Dec 23rd, 2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Glass Manufacturing Market.
Glass Manufacturing Market is likely to witness a CAGR of 4.8% during the forecast period. Growing applications of glass in electronic and telecommunication devices are significantly bolstering the industry expansion. Surge in consumption of glass products for various construction activities in developing countries across the globe is likely to propel the growth of the market. Government initiatives supporting infrastructural development will corroborate the product share over the forecast period.
Glass has evolved from a luxurious aesthetic piece to a functional and crucial substance. The potential for the glass manufacturing sector has certainly increased as a result of some of the major breakthroughs and revisions in technologies.
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Glass Manufacturing Market Share: By Product Type
Based on the product type, the market is segmented as flat glass, container glass, fiber glass, and specialty glass. Specialty glass is expected to witness significant growth rate in the market during the forecast period. The growth of the segment is owing to the increase in offerings offered by specialty glass products such as tableware, cookware, scientific and medical equipment, and tubes. In many areas, specialty glass outpowers conventional glass, such as resistance to abrupt temperature fluctuations, chemical inertness, and durability. Another segment is fiber glass, which is expected to gain a large share of the market, owing to expansion in its end-industry categories such as construction and automotive.
Glass Manufacturing Market Share: By Region
In terms of regions, Asia-Pacific is estimated to be the leading region in the market, owing to the fact that the region's high population density, combined with strong industrial and economic growth, has resulted in increased product demand from all sector verticals. The demand for flat glass in the region is mostly driven by the construction industry. Many large firms have built up production operations in China and India because of the lower construction costs. The demand for glass has been bolstered by the existence of industries such as automotive and aerospace in the region.
COVID-19 Impact on Global Glass Manufacturing Market
Covid-19 outbreak impacted the growth of the bearing for steel market negatively. The spread of coronavirus led to enforcement of lockdown to curb the spread of virus. This led to travel restrictions and supply chain disruptions, which in turn affected the product availability on time.
Key players operating in the Glass Manufacturing market are-
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Features of the Report:
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Glass Manufacturing Market analysis report discusses the following heads in great detail:
· Market structure: Overview, industry life cycle analysis, supply chain analysis
· COVID-19 Impact Assessment
· Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
· Market trend and forecast analysis
· Market segment trend and forecast
· Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
· Attractive market segments and associated growth opportunities
· Emerging trends
· Strategic growth opportunities for the existing and new players
· Key success factors.
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