Ocean View, DE -- (SBWIRE) -- 06/18/2020 -- A report published by Global Market Insights, Inc., projects that in terms of revenue, global glass manufacturing market is likely to exceed the USD 320 billion mark by the end of 2026.

Glass is used in most of the sectors of the economy such as automobile, construction, electronics, and telecommunications. Some of the advantages of glass include transparency, waterproof, aesthetic appeal, ability to be recycled, UV stability and resistance to weather and rust.

The recent increase in the disposable income among people in both developed and emerging nations has propelled advancements in the automobile industry. Glass is used in various automobile parts such as headlights, windshields, taillights and windows. Growing demand for advanced automobile solutions that are fuel-efficient and aesthetically appealing will positively influence glass manufacturing market trends in the coming years.

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The U.K. automobile industry annually registers a turnover of USD 97 billion. In the year 2019, nearly 1.3 million vehicles were manufactured. Glass forms an essential component of automobile production, they are extensively used in the manufacturing of the cars. It is a versatile product the renders both visibility as well as safety and protection.

Moreover, they also enhance the aesthetics of the vehicle and are now widely being used as a part of vehicle's interiors. Significant production of automotive components for OEM as well as aftermarket applications will undoubtedly drive glass manufacturing market, which is expected to surpass US$320 billion in valuation by 2026.
Expanding aerospace sector

An increase in air passenger traffic in both developed and emerging nations is supplementing growth in aerospace industry. In the year 2018, nearly 1,106 million people in Europe traveled by air, registering a notable increase as compared to 2017 numbers. Fiberglass is widely being used in the aerospace industry to reduce the overall weight of the vehicle as compared to conventional aluminum bodies.

Glass fiber components are extremely strong. The core material of a part of the aircraft such as the wing when surrounded by fiberglass renders superior strength. Fiberglass proves to be durable and long-lasting. This type of glass when used in the aircraft doesn't crack or corrode, reducing the overall cost of maintenance.

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Flourishing construction industry

Surging need for construction of residential and commercial complexes especially in developing countries like India, China, Argentina, Mexico, and Singapore to accommodate the growing urban population, who can spend on improved housing solutions, is magnifying the demand for glass in both houses and commercial spaces like offices, stores and others.

Glass is used indoors, windows and as interior elements to render visual appeal and provide safety. Initiatives undertaken by the government to provide housing to people belonging to the lower strata of the society and the need to carry out refurbishment of buildings is a vital factor driving the product demand. An increase in FDI inflows in many major emerging nations is complementing the construction of office buildings, driving glass consumption.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.