company news about Global Float Glass Market Size Maintains Growth Philippines Among China's Export Destinations

Global Float Glass Market Size Maintains Growth

Philippines Among China's Export Destinations

  Float glass, also known as float plate glass, is a kind of glass product made by the float process. According to product characteristics and uses, float glass can be divided into ordinary float glass, dyed float glass, reflective float glass, laminated float glass and other types.

  From the perspective of raw materials, soda ash, limestone, dolomite, etc., are the main raw materials for float glass production, and the changes in supply and market prices will largely affect the development trend of the float glass industry. Take soda ash as an example, according to the data released by USGS and ihs market, in 2022, the global soda ash production reached 58 million tons, an increase of 3.4%, mainly distributed in China, the United States, Europe, Turkey and other countries or regions.

  From the application point of view, float glass has the advantages of good flatness, superior transparency, good optical properties, strong impact resistance, easy processing and installation, and high production efficiency, and is widely used in construction, automobiles, optical lenses and other fields. According to the "2024-2028 Global Float Glass Regional Pattern and Target Market Positioning Analysis Report" released by Xinsi Industry Research Center, in recent years, with the continuous release of downstream demand, the global float glass market has developed rapidly. In 2023, the global float glass market size reached 250.25 billion yuan; It is expected that in 2024-2028, this value will maintain a compound annual growth rate of 2.1%, and is expected to exceed 276.8 billion yuan by 2028. Among them, the Asia-Pacific region represented by China is the main revenue market of the global float glass industry.

  In the Philippines, the application of float glass is mainly concentrated in the fields of construction and automobile. For example, in the construction sector, the Philippine construction industry has been growing rapidly in recent years due to its favorable geographical location, abundant labor resources, and good foreign trade policies. According to the data released by GlobalData, in 2023, the Philippine construction market size reached 65.2 billion U.S. dollars; and it is expected that from 2024 to 2028, this value will still maintain a compound annual growth rate of 7% increase. Float glass, as a kind of construction material, along with the rapid development of the Philippine construction industry, its application demand is also released.

  In addition, in the automotive field, the Philippines is also one of the four major automotive producers in Southeast Asia. Specifically, according to the data released by Marklines, in 2023, the Philippine's automobile production reached 100,000 units, only after Thailand, Indonesia and Malaysia. Float glass is an indispensable key component in the automotive industry, and along with the rapid development of the Philippine automotive industry, the demand for its application is growing rapidly.

  Xinsiwei global market analysts said that the Philippines is an important global demand market for float glass, mainly concentrated in construction, automotive and other fields. However, on the supply side, the Philippine float market still relies on overseas imports, with China as its key source of imports. According to the statistics of China's General Administration of Customs, in 2021, the export quantity of China's float glass reached 466,100 tons, and the export value reached 2.943 billion yuan; among them, the float glass exported to the Philippines amounted to 37,900 tons, accounting for about 4.1%, and the value reached 219 million yuan, accounting for about 3.4%.

From http://www.newsijie.cn/.

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