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The glass market is estimated to grow by USD 75.6 billion, at a CAGR of 4.36% between 2023 and 2028. The market is experiencing significant growth, driven by several key factors. One of the primary drivers is the increasing consumption of beverages, particularly soft drinks leading to a rise in demand for glass bottles. Another growth factor is the increasing use of flat glass in photovoltaic modules and e-glass due to the rising need for clean energy. This trend is expected to continue as the world transitions to renewable energy sources. However, the market faces challenges from alternatives such as plastic bottles and other packaging materials. These alternatives offer cost advantages and are gaining popularity, particularly in the beverage packaging industry. Despite this, the market is expected to maintain its position due to its superior properties, including reusability, recyclability, and impermeability to light and gases. Overall, the glass market is poised for steady growth in the coming years, driven by increasing demand for glass in various end-use industries.
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The market share growth of the container glass segment will be significant during the forecast period. Due to their capacity to retain chemical inertness, sterility, and non-permeability, containers are frequently used in the alcoholic and non-alcoholic beverage industries. Essentially, silica and boron trioxide are the two principal components used to create a container. However, the process of making a container releases a variety of air-polluting substances, such as sulfur dioxides, and nitrogen oxides, and causes several health-related diseases. Hence, the segment is expected to witness moderate growth during the forecast period.
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The container glass segment was valued at USD 128.40 billion in 2018. They are most suitable for usage in the food and beverage, pharmaceutical, packaging, and other end-use sectors because of their extremely low coefficient of thermal expansion (around 3x10-6 per Kelvin at 20 degrees Celsius). The demand is rising due to the rising consumption of alcoholic beverages.
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APAC is estimated to contribute 73% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market in APAC is expected to grow at a significant rate during the forecast period compared with that in other regions. Growing urbanization, infrastructure construction, and government incentives and assistance for implementing high energy efficiency solutions, particularly in developing nations, are the primary market growth drivers in APAC. In APAC, the market is dominated by China, India, and Australia. Chinese consumers spend a lot of money on high-end interior, wall, and roofing materials. The region's most important market is China. The expansion of the market in APAC for the forecast period will be fueled by an increase in the construction of buildings, shopping malls, office buildings, hospitals, data centers, and telecom facilities.
The market is witnessing significant growth due to investments in infrastructure development and the rising demand for consumer electronics. Industry trends indicate a growing focus on advancements in chip and semiconductor technology, driving demand for raw materials in the electronics sector. The use of these in telecommunication devices, residential and commercial construction, and recyclable materials for windows, doors, railings, and containers is on the rise. Smart glass is making significant strides in both the construction sector and the automotive sector. In building design, electrochromic materials enhance minimalist architecture with advanced safety features and heat insulation, while also offering soundproofing and solar protection. This not only boosts functional improvement but also adds to the aesthetic appeal of structures. For the automotive sector, connected vehicles leverage electronic displays and smart glass to enhance safety and driver experience, reflecting trends in automotive production. As spectacles demand rises, innovations in smartphone production and artificial intelligence (AI) are crucial, particularly in optimizing packaged foods and addressing resource depletion. To combat challenges such as non-biodegradable materials, both the solar industry and advancements in environmental protection are essential for sustainable progress and reducing our ecological footprint.
The increasing consumption of beverages is notably driving the market growth. The demand for these containers in the food and beverage industry is surging due to various factors, including increased investments in infrastructure development and rising consumer electronics preferences. This uptick is fueled by advancements in chip and semiconductor technology, leading to a surge in the production of telecommunication devices. Moreover, the use of these containers extends beyond the food and beverage sector, encompassing residential and commercial construction for applications such as windows, doors, and railings.
During the forecast period, the global market is poised for growth, driven by the proliferation of various package sizes and the introduction of fresh products. As economic activities flourish, particularly in domestic construction and industrial sectors, there's a parallel rise in the demand for packaging. The recyclable nature of these further enhances its appeal, especially in sustainable manufacturing practices. These industry trends present significant growth opportunities for these container manufacturers, positioning them for substantial expansion in the market.
