The North America Architectural Flat Glass Market to exceed $13 billion by 2028, says Global Market Insights Inc.
The growth of the North America architectural flat glass market is supported by rapid urbanization, proliferating construction industry, and surging industrialization across the region, says this report.
SELBYVILLE, Del., June 27, 2022 /PRNewswire/ -- According to the research report by Global Market Insights Inc., the North America Architectural Flat Glass Market was estimated at USD 8 billion in 2021 and is expected to generate total revenue of more than USD 13 billion by 2028, progressing at a CAGR of 7% from 2022 to 2028. The market study provides a thorough market outlook encompassing drivers & opportunities, market size & estimations, wavering market trends, major investment pockets, competitive scenario, and top winning strategies.
Architectural flat glass is widely used in interior decoration, construction, and refurbishment. Float glass has been prominently used as flat glass across consumer applications for its perfectly flat surface with varying sizes and thickness well suited for automobile applications. Rise in the number of new construction projects across the U.S., along with growing international investments, has fueled the demand for different types of architectural flat glass, which is poised to foster market outlook through the forecast timeframe.
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Architectural flat glass is a crucial construction component in school buildings, universities, and other complexes. With rising prevalence of educational facilities in North America and the surging influx of international students, the educational institutes end-use segment is slated to grow at a CAGR of more than 7.5% over the review period.
Meanwhile, the healthcare facilities end-use segment was valued at about USD 710 million in 2021 and is likely to witness notable expansion up to 2028 driven by mounting investments toward the improvement of healthcare infrastructure in the post-pandemic period. Integration of architectural flat glass in healthcare facilities of North America is also set to be accelerated by increasing government spending on healthcare infrastructure and R&D projects.
Key reasons for North America architectural flat glass market growth:
- Surging usage in educational institutes.
- Growing utilization in healthcare facilities.
- Rising adoption of insulating glass in the region.
- Prominent application across the construction industry.
2028 forecasts show the 'insulating' segment retaining its dominance:
Based on product, the North America architectural flat glass market size from the insulating segment was valued at more than USD 1.3 billion in 2021 and is projected to expand at approximately 7.5% CAGR by 2028. Soaring investments in the healthcare sector and increasing business and transportation activities have bolstered the prevalence of commercial as well as corporate spaces, which is foreseen to accelerate segmental development in the forthcoming years.
Mexico to continue its top status in terms of revenue:
Based on country, the Mexico architectural flat glass market was valued at about USD 945 million in 2021 and is projected to exhibit a CAGR exceeding 8.5% by 2028. The country offers lucrative scope for market growth on account of the expanding construction and transportation infrastructure industry, along with significant developments in the energy, telecom, transportation, water & sanitation, and tourism industries.
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Impact of COVID-19 on North America architectural flat glass market:
The COVID-19 outbreak amplified the need for robust healthcare facilities and efficient medical supply chains, thereby resulting in increased government spending to strengthen the healthcare infrastructure and research activities. The pandemic also adversely affected the construction industry in the U.S. and brought construction projects to halt, which caused a decline in the demand for construction components such as flat glass. However, widespread immunization efforts across the region and increased government focus on accelerating post-pandemic economic recovery have aided many industries to resume operations, including the construction sector, which has been lucrative for business growth recently.
Leading market players:
Major players in the North America architectural flat glass industry include Paragon Tempered Glass LLC, Vitro Architectural Glass, Guardian Glass LLC, Corning Incorporated, Xinyi Auto Glass, AGC Glass North America, Saint-Gobain Glass, Dillmeier Glass Company, Cardinal Glass Industries, Trulite Glass & Aluminium Solutions, Sisecam Group, Central Glass Co Ltd, NSG Group, and Schott AG.
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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SOURCE Global Market Insights Inc.
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