Glass Manufacturing Market Size, Share and Trends 2024 to 2034

The global glass manufacturing market size was USD 189.18 billion in 2023, calculated at USD 200.15 billion in 2024 and is projected to surpass around USD 351.74 billion by 2034, expanding at a CAGR of 5.8% from 2024 to 2034.

  • Last Updated : September 2024
  • Report Code : 1125
  • Category : Chemical and Material

Glass Manufacturing Market Size and Forecast 2024 to 2034

The global glass manufacturing market size accounted for USD 200.15 billion in 2024 and is expected to be worth around USD 351.74 billion by 2034, at a CAGR of 5.8% from 2024 to 2034.

Glass Manufacturing Market Size 2024 to 2034

Glass Manufacturing Market Key Takeaways

  • Asia Pacific led the global market with the highest market share of 40% in 2023.
  • By Product, the container glass segment has held the largest market share of 50% in 2023.
  • By Application, the automatic segment registered a maximum market share of 45% in 2023.

Asia Pacific Glass Manufacturing Market Size and Growth 2024 to 2034

The Asia Pacific glass manufacturing market size was estimated at USD 75.67 billion in 2023 and is predicted to be worth around USD 140.70 billion by 2034, at a CAGR of 6% from 2024 to 2034.

Asia Pacific Glass Manufacturing Market Size 2024 to 2034

The Asia Pacific encountered as the largest market for the glass manufacturing accounting for approximately half of the volume share in 2023. This is attributed to the significant presence of consumer base for numerous applications of glass such as automotive, kitchen utensils, packaging, consumer electronics, and many other applications.

North America emerged as the third largest market in terms of volume in the year 2023. Though packaging industry accounts for the largest share in the market, demand for jumbo coated architectural flat glass registered significant growth since the past few years. The trend expected to continue for notable time period.

Glass Manufacturing Market Share, By Region, 2023 (%)

Glass Manufacturing Market Growth Factors

An escalating growth in the demand for consumer electronics products owing to increasing penetration of Artificial Intelligence (AI) in consumer and business applications, proliferation in the production of smartphones, and declining prices of consumer electronic devices are some of the major factors that drive the market growth.

Other than this, profound increase rise in the infrastructure development along with construction activities projected to propel the demand for glasses over the upcoming timeframe. For instance, in January 2019, the government of Saudi Arabia announced to invest more than USD 426 Billion in infrastructure projects by 2030 primarily for the development in key areas for example technology, hospitality, and mobility.

Additionally, increasing concern among government of various regions to avoid the non-degradable substances for packaging and other applications have spur the demand for glass as an alternative source. Glasses are the most preferred materials over non-degradable and wood products owing to environmental protection concern and preventing the fast depletion rate of natural resources. The above mentioned factors expected to prosper the market growth over the forthcoming years.

Market Scope

Report Highlights Details
Market Size in 2023 USD 189.18 Billion
Market Size in 2024 USD 200.15 Billion
Market Size by 2034 USD 351.74 Billion
Growth Rate from 2024 to 2034 CAGR of 5.8%
Base Year 2023
Forecast Period 2024 to 2034
Segments Covered Product, Application, and Regions
Regional Scope North America, APAC, Europe, Latin America, MEAN, Rest of the World

Product Insights

Container glass captured the maximum market share in terms of volume and accounting for around 50% in the year 2023. This is mainly attributed to the rapid growth of beer industry along with significant demand of alcoholic beverages especially in Eastern Europe and the Asia Pacific regions. Furthermore, shifting consumer preference from plastic container towards glass container because of its attractive properties in the kitchen storage materials sector predicted to spur the growth of the segment over the analysis period.

In terms of revenue, fiberglass anticipated to witness the fastest growth rate of more than 4% between the years 2024 and 2034. Extensive application of fiberglass in automobile industry owing to its high strength and lightweight properties attributed as the key factor that drives the growth of the segment. Further, increasing usage of fiberglass in construction & building sector especially for insulation and composite applications likely to propel the growth of the segment over the analysis period.

Flat glass is the other most significant product segment that exhibits prominent growth over the forthcoming years. Solar application expected to be the crucial factor in driving the demand of the flat glass in the years to come. With numerous benefits of renewable energy over conventional sources propel the installation of solar power plants across the globe. Furthermore, environmental concerns, advancements in solar technology, depletion of non-renewable resources, and reductions in the cost of solar installations are the other significant factors that contribute towards the growth of flat glasses in the near future.

Application Insights

Packaging application dominated the global market and accounted for a value share of roughly 45% in the year 2023. Glass is more hygienic compared to other materials and have superior flavor retention capability that makes it ideal in food packaging application. Other than this, extensive demand of glass materials for packaged consumer goods because of increasing consumer disposable income especially in developing economies of the Asia Pacific and Middle East &Africa.

Electronics application projected to register the fastest growth of over 5.0% in terms of value over the forecast timeframe. The growth of the segment can be attributed to the rapid expansion and rising innovation in the production of consumer electronic devices. Further, increasing penetration of scratch-resistant glasses particularly in smartphones and tablets expected to boost the growth of the segment over the coming years.

Glass Manufacturing Market Companies

  • AGC Inc.
  • Heinz Glass
  • Nippon Sheet Glass Co., Ltd.
  • Saint Gobain
  • Central Glass Co. Ltd.
  • Nippon Electric Glass Co. Ltd.
  • Guardian Industries
  • Fuyao Glass Industry Group Co., Ltd.
  • Owens Illinois Inc.
  • NSG Co., Ltd
  • Koa Glass
  • Nihon Yamamura
  • Amcor
  • 3B - the fiberglass company

Key Companies Share Insights

The global glass manufacturing industry seeks intense competition among the market players owing to rising penetration of major players in same application segment. For instance, several players in the industry are focusing towards particular product segment. Ardagh; Owens Illinois Inc.; and Vetropack dominated the container glass market whereas Saint Gobain; AGC Inc.; and Guardian Industries are the key players in flat glass sector. The Asia Pacific is considered as the potential market due to significant economic growth of the region within past few years. In June 2018, ÅžiÅŸecam Group acquired 49.8% stake in HNG Float Glass Limited to strengthen its position in the India market.

Segments Covered in the Report

By Product

  • Flat Glass
  • Container Glass
  • Fiberglass
  • Others

By Application

  • Construction
  • Packaging
  • Transportation
  • Telecommunication
  • Electronics
  • Others

By Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

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Frequently Asked Questions

The global glass manufacturing market size is expected to be worth USD 351.74 billion by 2034 from USD 189.18 billion in 2023.

The global glass manufacturing market is growing with at a CAGR of 5.8% during the forecast period 2024 to 2034.

Container glass captured the maximum market share in terms of volume accounting for around 50% in 2023 due to the rapid growth of beer industry along with significant demand of alcoholic beverages.

Asia Pacific encountered was the prime market with nearly 50% of the volume stake in 2023 attributed to the significant presence of consumer base for numerous applications of glass.

Rising construction activities along with the government initiatives supporting development of infrastructural are accentuating the glass manufacturing market over the projected period.

Some of the key players operating in the market are AGC Inc., Heinz Glass, Nippon Sheet Glass Co., Ltd., Saint Gobain, Central Glass Co. Ltd., Nippon Electric Glass Co. Ltd., Guardian Industries, Fuyao Glass Industry Group Co., Ltd., Owens Illinois Inc., NSG Co., Ltd, Koa Glass, Nihon Yamamura, Amcor, and 3B - the fiberglass company among others.

Packaging application dominated the global market and accounted for a value share of roughly 45% in 2023 owing to its superior flavor retention capability .

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