CLEVELAND, April 10, 2020 /PRNewswire/ -- The COVID-19 pandemic is expected to have a significant negative impact on global flat glass sales in 2020, mainly due a reduction in building construction activity, which was responsible for 82% of total demand in volume terms in 2018. Beyond the pandemic, however, trends discussed in the Freedonia Group's Global Flat Glass study still hold, as a significant change in the long-term outlook is not expected.
Extreme short-term effects expected due to COVID-19 crisis
In addition to weakness in construction activity, pandemic-triggered production shutdowns and supply chain disruptions in the motor vehicle market and a downgraded outlook for the solar energy market will result in short-term impacts on flat glass sales that could have lasting effects:
Asia/Pacific market to drive global growth through 2023
The Asia/Pacific region is projected to account for 82% of the global increase in flat glass area demand through 2023, with China alone accounting for 68%:
Want to learn more?
See Global Flat Glass, now available from The Freedonia Group. This study covers the global flat glass industry and presents two unit measurements for flat glass – square meters (for demand and production) and metric tons (for production and capacity). Demand by market (residential and nonresidential building construction; OEM and aftermarket motor vehicle; solar energy and other markets) for fabricated flat glass is presented in US dollars. Fabricated flat glass includes both basic glass as well as processed and value-added products such as laminated, tempered, and insulating glass. Thus, the dollar values presented per square meter of flat glass in each country and region include the inherent value added by fabrication.
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group