Enjoy complimentary customisation on priority with our Enterprise License!
The Glass Manufacturing Market size is estimated to grow by USD 58.31 billion between 2022 and 2027, accelerating at a Compound annual growth rate (CAGR) of 6.04%. The growth of the market depends on several factors, such as the rise in sales of electronic display units, the high demand from the construction industry, and the rising demand for recyclable products. Advanced technologies like float glass manufacturing and automated production processes have significantly improved efficiency and quality in the industry. Sustainability initiatives, including recycling and the use of alternative raw materials, are becoming increasingly important in this market to reduce environmental impact.
To learn more about this report, Request Free Sample
The market is propelled by the demand for recyclable materials across various industries, including the automobile and construction sectors. Glass products such as façades, windows, doors, and railings cater to diverse applications, from architectural structures to packaging solutions. With the increasing emphasis on sustainability, glass manufacturers are innovating to meet the needs of solar energy applications, contributing to the growth of renewable energy sources like solar power plants. Raw material prices, especially for container and flat glass, significantly influence market dynamics, driving companies like Berlin Packaging to adapt and thrive in the competitive fiberglass segment.
In the application segment of the market, glass serves a crucial role across various industries, particularly in consumer electronic devices and the electronics sector. Scratch-resistant glasses are essential components in smartphones, ensuring durability and longevity. Additionally, glass finds extensive use in chip and semiconductor technology, contributing to the functionality of electronic devices. In the automotive industry, glass is integral to vehicle manufacturing, providing windshield and window solutions. Moreover, glass is utilized in home interior products, such as decorative glass, enhancing aesthetics and functionality. While glass competes with plastic and acrylic in some applications, its superior properties, including durability and optical clarity, make it a preferred choice in diverse industries. Overall, the application segment of the market showcases the versatility and importance of glass across consumer electronics, automotive, chemical, and home interior products, driving innovation and technological advancements in various sectors.
The packaging segment will account for a major market share during the forecast period. The market has been experiencing significant growth in the packaging application segment in recent years. Glass is an ideal material for packaging applications due to its excellent properties, such as transparency, impermeability, and chemical stability.
Get a Customised Report as per your requirements for FREE!
The packaging segment was valued at USD 63.58 billion in 2017 and continued to grow until 2021. The food and beverage industry is one of the largest consumers. The growing demand for processed and packaged foods and beverages is driving the demand for new packaging solutions. The pharmaceutical industry is also a major consumer of glass-packaging due to its chemical stability and impermeability. With the increasing demand for pharmaceutical products, the demand for these solutions is also expected to grow during the forecast period, thereby which will propel the growth of the market during the forecast period.
APAC is estimated to contribute 47% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period.
For more insights on the market share of various regions View PDF Sample now!
Rapid urbanization and increasing construction activities in the region have led to a growing demand for glass products in the building and construction industry. The automotive industry in APAC is growing rapidly, with increasing demand for use in automotive manufacturing. The growing popularity of electronic devices such as smartphones, laptops, and tablets has led to an increasing demand for these products for use in the production of displays and touchscreens. Governments in the region are implementing favorable policies and initiatives to encourage investment in this industry, which is contributing to the growth of the market.
The market is witnessing robust growth, particularly fueled by the construction & building sector's demand for recyclable materials like glass. Façades, windows, doors, and railings are among the key products driving market expansion. Additionally, glass containers cater to various industries, including the automobile sector and solar energy applications. Despite fluctuations in raw material prices, the market benefits from innovations such as scratch-resistant glasses used in consumer electronic devices like smartphones. Furthermore, glass finds extensive use in the electronics sector, particularly in chip and semiconductor technology, contributing to its widespread adoption across various industries, including home interior products and automotive manufacturing. Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market.
The rise in sales of electronic display units is the key factor driving the growth of the market. The market is being driven by the rise in sales of electronic display units, such as smartphones, tablets, and televisions. These electronic devices use glass in their displays, and the growing demand for these devices is expected to drive the demand. The increasing demand for high-quality displays with improved resolution, durability, and scratch resistance is expected to drive innovation in this industry. Manufacturers are developing new types of glass, such as ultra-thin and flexible glass, to meet the demand for these products.
In addition, the growing adoption of advanced technologies, such as 5G, artificial intelligence, and virtual reality, is expected to drive the demand for electronic devices with high-quality displays. This trend is expected to further fuel the demand for these products in the electronic industry. The rise in sales of electronic display units is expected to be a significant driver of the growth of the market during the forecast period.
