Glass Market Size was valued at USD 268.1 billion in 2022. The Glass industry is projected to grow from USD 281.77 billion in 2023 to USD 419.48 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.10% during the forecast period (2023 - 2032). Increasing expenditure on residential and commercial construction and the expanding use of recyclable materials in the packaging industry are the key market drivers boosting the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
A few of the key factors driving the market CAGR include expansion include an increase in smartphone production, a decline in the cost of consumer electronics, and an increase in the demand for consumer electronics products due to the increasing use of artificial intelligence (AI) in both consumer and business applications. In addition, a substantial rise in infrastructure development and construction activities is anticipated to drive the demand for spectacles in the coming years. In addition, a growing concern among governments in various regions to avoid the use of non-biodegradable materials in packaging and other applications has increased the demand for Glass as an alternative material. Glass is favored over non-biodegradable and wood products due to environmental protection concerns and the desire to slow the rate of natural resource depletion.
In addition, companies in the food and beverage industry are increasing production to meet the rising demand for packaged foods. This is anticipated to boost market growth in the United States over the forecast period. In July 2022, PepsiCo. Acquired 152 acres of land in Denver, Colorado, to construct a 1.2 million square foot production facility. By 2023, the plant is anticipated to be operational. In addition, energy-saving strategies such as preheating new quantities with furnace waste heat and higher temperature refractories are establishing a new trend in the glass market. Increasing global awareness of global warming and government initiatives encouraging renewable energy sources have led to adopting energy-efficient manufacturing processes for glass production. Thus, such factors are driving the Glass market revenue.
Based on type, the Glass Market segmentation includes container glass, flat glass, fiber glass, and others. The container glass segment dominated the market, accounting for 30-35% of market revenue. The substantial proportion is attributable to the product's increasing demand in packaging applications. Moreover, the expansion of the construction industry stimulates the production of goods.
Figure 1: Glass Market, by Type, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Based on application, the Glass Market segmentation includes packaging, construction, transportation, electrical & electronics, telecommunication, and others. The packaging category generated the most income. Glass is a more cost-effective and environmentally favorable packaging alternative than plastic. Aside from this, there is a substantial demand for glass materials for packaged consumer products due to rising disposable incomes among consumers, particularly in developing economies.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American glass market area will dominate this market, owing to rising investments in the construction, food & beverage, and pharmaceutical industries. In recent years, the demand for jumbo-coated architectural flat Glass has increased, despite the packaging industry's high demand.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: GLASS MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe’s Glass market accounts for the second-largest market share. Demand for Glass in solar power applications is increasing in the energy sector. Europe's market will be bolstered by increasing infrastructure construction, government incentives, and assistance instituting high-energy efficiency solutions. Further, the German Glass market held the largest market share, and the UK Glass market was the fastest-growing market in the European region
The Asia-Pacific Glass Market is expected to grow at the fastest CAGR from 2023 to 2032. Increasing demand from end-use industries encourages producers to increase output. In addition, China is the world's largest producer of flat Glass and holds a substantial market share in the region. Numerous Chinese manufacturers have adapted to produce goods that meet Western production and environmental standards. Moreover, China’s Glass market held the largest market share, and the Indian Glass market was the fastest-growing market in the Asia-Pacific region.
Increasing product demand has resulted in intense competition. Regarding manufacturing procedures and product development, market participants emphasize competitive differentiation. Major players in the glass manufacturing market are intent on bolstering their market position with technologically advanced solutions. Moreover, market development strategies, including new product launches, mergers and acquisitions, and collaboration with other organizations, are key strategies adopted by players. The Glass industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Technology innovation is an important trend gaining popularity in the global Glass industry. These companies integrate next-generation glass manufacturing technologies, such as VRT and plasma technologies, laser, radiation-induced glass coloring, solarization, IT, and artificial intelligence, into their manufacturing processes. Major Glass market players include AGC Inc., Fuyao Glass Industry Group Co. Ltd., Guardian Industries, Saint-Gobain, O-I Glass Inc., AGI glaspac, Nihon Yamaura Glass Co., Ltd., Vitro, and 3B- the fiberglass company.
