Glass Manufacturing Market Overview with Detailed Analysis, Competitive landscape, Forecast to 2026

 

As per a research report by Global Market Insights, Inc., glass manufacturing market is estimated to surpass a $320 billion valuation by 2026.

With the ongoing growth of the construction and automobile sector, the glass manufacturing market is estimated to record substantial gains over the forthcoming time period. Given the rapidly expanding end-use industries and the subsequent rise in product demand, numerous key industry players have been concentrating on innovating new solutions that help them consolidate their respective positions across the market landscape. For instance, in July 2020, Guardian Glass, a Michigan-based industrial manufacturer of glass, building, and automotive products, reportedly launched and commenced the production of a new, technologically advanced glass coater in its Poland-based facility. The glass coater with the use of advanced technology that transforms basic flat glass into a value-added, high- performance glass. The coating would allow the firm to expand its low- emissivity solar control glass production for residential and commercial applications.

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The revenue graph of the industry is also expected to grow exponentially due to the product’s integrality across a plethora of rapidly growing end-use sectors like optics, electronics, automobiles, and construction. The ongoing expansion of the real estate industry and the subsequent rise in new construction as well as infrastructure upgradation initiatives would majorly drive the market outlook.

Following is a brief overview of key trends that are stimulating the market growth:

Adoption of fiber glass across end user industries

Fiber glass product segment in terms of revenue, is likely to witness gains of more than 3.2% CAGR through the forecast time period. Structural benefits of the material are one of the key drivers for product demand. In fact, properties like low thermal conductivity, dimensional stability, incombustibility, and high mechanical strength are encouraging the product adoption in numerous end user industry such as manufacturing, chemical, and construction, fostering revenue growth.

Growing demand for glass packaging in food & pharmaceutical industries

Packaging segment presently holds considerable share of over 35% of the overall market since glass is preferably being utilized in several pharmaceutical and food packaging industries. In comparison to plastic, glass is more chemically inert and is a safer option since chemical migration rate in plastic is higher than in glass. Furthermore, glass can also be recycled indefinitely as it has a strong recyclable potential, this makes it a better food & beverage storage material option.

Increasing infrastructure development initiatives across MEA

The MEA glass manufacturing market is developing rapidly and is expected to witness a steady growth over the estimated timeframe. Countries such as the UAE and Saudi Arabia are heavily investing towards infrastructure development in order to move its oil based economy to a predominantly investment driven economy. The investments from government comprises of large-scale construction in hospitality and tourism sector, creating immense demand for the glass sector.

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Rising product demand across APAC end-use industries

Asia-Pacific glass manufacturing market is slated to witness momentous growth over the forecast time period. In 2018, the APAC glass manufacturing market held over 40% market share due to high consumption of glass in its flourishing end-use industries like telecommunications and electronics. In fact, the Indian glass market has emerged as a lucrative growth avenue over the recent years owing to the thriving construction and automotive sectors in the region. Additionally, over the past couple of years the industry has grown to adopt new up-to-date processes and automation extensively.

Additionally, as car designers and architects continue to increase the glass content in vehicles and buildings, the application scope for the product in these industries keep growing. Moreover, over the past few years the demand for value-added products seems to be increasing in comparison to basic glass, which is creating more opportunities that increase the sales line and elevate the product mix, largely shaping the regional outlook.

Vetropack Holdings Ltd., Vitro, Coolsreck Group, Central Glass Co., Ltd, China Glass Holdings, AIS Glass, AGC Inc., Kyocera Corporation, Guardian Glass LLC, Saint-Gobain S.A., Coolsreck Group, Corning, Nippon Electric Glass, Schott AG, CSG Holdings, and NSG Group among many others are some of the key players operating in the glass manufacturing market.

 About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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