GCC Flat Glass Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.49 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
GCC Flat Glass Market Analysis
The GCC flat glass market is estimated to reach USD 2.79 billion by the end of this year and is projected to reach USD 3.48 billion in the next five years, registering a CAGR of 4.49% during the forecast period.
The COVID-19 pandemic negatively affected the market in 2020 owing to several restrictions imposed by governments in GCC countries. However, the flat glass market recovered well since the restrictions were lifted. In recent years, the market registered a significant growth rate due to rising demand from the building and construction industry.
- The increasing demand from the construction industry and the growing demand for electronic displays are major factors driving the market's growth.
- However, the fluctuating prices of raw materials and government regulations on carbon emissions are likely to restrain the growth of the market studied.
- Nevertheless, innovative usage of flat glass for renovation projects in the construction industry is expected to create growth opportunities for the flat glass market.
- Saudi Arabia is expected to dominate the GCC flat glass market due to the rising demand from the construction, automotive, and solar end-user industries. The country is also expected to register the highest CAGR during the forecast period.
GCC Flat Glass Market Trends
Construction Industry to Drive the Demand for Flat Glass
- Flat glass is used significantly in the construction industry owing to its wide range of functions, from heat insulation to soundproofing and from safety applications to solar protection. It is extensively used in windows, facades, doors, interior partitions, balustrades, shop fronts, and railings for stairs, balconies, and other building parts. These multiple uses will boost the flat glass market during the forecast period.
- In building and construction applications, flat glass is majorly used in windows for both functional and aesthetic purposes, which allows clear sight for customers looking out of the window and, at the same time, protects them from harmful UV radiation.
- The construction industry has grown steadily in the GCC region as a result of increased construction activity in Saudi Arabia, the United Arab Emirates, and Qatar. According to the General Authority for Statistics (Saudi Arabia), the revenue for building construction is expected to reach USD 34.05 billion by 2024 compared to USD 33.97 billion in 2022.
- According to the Ministry of Energy and Infrastructure, the United Arab Emirates is investing AED 11.8 billion (~USD 3.2 billion) in nearly 130 state-funded development projects as a part of the ministry's five-year plan from 2018-2023. The ministry is implementing 17 projects to be used as healthcare facilities, 12 infrastructure developments for educational facilities, and 15 government buildings accessible to the public.
- The growing construction activities in Qatar are driving the market for flat glass. Lusail City, a key component of Qatar's 2030 Vision, the Lusail project will see the construction of a completely new city worth around USD 45 billion, with 19 multi-purpose residential, entertainment, and commercial districts. Lusail City, a futuristic sustainable city, the flagship project of Qatari Diar, will be one of the most significant development projects in Qatar.
- Therefore, such investments in the growth and development of the building and construction sector will drive the flat glass market during the forecast period.
Saudi Arabia to Dominate the Market Demand
- Saudi Arabia is one of the region's fastest-growing construction and automotive markets. Many ongoing and upcoming construction projects are expected to contribute to the demand for flat glass in the country.
- The Saudi Arabian construction market is expected to witness significant growth and lucrative potential due to massive residential and non-residential investments. Construction is underway on many industrial hubs, schools, hospitals, real estate, clean energy infrastructure, smart cities, and tourism.
- Saudi Arabia is embarking on many residential and commercial projects, which are expected to increase the construction activities in the country. Some of such projects undertaken or in various phases of development include a USD 500 billion futuristic mega-city 'Neom' project - The Neom city project includes a linear metropolis, a global commerce center, tourist resorts, and a floating industrial complex. The project was planned to be completed by 2030, wherein the completion of the first phase is expected by 2025.
- The country is also focusing on establishing itself as the new automotive hub in the Middle East. Although Saudi Arabia is a large importer of vehicles and auto parts, it is now trying to attract original equipment manufacturers (OEMs) to open their production plants in the country to develop its domestic automotive industry.
- Moreover, Saudi Arabia aims to localize its automotive sector and increase investment opportunities to help the industry develop local manufacturing capacity and align with the Kingdom's Vision 2030 goals to meet its national strategic goals. The kingdom is interested in developing the sector as domestic light vehicle sales are expected to increase by 2.2% over the next decade by 2030.
- Similarly, the demand for solar glass is increasing in the country with the implementation of new solar projects. For instance, in January 2023, Al Ghazala Energy Company, a Saudi subsidiary of Jinko Power Technology Co. Ltd, commenced construction of the 300 MW Saad Solar Project in Saudi Arabia. The project is expected to be completed in the fourth quarter of 2024.
- Overall, the growth of industries such as building and construction, automotive, and solar industries is likely to drive the market for flat glass in the country.
