The Glass Manufacturing Market is being driven by Rise in sales of electronic display units
The Glass Manufacturing Market is expected to grow at a CAGR of 6.79% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 70.3 billion. In response to the escalating demand for glass products and the necessity for enhanced production efficiency and sustainability, leading glass manufacturers are making significant investments in new manufacturing facilities. For instance, Corning Inc., based in the United States, in collaboration with Optiemus, recently broke ground on India's first Gorilla cover glass manufacturing facility in Tamil Nadu. This development marks a significant contribution to the global glass manufacturing market, as it boosts local production capabilities and caters to the growing demand for advanced glass solutions. These investments are strategic moves aimed at increasing production capacity, improving operational efficiency, and reducing costs, thereby ensuring competitiveness and profitability in the market.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
171 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.79% |
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Market growth 2024-2028 |
USD 70.3 billion |
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Market structure |
market_structure.ucfirst |
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YoY growth 2023-2024(%) |
6.25 |
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Key countries |
China, US, Germany, France, and India |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Glass Manufacturing Market encompasses various applications such as Façades, Windows, Doors, Railings, Glass Containers, and Solar Energy. Recyclable materials are increasingly used in Glass Manufacturing, including Container Glass and Flat Glass. Solar applications, like solar power plants and consumer electronic devices, utilize Scratch-Resistant Glasses and Solar-Grade Glass. Raw material prices impact the industry, with Glass competing against Plastic, Fiberglass, and Acrylic. The Electronics Sector and Home Interior Products, including Decorative Glass, are significant markets. Renewable Energy sources, like Solar Power, continue to drive innovation in the sector.
The global industrial machinery and supplies and components market, encompassing manufacturers of machinery and components for presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications, is experiencing significant growth. This expansion is attributed to the increasing industrial output in process and discrete industries, particularly in developing countries, fueling demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages. Furthermore, the adoption of recyclable materials in glass manufacturing for façades, windows, doors, railings, glass containers, and solar energy applications is driving market growth. Key players in this sector include Berlin Packaging, Flat glass manufacturers, and the telecom industry, which are investing in advanced technology and raw material price competitiveness to meet rising demand.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
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