Glass Manufacturing Market size was over USD 126.53 billion in 2024 and is projected to reach USD 256.94 billion by 2037, witnessing around 5.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of glass manufacturing is assessed at USD 132.2 billion.
The reason for this increase is attributed to an increase in global infrastructure development investments. According to a report by the World Bank in 2023, in developing countries, investors invested about USD 85.6 billion in infrastructure projects, and it is expected that by 2030, every year, about 4.5% of GDP will be about USD 1.5 trillion for middle- and low-income countries.
Growth Drivers
Challenges
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
5.6% |
|
Base Year Market Size (2024) |
USD 126.53 billion |
|
Forecast Year Market Size (2037) |
USD 256.94 billion |
|
Regional Scope |
|
Product (Flat Glass, Container Glass, Fiber Glass, Specialty Glass)
Container glass segment is projected to hold more than 45% glass manufacturing market share by 2037. The segment's lucrative growth rate can be propelled by the increasing demand for packaging applications anticipated by the slated demand for eco-friendly and sustainable packaging, as renewable, recyclable, biodegradable packaging attracts more businesses and consumers to reduce their environmental footprints. Research Nester analysis observed that in 2023, more than 64% of consumers in the UK would purchase a product if it had sustainable packaging.
Consumers are also willing to pay more in this sector owing to the environmentally friendly process and packaging of these products. Moreover, glass containers are infinitely reusable and about 100% sustainable, recyclable, and refillable, which acts as a growing factor for this sector as plastics release toxins into the food while heating that can cause fertility issues and metabolic disorders.
Sector (Packaging, Automotive, Construction, Telecommunication, Electronics)
The packaging segment is estimated to grow at a notable CAGR in the coming years due to the increasing food & beverage industry, as glass material plays a vital role in storing processed foods, fruits & vegetables, syrups, dairy products, instant coffee, condiments, and many more. Moreover, glass material is also used in food and beverages to prevent bacterial growth. According to a report by the National Institutes of Health in 2023, the food manufacturing landscape contributes about 2.1% of the GDP in developing countries.
Additionally, glass materials are also used in several other industries including, cosmetics, pharmaceuticals, dairy, and many others.
Our in-depth analysis of the glass manufacturing market includes the following segments:
|
Product |
|
|
Sector |
|
APAC Market Statistics
Asia Pacific industry is anticipated to account for largest revenue share of 40% by 2037. The market expansion in the region is expected on account of the slated demand for infrastructure development and construction projects, which will attract more businesses and consumers and increase its revenue share. According to the World Bank, they provided more than 12 billion to developing countries to support infrastructure development, while highlighting that several developing countries have to spend about 4.5% of GDP for basic improvements in energy, digital, transport, and several other sectors.
China's ever-growing economy and rapid industrialization are set to fuel the glass manufacturing market’s growth. According to a report in 2022, it is projected that by 2035 the urbanization rate of China will cross 78%, which was valued at 66% in 2023.
In Japan there is a surge in urbanization and increasing demand for manufacturing & construction activities along with infrastructure development. According to the UN-Habitat, it is projected that the urban population in Asia Pacific will grow by 50% by 2050.
North American Market Analysis
The North American region will also encounter a huge influence on the glass manufacturing market during the forecast period and will account for the second position attributed to the increasing demand for the construction sector. According to a report published by the U.S. Bureau of Census in 2024, there was an increase of about 4.1% in the country’s spending on construction in 2020 as compared to the same study done in 2017. Additionally, consumers are more aware of their packaging choices and are becoming highly aware of the environmental impacts because of them. According to a recently published report, about 13 environmental indicators reported that about 10% of the total life cycle emissions are caused by plastic packaging.
Moreover, Canada is predicted to have a high demand for glass manufacturers propelled by the slated growth rate of the construction sector. According to a report in 2024, the construction industry is one of the main contributors to Canada’s GDP, as employment in construction has increased by 80% since 2002 that is about 1.5 million people now.
Most of the companies are continuously collaborating, expanding, making agreements, and joining ventures for the growth of this sector and are estimated to be the major key players in this landscape.
Author Credits: Rajrani Baghel
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?