Glass Manufacturing Market to Reach USD 195.75 Billion by 2031 Driven by Rising Spending on Residential and Commercial Construction | According to SNS Insider

Austin, TX, July 12, 2024 (GLOBE NEWSWIRE) — The global glass manufacturing market is gathering momentum, largely due to the rapidly growing commercial, automotive, electronic, and packaging industries. New techniques in production and sustainable targets are changing the character of the industry through the realization of energy-efficient and recyclable glass products. Heavy investments made in advanced manufacturing technologies greatly enhanced the capacity and reduced the environmental impact associated with production. For instance, in 2023, Guardian Glass opened a high-performance float glass plant in Poland. Specialty glass demand began growing due to the automotive industry’s efforts to use lighter, more fuel-efficient vehicles. According to an IEA report, in 2024, although at present, container glass production holds the largest share, applications of recycled glass packaging have been poised to make a mark; major brands were setting targets for 100% rGD by 2030. The biggest market was always held by the Asia-Pacific region; it is now impelled by strong construction and automotive sectors in China and India.

Key drivers of the market growth could be the demand for energy-efficient buildings and advanced glass solutions for electric and hybrid passenger cars. High energy consumption and price pressure on raw materials continue to be challenging. Still, increasing efficiency and quality control through technological developments and IoT in manufacturing helps. Green building standards have buoyed up demand for high-performance glass while growing interest in smart glass is opening new avenues of growth.

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Market Players Covered in this Report:

Nippon Sheet Glass Co., Ltd, AGC Inc., Fuyao Glass Industry Group Co., Ltd., Owens Illinois Inc, Koa Glass, Amcor, Vitro, S.A.B. DE C.V., Ltd., Sisecam Group, Saint Gobain, Guardian Industries, Heinz Glass, v 3B – the fiberglass company, Nihon Yamamura., Central Glass Co. Ltd., and Others

Segment Analysis

By product type, container glass contributed the highest share of more than 43.23% in market revenues in 2023. This high market demand can be attributed to the packaging industry. Glass, being inert and impermeable, was very preferred for processing food and beverages, as it helped preserve contents for a longer period. Glass container packaging preserved the freshness of the contents by not letting the container interact with it. This prevented microbial contamination and kept food safe for consumption. Glass was reusable and 100% recyclable; it could have several recycling cycles without loss of quality, which is one more aspect of sustainability that has helped in the acceleration of glass containers’ adoption across industries. Manufacturers preferred glass as the packaging material due to the premium branding opportunity provided by it through sophisticated design work. The prestige factor too was in favor of glass products with end users. Since container glass happens to be rigid, it became apt for the packaging of carbonated beverages as the gas could leak through plastics at higher pressures. The increasing consumption of food and beverages in packaged form gave a fillip to the demand for glass containers.

Glass Manufacturing Market Report Scope & Overview:

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Regional Analysis

Asia-Pacific dominated the market for glass production and accounted for nearly 42.23% of the total revenue in 2023 due to the availability of low-priced labor. Furthermore, Asian countries, such as India, are expected to completely dominate the market growth in the forecast period because of the growing trend to shift production units to India. In 2023, China held a considerable regional market share, on account of the presence of the end-use industries scattered all over. It holds the tag of one of the largest producing hubs in the world.

North America is expected to have stable growth in the forecast period. Growing demand for smart glasses with insulation that controls the amount of temperature and light entering the vehicle is supporting the market.

SNS View on Glass Manufacturing Market

The glass manufacturing market is anticipated for significant growth driven by technological innovation and an increasing focus on sustainability. Penetration of smart and energy-efficient glass solutions is changing the game and serving specific needs from eras for various industries. A key driver belongs to the construction industry, which is witnessing a growing green building trend with a bias toward smart infrastructure. The demand for specialty glass in the automotive and electronics sectors also benefits the market. However, companies equally have to face issues relating to high production costs and volatility in raw material prices through innovation and strategic collaborations in such a way as to surmount the odds and help tap into new growth opportunities. However, with the growing wave of digitalization across manufacturing processes, particularly in terms of the use of IoT and AI for better quality control and efficiency, the prospects of this market segment are further enhanced. On the whole, the market for glass manufacturing presents a dynamic landscape with enormous opportunities for growth and innovation.

Key Takeaways:

• The construction industry will still remain the largest customer for glass products, driven by trends in green and smart buildings.
• Some of the key drivers of the market are technological developments and acceptance of energy-efficient glass solutions.
• Asia-Pacific dominates, especially China and India, because of rapid industrialization and urbanization trends in these countries.
• IoT and AI in manufacturing processes enhance production efficiency and quality control.

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