Investment in new facilities is the primary trend in the global market growth. The investment in new manufacturing facilities is driven by the increasing demand for these products and the need for improved production efficiency and sustainability. Several major manufacturers announced plans to invest in new manufacturing facilities. For example, in 2020, Japan's AGC Inc. announced that it would build a new manufacturing facility in China to meet the growing demand for glass products in the region. The new plant is expected to produce high-performance automotive glass and become operational in 2022.
Similarly, in 2021, the US-based Corning Incorporated announced that it would invest USD 500 million in a new facility in North Carolina. The facility is expected to produce advanced products for smartphones, tablets, and other electronic devices and is expected to create over 300 new jobs in the region during the forecast period.
The volatility in prices of raw materials is a major challenge impeding the growth of the market. The volatility of raw material prices is a significant challenge for the industry, as the prices of raw materials such as silica sand, soda ash, and limestone fluctuate widely. For example, in the period between 2015 and 2020, the price of soda ash, a key raw material used, varied from around USD 200 to USD 500 per metric ton, depending on market conditions. The prices of raw materials can also be impacted by global economic conditions, trade disputes, and natural disasters, all of which can cause supply chain disruptions and price fluctuations.
These price variations can negatively impact profitability, particularly for smaller companies that may not have the resources to absorb the price fluctuations. They can also impact the ability of manufacturers to compete on price, quality, and innovation. Hence, the volatility in raw material prices may hamper the market growth and trends during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AGC Inc.: The company offers glass manufacturing solutions such as 99% UV Cut Glass, AS2, and Aspherical Glass.
BG Container Glass Public Co. Ltd.: The company offers glass manufacturing solutions for food and beverage packaging.
Our market trends and analysis report includes a detailed analyses of the market’s competitive landscape and offer information on 20 market players, including:
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies vendors into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Vendors are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market encompasses various sectors, including construction, automotive, and renewable energy, where recyclable materials like flat glass and fiberglass play crucial roles. Façades, windows, and doors are essential components in modern architecture, while railings provide safety and aesthetic appeal. Glass containers find extensive use in the packaging industry, facilitated by companies like Berlin Packaging and Saverglass. In the automobile industry, glass is integral to the manufacturing of vehicles, including electric vehicles. Additionally, glass contributes to the growth of the solar energy sector, powering solar power plants and consumer electronic devices. As sustainability gains momentum, the demand for glass in green buildings and solar applications continues to rise, driving innovation in the industry.
The market caters to diverse industries such as the telecom sector, construction, and electronics, with specialized segments like fiberglass meeting specific needs. Scratch-resistant glasses find applications in the electronics sector, benefiting from advancements in chip and semiconductor technology. The chemical industry utilizes glass in various forms, including plastic alternatives like acrylic, plexiglass, and polycarbonate. Within the construction and building sector, glass is indispensable for home interior products and decorative purposes. Container glass dominates the food and beverage industry due to its hygienic properties and resistance to particle migration, contributing to sustainable packaging solutions. This market's versatility ensures its continual evolution to meet changing industry demands.
The market spans various sectors, including the fiberglass segment, which serves diverse industries such as construction and building. Decorative glass adds aesthetic value to architectural designs. In packaging, glass bottles and vials ensure the safety and integrity of products like condiments, instant coffee, dairy products, and syrups, with BPA-free options meeting consumer demands. Glass's superior properties, including flavor retention and protection from UV rays, make it ideal for vaccine storage, vital for vaccine manufacturers worldwide. Despite challenges like a glass shortage, international glass manufacturers continue to innovate, producing colored glass solutions to meet the evolving needs of various industries.
The market forecasting report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Market Scope |
|
Market Report Coverage |
Details |
Page number |
167 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.04% |
Market growth 2023-2027 |
USD 58.31 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.68 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 47% |
Key countries |
US, China, India, Germany, and France |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
AGC Inc., BG Container-Glass Public Co. Ltd., Bormioli Luigi S.p.A., Central-Glass Co. Ltd., Compagnie de Saint Gobain, Corning Inc., Euroglas GmbH, Fuyao-Glass Industry Group Co. Ltd., Glaston Oyj Abp, Jinjing Group Co. Ltd., KCC-Glass Co. Ltd., Koch Industries Inc., Nippon Sheet-Glass Co. Ltd., Owens Corning, SCHOTT AG, TURKIYE SISE VE CAM FABRIKALARI A.S., and Vitro SAB De CV. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our market growth and forecasting report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.