Glass Manufacturing Market Size, Share, Growth | Forecast 2027: Acumen Research and Consulting
The global glass manufacturing market is anticipated to grow at a CAGR of around 4.0% during the forecast period 2020 to 2027 and to reach around US$ 333 Bn by 2027
LOS ANGELES, June 8, 2020 /PRNewswire/ -- Recently Published Report on "Glass Manufacturing Market Size, Share, Growth, Trends, Production and Forecast 2020 to 2027".
The market in North America is expected to account for significant revenue share in the global glass manufacturing market due to rising demand from construction sector. Construction sector is witnessing rapid change in this region. With the high spending of the government on infrastructure development and rising construction and reconstruction activities is resulting in demand for glass with high toughness and lamination.
Flourishing construction sector across the global, increasing construction and reconstruction activities, and developing architectural framework is resulting in demand for glasses with high strength, durability, and improved efficiency are major factors expected to drive the growth of global glass manufacturing market.
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In addition, presence of major players operating in the country, coupled with business development activities through strategic merger and acquisitions is expected to further impact the growth of target market in this region. Players are focused on enhancing the customer base in order to increase the profit ration.
- In 2020, Saint-Gobain acquired the Continental Building Products company; this acquisition will help the company to enhance the customer base in the US market and increase the product portfolio.
Moreover, high investment by the players for R&D activities along with innovative product offerings is expected to further support the growth of target market in this region.
- In 2019 Vitro Architectural Glass introduced Acuity low-iron glass that enables architects to achieve clearer, more transparent vision glass and truer spandrel colors by eliminating the green cast inherent to regular clear glass.
The market in Asia Pacific is expected to witness faster growth over the forecast period, due to high passenger vehicles sale. Automotive sector is witnessing rapid change in developing countries, with the rising passenger vehicles sale demand for laminated glass for windshield, side window, and rear shield is increasing.
Flourishing electronic sector in the region, presence of major consumer goods manufacturers operating in the country such as China, Japan, India, etc. is resulting in demand for glass for semiconductor IC packaging, electronic & optical sensors, energy storage devices etc. is another factor expected to support the growth of target market.
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In addition, major players approach towards emerging economies in order to track the untapped market is expected to further support the growth of target market in this region.
Rapid industrialization across the global, developing architectural framework is impacting the construction sector which is further resulting in increasing use of glass in commercial building and private properties due to its benefits such as better transparency, strength, recyclability, etc. which are major factors expected to drive the growth of the global glass manufacturing market. Contractors are focused on lowering the electricity usage and increase the operational efficiency by using the glass at the facades and roofs that allows the maximum use of natural daylight.
Major players are focused on introducing innovative affordable products for commercial and residential purpose that are energy efficient is another factor expected to impact the growth of target market.
- In 2019 Vitro Architectural Glass introduced Acuity glass that is formulated to enhance the energy performance of commercial buildings. When paired in a standard one-inch insulating glass unit with Solarban 60, Solarban 67, Solarban 72, Solarban 90 or Solarban R100 glasses, Acuity glass can achieve visible light transmittance (VLT) of up to 73 percent and solar heat gain coefficients (SHGCs) ranging from 0.23 to 0.41.
However, factors such as high manufacturing cost and threat of other alternatives are expected to hamper the growth of global glass manufacturing market. In addition, fluctuating raw material prices is expected to impact the cost of end products further challenging the growth of global market.
Rapid technological advancements by the major players and innovative cost-effective product offerings are factors expected to create new opportunities for players operating in the target market over the forecast period.
The global glass manufacturing market is segmented in to product and end use. The product segment is bifurcated into flat glass, container glass, fiber glass, and specialty glass. Among end use the construction sector is expected to account for significant revenue share in the global market.
Players operating in the global glass manufacturing market are AGC Inc., Vitro, Vetropack Holding AG, Nippon Electric Glass Co., Ltd., Central Glass Ltd., Corning Incorporated, NSG Group, Schott A.G, Coorstek Group, Morgan Advanced Materials, Guardian Glass LLC, AIS Glass, Saint-Gobain S.A., China Glass Holdings, and Kyocera Corporation.
Market Segmentation
Market By Product Type
- Flat glass
- Container glass
- Fiber glass
- Specialty glass
Market By End Use
- Packaging
- Automotive & transportation
- Construction
- Telecommunication
- Electronics
- Others
Market By Region
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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