Glass Manufacturing Market Trends

Growth Drivers

• Rising government and private investments - With the lucrative global population coupled with the augmenting economies, there is also a significant increase in infrastructural and constructional investments by both government and private organizations. According to the World Bank estimates, private participation in infrastructure (PPI) investments in 2023 accounted for USD 86 billion.
• Increasing application in several industries - There is a high usage of glass material in various sectors such as automotive, construction, IT & telecom, electronics, and many more, as glass can be used for several purposes such as windows, glass fiber optics, and many more.
• Increase in disposable income - There has been a growth in disposable income which is attributed to the growing need for comfort in residential buildings, automobiles, and many more. According to a report by the Office for National Statistics in 2023, the gross disposable household income (GDHI) in 2021 increased by 3.6% when compared to 2020 in the UK. Moreover, there has been growth in residential housing which fuels the demand for this sector.
• Growing urbanization - Urbanization has been considered one of the major driving forces for the glass manufacturing industry owing to the building of residential and commercial infrastructure, among many others. As per the European Commission’s Joint Research Center (JRC) 2023 estimates, around 44.7% of the world’s population is projected to be living in cities by 2025.
  
  Additionally, urbanization has also led to an increasing focus on aesthetics and design, which has created a surge in the market demand for glass products that are not only functional but also visually appealing.

Challenges

• The requirement of skilled professionals to act as a major challenge - Glass manufacturing requires a person with specialized training because errors can result in dangerous circumstances, as while operating the machine, employees must be appropriately outfitted. Replaceable particulate filter respirators and head and body protective gear are a few examples of preventive equipment. If the worker exhibits any neglect in adhering to the procedure, there is a tremendous risk to their health.
   
• Major obstacles include cost and availability, particularly in areas with restricted access to high-quality silica sand and other inputs. The production of glass might be less sustainable and more costly, driven by its high energy usage. The business is also impacted by substitute materials like plastics and composites, which have advantages like reduced weight and expense.