Glass Manufacturing Market Size, Share & Trends Analysis Report By Product (Container Glass, Flat Glass, Fiber Glass), By Application (Packaging, Construction, Transportation), By Region, And Segment Forecasts, 2021 - 2028

Report Overview

The global glass manufacturing market size was valued at USD 120.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.7% from 2021 to 2028. Increasing deployment of the products in several applications including packaging, construction, and electronics, is anticipated to boost market growth over the forecast period. The packaging industry is moving towards a sustainable product approach wherein usage of paper-based and glass-based packaging solutions is gaining prominence across developed countries. The evolution in consumer demand is projected to remain an in-direct source of the driver for market growth over the predicted timeline.

China has prominence in glass manufacturing. Growing population and rising industrial growth have led to the increment of market growth in the region. The construction and housing sector is the major consumer of flat glass in the country. The government’s focus on social housing development is projected to positively impact product growth over the near future.

Besides China, other Asian economies such as India, Japan, and South Korea are investing heavily in new product manufacturing units. For instance, Gold Plus Glass Industry Co Ltd, a New Delhi-based glass manufacturer is planning to invest approximately USD 337 million in setting up a new manufacturing plant in Mangaluru. This step will lead to the employment of approximately 500 personnel.

The growth of the electronics industry is another growth driver for the market. Increasing production of smartphones and decreasing prices of consumer electronic devices are the factors propelling the market for glass manufacturing. The glass products are used for the fabrication of display panels of electronic devices such as mobiles, televisions, computers, and digital watches.

The glass industry is growing continuously owing to the shifting trend toward not using plastic containers in day-to-day life. Rising concern toward environmental pollution caused by plastic owing to its low recyclability rate is pushing consumers’ paradigm towards sustainable and recyclable products.

Product Insights

The container glass segment held the largest revenue share of more than 44.0% in 2020. The large share is attributed to the growing pharmaceutical and food and beverage industry. The growing preference for the product segment for packaging purposes is anticipated to propel market growth over the coming years.

Flat glass holds the second-largest revenue share owing to its deployment in various construction applications such as in windows, doors, and partition panels. Growing preference toward the aesthetically appealing interior and rising disposable income are the factors driving the growth of the segment.

Fiber glass is extensively used in transportation applications owing to the increasing demand for lightweight materials in making vehicles. They are used in boats, roofing, aircraft, and others due to their distinct features like bendability, stability, and lightweight.

Application Insights

The packaging segment dominated the market for glass manufacturing and held the largest revenue share of little less than 45.0% in 2020. Most of the beverages require bottle packaging owing to distinct properties of glass such as its non-reactive nature and recyclability. Most of the economies across the globe have planned and are planning to ban the usage of plastic which directly fuels the growth of alternative products.

The construction segment held a significant revenue share in 2020. The flat glass is consumed in the making of residential and non-residential buildings. The rising construction developments in developing economies are expected to fuel the demand for the product over the forecast period.

The product demand in the electrical & electronics segment is dominated by the use of glass in designing the display screens of electronic devices as the rising penetration of internet usage across the globe is changing consumer preferences and hence increasing the sale of electronic devices which in turn is impacting the market growth on a positive note.

Regional Insights

Asia Pacific dominated the market for glass manufacturing and accounted for nearly 40.0% share of the global revenue in 2020. The region is characterized by the presence of skilled labor at low cost, which makes it the most lucrative region for manufacturers to set up production facilities. Moreover, the shifting trend toward setting up manufacturing units in Asian countries such as India is expected to positively influence the market growth over the forecast period.

China accounted for a key share in the regional market in 2020, considering the widespread presence of the end-use industries in the country. It is one of the largest manufacturing hubs in the world. Moreover, China spends a large amount on electronics and most of the smartphone giants have their manufacturing base in the country.

North America is anticipated to witness steady growth across the forecast period. Emphasis on limiting the usage of plastic and the incorporation of sustainable solutions is anticipated to augment product demand in the region. Moreover, increasing demand for smart glasses having insulation that can control the temperature and light entering the vehicle is driving the market for glass manufacturing.

Key Companies & Market Share Insights

The glass manufacturing market is an exceptionally competitive industry owing to the presence of key players across the globe. The growing pharmaceutical and medical devices industry owing to the COVID-19 pandemic has given opportunities for the glass manufacturing companies, particularly the players engaged in providing packaging solutions to the big pharmaceutical giants.

The key players are focusing upon expanding their existing manufacturing facilities owing to the growing demand for products from different verticals. For instance, Borosil Renewables has planned to invest USD 5,000 million for doubling its capabilities to 900 tons per day, the new plant will be set up by July 2022 and will be powered by 5GW of solar power plants. Some of the prominent players in the glass manufacturing market include:

• AGC Inc.

• Central Glass Co. Ltd.

• Fuyao Glass Industry Group Co., Ltd.

• Guardian Industries

• Nippon Sheet Glass Co., Ltd

• Owens Illinois Inc

• Koa Glass

• Heinz Glass

• Saint Gobain

• 3B - the fiberglass company

• Amcor

• Nihon Yamamura

• Vitro, S.A.B. DE C.V.

• Xinyi Glass Holdings Co., Ltd.

• Sisecam Group

Glass Manufacturing Market Report Scope

Segments Covered in the Report

This report forecasts revenue and volume growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. 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, 2017 - 2028)

  • Container Glass

  • Flat Glass

  • Fiber Glass

  • Others

• Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

  • Packaging

  • Construction

  • Transportation

  • Electrical & Electronics

  • Telecommunication

  • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

  • North America

    • U.S.

    • Canada

    • Mexico

  •  Europe

    • Germany

    • U.K.

    • France

    • Italy

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

  • Central & South America

    • Brazil

  • Middle East & Africa