GVR research shows that the global flat glass market is expected to reach US$124.14 billion in 2022, with a compound annual growth rate of 7.1%. The high demand for construction in developing countries is a key factor driving the glass market.

The demand for glass in the construction industry is growing significantly. Tempered glass, in particular, is widely used in the construction of roofs and windows. For developing countries, tempered glass is also replacing ordinary glass in roof construction due to its high strength properties.

In addition, many car manufacturers will choose to use tempered glass to produce automotive glass. Because ordinary glass shatters and scatters, its sharp shards can cause serious personal injury or endanger life. In contrast, tempered glass is becoming more and more popular because it does not easily scatter even after shattering.

With the launch of the Civil Aviation Administration of China's 12th Five-Year Plan, China will build 56 airports and renovate and expand 16 airports, which will bring new growth opportunities to the country's construction industry. China's continued development of industry, housing, and infrastructure will greatly increase the demand for flat glass.

Under the influence of strong economic growth and the removal of barriers to investment in foreign markets, the demand for glass in the Indian construction industry will be further stimulated in the next few years. Markets in Vietnam and the Philippines will also become increasingly attractive due to population growth, rapid urbanization and economic development.

Soda ash and silica sand are important raw materials for the production of flat glass. Natural gas is the main fuel in glass production. Therefore, the price fluctuation of raw materials and the supply of natural gas will be the main factors affecting the growth of the market.