GLASS MANUFACTURING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Glass Manufacturing Market Size and Trends

Global glass manufacturing market is estimated to be valued at USD 123.57 Bn in 2024 and is expected to reach USD 175.04 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.1% from 2024 to 2031.

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Global glass manufacturing market has been witnessing significant growth due to rising demand for specialty glass from end-use industries like construction and automotive. Advancements in manufacturing technologies have allowed glass producers to offer high-performance products made of tempered glass and laminated glass. Moreover, increasing spending on construction activities across commercial and residential sectors in developing nations boosts sales of various glass types. The market players are also focusing on expanding their production capacities and developing sustainable products to capitalize on new revenue streams.

Rising Demand for Architectural Glass Applications

The construction industry has been witnessing significant growth over the past few years due to rapid urbanization and industrialization activities across major developing economies. Glass is increasingly used in modern architecture and building construction projects due to its aesthetic appeal, durability, and ability to allow natural light. There has been a rising focus on designing energy-efficient and eco-friendly buildings with large glass façades and windows to reduce electricity consumption from artificial lighting and provide occupants with access to natural light. This raises the need for advanced glass products that improve insulation and optimize the use of daylight. Furthermore, glass is the material of choice for skyscrapers and high-rise buildings due to its high strength-to-weight ratio and resistance to corrosion. Rapid growth in commercial construction in urban areas along with mega infrastructure projects boosts demand for specialized glass such as reinforced, laminated, and insulated glass units. Architects and designers are also incorporating decorative and patterned glass finishes to add visual appeal to the interiors and exteriors of buildings. Governments across countries have implemented green building codes and energy efficiency mandates, which is positively influencing the uptake of high-performance architectural glass.

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Growth of the Automotive Industry

The automotive industry has been  witnessing growth due to strong economic growth, rising disposable incomes, and increasing vehicle ownership rates across emerging nations. Automakers are focusing on enhancements in safety, driver-assistance, connectivity, and aesthetics to cater to the evolving needs and preferences of customers. Glass plays a vital role in meeting specifications related to structural rigidity, crash resistance, and emissions control in modern vehicles. Laminated, tempered, and toughened automotive glass processes sophisticated coatings and treatments to block infrared rays and provide protection against scratches, cracks, stone-chips, and accidents. Manufacturers are integrating more glass surfaces in car bodies to reduce weight and enhance aerodynamics in order to improve fuel efficiency and meet stringent emissions standards. Furthermore, advancements in auto electronics and infotainment systems have boosted demand for specialized glasses like heads-up displays, panoramic sunroofs, and rear sky windows in premium vehicles. Rising middle-class population with increasing disposable incomes in emerging economies is expanding the automotive consumer base, and this will boost glass consumption in the automotive industry. For instance, according to the data published by IBEF in 2024, the Indian passenger car market was valued at US$ 32.70 Bn in 2021, and it is expected to reach a value of US$ 54.84 Bn by 2027 while exhibiting CAGR of over 9% between 2022-2027.