Mexico Flat Glass Market To Be Driven By The Rising Automotive And Construction Industries In The Forecast Period Of 2021-2026
The new report by Expert Market Research titled, ‘Mexico Flat Glass Market Report and Forecast 2021-2026’, gives an in-depth analysis of the Mexico flat glass market, assessing the market based on its segments like technology, product, industry, and region. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market (2020): USD 1,004 million
- Forecast CAGR (2021-2026): 2 %
- Market Forecast (2026): USD 1,345 million
The Mexico flat glass market is being driven by the increasing demand for float glass in the region. Due to its superior properties, high quality and structural flexibility, float glass is a desirable material for buildings, vehicles, and a variety of other applications. Float glass is also easier to cut, construct, is less breakable, is clear and transparent, and has less bubbles. These properties lead to its increased demand across various end-use industries, such as construction, automotive, and electronics. Float glass can also be processed further to manufacture different forms of specialized glass, such as toughened glass, laminated safety glass and soundproof glass. The market for float glass in Mexico is thus expected to witness significant growth in the forecast period due to rapid technological advancements and the introduction of new innovations by the key players.
Another important factor contributing to rising demand for flat glass is increasing environmental concern and growing electricity demand, which has led to an increase in the number of solar energy installations and a reduction in the cost of such installations, further aiding the growth of the market.
Industry Definition and Major Segments
Flat glass, as the name suggests, is a type of glass that is flat like sheets of paper. It is manufactured by spreading molten glass in on a metal plane surface. It is also sometime referred to as plate glass. Flat glass finds usage across various industries and is frequently used to make windows, doors, mirrors, automotive glass, among others.
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Based on technology, the industry is categorised into:
- Float Glass
- Sheet Glass
- Rolled Glass
On the basis of product type, the industry is categorised into:
- Basic Float Glass
- Toughened Glass
- Coated Glass
- Laminated Glass
- Mirrored/Patterned/Extra Clear Glass
By category, the industry is categorised into:
The major raw materials utilised in the industry include:
- Soda Ash
Based on application, the industry is categorised into:
- Solar Control
- Safety and Security
By end use, the industry is categorised into:
- Solar Energy
By region, the industry is categorised into:
- Central Mexico
- Northern Mexico
- Pacific Coast
- The Bajío
- Yucatan Peninsula
- Baja California
The Mexico flat glass industry is being driven by the rapid growth of the automotive sector in the country due to rise in vehicle demand and production. Mexico is a promising destination for automakers to setup R&D centres and expand their business due to low labour cost and favorable government policies. This has resulted in significant growth of the market in the country, with the leading flat glass manufacturers also investing in increasing their production capacities. Saint-Gobain, in 2017, announced the construction of a new flat (float) glass production line in Saltillo to produce glass for the construction and automotive sectors in order to meet the growing demand.
Rising investments in infrastructure development and increasing housing construction activities in the region are further projected to drive the market in the forecast period. Rising disposable incomes, along with a growing inclination towards look and appeal in interiors, have also propelled the demand for luxury construction, which is expected to support the growth of the market. There are also growing investments in sustainable infrastructure and increasing adoption of solar energy. This is anticipated to boost the installation of solar panels, further providing impetus to the Mexico flat glass market.
Key Market Players
The major players in the market are Vitro, S.A.B de C.V, Saint Gobain S.A., Guardian Glass LLC, AGC Inc., Nippon Sheet Glass Co., Ltd, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Source: Financial Content