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Glass Manufacturing Market Report 2020, How the Business Will Grow in 2026? Prominent Players are Saint-Gobain, Corning Incorporated, NSG Group, Schott A.G, Guardian Glass
Glass Manufacturing Market
Driven by positive application outlook in automobile, packaging and construction sector, glass manufacturing market size is projected to gain remarkable traction over 2019 - 2026. Glass is used across multiple industry verticals as it can be both, a luxurious decorative piece in a household or a functional material in an industry.
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The versatile material is witnessing wide scale application ranging from advanced aeronautics to construction. Global glass manufacturing market is forecast to surpass USD 320 billion by 2026. The use of glass has been subjected to major advancement in terms of its functional capability and its expansive application scope in multiple end-user industries.
Glass manufacturing is experiencing exponential growth owing to rapid expansion of end- user sectors such as automobiles, construction, optics and electronics. New construction, remodeling & renovation activities are on rise. The real estate industry is also tracing an upward graph. In addition, rising environmental concerns and favorable regulatory scenario is supporting the use of glass over plastic.
The key players profiled in this report are as follows::
1. Saint-Gobain S.A.
2. AGC Inc.
3. Vitro
4. Vetropack Holding AG
5. Nippon Electric Glass Co.
6. Ltd.
7. Corning Incorporated
8. NSG Group
9. Kyocera Corporation
10. Schott A.G
11. Coorstek Group
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Fiber glass segment is anticipated to register a CAGR of more than 3.2% over the analysis period. Fiber glass is experiencing extensive adoption in various end user industry including construction, chemical, manufacturing, etc. owing to attractive product features such as incombustibility, high mechanical strength, low thermal conductivity and dimensional stability. Structural advantage of the material is the key factor driving the glass manufacturing market demand.
Glass is well-suited for application in food and pharmaceutical packaging. Glass being a chemically inert material is a safer option than plastic alternatives as chemical migration rate in much higher in plastic when compared to glass. Glass can also be recycled repeatedly and has unlimited recyclable potential, making it fit for packaging and storage of food and beverages. Packaging applications holds a substantial share of over 35% in the global glass manufacturing market.
In a bid to make a transition from oil based to investment driven economy, countries including Saudi Arabia and the United Arab Emirates are increasingly investing in infrastructural development. These investments from government includes large scale construction in hospitality and tourism sector. Middle East & Africa glass manufacturing market growth is expected to gain major traction over the coming years.
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