May 21, 2020
As per the report titled ‘Glass Manufacturing Market Size By Product , By Sector, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2026’, available with Market Study Report LLC, global glass manufacturing market is expected to see remunerative growth through 2026.
Surge in construction activities across the globe, along with rapid growth of packaging and automotive industry are among the major growth drivers of global glass manufacturing market.
Favorable properties such as stiffness and fragility, chemical resistance, transparency, and zero electrical & thermal conductivity have amplified product usage across various industries. Glass is utilized for different purposes including automotive windscreens, medical equipment, radiation protection, tableware like bowls and plates, bottles, doors, windows, and mirrors, which is positively influencing the industry growth.
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Glass manufacturing involves five stages, from selection of raw material based on type of glass to be manufactured, addition of decolorizers and cullet, creating a mixture and its melting, giving shape and form to melted mixture, to finally annealing the glass article.
Based on the product terrain, flat glass segment accrued over 40% demand share in 2018 and is poised to see decent gains over the forecast period. The growth can be attributed to indispensable use of flat glass in automotive, construction, and electronic industry.
Elaborating on the sector, glass manufacturing market is split into packaging, electronics, construction, automotive & transportation, telecommunication, and others. Others segment held 5% market share in 2018 and is expected to show modest growth in the forthcoming years. Increasing demand of glass for application in acoustic insulators, appliance insulation, and domestic products such as kitchen wares & tables is supporting the segment growth.
Considering the geographical landscape, North America accounted for 15% of glass manufacturing market share in 2018 and is projected to expand at 4.1% CAGR through 2026, primarily driven by growth of electronics and construction sector in the region.
Whereas, Latin America glass manufacturing market held over 5% share in 2018 and is expected to gain decent traction in the coming years, owing to proliferating demand from the established food & beverage packaging industry.
Key players operating in global glass manufacturing market are AGC Inc., Saint-Gobain S.A., Corning Incorporated, Nippon Sheet Glass Co., Ltd., Vitro SAB de C.V., Kyocera Corporation, Vetropack Holding AG, Schott AG, CoorsTek Inc., Morgan Advanced Materials, Nippon Electric Glass Co., Ltd., Guardian Glass LLC, CSG Holding Co., Ltd., AIS Glass, and China Glass Holdings Ltd.