Glass Manufacturing Market Size
Glass Manufacturing Market was worth more than USD 277.23 billion in 2023 and is expected to witness a CAGR of 7.5% during 2024-2032 bolstered by the increasing demand from the construction and automotive sector.
The growing demand for green building and sustainable architecture in the building industry is pushing the demand for energy-efficient glass, including low-carbon (Low-E) glass and solar panels. Emerging nations’ accelerated urbanization and industrialization are driving the demand for different products of glass. According to Worldbank.org, over 50% of people reside in cities. The population of the world’s cities will increase over 1.5 times to 6 billion by 2045.
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Glass Manufacturing Market Report Attributes
Report Attribute Details
Base Year 2023
Glass Manufacturing Market Size in 2023 USD 277.23 Billion
Forecast Period 2024-2032
Forecast Period 2024-2032 CAGR 7.5%
032 Value Projection USD 463.49 Billion
Historical Data for 2021-2023
No. of Pages 374
Tables, Charts & Figures 270
Segments covered Product, Sector
Growth Drivers:
Growth in demand in construction and infrastructure
Environmental and sustainability plans
Supply chain disruptions
Pitfalls & Challenges:
Economic recessions and fluctuations in key markets
The growing vehicle production in the automotive sector and the trend towards lighter and fuel-efficient vehicles will enhance the need for advanced glass materials. Glass, including laminated safety glass and tempered glass, plays a significant role in vehicle safety, looks, and functionality. Electric vehicles (EVs) and autonomous driving technologies are also further necessitating smart glasses that will enhance energy efficiency and offer features such as light reduction and heads-up displays.
Yet, the product adoption is being discouraged by high energy use and production costs of glass. Production of dyes and crystals involves a high level of energy usage, leading to high operating costs and greenhouse gas emissions. Tougher environmental policies designed to lower carbon footprints are placing added compliance expenses on manufacturers. Variations in raw material prices like silica sand and soda ash can cause disruption to the supply chain and restrict the market growth to some extent.
Glass Manufacturing Market Trends
Hello! Glass just got a whole lot cooler. Smart glass that transitions from clear to dark like a chameleon is becoming the next big thing for homes and businesses. It’s as if they built-in shades of sunglasses to save you from the sun as well as keeping your electricity bill reasonable. And get this: Scientists are also coming up with lighter, more durable glass than ever before. So thin and malleable, in fact, that you can put it to use in bendy phones as well as even wearable things such as watches. And it just keeps going. 3D printing is leading to an entire new era for glass. Now, you can design on your own terms that weren’t possible earlier. In fact, a company called Lithoz recently released a new material that allows for easier 3D printing with glass than ever before. So, hold on to your seat for a future where glass is more than just windows and is a game-changer in electronics, design, and more!
Glass Manufacturing Market Analysis
Discover more about the dominant segments defining this market
On the basis of product, the market value from the specialty glass segment will create more than USD 220.1 billion by 2032 because of its extensive list of high-value applications in different industries. Special glasses such as borosilicate, aluminosilicate and optical glass are required for robust corrosion-resistant materials in scientific instruments, medical devices, and optical components with high precision. Increased electronics sector is also propelling demand for specialty glasses with enhanced display and protective shields for smartphones, tablets, and other devices
Discover more about the most critical segments defining this market
Glass production industry from the packaging sector is poised to reach more than USD 177 billion by 2032 due to the increasing consumer shift towards sustainable and environmentally friendly packaging solutions. Glass is a desirable, non-toxic substance that retains the quality and flavor of food and drinks longer than plastic or metal, hence its popularity in packaging. The cosmetic and pharmaceutical sectors also prefer the chemical inertness of glass packaging and the protection of contents from contamination and damage.
Glass Manufacturing Market Share
Major glass producing companies are implementing master strategies, including product diversification and technological innovations to consolidate their presence. Prominent players are pouring investments into R&D operations for facilitating the manufacture of technologically advanced glass products such as high-performance lens protectors and smart lenses. The companies are also concentrating on increasing their presence in emerging markets to cater to the rising demand created by urbanization and technological advancements.
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Glass Manufacturing Market Companies
Major players operating in the glass manufacturing industry include
- Saint-Gobain S.A
- China Glass Holdings Ltd
- AGC Inc
- CSG Holding Co., Ltd
- Corning Incorporated, Vitro
- AIS Glass
- S.A.B. de C.V
- Guardian Glass LLC
- Nippon Sheet Glass Co., Ltd
- Morgan Advanced Materials
- Kyocera Corporation
- Nippon Electric Glass Co., Ltd
- Schott AG
- CoorsTek Inc
- Vetropack Holding AG
