Ocean View, DE -- (SBWIRE) -- 04/16/2020 -- According to the new research report, Glass Manufacturing Market size was estimated at USD 238.39 billion in 2018 and is projected to surpass USD 321.23 Billion by the year 2026.

Glass manufacturing is experiencing exponential growth owing to rapid expansion of end- user sectors such as automobiles, construction, optics and electronics. New construction, remodeling & renovation activities are on rise.

The real estate industry is also tracing an upward graph. In addition, rising environmental concerns and favorable regulatory scenario is supporting the use of glass over plastic.

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Driven by positive application outlook in automobile, packaging and construction sector, glass manufacturing market size is projected to gain remarkable traction over 2019 – 2026. Glass is used across multiple industry verticals as it can be both, a luxurious decorative piece in a household or a functional material in an industry.

Fiber glass is experiencing extensive adoption in various end user industry including construction, chemical, manufacturing, etc. owing to attractive product features such as incombustibility, high mechanical strength, low thermal conductivity and dimensional stability. Structural advantage of the material is the key factor driving product demand. Fiber glass manufacturing industry is anticipated to register a CAGR of more than 3.2% over the analysis period.

Glass is well-suited for application in food and pharmaceutical packaging. Glass being a chemically inert material is a safer option than plastic alternatives as chemical migration rate in much higher in plastic when compared to glass. Glass can also be recycled repeatedly and has unlimited recyclable potential, making it fit for packaging and storage of food and beverages. Packaging applications holds a substantial share of over 35% in the global glass manufacturing market.

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In a bid to make a transition from oil based to investment driven economy, countries including Saudi Arabia and the United Arab Emirates are increasingly investing in infrastructural development. These investments from government includes large scale construction in hospitality and tourism sector. Middle East & Africa glass manufacturing industry size is expected to gain major traction over the coming years.

Market By Product
- Flat glass
- Container glass
- Fiber glass
- Specialty glass

Market By Sector
- Packaging
- Automotive & transportation
- Construction
- Telecommunication
- Electronics
- Others

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Growing demand for luxury vehicles, embedded with toughened glass will also bolster the demand for glass. From application in automotive & transportation segment, glass manufacturing market is likely to garner considerable profits. Key product manufacturers in the glass manufacturing market are AGC Inc., Saint-Gobain S.A., Corning, Vitro, Kyocera Corporation, NSG Group, Schott AG, Vetropack Holdings Ltd., AIS Glass, Guardian Glass LLC, and China Glass Holdings, among others.

These manufacturers are steadily increasing their expenditure on R&D activities and are focusing on expanding presence through acquisitions. For instance, the R&D expenditure of Saint-Gobain rose from USD 7.8 billion in 2016 to USD 8.1 billion in 2018.

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