Egypt Flat Glass Market:
Growth opportunities in the Market look promising over the next six years. This is mainly due to the continuous expansion of the construction sector and the infrastructural development followed by the rising focus of the government on smart cities in this country.
Egypt Flat Glass Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The major driver that is surging the growth of the flat glass market share in Egypt includes the continuous expansion of the construction and infrastructural developments. The construction industry in this country is increasing owing to the surging number of investments regarding the residential and energy projects. The government is planning to surge the share of sustainable power source in the country’s total energy from 3.0% in 2016 to 20% in 2022 and 37% by 2035. Moreover, the European Investment Bank (EIB) has given a credit of USD 212.3 million to encourage the development of public transport. The government is also planning build a new capital city to the East of the Cairo to have various advancement in financial development, creating employment, and attracting FDI’s. These factors are increasing the infrastructural development, thus responsible for the market growth. However, the fluctuations in the prices of raw materials along with the inadequate logistics services in the supply chain is hampering the growth of the flat glass market in Egypt.
The government is emphasizing on the development of green buildings to balance environmental sustainability and energy saving. In 2020, the government are planning to launch the country’s first green bonds to provide financial incentives in order to support sustainable developments. The government has introduced the Egypt Green Building Council, which aims to lead community transformation for Egypt and to become a beacon of sustainability and green buildings. Additionally, the decreasing amount of renewable resources, environmental concerns, and the decreasing cost of solar installations are further driving the market growth. The end-users are becoming aware about the advantages offered by energy-saving products to save electricity and reduce the cost of air-conditioning in the residential and commercial premises. This is further surging the market growth over the coming years. The rising demand for laminated glass owing to the growing number infrastructural and construction projects in the country is further driving the market growth.
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