Vietnam Float Glass Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)

Vietnam Float Glass Market Overview

The government's emphasis on infrastructure development, including large commercial projects and high-rise apartments, is anticipated to fuel the growth of Vietnam float glass market, with float glass being utilised in windows, facades, and partitions.

The growing shift towards energy efficient building and rising demand of solar panels is estimated to boost the demand of float glass in Vietnam. As Vietnam strives to meet its target of 20% renewable energy by 2030, the demand for float glass is expected to continue to grow.

Vietnam is setting ambitious goals for its automobile industry by 2030, aiming to boost the market share of domestically produced vehicles and supporting industries. The country is targeting a strong fleet of 1.5 million vehicles annually, meeting 78% of market demand by 2035. This growth is expected to drive increased demand for float glass, particularly for vehicle windows such as windshields and side windows, thereby increasing the Vietnam float glass market share.

According to the Vietnam Automobile Manufacturer’s Association, the market recorded sales of 340,142 units, marking a 12.6% year-on-year increase in 2024. Moreover, as per the Ministry of Industry and Trade, Vietnam's automobile market could grow by approximately 12% by 2025, with sales estimated to reach 600,000 units.

Figure: Number of new residential real estate projects approved for construction

The construction sector in Vietnam has seen robust development in the past few years. According to the General Statistics Office of Vietnam (GSO), the construction sector has consistently contributed 6-7% to the country’s GDP over the past decade, adding USD25.6 billion (+8% YoY) to the nominal GDP in 2023.

Additionally, from 2013 to 2023, residential construction accounted for 41% of the total construction value, followed by industrial & commercial at 32%, and infrastructure at 27%. The growth in these segments is driving demand for Vietnam float glass market, particularly for windows, facades, and partitions in residential and commercial buildings, as well as for energy-efficient solutions in infrastructure projects.

Vietnam Float Glass Market Growth

The growing construction market and rapid technological advancements in float glass manufacturing are expected to boost the Vietnam float glass market development. Vietnam's construction industry, valued at USD 95.8 billion in 2023, is projected to grow at an annual rate of 7% from 2024 to 2027, creating strong revenue generating avenues for the players. Further, Vietnam’s urban population reached 37.4 million in 2022, accounting for 37.55% of the total. With urbanisation projected to exceed 57.3% by 2050, the demand for modern residential and commercial spaces is set to grow sharply.

Vietnam’s construction sector is pushing toward sustainability, fueled by rising energy costs, rapid urbanisation, and supportive green policies. In 2024, the country had 381 green building projects underway, projected to reach 582 by 2030. Low-E float glass, valued for its energy-saving properties, is poised for increased adoption, supporting future growth in the Vietnam float glass market.

Key Trends and Developments

Vietnam Float Glass Market Trends

Vietnam float glass market benefits from an active construction pipeline supported by both public and private investment. Major commercial developments such as IFC One Saigon, The Nexus, and Sunshine Empire are progressing in urban centers like Ho Chi Minh City and Hanoi, while infrastructure projects including Long Thanh International Airport and Lien Chieu Port in Da Nang signal continued expansion in transport and logistics. In the housing sector, Vietnam is accelerating efforts to build 100,000 social houses by 2025 to address the increasing demand for affordable housing. This surge in construction activity bolsters domestic demand for float glass, particularly for applications in glazing, facades, partitions, and interior fittings, further solidifying the industry's growth trajectory.

Vietnam Float Glass Market Opportunities

Vietnam's ambitious energy transition, which includes increasing solar energy's share to 16% by 2030 presents a significant opportunity for the Vietnam float glass market expansion. Large-scale solar farms, rooftop solar installations, and energy storage systems require high-quality float glass as a base material for solar panels. With Vietnam forecasting power demand to exceed 211 GW by 2030, driven by rapid economic growth, domestic manufacturers have the chance to align their production capabilities with this surge in demand. By investing in advanced technologies to produce durable and high-transparency float glass tailored for solar applications, local producers can capitalise on this renewable energy push and position themselves as key suppliers in both domestic and international markets.

The automotive industry is projected to grow by 14–16% annually through 2030, with total vehicle consumption expected to exceed one million units by the end of the decade, according to a draft strategy submitted to the government. This includes a significant share of electric and hybrid vehicles, estimated at 350,000 units, which require specialised glass solutions such as laminated windshields, tempered side windows, and coated rear glass. The expansion of domestic vehicle production and supporting industries creates an opportunity for manufacturers in Vietnam float glass market to invest in advanced processing capabilities tailored to automotive applications. By aligning with this growth trajectory, local producers can reduce reliance on imports and establish themselves as key suppliers in Vietnam’s rapidly evolving automotive supply chain.