The increasing use of flat glass in photovoltaic modules and e-glass is the key trend in the market. Manufacturers are actively investing in various energy-efficient solutions to counter the rising energy costs without compromising on the quality of the services provided. The reduction in the prices of solar photovoltaic (PV) modules and the increase in government support for the development of renewable energy is driving the demand from the energy industry.
This is used as protection against sun rays and excessive temperature. The demand in the building industry has increased as a result of increased awareness of the advantages of e-glass. The demand in solar PV modules has recently been fueled by factors including deregulation and the restructuring of power-generating enterprises to reduce greenhouse gas emissions (GHG). During the forecast period, this is anticipated to have a positive effect on market growth.
Fluctuations in raw material prices is the major challenge impeding market growth. The major raw materials used in manufacturing these containers include sand, soda ash, and limestone. Fluctuations in the supply of these raw materials significantly affect their prices. The high demand for a specific raw material also leads to an increase in its price. Soda ash is one of the major raw materials in its manufacturing, and it accounts for more than 50% of the total cost. The price of soda ash has been continuously rising since January 2018.
Container producers typically raise the price of the finished goods to make up for the rising expenses of raw materials. The high cost of the containers would deter customers from purchasing the goods, which would lower sales volume and have a detrimental effect on the market growth.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Fuyao Glass Industry Group Co. Ltd. - The company offers glass products such as Rail transit glass and Automotive glass as its key offerings. The company is into designing, manufacturing, distribution, and after-sales service for glass products such as automotive glass and float glass.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market players, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The market is influenced by various factors such as Infrastructure industry demand, LEED buildings for sustainability, and real estate industry growth. Manufacturing activities impact supply chain challenges, while solar panels drive demand for tempered glass. Vaccine manufacturers require specialty glass for storage, and worker safety is crucial in glass production. Integrated window line technology enhances efficiency, and sound insulation is essential for comfort. Plastic containers face challenges from potential alternatives, and tinted glass protects against UV rays. Packaging applications use laminated glass for safety, and refillable and reusable glass products promote sustainability. The market is impacted by factors like Carbon footprint and CO2 reduction initiatives. Developed economies drive demand for glass alternatives in green buildings.
Moreover, the commercial spaces benefit from decorative glass and colored glass. In the F&B sector, glass bottles are preferred for flavor retention properties. Glass vials are crucial for pharmaceutical companies for vaccine storage. IoT integration and electrochromic technology are revolutionizing building architecture with innovations like active smart glass and self-cleaning glass. In residential construction, automatic tinting and interactive displays meet high construction standards while addressing environmental factors. The infrastructure sector benefits from jumbo-coated architectural flat glass and fiber glass, enhancing construction output and solar power applications. In the automotive market, autonomous vehicles and Heads-Up Display (HUD) are advancing vehicle production and transportation. Energy-saving strategies and increased solar capacity support a greener future across industries.
Market Scope |
|
Report Coverage |
Details |
Page number |
182 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.36% |
Market growth 2024-2028 |
USD 75.6 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.12 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 73% |
Key countries |
China, US, India, Japan, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AGC Inc., Asahi India Glass Ltd., Cardinal Glass Industries Inc., Central Glass Co. Ltd., China Glass Holdings Ltd., Compagnie de Saint Gobain, DBs Glass and Glazing, Dillmeier Glass Co., Euroglas GmbH, Fuyao Glass Industry Group Co. Ltd., Kibing Group, Koch Industries Inc., Nippon Sheet Glass Co. Ltd., SCHOTT AG, SHEBEI HUAJINDE GLASS CO. LTD., Taiwan Glass Ind. Corp., Toyo Seikan Group Holdings Ltd., TURKIYE SISE VE CAM FABRIKALARI A.S., Vitro SAB De CV, and Xinyi Glass Holdings Ltd. |
Market dynamics |
Parent market growth analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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