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Glass Manufacturing Market 2024 Industry Insights, Business Growth, Trends And Forecast To 2033
Glass Manufacturing Market
The Business Research Company offers in-depth market insights through Glass Manufacturing Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The glass manufacturing market size has grown strongly in recent years. It will grow from $171.64 billion in 2023 to $181.14 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to rise of glass recycling, cultural and decorative trends, innovations in insulation and energy efficiency, health and safety regulations, glass in electronics and displays.
The glass manufacturing market size is expected to see strong growth in the next few years. It will grow to $224.14 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to smart glass evolution, energy efficiency and green materials, urbanization and infrastructure development, electronics and displays market expansion, advancements in automotive glass. Major trends in the forecast period include consumer preferences and decor trends, rise in automotive sector, customization and design flexibility, urbanization and infrastructure growth, electronics and display industry demand.
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Market Segmentation:
The glass manufacturing market covered in this report is segmented -
1) By Product: Container Glass, Flat Glass, Fiber Glass, Other Products
2) By Application: Packaging, Construction, Transportation, Electrical And Electronics, Telecommunication, Other Applications
Major Driver - Consumer Electronics Boom And Infrastructure Investments Fueling Glass Manufacturing Market Growth
Increasing demand for consumer electronics and large-scale investments in infrastructure development is expected to propel the glass manufacturing market. The current digital revolution is causing an increase in the use of electronic devices. The country's growing middle-class population, rising disposable incomes, and falling electronics prices contribute to the market's growth. Additionally, there has been an upsurge in infrastructure activities due to the relaxation of lockdown and this elevates economic growth quality by enhancing innovation capacity and improving the industrial structure. For instance, in April 2022, a report published by India Brand Equity Foundation stated that the consumer electronics and appliances industry is expected to grow more than double to $21.18 billion by 2025, from $9.84 billion in 2021. In addition, a report by India Brand Equity Foundation, by 2022, India is expected to be the third biggest construction market. Therefore, increasing demand for consumer electronics and large-scale investments in infrastructure development is driving the glass manufacturing market.
Competitive Landscape:
Major companies operating in the glass manufacturing market report are Pilkington Group Limited, Saint Gobain, ThermoFisher Scientific, Nippon Sheet Glass, PPG Industries, Kyocera Corporation, Corning Incorporated, NSG Group, O-I Glass, Smart Glass Country, Fuyao Glass Industry Group, Schott AG, Vitro, Pella Corp., Libbey Inc., Anchor Glass Container Corporation, China Glass Holdings, Viracon, Borosil Glass Works Ltd., Sichuan Shubo Group, Cornwall Glass, Gardner Glass Products, Guardian Glass LLC, Belletech Corp, Fenton Art Glass Company, MCGRORY GLASS INC., Nathan Allan Glass Studios Inc., Pegasus Glassworks Inc., Technical Glass Products Inc., Beijing Glass Group, Wuhan Changli Glass
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Top Trend - High-Quality Glass Innovations Gain Traction In The Market
Major companies operating in the glass manufacturing market are increasing their focus on introducing innovative product, such as glass tubing, to gain a competitive edge in the market. A glass tube is a long, hollow cylinder made from different types of glass, each with its own unique properties. For instance, in October 2023, SCHOTT AG, a Germany-based glass manufacturing company, launched FIOLAX Pro glass tubing. This innovative Type I borosilicate glass, part of SCHOTT's FIOLAX Special Glass Tubes for Pharmaceutical Packaging line, is chemically resistant, arsenic-free, and clear, making it ideal for primary pharmaceutical packaging applications.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Glass Manufacturing Market Characteristics
3. Glass Manufacturing Market Trends And Strategies
4. Glass Manufacturing Market - Macro Economic Scenario
5. Glass Manufacturing Market Size And Growth
…..
27. Glass Manufacturing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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