Glass Manufacturing Market Analysis & Forecast | 2023-2028

Market Insights

The glass manufacturing market is estimated to grow from USD 111.62 billion in 2022 to reach USD 149.6 billion by 2028 at a healthy CAGR of 5% during the forecast period.

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What is Glass Manufacturing?

Glass has evolved from a luxurious aesthetic piece to a functional and crucial substance. The potential for the glass manufacturing sector has certainly increased as a result of some of the major breakthroughs and revisions in technologies.

Market Dynamics

The growth of the glass manufacturing market is primarily driven by:

• Growing applications of glass in electronic and telecommunication devices are significantly bolstering the industry expansion.
• Surge in consumption of glass products for various construction activities in developing countries across the globe.
• Government initiatives supporting infrastructural development will corroborate the product share over the following period.

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Segment Analysis

Product Trends

The market is segmented as flat glass, container glass, fiber glass, and specialty glass. Specialty glass is expected to witness significant growth rate in the market during 2023-28.

The growth of the segment is owing to the increase in offerings offered by specialty glass products such as tableware, cookware, scientific and medical equipment, and tubes. In addition, container glass registers more than 43.4% market share in 2021.

In many areas, specialty glass outpowers conventional glass, such as resistance to abrupt temperature fluctuations, chemical inertness, and durability. Another segment is fiber glass, which is expected to gain a large share of the market, owing to expansion in its end-industry categories such as construction and automotive.

Sector Trends

The market is segmented as packaging, automotive & transportation, construction, telecommunication, electronics, and others. The electronics sector is estimated to account for the major share of the market during the forecast period on account of the demand for glass products in the electronics segment.

In addition, packaging segment market share of over 33.6% in 2021.

Glass is largely utilized to make display panels, televisions, and computers in the electronic industry. Glass is also used in IC packaging, semiconductors, electronic and optical sensors, energy storage devices, and other small applications.

The building industry is also an important end consumer for the glass production industry as a whole. During 2023-28, the growing construction sector, particularly in developing countries, is expected to deliver significant income gains.

Regional Insight

Asia-Pacific held the largest market share of over 38.8% in 2021 and is estimated to be the leading region in the market during the coming five years, owing to the fact that the region's high population density, combined with strong industrial and economic growth, has resulted in increased product demand from all sector verticals.

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The demand for flat glass in the region is mostly driven by the construction industry. Many large firms have built up production operations in China and India because of the lower construction costs. The demand for glass has been bolstered by the existence of industries such as automotive and aerospace in the region.

Segmentation

The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market. 

The market is segmented into the following categories.

By product type:

• Flat Glass
• Container Glass
• Fiber Glass
• Specialty Glass

By sector type:

• Packaging
• Automotive
• Transportation
• Construction
• Telecommunication
• Electronics
• Others

By Region:

• North America 
• Europe
• Asia-Pacific
• Rest of the World

Key Players

Some of the key players in the glass manufacturing market are-

• Guardian Glass LLC
• NSG Group
• China Glass Holdings
• Corning Incorporated
• Kyocera Corporation
• Coorstek Group
• Schott A.G
• Morgan Advanced Materials
• AIS Glass
• Central Glass Ltd.

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the dynamics and will enable strategic decision making for the existing players as well as those willing to enter the market.

The following are the key features of the report:

• Overview, industry life cycle analysis, supply chain analysis
• Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Trend and forecast analysis
• Segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Customization Option

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Segmentation

• Current market segmentation by any one of the product types by sector type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com