According to the research report titled ‘Global Glass Manufacturing Market Size study, by Product (Container Glass, Flat Glass, Fiber Glass, Others), By Application (Packaging, Construction, Transportation, Electrical and Electronics, Telecommunication, Others), and Regional Forecasts 2021-2027’, available with MarketStudyReport, global glass manufacturing market size accounted for USD 120.3 billion in 2020 and is likely to record 3.7% CAGR through 2027, thereby reaching USD 155.1 billion by the year 2027.
 

Widespread adoption of recycled products, favorable government initiatives to reduce the use of environmentally hazardous materials, and growing demand for sustainable products are some of the key factors driving the growth of global glass manufacturing market.
 

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It is worth noting that glass manufacturing involves flat glass, container glass, and fiber glass which are predominately used on transportation, construction, and packaging applications. As per the UN Environment Programme, growing material efficiency and utilization of electric applications is known to be a major threat to the environment.
 

Thus, federal regulations that promote the use of sustainable products and growing demand for eco-friendly goods have augmented the demand for glass manufacturing, which in turn is stimulating the overall industry outlook.
 

Despite the positive growth trajectory, easy availability of glass alternatives could potentially act as a restraining factor to the growth of global glass manufacturing industry.
 

From the regional point view, the market is segmented into North America, Latin America, Europe, Asia-Pacific, and the rest of the world. Among these, Asia-Pacific is expected to generate significant returns for the industry participants in the ensuing years, owing to availability of low cost labor and rising cognizance regarding the use of recycled products.
 

North America, meanwhile, is also predicted to account for a prominent market share by the year 2027, primarily driven by strict regulations regarding plastic usage and growing demand for smart glasses.
 

The prominent companies operating in 3B-the fibreglass Company, Compagnie de Saint-Gobain S.A., Heinz Glass GmbH & Co. KGaA, Koa Glass Co. Ltd., O-I Glass Inc., Nippon Sheet Glass Co. Ltd., Guardian Industries, Fuyao Glass Industry Group Co. Ltd., Central Glass Co. Ltd., and AGC Inc. among others.