Asahi Glass Co Ltd, AGC Inc (AGC) provides Glass, electronic components, chemicals, and ceramics. The company offers flat float Glass, Automotive Glass, Decorative Glass, heat-insulating and shielding Glass, Architectural Glass, disaster-resistant and security Glass, and polished wired Glass. It also provides LCD glass substrates, cover glass for vehicle-mounted displays, specialty glass for display applications, Glass for solar power systems, Glass for industrial use, and optoelectronic and lighting glass products. AGC offers polyvinyl chloride, caustic soda, vinyl chloride monomer, fluorinated polymers, and water- and oil-repellents. Attoch, Coolverre, Wonderlite, Lacobel, XCV, Amorea, Aflas, Glascene, Preminol, inferred, and Thermotect is the brand names under which the company markets its products. The company operates in Asia, the Middle East, the Americas, Africa, and Europe. The headquarters of AGC is in Chiyoda-Ku, Tokyo, Japan.
Guardian Industries produces float Glass, glass fabrications, and plastic coatings for the automotive and commercial vehicle industries. Guardian Glass Company was founded in 1932 in Detroit, Michigan as a modest windshield fabricator. Forbes identifies Guardian Industries as one of the world's largest public companies, with over 14,000 employees.
September 2021Â Gerresheimer announced that its Lohr, France facility would employ hybrid technology for glass processing. The company intends to significantly reduce CO2 emissions from producing glass tubes and containers with this technology.
February 2021Â O-I Glass, a manufacturer of glass containers, introduced the MAGMA (Modular Advanced Glass Manufacturing Asset) glassmaking process. This flexible, modular, standardized glass production line enables rapid mobile capacity expansion in smaller increments.
September 2022Â AGC Glass Europe S.A., a wholly-owned subsidiary of AGC, a world-leading manufacturer of Glass, chemicals, and high-tech materials, announced that it would produce float glass with a significantly reduced carbon footprint of less than 7 kg of CO2 per square meter for clear Glass (4 mm thickness) by the end of 2022.
North America
Europe
Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 268.1 billion |
| Market Size 2023 | USD 281.77 billion |
| Market Size 2032 | USD 419.48 billion |
| Compound Annual Growth Rate (CAGR) | 5.10% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Â Fuyao Glass Industry Group Co. Ltd., Guardian Industries, Saint-Gobain, O-I Glass Inc., AGI glaspac, Nihon Yamaura Glass Co., Ltd., Vitro, and 3B- the fiberglass company |
| Key Market Opportunities | Growing adoption of new technologies |
| Key Market Dynamics | Growing applications Rising demand in the construction sector |
Glass Market Highlights:
Frequently Asked Questions (FAQ) :
The Glass Market size was valued at USD 268.1 Billion in 2022.
The global market is projected to grow at a CAGR of 5.10% during the forecast period, 2023-2032.
North America had the largest share of the global market
The key players in the market are Fuyao Glass Industry Group Co. Ltd., Guardian Industries, Saint-Gobain, O-I Glass Inc., AGI glaspac, Nihon Yamaura Glass Co., Ltd., Vitro, and 3B- the fiberglass company.
The container glass Glass category dominated the market in 2022.
The packaging channel had the largest share of the global market.
Senior Research Analyst I have a bachelor's degree in mechanical engineering and an mba. i have more than two years of expertise in the retail, food, and beverage, chemical, and material industries, and hence have developed a sound cross-domain expertise. a firm believer in lifelong learning and sharing of knowledge. having a proclivity for hatching ideas and trying to absorb as much information as possible in a short amount of time. introducing corporates to the data and insight, which enables them to move from probability to possibility, has been my key areas of interest.Â
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
