Float Glass Price Trend and Forecast

Float Glass Regional Price Overview

Get the latest insights on price movement and trend analysis of Float Glass in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Float Glass Price Trend for the Q3 of 2024

Asia

In Asia, float glass prices have seen a significant upward trend in recent months. Driven by soaring energy costs and supply chain disruptions, major glass manufacturers in China, Japan, and South Korea have implemented consecutive price hikes.
 

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Reports indicate that float glass prices in Asia have risen by 15-25% since the beginning of 2024, with further increases expected through the end of the year as energy inflation shows no signs of abating.

Europe

The European float glass market has also experienced similar inflationary pressures. Manufacturers across the region have implemented price increases of 10-15% to offset the surge in electricity, natural gas, and raw material costs. Industry analysts forecast that European float glass prices will continue to rise in the coming quarters, as the energy crisis shows little sign of easing and producers struggle to maintain profitability. The European market is expected to closely mirror the pricing trends observed in Asia, with further upward adjustments likely throughout 2024 and into 2025.

North America

The North American float glass market has been impacted as well, with manufacturers passing on their increased operational costs to fabricators and end-users. Prices for float glass in the United States and Canada have risen by 8-12% so far in 2024, mirroring the trends observed in Asia and Europe. Looking ahead, industry experts expect North American float glass prices to remain elevated, barring any significant moderation in energy and logistics expenses.

Analyst Insight

According to Procurement Resource, the Float Glass market will remain under significant pressure, with manufacturers likely to continue raising prices to offset their escalating operational costs.
 

Float Glass Price Trend for the Q2 of 2024

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Asia

During the second quarter of the year 2024, the price performance for float glass has been quite positive in the Asian markets, particularly China. Float glass observed an uphill price trajectory despite oscillations in the feedstock soda ash prices. Since the upstream cost support was not that significant, it was the downstream sector that drove the float glass prices in a positive direction. The manufacturers in the glass industry were cautious with bulk manufacturing and processing. This kept the inventory volumes in check and declining over the given three months span.

With stressed supplies, the prices rose even in the face of regular demands. Concurrently, in China, the private banking sector reduced interest rates on private housing loans, which actually boosted the sales of construction and building materials, including float glass. The monthly average prices went from about 2.59 USD/Sqmt. to around 2.76 USD/Sqmt.

In India, on the other hand, the price trajectory for float glass was relatively flattened. With a more equaled supply and demand equation, the prices were found to be consolidated for the most part here. The shift in monthly prices was from about 2.32 USD/Sqrmt. (CIF, 2mm) in April to about 2.37 USD/Sqrmt (CIF, 2mm) in June '24. Overall, a positive market performance was witnessed.

Europe

The European float glass industry mirrored the market sentiments of the Asian markets, as the prices were found to be fluctuating in a positive manner here as well. Since the downstream demands were steady, the market still remained range-bound. The supplies, however, are expected to tighten for the region following the European Council's decision to extend sanctions on Belarus, aiming to prevent the circumvention of sanctions placed on Russia.

This regulation, adopted on 29 June, now bans the purchase, import, or transfer of specific flat glass products from Belarus into the EU. These products include float glass, surface ground or polished glass, and safety glass consisting of toughened or laminated glass. The decision follows the initial ban on Russian float glass imports after the 2022 invasion of Ukraine, with significant flows rerouted through Belarus.

North America

Float glass prices were positively motivated in the US market as well during the second quarter of 2024. The prices were found to be improving over the said span. The downstream demands improved from the construction sectors. The evolving global trade dynamics influenced the price correction. Although the market trajectory was still bound within a confined range, the overall market sentiments were positive. These developing geopolitical scenarios and trade relationships will continue to influence the glass market in the future as well.

Analyst Insight

According to Procurement Resource, the Float Glass prices are expected to continue behaving in a similar manner going forward; the market offtakes will keep on driving the prices.
 

Float Glass Price Trend for the Q1 of 2024

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Asia

The Asian float glass market underwent a slowdown during the first quarter of the year 2024. With the Chinese real estate crisis troubling the overall economy of the country, the float glass consumption also took a downward hit. After a certain firmness during the festival holidays in January, the prices closed the quarter on a lower note for float glass.

