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Middle East And Africa Flat Glass Market Size, Share and Industry Trends 2019 to 2024

Post Time:Jul 02,2019Classify:Industry NewsView:1173

The Middle East And Africa Flat Glass Market report expects to give a 360-degree perspective available as far as cutting-edge innovation, key improvements, drivers, restrictions and future patterns with effect examination of these patterns available for present moment, mid-term and long term during the forecast period. Further, the report likewise covers key players profiling with point by point SWOT investigation, budgetary certainties and key improvements of items/administration from the previous three years.

Top Companies in the Middle East And Africa Flat Glass Market: AGC Middle East & Africa FZCO, Saint-gobain Middle East Holding S.A.L, Schott AG, Corning Incorporated, PPG Industries LLC (VITRO SAB De CV), Phoenicia Flat Glass Industries LTD, Guardian Glass LLC (Koch Industries), Nippon Sheet Glass Co. Ltd, Kaveh Glass Group, Ghazvin Glass Co. and others.

Market Overview

The Middle East & African Flat Glass Market was 6.390 billion in 2018 and is expected to be 9.6 billion by 2024 to register a CAGR of 6.91% over the forecast period of 2019-2024. With more than 10,000 construction projects currently active in the GCC, the demand for glass and glass-related products is booming, making Dubai the regional hub for global manufacturers to meet and do business, as indicated by experts at a key industry event in Dubai.

Flat glass finds two major modes of application in the automotive industry – original equipment (OE) supplied to manufacturers for new vehicles and automotive glass replacement (AGR) products supplied to the aftermarket for retrofit purposes, usually damages.

Scope of the Report

Plate glass, flat glass or sheet glass is a type of glass, initially produced in plane form, commonly used for windows, glass doors, transparent walls, and windscreens. For modern architectural and automotive applications, the flat glass is sometimes bent after production of the plane sheet.

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Key Market Trends

Construction End-User Vertical to Account for the Largest Share

Construction is the largest end-user segment of the market studied. Similar to most of the oil-based economies around the globe, most of the Middle East & African economies were severely hit by the low crude oil price situation, during the past four years.

As a result, several residential and commercial construction works have been restrained, leading to a high number of backlogs, in recent years. The situation worsened further when the Organization of the Petroleum Exporting Countries (OPEC) decided to initiate production cuts, which influenced the demand for flat glass equipment, such as protective glass, which are in high demand, from the construction vehicles involved in the operations.

United Arab Emirates Accounts for a Major Share

The country remains a leading construction market in the GCC, and is on the track to deliver growth in 2018, in the lead up to Expo 2020, with steadily improving demand for the region’s building sector. The country also increased its expenditure on infrastructure and construction projects by about 43%, in 2018, as it continues to prepare for Expo 2020. The Dubai government has set aside a budget of AED 11.886 billion (USD 3.2 billion), for infrastructure projects. An estimated AED 5 billion has been allocated for Expo 2020 alone.

Source: http://marketresearchheadlines.com/Author: shangyi

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