Dyesol posted an update on their website about the Bloomberg stuff today. Nothing new in it, but it was talking about the glass market they are going after with pilkington, so I decided to run some numbers.
"Initially the collaboration will address the non-view glass market (spandrel) which accounts for 40 per cent of the total glass market. The global market for flat glass is estimated to be 6 billion square metres in 2010 and growing at 5 per cent a year."
40% of 6B is 2.4B Now I haven't looked up Pilkington's market share, or how much of pilkington's glass they expect to cover in DYE material. But with a starting point of 2.4Bn, each 1% of that market share gained would be 24m sqm * $50sqm = $1.2Bn Which is bigger than the whole Corus project, from a single % of market share for non view flat glass.
Puts some perspective on why they are so excited by glass and pursuing it in 4 markets (US, Italy, Turkey, Korea)
Just thought I would pass it along, I had never really sat down and compared glass to steel.
GSL Price at posting:
98.5¢ Sentiment: LT Buy Disclosure: Held
