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The glass market is estimated to grow by USD 99.26 billion at a CAGR of 5.77% between 2022 and 2027. The increasing consumption of beverages, such as soft drinks, juices, and alcoholic beverages, is driving demand for beverage packaging solutions, including bottles, cans, and cartons. The increasing demand for pharmaceutical packaging is driven by factors such as the growing pharmaceutical industry, increasing use of medications, and stringent regulations for packaging and labeling of pharmaceutical products.
The growing demand from the automotive industry is driven by factors such as increasing vehicle production, demand for lightweight and fuel-efficient vehicles, and technological advancements in automotive materials and components. The construction industry's growth is also driving demand for packaging solutions for construction materials, equipment, and components.
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This report extensively covers market segmentation by type (container glass, flat glass, and others), application (packaging, construction, automotive, electrical and electronics, and others), and geography (APAC, Europe, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The market share growth of the container glass segment will be significant during the forecast period. Due to their capacity to retain chemical inertness, sterility, and non-permeability, containers are frequently used in the alcoholic and non-alcoholic beverage industries. Essentially, silica and boron trioxide are the two principal components used to create a container. However, the process of making a container releases a variety of air-polluting substances, such as sulfur dioxides, and nitrogen oxides, and causes several health-related diseases. Hence, the segment is expected to witness moderate growth during the forecast period.
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The container glass segment was valued at USD 124.62 billion in 2017 and continued to grow until 2021. They are most suitable for usage in the food and beverage, pharmaceutical, and other end-use sectors because of their extremely low coefficient of thermal expansion (around 3x10-6 per Kelvin at 20 degrees Celsius). The demand is rising due to the rising consumption of alcoholic beverages.
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APAC is estimated to contribute 65% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market in APAC is expected to grow at a significant rate during the forecast period compared with that in other regions. Growing urbanization, infrastructure construction, and government incentives and assistance for implementing high energy efficiency solutions, particularly in developing nations, are the primary market growth drivers in APAC. In APAC, the market is dominated by China, India, and Australia. Chinese consumers spend a lot of money on high-end interior, wall, and roofing materials. The region's most important market is China. The expansion of the market in APAC for the forecast period will be fueled by an increase in the construction of buildings, shopping malls, office buildings, hospitals, data centers, and telecom facilities.
The market is witnessing significant growth due to investments in infrastructure development and the rising demand for consumer electronics. Industry trends indicate a growing focus on advancements in chip and semiconductor technology, driving demand for raw materials in the electronics sector. The use of these in telecommunication devices, residential and commercial construction, and recyclable materials for windows, doors, railings, and containers is on the rise. The construction activities, automobile industry, and food and beverage industry are key sectors driving economic activities, leading to increased demand. This presents growth opportunities for the market, particularly in the production of Annealed Glass. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing consumption of beverages is notably driving the market growth. The demand for these containers in the food and beverage industry is surging due to various factors, including increased investments in infrastructure development and rising consumer electronics preferences. This uptick is fueled by advancements in chip and semiconductor technology, leading to a surge in the production of telecommunication devices. Moreover, the use of these containers extends beyond the food and beverage sector, encompassing residential and commercial construction for applications such as windows, doors, and railings.
During the forecast period, the global market is poised for growth, driven by the proliferation of various package sizes and the introduction of fresh products. As economic activities flourish, particularly in domestic construction and industrial sectors, there's a parallel rise in the demand for packaging. The recyclable nature of these further enhances its appeal, especially in sustainable manufacturing practices. These industry trends present significant growth opportunities for these container manufacturers, positioning them for substantial expansion in the market.
The increasing use of flat glass in photovoltaic modules and e-glass is the key trend in the market. Manufacturers are actively investing in various energy-efficient solutions to counter the rising energy costs without compromising on the quality of the services provided. The reduction in the prices of solar photovoltaic (PV) modules and the increase in government support for the development of renewable energy is driving the demand from the energy industry.
This is used as protection against sun rays and excessive temperature. The demand in the building industry has increased as a result of increased awareness of the advantages of e-glass. The demand in solar PV modules has recently been fueled by factors including deregulation and the restructuring of power-generating enterprises to reduce greenhouse gas emissions (GHG). During the forecast period, this is anticipated to have a positive effect on market growth.
Fluctuations in raw material prices is the major challenge impeding market growth. The major raw materials used in manufacturing these containers include sand, soda ash, and limestone. Fluctuations in the supply of these raw materials significantly affect their prices. The high demand for a specific raw material also leads to an increase in its price. Soda ash is one of the major raw materials in its manufacturing, and it accounts for more than 50% of the total cost. The price of soda ash has been continuously rising since January 2018.
Container producers typically raise the price of the finished goods to make up for the rising expenses of raw materials. The high cost of the containers would deter customers from purchasing the goods, which would lower sales volume and have a detrimental effect on the market growth.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
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.
Fuyao Glass Industry Group Co. Ltd. - The company offers glass products such as Rail transit glass and Automotive glass as its key offerings. The company is into designing, manufacturing, distribution, and after-sales service for glass products such as automotive glass and float glass.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market players, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The 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.
The market is influenced by various factors such as Infrastructure industry demand, LEED buildings for sustainability, and real estate industry growth. Manufacturing activities impact supply chain challenges, while solar panels drive demand for tempered glass. Vaccine manufacturers require specialty glass for storage, and worker safety is crucial in glass production. Integrated window line technology enhances efficiency, and sound insulation is essential for comfort. Plastic containers face challenges from potential alternatives, and tinted glass protects against UV rays. Packaging applications use laminated glass for safety, and refillable and reusable glass products promote sustainability.
The market is impacted by factors like Carbon footprint and CO2 reduction initiatives. Developed economies drive demand for glass alternatives in green buildings. Commercial spaces benefit from decorative glass and colored glass. In the F&B sector, glass bottles are preferred for flavor retention properties. Glass vials are crucial for pharmaceutical companies for vaccine storage. Home interior products utilize mirrors and plexiglass. Automotive applications require toughened glass for safety. Hybrid technology is used for energy-efficient production in the market.
The market is influenced by various factors. Developing economies contribute to its growth, driven by foreign direct investment. Construction applications and industrial activities create demand for plate glass and polycarbonate. However, challenges like glass shortage and shutdown of manufacturing facilities impact the market. Condiments and dairy products benefit from glass packaging due to the health hazards associated with chemicals in plastic. The market faces supply and demand ratio issues, affecting cost of production and volatile prices. Acrylic and float glass are used in construction and housing units. Overall, the global market is dynamic, with a focus on sustainability and innovation.
Glass Market Scope |
|
Report Coverage |
Details |
Page number |
177 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.77% |
Market growth 2023-2027 |
USD 99.26 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.63 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 65% |
Key countries |
US, China, India, Japan, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
AGC Inc., Asahi India Glass Ltd., Cardinal Glass Industries Inc., Central Glass Co. Ltd., China Glass Holdings Ltd., Compagnie de Saint Gobain S.A., DBs Glass and Glazing, Dillmeier Glass Co., Euroglas GmbH, Fuyao Glass Industry Group Co. Ltd., Kibing Group, Koch Industries Inc., Nippon Sheet Glass Co. Ltd., SCHOTT AG, SHEBEI HUAJINDE GLASS CO. LTD., Sisecam, Taiwan Glass Ind. Corp., Toyo Seikan Group Holdings Ltd., Vitro SAB De CV, and Xinyi Glass Holdings Ltd. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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