Glass Manufacturing Market Size, Share & Trends Report

Glass Manufacturing Market Size, Share & Trends Analysis Report By Application (Construction, Transportation), By Product (Container, Flat, Fiber), By Region, And Segment Forecasts, 2020 - 2027

  • Published Date: Jun, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68038-699-8
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 132

Report Overview

The global glass manufacturing market size was valued at USD 127.1 billion in 2019 and is expected to grow at a compound annual growth rate  (CAGR) of 4.1% from 2020 to 2027. The rapid rise in demand for the product from global consumer electronics industry owing to proliferation in the production of smartphones, increasing penetration of Artificial Intelligence  (AI) in business and consumer applications, and decreasing prices of consumer electronic devices are some of the major factor likely to drive the market growth. The global manufacturing sector including electronics is expected to witness a significant decline in the first half of 2020 owing to the outbreak of COVID-19. The shutdown of key manufacturing hubs across the world and severe travel restrictions imposed by countries are the key reasons for the decline in manufacturing output. However, rebound in the economic growth from 2021, is likely to facilitate market growth in the long term.

China glass manufacturing market size

China is expected to expand at a significant CAGR from 2020 to 2027. The quicker recovery of China’s manufacturing sector from COVID-19 pandemic compared to other countries like the U.S., Germany, and France is the prominent factor likely to propel market growth in the country during the forecast period. Housing and construction sector of China which is a key end-use industry for flat glass is anticipated to bounce back as the government focus on social housing development despite some sluggish growth over the last two years. This likely to play a major role in driving the glass manufacturing industry in near future.

Besides China, Asian economies such as South Korea, Taiwan, Singapore, India, Vietnam, Myanmar, Indonesia, and Malaysia are also predicted to recover quickly from COVID-19 pandemic compared to European and North America economies. As a result, there is projected to be a lucrative scope of growth of glass manufacturing market in Asia Pacific.

Product Insights

Container glass dominated the market with a volume share of roughly 50% in 2019. Increasing demand for alcoholic beverages coupled with rapid growth of the beer industry in Asia Pacific and Eastern Europe is expected to augment segment growth over the next eight years.

Fiberglass is expected to expand at the fastest CAGR of 4.5%, in terms of revenue, from 2020 to 2027. Extensive usage of the product in automobile manufacturing owing to its lightweight and high strength properties is the main driver for the segment growth. Further increasing use of the product in building and construction sector for composite and insulation applications is likely to further propel the segment growth over next eight years.

Flat glass is expected to register significant growth from 2020 to 2027. Solar application is likely to be crucial in driving the product demand over the coming years. There is rapid increase in solar power installations across the globe owing to factors such as the depletion of non-renewable resources, advancements in solar technology, environmental concerns, and reductions in the cost of solar installations.

Application insights

Packaging dominated the market with a revenue share of roughly 45% in 2019. This high share is attributed to extensive demand for packaged consumer goods owing to rising consumer disposable income particularly in emerging economies of Asia Pacific and Middle East and Africa.

Electronics application is projected to witness the fastest CAGR of 5.0%, in terms of revenue, from 2020 to 2027. This considerable growth can be attributed to rising innovation and rapid expansion in the production of consumer electronic devices. Increasing penetration of scratch-resistant glass in tablets and smartphones is likely to provide a boost to the segment growth in the coming years.

Global glass manufacturing volume share

Construction was the second largest application of the product in 2019. Increasing private and public spending in residential construction sector in emerging economies of Asia Pacific due to burgeoning population growth and recovery of construction sector in developed economies of North America and Europe is likely to provide a lucrative platform for the segment growth over the forecast period.

Regional Insights

Asia Pacific dominated the market with a volume share of approximately 50% in 2019. According to the Asian Development Bank, economic growth in developing Asia is expected to decline sharply to 2.2% amid the COVID-19 outbreak in 2020, while rebounding sharply to more than 6% in 2021. As a result, Asia Pacific is likely to register comparatively stronger market growth in the forthcoming years.

In Asia Pacific, India is predicted to witness the fastest CAGR from 2020 to 2027. The void which is likely to be generated by disruption in global supply chain as Western economies in North America and Europe plan to shift their manufacturing bases away from China is most likely to be filled by India. Therefore, India is expected to witness significant growth over the forecast period.

North America was the third largest market in 2019 in volume terms. While packaging industry still accounts for the major share in the market, the demand for jumbo coated architectural flat glass has witnessed rapid growth since the past few years. This trend is likely to continue over the coming years after the COVID-19 pandemic and benefit the regional market growth.

Europe is mostly dominated by container glass. As compared to other products, there is relatively high demand for container glass owing to extensive demand for alcoholic beverages and beer in Europe. The Europe market is expected to witness sluggish growth in the forthcoming years as the economic recovery in the region caused by the pandemic is expected to take considerable amount of time.

Key Companies & Market Share Insights

The market is highly competitive in nature with several players in the industry focused on catering to particular product segment. For instance, Owens Illinois Inc.; Ardagh; and Vetropack dominate the container glass market while AGC Inc.; Saint Gobain; and Guardian Industries are some of the key players in flat glass industry. Top players in the industry are considering Asia Pacific as a potential growth driver owing to significant economic growth of the region. In June 2018, Şişecam Group purchased a further 49.8% stake in HNG Float Glass Limited to bolster their position in India. Some of the prominent players in the glass manufacturing market include:

  • AGC Inc.

  • Saint Gobain

  • Fuyao Group

  • Guardian Industries

  • NSG Co., Ltd

  • Owens Illinois Inc

  • Amcor

  • Nihon Yamamura

  • Vitro

  • 3B

Glass Manufacturing Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 123.3 billion

Market size volume in 2020

194,445.3 kilotons

Revenue forecast in 2027

USD 174.9 billion

Volume forecast in 2027

255,616.5 kilotons

Growth Rate

CAGR of 4.1%  (revenue-based) from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Volume in Kilotons, Revenue in USD Million,& CAGR from 2020 to 2027

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; U.K.; France; China; India; Japan; Brazil

Key companies profiled

AGC Inc.; Saint Gobain; Fuyao Group; Guardian Industries; NSG Co., Ltd; Owens Illinois Inc.; Amcor; Nihon Yamamura; Vitro; 3B

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Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global glass manufacturing market report on the basis of product, application, and region:

  • Product Outlook  (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

    • Container Glass

    • Flat Glass

    • Fiberglass

    • Others

  • Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

    • Packaging

    • Construction

    • Transportation

    • Electronics

    • Telecommunication

    • Others

  • Regional Outlook  (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

    • North America

      • The U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • The U.K.

      • France

    • Asia Pacific

      • China

      • India

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa

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