August 10, 2021
According to the research report titled ‘Glass Manufacturing Market Size By Product (Flat Glass, Container Glass, Fiber Glass, Specialty Glass), By Sector (Packaging, Automotive & Transportation, Construction, Telecommunication, Electronics), Regional Outlook, Competitive Market Share & Forecast, 2021 – 2027’, available with Market Study Report, global glass manufacturing market is expected to register considerable growth during the study period.
Increasing utilization of glass in telecommunication, electronics, automotive, construction, and food & beverage packaging applications is one of the key factors fueling global glass manufacturing market.
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As per product type, the report cites that the flat glass segment held 40% market share in 2020 and is likely to record consistent growth throughout the study duration. Flat glass has been gaining significant recognition in construction, automotive, and electronic applications. Moreover, flat glass manufacturing is known to be eco-friendly and leaves zero waste as compared to its counterparts, thereby propelling the segmental growth.
Moving on to sector type, the others segment, which predominately involves domestic products or industrial insulation, captured 5% share in global glass manufacturing industry and is expected to display similar growth trends in the ensuing years. Growing demand for tempered glass for tabletops owing to its durability is favoring the overall market scenario.
Considering the geographical terrain, North America accounted for 15% share in global glass manufacturing industry in 2020 and is reckoned to record 3.6% CAGR through 2026. This can be attributed to increasing infrastructural development and proliferating electronics sector.
Latin America, on the other hand, captured 5% market share in 2020, owing to expanding food & beverage packaging sector.
The competitive landscape of global glass manufacturing market is defined by companies such as China Glass Holdings Ltd., CSG Holding Co. Ltd., Asahi India Glass Ltd., Guardian Glass LLC, Morgan Advanced Materials, Nippon Electric Glass Co. Ltd., CoorsTek Inc., Vetropack Holding AG, Schott AG, Kyocera Corporation, Nippon Sheet Glass Co. Ltd., Vitro, S.A.B. de C.V., Corning Incorporated, AGC Inc., and Saint-Gobain S.A. among others.