Press release
Glass And Glass Product Manufacturing Market a compound annual growth rate (CAGR) of 5.2% for 2016-2020
Report Scope:
This research report categorizes the glass and glass products manufacturing market by type. Product type include flat glass, container glass, and glassware & other glass products.
Report Includes:
- 90 data tables
- An overview of the global market for glass and glass products.
- Analyses of market trends, with data from 2012 through 2016, estimates for 2017, and projections of compound annual growth rates (CAGRs) through 2020.
- Evaluation of the market across regions.
- Comprehensive discussions of where the state-of-the-art is in glass and glass products manufacturing.
- Market dynamics, including market drivers, restraints, and opportunities.
- Company profiles of the major players in the industry.
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Summary
Global glass and glass products manufacturing market is currently in a very crucial phase of transformation. Increased economic activity as a result of a rise in disposable income drove the glass and glass product manufacturing market in emerging markets such as India and China. This trend was mainly driven by India and China where a rise in infrastructure development, and growth in the automotive manufacturing sector led toincreased demand for glass and glass products. At the same time, increasing use of plasticpolycarbonate products as a replacement for glass products affected growth of the glass and glass products manufacturing market. PET bottles are increasingly being used in wine bottles, bottles for sauces, oils and other products. In addition, growth of the automotive industry in many parts of the world and decline in natural gas prices in many parts of the world helped generating demand for glass and glass products market which relies on natural gas for its operation.
The market for glass and glass products manufacturing reached a value of nearly REDACTED in 2016 and is expected to grow at a compound annual growth rate (CAGR) of REDACTED to nearly REDACTED by 2020.
The market for glass and glass products manufacturing is marginally consolidated with a few large players dominating the market. Major players in the market are Asahi Glass, Owens-Illinois, Saint- Gobain, Guardian Industries, Nippon Sheet Glass Co., Ltd, Corning Inc. among others. Flat glass accounted for the largest share of the market for glass and glass product manufacturing in 2016 at REDACTED. The highest growth is projected to come from flat glass market, which is forecast to grow at a CAGR of REDACTED.
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Asia Pacific is the largest market for glass and glass product manufacturing, accounting for REDACTED of the global market. It was followed by Western Europe and North America. Going forward, Asia Pacific is expected to witness the fastest growth in the glass and glass product manufacturing market, estimated at a CAGR of REDACTED, followed by Middle East, expected to grow at a CAGR of REDACTED.
China is the largest market in terms of value and is driving the market for glass and glass product manufacturing. China and UK are expected to have the fastest growth, growing at a CAGR of REDACTED and REDACTED, respectively.
The market is challenged by increasing interest rates and reduction in free trade over the forecast period
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