The Glass Manufacturing Market Projected to Surpass $329.4 Billion by 2027, Says Global Market Insights Inc.
Growing demand for glass manufacturing in the packaging and electronics industries will boost the market during the forecast period, says this report.
SELBYVILLE, Del., May 24, 2021 (Newswire.com) - Based on Global Market Insights Inc., report, the global Glass Manufacturing Market was estimated at $228.7 billion in 2020 and is slated to exceed $329.4 billion by 2027, registering a CAGR of 4.1% from 2021 to 2027. The report provides a thorough analysis of the main investment avenues, major winning strategies, drivers and opportunities, wavering industry trends, market estimations as well as size, competitive scenarios.
Container glass is analyzed to be a growth propellant for the glass manufacturing industry and is set to present a potential growth outlook in the future. The food sector also represents a substantial share primarily owing to large-scale processed food production and consumption. A rise in the number of breweries is also analyzed to be a contributing factor driving the container glass industry across the globe.
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The global glass manufacturing market is prone to various technological innovations. Major players are constantly trying to bring out technological innovations to reduce their production costs and also to attain a larger market share. One such technology advancing the glass manufacturing sector is 3D printing. Though in its nascent stage, 3D printed glass holds potential for applications from decorative wearables to advanced and intricate inserts in the electronics and aerospace industries. One of the main goals to introduce 3D printing in glass manufacturing is to reduce wastage and energy consumption. Although many processes and methods are being tested to achieve mass production, stereolithography holds a promising outlook for further development.
Among the product segment, flat glass shall record close to 45% demand share in 2027. Massive flat glass demand from the construction as well the automotive sector will positively influence the glass manufacturing market share. Moreover, increasing glass usage in LEED certified green buildings will complement growth.
Among the various end-user industries, packaging and automotive are one of the most revenue-generating segments in 2020 closely followed by the construction industry. The global construction sector has been exhibiting growth over the past years and shall continue this trend during the forecast timeframe.
Increasing urbanization in developing countries, such as China and India, coupled with increasing housing & renovation expenses in developed regions has enabled the glass manufacturing market to thrive substantially. the flat glass product segment represents a maximum share in the construction end-user industry. Increasing demand for modern aesthetics in the commercial and housing sectors has driven demand for tinted and reflective glass substantially
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Asia Pacific will hold the largest share of over 40% in 2027 and will grow at a CAGR of over 3.7% during the forecast timeline. Asia is home to one of the largest markets for consumer goods production and sales. Investments from domestic and foreign companies have also rapidly transformed the regional glass industry. A high concentration of rapidly developing Asia Pacific nations is anticipated to drive the glass manufacturing market growth.
Key manufacturers operating in the glass manufacturing industry include China Glass Holdings, Guardian Glass LLC, NSG Group, Corning Incorporated, Kyocera Corporation, CoorsTek Group, Schott A.G, Morgan Advanced Materials, AIS Glass, and Central Glass Ltd.
Related Reports:
Flat Glass Market - Business Strategies and Revenue Impact Analysis, 2026
Smart Glass Market - Future Business Strategies and Revenue Impact Analysis, 2026
About Global Market Insights Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision makers.
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Source: Global Market Insights Inc.
