Bright Future Projected for Flat Glass in Solar Energy
Worldwide demand for flat glass in all markets is forecast to grow 4% per year to 11 billion sq m in 2021, slowing from the 2011-2016 performance as growth moderates in China.
Global demand for fabricated flat glass in solar energy is forecast to grow at a 20% annual rate to $8.5 billion in 2021, according to a recent study from The Freedonia Group. The pace of gains will be similar to that of the 2011-2016 period, as solar energy continues to penetrate global markets and the rapidly expanding base of installed solar systems will support replacement sales for rooftop solar panels and related products.
Solar panel production is highly concentrated in a small number of countries, primarily China and other Asia-Pacific countries such as Malaysia, Singapore, South Korea, and Taiwan. As a result, demand growth for fabricated flat glass in this application will be concentrated in the Asia-Pacific region, in spite of the global nature of the expected solar energy boom.
Worldwide demand for flat glass in all markets is forecast to grow 4% per year to 11 billion sq m in 2021, slowing from the 2011-2016 performance as growth moderates in China. In value terms, demand will rise 4.3% per year to $86 billion. Factors driving demand growth include:
- Rising building construction activity worldwide, particularly in developing countries in the Asia-Pacific and Africa-Mideast regions
- Increased motor vehicle production and expanding motor vehicle ownership rates as personal income levels rise
- Rising manufacture of glass-intensive goods such as appliances, furniture and mirrors
- Rapid expansion in the global solar energy industry, including both traditional solar panels and innovative building-integrated photovoltaics (BIPV) systems
For more information, visit www.freedoniagroup.com.