According to the UK-based Bowmedia Group's market intelligence report on the global glass industry trends released this week, the construction of new high-rise buildings will continue to fuel the main demand for flat glass products from the GCC, while across the globe, glass demand has been chiefly led by manufacturing, automotive & transportation, and packaging industries.The Bowmedia report states that international demand for flat glass is forecast to rise 7.1 percent per year through 2016 to reach 9.2 billion square meters, in a continuation of the trend seen over the past two decades.The global market value of fabricated flat glass is forecast to reach $90 billion in 2016, benefiting from the rapid growth of energy-efficient products such as solar control panels, insulation and low-E glass.
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GCC's glass industry ready for unprecedented growth
The GCC glass industry is witnessing a period of unprecedented growth driven by a significant acceleration in new construction and infrastructure projects announced by regional governments.