by The global glass manufacturing market provides a sustainable solution for various industries through its end-use products. Glass has applications across packaging, automotive, construction, electronics, and healthcare sectors due to properties like transparency, durability, robustness, and thermal insulation.
The glass manufacturing market is estimated to be valued at US$ 175.04 Bn in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period from 2024 to 2031.
Glass finds usage in a variety of applications ranging from windows and doors in construction to glass packaging for food and beverages. It provides optical transparency and strength to allow visibility while maintaining shape and structure. Glass remains 100% recyclable and retains its properties on repeated recycling cycles. The increasing focus on reducing carbon footprint and attaining sustainability goals has encouraged glass recycling trends worldwide boosting for cullet or recycled glass in the Glass Manufacturing Market Demand process.
Key Takeaways
Key players operating in the glass manufacturing market include AGC Inc., Fuyao Glass Industry Group Co. Ltd., Guardian Industries, American Insulated Glass, Saint-Gobain, O-I Glass Inc., AGI glaspac, Nihon Yamaura Glass Co., Ltd., Vitro, 3B- the fiberglass company, Gardner Glass Products Inc., Woodland Windows & Doors, Chicagotemperedglass.com, Manko Window Systems, Insulite Glass CO., Lawrence Glass and Mirror, JIT Companies, Northwestern Glass Fab, Viracon and St. Cloud Window. These players are focused on expanding production capacity and global footprint to tap the growth opportunities.
The construction and automotive industries have been exhibiting increased glass consumption globally. The growing infrastructural developments and building construction activities in Asia Pacific and Middle East are fueling glass demand. Meanwhile, rising vehicle production and sales will augment glass usage in automotive sunroofs, windshields, and windows over the forecast period.
Glass manufacturers are expanding their operations across international markets through strategic collaborations, mergers, and acquisitions. Regions like Asia Pacific, Latin America, and Middle East are witnessing new plant set-ups and capacity expansions to cater to the rising local demand. Advanced manufacturing technologies are also being adopted to improve efficiency, quality, and sustainability of glass production processes.
Market key trends
Glass Manufacturing Market Size and Trends recycling is gaining traction driven by rising environmental awareness. Cullet or recycled glass comprises around 30% of the raw material usage for new glass production. It reduces carbon emissions and lowers production costs. Glass manufacturers are partnering with recycling companies for sustained cullet supply. Advanced technologies allow detecting impurities and defects in cullet during manufacturing. The trend underscores glass circular economy and sustainable development goals.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the capital requirements for establishing a glass manufacturing plant is high. However, with advancements in technology the barrier is reducing.
Bargaining power of buyers: The bargaining power of buyers is moderate to high as glass is a commodity product and buyers have many supplier options to choose from.
Bargaining power of suppliers: The bargaining power of suppliers is low to moderate as raw materials required for glass production such as soda ash, sand are abundantly and widely available.
Threat of new substitutes: The threat of substitutes is low as glass has no close substitutes for applications like windows, automotive, containers etc. however plastic and polycarbon can substitute glass in some applications.
Competitive rivalry: The competition in the glass manufacturing industry is high as the industry players compete on the basis of innovation, quality, pricing and customer service.
Geographical regions: Currently, Asia Pacific accounts for around 45% of the global glass manufacturing market in terms of value owing to strong presence of end-use industries like construction and automotive in China, India.
The fastest growing region for glass manufacturing market is expected to be Asia Pacific between 2024-2031 growing at a CAGR of over 6%. This can be attributed to increasing construction and infrastructure development activities and growing automotive production in China and India. Rising living standards and purchasing power is further expected to drive the demand.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