In the Chinese market, the monthly average prices went from about 3.07 USD/square meter in January’24 to around 2.85 USD/square meter in March’24. Similarly, in the Indian market, the price curve went from about 2.47 USD/square meter to around 2.31 USD/square meter in March’24. This backtracking in prices was not solely attributed to the domestic industries. A downfall in the international demands because of the supply chain hindrances, particularly in the Red Sea also caused an accumulation of stocks in the Asian markets. Conclusively, a downward wavering price trend was observed.

Europe

The scenario for the European float glass market was not much different from the Asian float glass markets. The prices were found to be oscillating at the lower side of the curve. Because of the heightened inflation in the European markets, the construction sector was struggling in the region.

The Russia and Ukraine war entered its third year, which kept meddling the supply chains. The commencement of the Israel-Hamas war also curtailed the trade sentiments for float glass. Shipping hindrances were also prevalent in the Red Sea, which mitigated the shipping routes between Asia and Europe. Overall, a weak market performance was observed for float glass in the European markets during Q1’24.

North America

Compared to its Asian and European counterparts, the American float glass market was more balanced during the said duration of Q1’24. The supply and demand outlooks sustained borderline parity as the trend remained range-bound throughout the given span. A slight recovery in the long-term outlook of the American economy after the interest rate crisis also helped in correcting the price dynamics for float glass. However, the geopolitical uncertainties in the global markets pushed the market downwards occasionally, and the general outlook exhibited borderline stagnancy for the majority of the period.

Analyst Insight

According to Procurement Resource, given the current slowdown in the global float glass markets, the prices are expected to improve going forward in the coming months.
 

Float Glass Price Trend for the Second Half of 2023

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Asia

Float glass prices were found to be fluctuating throughout the second half of the year 2023. In the Indian market, the average monthly prices went from around 2.55 USD/sqmt (CIF, 2mm) to about 2.46 USD/sqmt (CIF, 2mm). Whereas, in the Chinese market, the average monthly spot prices went from around 3 USD/sqmt in July '23 to about 2.60 USD/sqmt in December '23.

These price fluctuations were attributed to various factors, including traders' stockpiling, favorable real estate policies, and the implementation of new national standards. However, there are concerns about rising raw material costs, particularly soda ash, which could impact production costs. In terms of performance, many listed glass companies faced losses in the first half of 2023 due to factors such as weak demand in the real estate sector and high raw material prices, but some losses have narrowed compared to the previous year.

Europe

The European float glass market was highly influenced by the Chinese market during the second half of 2023. The prices were mostly found to be wavering at the lower end of the curve for the majority of the said period. Some correction in selling prices was seen in the latter phase of the fourth quarter, but that, too, was primarily driven by the rise in soda ash prices during that time. The supply chains were distraught as the Israel-Hamas war began in the Middle East. Overall, a mixed market performance was witnessed.

North America

Impacted by the sluggishness in the global float glass market the prices were observed to be wavering within confined limits in the American markets as well. The supply and demand outlooks maintained relatively more parity here compared to the other major global markets; hence, the observed trend was almost stable here. Growing regional and global uncertainties threw some challenges; however, the float glass market still remained buoyant in the North American markets.

Analyst Insight

According to Procurement Resource, the Float Glass prices are not expected to incline much in the coming quarter as the inventory pressure is pushing the prices down in global markets.
 

Float Glass Price Trend for the First Half of 2023

Asia

The price trend of glass inclined in the first quarter as the prices of silicon dioxide and other feedstock materials rose as the inventories were low while demand grew gradually. In addition to this, the initiation of the spring festival in China and the rising cost of crude oil helped the price trend of glass to surge. However, the second quarter did not prove to be favorable for the growth of the glass market. In Q2, increased rates of production and the spike in inflation rates caused disruptions in glass prices.

Europe

In European countries, the price trend of glass had a significant incline owing to the high cost of production and rising inflation in the first quarter. However, in the second quarter, the market activities were hit by the low purchasing potential of buyers and rising levels of inventories.

The market was also slow in its recovery from the aftereffects of the pandemic, which was evident in the manufacturing of glass and related products. In addition to this, the demand from the downstream industries also remained weak, and with a rise in interest rates and declining economic conditions, the price trend of glass declined.

