Glass and Glass Products Global Market Report 2024

The glass and glass products market size has grown strongly in recent years. It will grow from $217.03 billion in 2023 to $230.02 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth observed in the historical period can be attributed to a surge in architectural activities, expansion in the automotive industry, the growth of consumer electronics, increasing industrialization and manufacturing needs, as well as activities related to renewal and replacement.

The glass and glass products market size is expected to see strong growth in the next few years. It will grow to $283.73 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The anticipated growth in the forecast period can be attributed to initiatives promoting green building, the adoption of smart glass technologies, the rise of electric and autonomous vehicles, a heightened focus on safety, and advancements in display technologies. Key trends expected in the forecast period encompass an increasing preference for recycled glass, the digital transformation of glass manufacturing processes, the expanding use of glass in electronics, considerations for safety and security, and the impact of global urbanization trends.

The glass and glass products market is poised for growth, propelled by the increasing demand for solar energy. Solar energy, the conversion of sunlight into thermal or electrical energy, utilizes glass in solar panels due to its ability to transmit sunlight without absorption. Glass serves as a reflective mirror with a coating on one or both sides, concentrating sunlight, and most solar panel glasses are tempered to withstand harsh weather conditions. According to a September 2022 report by the International Energy Agency (IEA), solar PV power output witnessed a 22% increase in 2021, reaching 1,000 TWh, and is projected to achieve an annual solar PV generation level of approximately 7,400 terawatt hours by 2030. Consequently, the rising demand for solar energy is a driving force behind the growth of the glass and glass products market.

Anticipated growth in the construction and infrastructure sectors is expected to further boost the glass and glass products market. The construction and infrastructure sector, encompassing activities related to building, repairing, and maintaining physical structures, relies on glass for various applications such as windows, doors, walls, floors, and cladding. Reports from September 2021 indicate a projected 42% increase, equivalent to $4.5 trillion, in global construction output, reaching $15.2 trillion between 2020 and 2030. Hence, the expanding construction and infrastructure sectors play a significant role in driving the growth of the glass and glass products market.

A prominent trend in the glass and glass products market is product innovation, with major companies focusing on developing inventive solutions to enhance their market position. In September 2021, Vitro Architectural Glass introduced VacuMax Vacuum Insulating Glass (VIG), a product designed for high R-values and insulating performance in both traditional and advanced glazing systems. The innovative design includes an 8.3mm tempered VIG unit with two glass lites separated by a non-leaded metal seal and a vacuum void. This product stands out by significantly improving thermal efficiency, providing insulation performance two to four times greater than ordinary insulating glass and six to ten times better than standard monolithic glass.

Major companies in the glass and glass products market are focusing on developing low-carbon glass. This type of glass is specifically designed to have a reduced carbon footprint. In September 2022, Saint-Gobain SA launched ORAE, the world's first low-carbon glass, containing about 40% less carbon than a standard clear glass pane. ORAE, created for facades, maintains the same light transmission and clarity as regular Saint Gobain glass, offering low everlasting reflection and a neutral tone for clear glass designs.

In August 2021, Dynamic Glass LLC strategically expanded its presence by acquiring Colorado Window Systems Inc., a US-based commercial glass, glazing, and architectural metal firm. This acquisition aligns with Dynamic Glass LLC's growth plan, providing a significant presence in a high-growth, major U.S. market.

Major companies operating in the glass and glass products market report are Guardian Industries Corp., Central Glass Co. Ltd., Nippon Sheet Glass Co. Ltd., Schott AG, China Glass Holdings Ltd., Compagnie de Saint-Gobain SA, Asahi Glass Company, Corning Incorporated, Vitro S.A.B. de C.V., Kyocera Corporation, CoorsTek Inc., Morgan Advanced Materials plc, Asahi India Glass Limited, Cardinal Glass Industries Inc., Dillmeier Glass Co., Cornwall Glass Ltd., McGrory Glass Inc., Owens-Illinois Inc., Fuyao Glass Industry Group, Pilkington Group Limited, Viracon Inc., Oldcastle Glass Inc., AGC Inc., Euroglas GmbH, Sisecam Group, PPG Flat Glass Inc., Saint-Gobain Glass Inc., Trulite Glass & Aluminum Solutions LLC, Gentex Corporation.

Asia-Pacific was the largest region in the glass and glass products market in 2023. The regions covered in the glass and glass products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the glass and glass products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of glass and glass products include tempered glass, laminated glass, basic float glass, and insulating glass. Tempered glass is a strengthened variant achieved through thermal or chemical treatments, widely employed in diverse applications such as shower doors, automobile windows, phone screens, and architectural elements such as skylights and balustrades. Distribution occurs through various channels, including B2B (business-to-business), specialized stores, supermarkets or hypermarkets, e-commerce, and others, serving multiple applications such as packaging, construction, transportation, electrical & electronics, telecommunication, and more.

The glass and glass products market research report is one of a series of new reports that provides glass and glass products market statistics, including glass and glass products industry global market size, regional shares, competitors with a glass and glass products market share, detailed glass and glass products market segments, market trends, and opportunities, and any further data you may need to thrive in the glass and glass products industry. This glass and glass products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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