The global flat glass industry is expected to grow at a compound annual growth rate of 5.5 percent from 2016 to 2021, according to a new report from Research and Markets.

The report focuses on flat glass used in construction, automobiles and specialty applications. It predicts that the automotive glass and specialty glass segments will see above-average growth during the forecast period.

Within the global flat glass industry, the automotive glass segment should remain as the largest market, the report says. Low interest rates and favorable taxation schemes are expected to drive vehicle sales, which would spur growth for this segment over the forecast period.

Asia Pacific is expected to remain the largest market due to increasing urbanization, growth in the real estate sector and increasing investment by flat glass manufacturers within that region.

Emerging trends, which have a direct impact on the dynamics of the industry, include increasing use of advanced nanotechnology in flat glass, solar control glazing for automotive and building glasses, lightweight glazing glass, and increasing use of hybrid guide plate. Asahi Glass Co. Ltd., Saint-Gobain SA, Corning Inc., Nippon Sheet Glass and Fuyao Group Glass Industries Co. Ltd. are the major flat glass manufacturers in the global industry. Some companies are opting for merger and acquisition to drive growth.

To learn more about the report or to order a copy of the report, click here.