Glass And Glass Products Global Market Report 2023
Major players in the glass and glass products market are Guardian Industries Corp., Central Glass Co. Ltd., Nippon Sheet Glass Co. Ltd., Schott AG, ChinaGlass Holdings Ltd., Saint-Gobain S.A., Asahi Glass Company, Corning Incorporated, Vitro S.
New York, June 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Glass And Glass Products Global Market Report 2023" - https://www.reportlinker.com/p06464036/?utm_source=GNW
A.B. de C.V., Kyocera Corporation, CoorsTek Inc., Morgan Advanced Materials, AIS Glass, Cardinal Glass Industries Inc., and Dillmeier Glass Co.
The global glass and glass products market is expected to grow from $202.93 billion in 2022 to $216.27 billion in 2023 at a compound annual growth rate (CAGR) of 6.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The glass and glass products market is expected to reach $263.31 billion in 2027 at a CAGR of 5.0%.
The glass and glass products market consists of sales of obscured glass, float glass, tinted glass, heat strengthened glass, annealed glass, and mirrored glass.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Glass and glass products refer to inorganic solid substances that are normally transparent or translucent, as well as rigid, brittle, and impenetrable to natural elements. They are manufactured by rapidly cooling liquid materials such as silica sand to avoid apparent crystal formation.
Asia-Pacific was the largest region in the glass and glass products market in 2022. The regions covered in the glass and glass products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of glass and glass products are tempered glass, laminated glass, basic float glass, and insulating glass.Tempered glass is a form of glass that has been strengthened by thermal or chemical treatments, used in a wide range of applications, including shower doors, automobile windows, phone screens, and architectural elements like skylights and balustrades.
These are distributed through various channels including B2B (business-to-business), specialized stores, supermarkets or hypermarkets, e-commerce, and others for various applications including packaging, construction, transportation, electrical & electronics, telecommunication, and others.
Demand for solar energy is expected to propel the growth of the glass and glass products market going forward.Solar energy is the conversion of sunlight into thermal or electrical energy.
It uses energy to generate electricity, provide light or a warm indoor atmosphere, and heat water for household, commercial, or industrial purposes.Glass is used in solar panels because it can transfer sunlight without absorbing it; it works as a mirror with a reflecting coating on one or both sides that helps concentrate sunlight, and most solar panel glasses are tempered to endure harsh weather conditions.
For instance, in September 2022, according to a report published by the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, solar PV power output grew by 179 terawatt hours (TWh) in 2021, reaching 1,000 TWh, representing a 22% increase over 2020.Moreover, it is predicted to attain an annual solar PV generation level of around 7,400 terawatt hours by 2030.
Therefore, the demand for solar energy is driving the growth of the glass and glass products market.
Product innovation is a key trend gaining popularity in the glass and glass products market.Major companies operating in the glass and glass products market are focused on developing innovative solutions to strengthen their position in the market.
For instance in September 2021, Vitro Architectural Glass (Vitro, S.A.B. de C.V.), a US-based glass manufacturer, introduced VacuMax Vacuum Insulating Glass (VIG), which can be readily integrated into traditional and advanced glazing systems to give high R-values and insulating performance. The new device includes an 8.3mm tempered VIG unit, which is made up of two completely tempered glass lites separated by a non-leaded metal seal and a vacuum void. Its thin design and light weight enable it to be integrated into practically any traditional glazing system or window frame. This product is unique as it may improve the performance of any insulating glass unit by dramatically enhancing thermal efficiency, offering insulation performance that is two to four times greater than ordinary insulating glass and six to ten times better than standard monolithic glass.
In August 2021, Dynamic Glass LLC, a US-based glass producer, acquired Colorado Window Systems Inc. for an undisclosed sum. This purchase is an excellent fit for Dynamic Glass LLC’s strategic expansion plan since it adds a large presence in a high-growth, major U.S. market. Colorado Window Systems Inc. is a US-based commercial glass, glazing, and architectural metal firm.
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.
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.
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.
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