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Glass Manufacturing Market Size, Growth, Opportunities And Forecast 2033
Glass Manufacturing Market Size
Glass Manufacturing Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $224.14 billion In 2028 At A CAGR Of 5.5% :
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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Glass Manufacturing Market Major Segments
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
Key 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.
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Prominent Trend - Technological Advancements Transforming The Glass Manufacturing Landscape
Technological innovation is a key trend gaining popularity in the glass manufacturing market. Major companies operating in the glass manufacturing market are focused on providing technologically-advanced solutions to strengthen their market position. These companies are implementing next-generation glass manufacturing technologies into their manufacturing processes, such as VRT and plasma technologies, white paper, laser, Radiation-induced glass coloring, solarization, IT, AI and others. For instance, in February 2021, O-I Glass, a glass container manufacturing company, introduced a technology named MAGMA (Modular Advanced Glass Manufacturing Asset) glassmaking process, a flexible, modular, standardized glass production line that will allow for rapid mobile capacity expansion in smaller increments.
Glass Manufacturing Market Players
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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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the glass manufacturing market in 2023. The regions covered in the glass manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Glass Manufacturing Market Report Structure
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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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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