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Glass manufacturing market share from container glass segment is projected to exhibit over 5% CAGR between 2023-2032. Expanding food and beverage sector presents a robust demand for glass containers. While plastic is extensively used in food/beverage packaging, glass is the more preferred material for storage. It is more hygienic and easier to clean as compared to plastic containers and has lesser particle migration.
Glass containers are 100% sustainable and infinitely reusable, refillable, and recyclable. Various studies have found that certain chemicals in plastic are released into the food on heating and can cause metabolic disorders and fertility issues. For instance, BPA (Bisphenol A) is a chemical found in plastic containers which can potentially affect the brain and prostate gland of infants, fetuses, and children.
In terms of revenue share, the glass manufacturing market from the packaging sector is estimated to account for over USD 115 billion by 2032. Glass packaging has widespread application across the F&B sector to store processed baby foods, condiments, instant coffee, dairy products, syrups, and processed fruit & vegetables. The high penetration of glass packaging across F&B applications can be attributed to its flavor retention properties.
Glass is also the preferred choice of packaging among pharmaceutical companies as it is sturdier and possesses low health hazards. Pharma products with glass packaging can be easily transported in bulk and offer chemical resistance against the product. Several vaccine manufacturers are using colored glass to protect light-sensitive medicines from exposure to UV rays.
Asia Pacific glass manufacturing market value is poised to reach USD 230 billion by 2032. APAC countries such as China and India showcase dynamic glass manufacturing output owing to rapid industrial and economic growth. Owing to the constantly escalating population, the region is witnessing a substantial rise in construction activities, propelling the demand for flat glass.
Developing economies across APAC have attracted international glass manufacturers to set up their facilities due to the lower cost of production in the region. For instance, in March 2022, the Indian operations of French float glass maker Saint Gobain announced an investment worth USD 61 million in a new integrated window line along with a float glass facility at its World Glass Campus in Chennai, India. The company aims to boost its revenue to USD 366 million by 2030.