North America

The trend in glass prices observed in the European and Asia-Pacific regions was also followed in North America. The prices of glass inclined in the first quarter due to a hike in the cost of feedstock prices as demand rose significantly in this region. However, during the second quarter, the supply and demand equilibria were disturbed, and low procurement rates of consumers affected the prices of glass negatively, which eventually faced southwards.

Analyst Insight

According to Procurement Resource, the price trend of Glass is estimated to decline in the upcoming months. The downstream market seems slow, and high uncertainties in the market activities will lead to a fall in glass prices.
 

Float Glass Price Trend for the Second Half of 2022

Asia

The price trend of glass is dependent upon the prices of its raw materials such as silicon dioxide and calcium carbonate or limestone. The silicon dioxide market plunged in the third quarter as the trade routes got disrupted due to covid restrictions and the region was under immense pressure from the rising crude oil prices resulting from the ongoing Russia-Ukraine conflict. The market for calcium carbonate was, however, stable in the third quarter but the price took a fall in the fourth quarter. Thus, due to the weak economic dynamics of the raw material, the price trend of glass declined in the Asia-Pacific region.

Europe

The calcium carbonate or limestone market in the European region was favourable toward the surge in prices throughout the third and fourth quarters of 2022. In addition to this, the price trend of silicon dioxide also grew immensely in the said period. The rise in the prices was supported by the stable demand from the construction sector along with the ease in inflation rates. The heightened natural gas prices along with the increase in the prices of raw materials led to the incline in the price trend for glass in the European region.

North America

The prices of raw materials such as silicon dioxide and calcium carbonate rose in the third and fourth quarters of 2022. The surge in prices was due to gradually rising demand from the end-user industries, labour shortage in the market, and low operating capacities of the manufacturing plants. The disruptions in the supply chain due to the aforementioned reasons further caused the prices of glass to incline in the North American region.

Analyst Insight

According to Procurement Resource, the price trend for glass are expected to incline in the upcoming months. As the global economic situation stabilizes the rising demand from the end-user construction industries will directly impact the momentum of glass price trend.
 

Float Glass Price Trend For the Second Quarter of 2022

The Chinese glass market had a mild downturn in the first half of 2022, and the sector progressively started to lose money. The industry's customary peak season won't occur as anticipated in the coming months due to the stark supply and demand disparity and strong inventory pressure. There were302 float glass production lines in China and as of the end of June, 263 of which were actively producing float glass.

The average daily melting volume from January to June was 173,783 tonnes. A total of 8 production lines with a combined 4,450 tonnes of production capacity will be cold repaired in the first half of 2022, thereby further impacting the price trend for glass in the domestic market.
 

Float Glass Price Trend For the First Quarter of 2022

Asia

On March 30, prices were 24.2 RMB/square metre in China. Traders in Shahe, North China, were mostly flexible in their shipments, and downstream processing companies restocked supplies on demand, while logistics were hampered in some places. The overall market trade environment in East China was general, logistics were hampered in certain locations, and market prices remained consistent.
 

Float Glass Price Trend For the Fourth Quarter of 2021

Asia

Prices in Asia by the end of the year had increased by 30-40% by the final quarter of 2021. The flat glass prices per 0.04 inch increased by almost 30%. The price hike came after the increase in raw material prices globally by almost 35%. As the regional demand increased in the automotive, architectural and electronic sectors, the prices too increased as production levels were not enough to keep up with the supply requirements.

Europe

As the vaccine for coronavirus surfaced, the vial demand increased in the region for companies like Pfizer and BioNTech. Schott Ag reported a production of over two billion glass vials in 2021. CIMC in United Kingdom had planned to open a new production facility for glass in 2021.

North America

North America continued to suffer from global glass shortages which caused prices to remain high even in the final quarter of the year. This affected the prices for several other major end-user industries of glass such as the food and beverage, pharmaceuticals and cosmetics industries.

Most of the glass in US was imported from Europe and Asia but disruptions in supply chains and high freight costs drove up the prices amidst the shortage. In the meantime, its demand as a packaging material was skyrocketing with the upcoming holiday season in the region. Glass prices had risen by 5.4% by the end of the year 2021. The domestic production was at full capacity but not enough to satisfy the demand in the domestic market.
 