Vietnam Float Glass Market Restraints

High fuel and electricity expenses continue to drive up operational costs in Vietnam float glass market. The industry depends on continuous furnace operations that consume large volumes of energy, and recent shifts in pricing have increased pressure on manufacturers. As of November 9, 2023, the average retail electricity price was adjusted to 2,006.79 VND/kWh (0.084 USD/kWh, excluding VAT), reflecting a 4.5% increase compared to previous rates. Natural gas prices also remained unstable, reaching USD 2.9 per MMBtu in May 2023. Most float glass facilities operate without waste heat recovery systems or combustion optimization technologies, resulting in higher fuel use and maintenance loads. These combined factors elevate overall production costs and reduce operational efficiency across the sector.

Vietnam Float Glass Industry Segmentation

Vietnam Float Glass Market Share

Market Analysis by Type

Booming automotive sector is boosting the demand of clear float glass market. Clear float glass is widely used in manufacturing windshields and windows for vehicles. Vietnam's goal of producing 1.5 million vehicles annually by 2030 is expected to drive significant demand for float glass, especially for vehicle windows. According to the Ministry of Industry and Trade, Vietnam's automobile market could grow by approximately 12% by 2025, with sales estimated to reach 600,000 units.

Expanding construction sector and growing emphasis on energy efficiency and solar control in modern buildings is driving the Vietnam float glass market growth. Additionally, the growing focus on green buildings is increasing demand for tinted float glass, as it enhances energy efficiency by reducing heat and glare, making it ideal for eco-friendly construction. Vietnam's housing demand is projected to grow by 70 million square meters annually, equivalent to 17,500 of 30 floors by 2030. This growth is expected to drive construction activity and, in turn, increase demand for tinted float glass in the country.

Market Analysis by Application

As per the Vietnam float glass market analysis, Vietnam's construction sector grew 7.48% in the first nine months of 2024, boosting demand for float glass in buildings. Expanding infrastructure and modern architecture drive the need for high-quality, energy-efficient glass in windows, facades, and interiors. Further, Vietnam’s construction industry is set to grow at 7% annually from 2024 to 2027, backed by a USD 30 billion national budget approved in 2023. This sustained expansion positions Vietnam as a key player in Southeast Asia’s construction market, driving higher demand for float glass in building and infrastructure projects.

Vietnam's automotive market recorded 340,142-unit sales in 2024, reflecting a 12.6% year-on-year growth, according to the Vietnam Automobile Manufacturers' Association. With vehicle production and sales on the rise, the demand for float glass in the automotive sector is also increasing. Furthermore, Vietnam aims to produce 1.5 million vehicles annually by 2035, meeting 78% of market demand and exporting 90,000 units, with a focus on eco-friendly vehicles. This expansion drives demand for float glass in the automotive sector, particularly for windshields, windows, and sunroofs.

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If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Vietnam Float Glass Market Regional Insights

The Red River Delta, including key hubs like Hanoi and Haiphong, hosts 48% of Vietnam’s automotive clusters, making it a major center for OEM suppliers and vehicle manufacturing. This strong automotive presence fuels demand for float glass in windshields, side windows, and sunroofs. Furthermore, the Red River Delta dominates Vietnam’s construction industry, accounting for 39.5% of net revenue and 28.7% of companies. This concentration fuels rising demand for float glass, driven by construction activity.

As per the Vietnam float glass market report, Vietnam’s construction industry is heavily concentrated in the Southeast region, contributing 33.4% of net revenue and housing 32.5% of companies. This dominance directly fuels demand for float glass in the region, driven by extensive urban development, infrastructure projects, and commercial real estate growth. Ho Chi Minh City, a key part of Vietnam’s Southeast region, is set to complete more than 3,700 apartments across six projects by 2025. This surge in residential construction fuels demand for float glass in applications like windows, facades, and interiors.

By 2030, the Mekong River Delta is projected to grow at an annual rate of 6.5-7%, with its economy expanding 2-2.5 times compared to 2021. This economic growth drives increasing urbanisation, infrastructure projects, and industrial expansion, boosting demand for float glass in construction, commercial buildings, and manufacturing. In addition, as residential construction expands, the float glass market in the Mekong River Delta is set to grow. For instance, An Giang province plans to build 6,300 social houses by 2030, fueling the need for float glass in windows, doors, and facades.

Competitive Landscape