The Latin America flat glass market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 7% during 2023–2031. The growth of market is attributed to growing housing market and construction activities in the region.
Rapid development in renewable energy industry encourages the installation across the globe coupled with high demand for glass architecture in commercial and resident construction which is anticipated to drive the market during the forecast period.
Some of the factors such as extensive use of renewable resources, environmental concern, government rules and regulations, enhancement in technology, and increasing demand for electricity are estimated to boost the market during the projected period.
With increasing disposable income of the people the lifestyle preference have changed drastically focusing more on looks and attractive interiors have increased the demand for exquisite construction, which is expected to benefit the market.
The COVID-19 pandemic affected the demand and supply of Latin America flat glass market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Latin America Flat Glass Market Trends, Drivers, Restraints, and Opportunities
Increasing housing construction activities across the region is estimated to drive the market in the coming years.
Increasing government investments and favorable rules and regulation for the industry is expected to boost the market during the forecast period.
Growing disposable income of the population leads to investing in appealing interiors is anticipated to boot the market.
Rising demand for electricity, depletion of renewable resources, and environmental concerns are some factors driving the market
Reduction in the solar installation cost is anticipated to propel the market during the projected period.
Fluctuating prices of raw materials possess a challenge that can impede the market growth.
Scope of Latin America Flat Glass Market Report
The report on the Latin America flat glass market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Flat glass market – Latin America Industry Analysis, Growth, Share, Size, Trends, and Forecast
Product Types (Tempered Glass, Laminated Glass, Insulated Glass, Other Product Types), End-user Industries (Automotive, Construction, Other end user Industries)
Mexico, Brazil, Argentina, Rest off Latin America.
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
AGC Inc; SCHOTT AG; Saint-Gobain; Vitro.
Latin America Flat Glass Market Segment Insights
The insulated glass segment is expected to exhibit high CAGR
Based on product types, the market is segregated into tempered glass, laminated glass, insulated glass, and others. The insulated glass segment is expected to exhibit high CAGR in the coming years owing to extensive demand from application such as non-vision location, commercial & operable windows, curtain walls and more such demand has forced manufacturers to increase their production yield.
However tempered glass segment is estimated to grow at rapid pace due to application varies in wide range such as mobile phone screen, windows, shower doors, and architect ring has escalated the production.
The construction segment is estimated to hold key share of the market
On the basis of end users, the market is fragmented into automotive, construction, and others. The construction segment is estimated to hold a key share of the market during the forecast period due to ongoing trends of smart cities, considered as building blocks and rising usage in interior and architectural applications, extensively used in industry for façade, doors, interior partitions, railing for stairs and balconies, shop front and more, usage of enhanced glasses with melted colorant and solar radiation absorption properties saves energy and reduces heat penetration forming visual illusion.
Brazil is expected to dominate the market
In the terms of geographies, the market is fragmented into Mexico, Brazil, Argentina, and Rest of Latin America. Brazil is expected to dominate the market during the projected period owing to favorable regulations and support from government in identifying companies for corruption charges, initiation of program to strengthen the relationship between state and private sector involving partnership contracts.
Latin America flat glass market has been segmented on the basis of
By Product types
- Tempered Glass
- Laminated Glass
- Insulated Glass
By End users
- Rest of Latin America
By Key Players
Key players competing in the Latin America flat glass market include AGC Inc.; SCHOTT AG; Saint-Gobain; Vitro.
Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.