Float Glass Price Trend For First, Second and Third Quarters of 2021

Asia

China too followed similar patterns and witnessed a price rise in 2021. Major producers like XYG, SYP, CSG and Jinjing increased their prices for mirrors, low e-coated, low iron and float glass, etc. The float glass prices were 405 USD/MT in the region in May 2021, which was twice as much of that in May 2020.

The requirements were soaring high in both domestic and international markets as the economies recovered from the aftermath of the pandemic and the construction activities resumed. This increase in the demand pushed glass prices upwards reaching record high levels since 2012.

Glass future prices reached a value of 455 USD/MT. The main reasons for the soaring prices were accounted to limited production capacities which could not keep up with the high requirements. Other reason was global inflation which increased the prices not just for glass but also for other construction materials such as aluminium, steel, bronze, copper, etc.

Europe

In Europe, the market prices witnessed an upward trend as a result of shortages in supply in the region caused by the low inventory levels. The production in the region had been hit by the lockdowns imposed due to the pandemic. The production resumed in 2021 but was still lagging to keep up with the demand. France reported a national shortage of the product.

The demand increased after the economies reopened following the pandemic. As plastic use had been discouraged, keeping in mind the environmental situation, glass was used as a recyclable alternative as a packaging material. It also had applications in the architectural and construction industries. All these reasons coupled with the increase in raw material prices caused prices to rise in the region.

North America

The prices for float glass and coated float glass increased as a result of high freight costs, rising packaging and transportation, and raw material costs. Major companies like Virakon, Kuraray, Syracuse, etc. increased the prices of their products over a course of five months in 2021.

A glass fabricator in Midwest reported a 10-13% increase in prices in April. The rise in fuel and labour prices also contributed to the increase in prices to almost twice the value in 2021. The demand and sale had also increased by 8-13% which was yet another factor in driving up glass prices in the region.
 

Float Glass Price Trend For the Year 2020

Asia

The demand for glass mainly comes from the real estate industry which accounts for 75% of total demand. Due to the pandemic, the construction work had halted in the region and even after the lockdowns were lifted, the resumption of work was delayed.

Along with this, there were problems in logistics, especially in the main glass producing areas such as Hebei in China, where vehicles after moving from one city to another were required to be quarantined for 14 days which caused severe problems for the trading activities of the market.

This kept the inventory levels very high and prices went down in the region. The production capacities were however difficult to be brought down even amidst the soaring inventory levels which in turn pushed down glass prices. The demand was mostly negligible as China suffered from the epidemic, causing a slowdown in the construction activities.

Europe

Due to the onset of the covid-19 pandemic, several major end-user industries for glass were heavily impacted in Europe in 2020. The imposed lockdowns had slowed down the sales of cosmetic products and fragrances in Germany, UK, Italy and France. The wine and liquor sectors were also hit by the lockdowns. However, downstream sectors like food and beverage and pharmaceuticals drove the market in the region.

Europe is one of the major glass manufacturing countries with over 162 manufacturing plants. As more and more focus is being given to reduce the plastic use and switch to recyclable products, the demand in the region is generally high with major applications in packaging. In Germany, a major pharmaceutical glass packaging company, Gerresheimer Ag, increased its production using recycled glass.

North America

The flat glass market globally was valued between 111.3 to 265.85 billion USD in 2020. The pandemic had affected the sector adversely. Several manufacturers were forced to halt operations temporarily to comply with the restrictions mandated by the government. This ultimately had a detrimental effect on the automotive sector and crippled construction activities which in turn affected the demand for the product, the construction industry being a major end-user.

In the second half of 2020, the industry recovered a bit in spite of the setbacks. In the first half of 2020, Fuyao Glass Industry Group reported a loss of 13.4 million USD. However, as the economy reopened in the second half, the residential and commercial construction projects resumed which in turn positively impacted the demand in the region. Tomakk Glass Partners announced a new fabrication facility in Louisiana to keep up with the rising demand in the region.

Procurement Resource provides latest prices of Float Glass. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.