GCC Flat Glass Industry Overview
The GCC flat glass market is partially fragmented in nature. Some of the major players in the market include (not in any particular order) AGC Inc., Saint-Gobain, Sisecam, Nippon Sheet Glass Co. Ltd, and Emirates Glass LLC, among others.
GCC Flat Glass Market Leaders
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AGC Inc.
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Saint-Gobain
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Nippon Sheet Glass Co. Ltd
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Sisecam
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Emirates Glass LLC
*Disclaimer: Major Players sorted in no particular order
GCC Flat Glass Market News
- September 2022: Emirates Glass LLC, one of the GCC region's major processors of architectural flat glass, signed a deal with SCHOTT to develop multifunctional, laminated, and insulation glass types. These glasses are ideally suited for facades and roof glazing due to their stability upon exposure to UV radiation, fluctuations in temperature, and direct sunlight.
- February 2022: Emirates Glass LLC, one of the leading processors of architectural flat glass, upgraded its product offering by installing the Glaston Vortex Pro Jumbo Series high-performance flat tempering line to provide high-quality, larger tempered glass.
Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Increasing Demand from the Construction Industry
- 4.1.2 Growing Demand for Electronic Displays
- 4.1.3 Other Drivers
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4.2 Restraints
- 4.2.1 Fluctuating Prices of Raw Materials
- 4.2.2 Government Regulations on Carbon Emission
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
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5.1 Product Type
- 5.1.1 Annealed Glass (Including Tinted Glass)
- 5.1.2 Coater Glass
- 5.1.3 Reflective Glass
- 5.1.4 Processed Glass
- 5.1.5 Mirrors
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5.2 End User Industry
- 5.2.1 Building and Construction
- 5.2.2 Automotive
- 5.2.3 Solar Glass
- 5.2.4 Other End-user Industries (Electronics, Aerospace, etc.)
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5.3 Geography
- 5.3.1 Saudi Arabia
- 5.3.2 United Arab Emirates
- 5.3.3 Qatar
- 5.3.4 Oman
- 5.3.5 Rest of GCC
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 AGC Inc.
- 6.4.2 Asahi India Glass Limited
- 6.4.3 Burhani Group
- 6.4.4 Corning Incorporated
- 6.4.5 Emirates Glass LLC
- 6.4.6 Fuyao Glass Industry Group Co. Ltd
- 6.4.7 Guardian Industries
- 6.4.8 Nippon Sheet Glass Co. Ltd
- 6.4.9 Obeikan Glass Company
- 6.4.10 Saint-Gobain
- 6.4.11 SCHOTT
- 6.4.12 Sisecam
- 6.4.13 Vitro
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Advancements in the Usage of Flat Glass for Renovation Projects in Construction Industry
- 7.2 Other Opportunities
GCC Flat Glass Industry Segmentation
Flat glass, also called sheet or plate glass, is frequently used to create solar panels, windows, mirrors, and doors. Sand, silica, limestone, and soda ash are melted to create a liquid, which is then cooled to create a product of the required thickness.
The GCC flat glass market report is segmented by product type, end-user industry, and geography. By product type, the market is segmented into annealed glass (including tinted glass), coater glass, reflective glass, processed glass, and mirrors. By end-user industry, the market is segmented into building and construction, automotive, solar glass, and other end-user industries (electronics, aerospace, etc.). By geography, the market is segmented into Saudi Arabia, United Arab Emirates, Qatar, Kuwait, and the Rest of GCC. The report also covers the market size and forecasts for the flat glass market in 4 countries in the region. For each segment, the market sizing and forecasts are provided in terms of value (USD).
| Product Type | Annealed Glass (Including Tinted Glass) |
| Coater Glass | |
| Reflective Glass | |
| Processed Glass | |
| Mirrors | |
| End User Industry | Building and Construction |
| Automotive | |
| Solar Glass | |
| Other End-user Industries (Electronics, Aerospace, etc.) | |
| Geography | Saudi Arabia |
| United Arab Emirates | |
| Qatar | |
| Oman | |
| Rest of GCC |
Frequently Asked Questions
What is the current GCC Flat Glass Market size?
The GCC Flat Glass Market is projected to register a CAGR of 4.49% during the forecast period (2024-2029)
Who are the key players in GCC Flat Glass Market?
AGC Inc., Saint-Gobain, Nippon Sheet Glass Co. Ltd, Sisecam and Emirates Glass LLC are the major companies operating in the GCC Flat Glass Market.
What years does this GCC Flat Glass Market cover?
The report covers the GCC Flat Glass Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the GCC Flat Glass Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
GCC Flat Glass Industry Report
Statistics for the 2024 GCC Flat Glass market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. GCC Flat Glass analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
