Press release
Glass Manufacturing Market Anticipated To Witness Robust Growth, Surpassing $238.3 Billion By 2029
Glass Manufacturing Market Size
What Is the Glass Manufacturing Market Size and Projected Growth Rate?
The market size of glass manufacturing has witnessed substantial growth in the past few years. The market is projected to grow from $178.58 billion in 2024 to $187.58 billion in 2025, with a compound annual growth rate (CAGR) of 5.0%. The growth during the historical period is largely due to the increase in glass recycling, evolving cultural and decorative trends, advancements in insulation and energy efficiency, health and safety regulations, and the use of glass in electronics and displays.
The market size for glass manufacturing is anticipated to experience robust expansion in the forthcoming years. It is projected to reach $238.3 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.2%. The predicted growth in this period can be linked to the development of smart glass, energy-efficient and environmentally friendly materials, urban and infrastructure development, and the growth of the electronics and displays market, as well as advancements in automotive glass. Key trends for this forecasted period involve shifts in consumer preferences and decor trends, the growth of the automotive sector, the ability to customize and design flexibly, expansion of urban areas and infrastructure, and the rising demand in the electronics and display industry.
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What Are the Major Segments in the Glass Manufacturing Market?
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
Subsegments:
1) By Container Glass: Bottles, Jars, Other Packaging Glass
2) By Flat Glass: Architectural Glass, Automotive Glass, Solar Glass
3) By Fiber Glass: Glass Fiber Reinforcement, Insulation Products
4) By Other Products: Specialty Glass, Glass Ceramics
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What Are The Driving Glass Manufacturing Market Evolution?
The rise in demand for consumer electronics and hefty investments in constructing infrastructure are anticipated to bolster the growth of the glass manufacturing industry. The ongoing digital revolution is reflecting in the surge of electronic gadgets' usage. Factors such as a burgeoning middle class, increasing disposable income, and reducing costs of electronics are all aiding this market's expansion. Moreover, due to the lifting of lockdown restrictions, the spike in infrastructure activities is improving the quality of economic growth. It does this by fostering innovative capacity and optimizing the industrial structure. As an example, a report from the India Brand Equity Foundation published in April 2022 predicted that the consumer electronics and appliances sector would more than double, reaching $21.18 billion by 2025 from $9.84 billion in 2021. The same source also projected that India will emerge as the third-largest construction market by 2022. Thus, the escalating demand for consumer electronics coupled with extensive investments in infrastructure development are the key drivers fueling the glass manufacturing industry's growth.
Which Firms Dominate The Glass Manufacturing Market Segments?
Major companies operating in the glass manufacturing market include Pilkington Group Limited, Saint Gobain, ThermoFisher Scientific, Nippon Sheet Glass, PPG Industries, Corning Incorporated, 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, 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
What Trends Are Expected to Dominate the Glass Manufacturing Market in the Next 5 Years?
Prominent businesses in the glass manufacturing market are concentrating on the creation of glass tubing to boost product safety and dependability in pharmaceutical uses. Glass tubing, a hollow cylindrical piece of glass, can serve a variety of purposes, ranging from medicine to science and industry, often acting as vessels or passageways for liquids and gases. For instance, SCHOTT, a manufacturing firm based in Germany, debuted its FIOLAX® Pro glass tubing in October 2023. The tubing offers increased chemical resistance and improved mechanical characteristics, making it ideal for vital operations involving drug storage and handling. The goal of this innovation is to satisfy the rigorous demands of the pharmaceutical sector, ensuring that the glass can endure different sterilization procedures and preserve the integrity of the contents. This focus on high-quality glass tubing stems from the requirement for safe packaging options that safeguard delicate medications and guarantee their integrity within the supply chain.
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Which Is The Largest Region In The Glass Manufacturing Market?
Asia-Pacific was the largest region in the glass manufacturing market in 2024. The regions covered in the glass manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Glass Manufacturing Market?
2. What is the CAGR expected in the Glass Manufacturing Market?
3. What Are the Key Innovations Transforming the Glass Manufacturing Industry?
4. Which Region Is Leading the Glass Manufacturing Market?
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