Released July 22, 2024 | NEW DELHI
en
Researched by Industrial Info Resources (Sugar Land, Texas)--Fueled by the rising demand from sectors like construction, automotive manufacturing and electronics, the global glass market continues to witness steady growth. Traditional segments like float glass and containers continue to remain strong. Advancements in technology along with growing preference for sustainable solutions is further propelling the glass industry forward. Particularly noteworthy is the accelerating adoption of flat glass for solar applications and eco-friendly buildings and glass containers tailored for sustainable packaging solutions.
Industrial Info is tracking around more than 1,000 active capital spending projects valued at nearly US$53 billion geared toward glass manufacturing facilities. Of this total expenditure, approximately, US$23 billion is aimed at grassroot projects, US$16 billion toward plant expansions, and another US$8 billion at unit additions.
By type, the majority of the spending is attributed toward flat glass accounting for a significant 51% of total investments, followed by glass containers, mineral wool and glass products with a cumulative share of around 37%.
Globally, Asia dominates the glass market with investments worth US$37 billion accounting for 70% of the global spending. North America and Europe follow with spending worth US$6 billion and US$6 billion, respectively.
As a manufacturing giant, China is spearheading the glass market with investments worth US$25 billion as glass is widely utilized in construction, vehicles and various other sectors. Additionally, as a major player in solar industry, China is investing vigorously in photovoltaic glass manufacturing which accounts for around 42% of the country's total investments. Hebei Yingxin Glass Group Company Limited (Hebei, China) has investments worth US$1 billion across six projects focused on the setting up facilities to manufacture photovoltaic glass, including plants in Jinzhong and Ordos. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can learn more by viewing by the related project reports.
Next is the U.S., with spending around US$6 billion in the glass market, majorly driven by technological advancements in glass manufacturing and growing need for sustainable building solutions.
Turkey is also investing substantially with US$1.56 billion across 21 projects majorly focused on setting up plants for manufacturing flat glass and glass containers.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
Industrial Info is tracking around more than 1,000 active capital spending projects valued at nearly US$53 billion geared toward glass manufacturing facilities. Of this total expenditure, approximately, US$23 billion is aimed at grassroot projects, US$16 billion toward plant expansions, and another US$8 billion at unit additions.
By type, the majority of the spending is attributed toward flat glass accounting for a significant 51% of total investments, followed by glass containers, mineral wool and glass products with a cumulative share of around 37%.
Globally, Asia dominates the glass market with investments worth US$37 billion accounting for 70% of the global spending. North America and Europe follow with spending worth US$6 billion and US$6 billion, respectively.
As a manufacturing giant, China is spearheading the glass market with investments worth US$25 billion as glass is widely utilized in construction, vehicles and various other sectors. Additionally, as a major player in solar industry, China is investing vigorously in photovoltaic glass manufacturing which accounts for around 42% of the country's total investments. Hebei Yingxin Glass Group Company Limited (Hebei, China) has investments worth US$1 billion across six projects focused on the setting up facilities to manufacture photovoltaic glass, including plants in Jinzhong and Ordos. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can learn more by viewing by the related project reports.
Next is the U.S., with spending around US$6 billion in the glass market, majorly driven by technological advancements in glass manufacturing and growing need for sustainable building solutions.
Turkey is also investing substantially with US$1.56 billion across 21 projects majorly focused on setting up plants for manufacturing flat glass and glass containers.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
