluding wired glass) (+1.1%) and float glass and surface ground glass, in sheets, coloured throughout the mass "body tinted", opacified, flashed or merely surface ground, but not otherwise worked, excluding wired glass or glass having an absorbent, reflecting or non-reflecting layer (+1.1%) displayed positive paces of growth. Moreover, cast glass and rolled glass, non-wired sheets, excluding those coloured throughout the mass (body tinted) opacified, flashed or having an absorbent or reflecting layer emerged as the fastest-growing type exported in the world, with a CAGR of +7.2% from 2012-2022. By contrast, drawn and blown glass, in sheets, other than glass coloured throughout the mass (body tinted), opacified, flashed or having an absorbent or reflecting layer (-9.7%) illustrated a downward trend over the same period. Cast glass and rolled glass, non-wired sheets, excluding those coloured throughout the mass (body tinted) opacified, flashed or having an absorbent or reflecting layer (+4.3 p.p.), float glass and surface ground or polished glass, in sheets, having an absorbent, reflecting or non-reflecting layer, but not otherwise worked (excluding wired glass) (+2.9 p.p.) and float glass and surface ground glass, in sheets, coloured throughout the mass "body tinted", opacified, flashed or merely surface ground, but not otherwise worked, excluding wired glass or glass having an absorbent, reflecting or non-reflecting layer (+2.9 p.p.) significantly strengthened its position in terms of the global exports, while drawn and blown glass, in sheets, other than glass coloured throughout the mass (body tinted), opacified, flashed or having an absorbent or reflecting layer and float glass and surface ground glass, in sheets, non-wired, other than coloured throughout the mass (body tinted), opacified, flashed or merely surface ground saw its share reduced by -4.4% and -4.7% from 2012 to 2022, respectively.

In value terms, float glass and surface ground glass, in sheets, non-wired, other than coloured throughout the mass (body tinted), opacified, flashed or merely surface ground ($4.6B), cast glass and rolled glass, non-wired sheets, excluding those coloured throughout the mass (body tinted) opacified, flashed or having an absorbent or reflecting layer ($3.5B) and float glass and surface ground or polished glass, in sheets, having an absorbent, reflecting or non-reflecting layer, but not otherwise worked (excluding wired glass) ($2.1B) were the products with the highest levels of exports in 2022, with a combined 76% share of global exports.

In terms of the main exported products, cast glass and rolled glass, non-wired sheets, excluding those coloured throughout the mass (body tinted) opacified, flashed or having an absorbent or reflecting layer, with a CAGR of +19.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other products experienced more modest paces of growth.

Export Prices By Type

The average flat glass export price stood at $11 per square meter in 2022, with an increase of 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. The pace of growth was the most pronounced in 2018 when the average export price increased by 23%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exported products. In 2022, the product with the highest price was cast glass and rolled glass, profiles, not otherwise worked ($40 per square meter), while the average price for exports of float glass and surface ground glass, in sheets, non-wired, other than coloured throughout the mass (body tinted), opacified, flashed or merely surface ground ($7.3 per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by cast glass and rolled glass, non-wired sheets, excluding those coloured throughout the mass (body tinted) opacified, flashed or having an absorbent or reflecting layer (+11.3%), while the other products experienced more modest paces of growth.

Export Prices By Country

In 2022, the average flat glass export price amounted to $11 per square meter, rising by 12% against the previous year. Over the last decade, it increased at an average annual rate of +2.8%. The growth pace was the most rapid in 2018 an increase of 23%. The global export price peaked in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($39 per square meter), while the Netherlands ($1.4 per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+19.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform