Glass products are generally made from soda lime that comprises silica. These products are made from raw materials melted at a very high temperature. Various types of glass products are used in different sectors. Glasses are used in manufacturing of different product like bowls, vases, jars, bottles, lenses and many more.
Primarily the glass products are used in beverage industries, automobile industries and construction industries. The demand of glass products in construction industries is increasing at a rapid pace due to the rising population and income buildings are constructed. Moreover, the demand of glass product in beverage industries is also increasing followed by the automobile sectors.
The global glass product market is primarily driven by the increasing manufacturing and construction sectors. Use of tempered glass in automotive industries, laminated glass and insulating glass in solar energy is expected to fuel the demand of the glass product market globally. Another important driver of this market is the increasing end-user customers. Products like glass containers, glass bowl and many more glassware are used by the household consumers.
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However the containers are also used by many manufacturing sectors to pack the food products in it and sell the products to the end user customers. Increasing engineering and architectural trend toward increasing use of glass in building facades is also driving the glass product market.
One of the major restraints of this market is the increasing price of the raw materials. In order to manufacture a glass product industries need raw materials like soda ash, dolomite/limestone and silica sand. Due to the rising price of the soda ash, and industrial salt along with reduction in supply of fuel used for manufacturing glass the global glass product market is acting as a restraint.
The price of the industrial salt have increased by five to ten percent whereas soda ash prices increased by eight to twelve percent. Therefore, increase in price of industrial salt has resulted in increase in the price of soda ash.
Increasing research and development department that innovate specialized, advanced and customized products is acting as one of the major opportunities for glass product market. Moreover, introduction of eco friendly glass products is also acting as an opportunity in global glass products market.
Glass products made from recycled material or scrap instead of making it from raw materials creates fifty percent less water pollution and twenty percent less air pollution. Recycled glass products are inert material and are safe to use both in domestic and industrial sectors.
On the basis of product types the glass products market is segmented into four categories which includes tempered, laminated, basic float and insulating glass products. Moreover, the glass product market is geographically segmented in four regions which include North America, Europe, Asia-Pacific and RoW (Rest of the World). However, the global glass product market is matured in economies like North America and Europe due to rapid growth in construction sectors.
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The major market leaders in global glass products market are Asahi Glass Company, SAGE Electrochromics Inc., Gentex Corporation, PPG Industries Inc., Guardian Industries Corp. and Central Glass Co Ltd among others.
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