Press release
Glass And Glass Products Market 2024-2033: Size, Share & Competitive Landscape Analysis
The glass and glass products market size is expected to see strong growth in the next few years. It will grow to $283.73 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to green building initiatives, smart glass technologies, electric and autonomous vehicles, increased focus on safety, advancements in display technologies.. Major trends in the forecast period include growing preference for recycled glass, digital transformation in glass manufacturing, expanding use of glass in electronics, safety and security considerations, global urbanization trends..
Market Overview -
Glass and glass products refer to inorganic solid substances that are normally transparent or translucent, as well as rigid, brittle, and impenetrable to natural elements. They are manufactured by rapidly cooling liquid materials such as silica sand to avoid apparent crystal formation.
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Solar Energy Surge Ignites Growth In Glass And Glass Products Market
Demand for solar energy is expected to propel the growth of the glass and glass products market going forward. Solar energy is the conversion of sunlight into thermal or electrical energy. It uses energy to generate electricity, provide light or a warm indoor atmosphere, and heat water for household, commercial, or industrial purposes. Glass is used in solar panels because it can transfer sunlight without absorbing it, it works as a mirror with a reflecting coating on one or both sides that helps concentrate sunlight, and most solar panel glasses are tempered to endure harsh weather conditions. For instance, in September 2022, according to a report published by the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, solar PV power output grew by 179 terawatt hours (TWh) in 2021, reaching 1,000 TWh, representing a 22% increase over 2020. Moreover, it is predicted to attain an annual solar PV generation level of around 7,400 terawatt hours by 2030. Therefore, the demand for solar energy is driving the growth of the glass and glass products market.
Competitive Landscape -
Major companies operating in the glass and glass products market report are Guardian Industries Corp., Central Glass Co. Ltd., Nippon Sheet Glass Co. Ltd., Schott AG, China Glass Holdings Ltd., Compagnie de Saint-Gobain SA, Asahi Glass Company, Corning Incorporated, Vitro S.A.B. de C.V., Kyocera Corporation, CoorsTek Inc., Morgan Advanced Materials plc, Asahi India Glass Limited, Cardinal Glass Industries Inc., Dillmeier Glass Co., Cornwall Glass Ltd., McGrory Glass Inc., Owens-Illinois Inc., Fuyao Glass Industry Group, Pilkington Group Limited, Viracon Inc., Oldcastle Glass Inc., AGC Inc., Euroglas GmbH, Sisecam Group, PPG Flat Glass Inc., Saint-Gobain Glass Inc., Trulite Glass & Aluminum Solutions LLC, Gentex Corporation .
Innovative Advancements Propel The Glass And Glass Products Market
Product innovation is a key trend gaining popularity in the glass and glass products market. Major companies operating in the glass and glass products market are focused on developing innovative solutions to strengthen their position in the market. For instance, in September 2021, Vitro Architectural Glass (Vitro, S.A.B. de C.V.), a US-based glass manufacturer, introduced VacuMax Vacuum Insulating Glass (VIG), which can be readily integrated into traditional and advanced glazing systems to give high R-values and insulating performance. The new device includes an 8.3mm tempered VIG unit, which is made up of two completely tempered glass lites separated by a non-leaded metal seal and a vacuum void. Its thin design and light weight enable it to be integrated into practically any traditional glazing system or window frame. This product is unique as it may improve the performance of any insulating glass unit by dramatically enhancing thermal efficiency, offering insulation performance that is two to four times greater than ordinary insulating glass and six to ten times better than standard monolithic glass.
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Key Segments -
The glass and glass products market covered in this report is segmented -
1) By Product Type: Tempered Glass, Laminated Glass, Basic Float Glass, Insulating Glass
2) By Distribution Channel: B2B (Business-To-Business), Specialized Stores, Supermarkets Or Hypermarkets, E-Commerce, Other Channels
3) By Application: Packaging, Construction, Transportation, Electrical And Electronics, Telecommunication, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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