The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

LONDON, July 19, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s research on the glass and glass products market forecasts the global glass and glass products market size to grow from $202.9 billion in 2022 to $216.2 billion in 2023 at a compound annual growth rate (CAGR) of more than 6%. The glass and glass products market size is then expected to reach $263.3 billion in 2027 at a CAGR of 5%. Asia-Pacific was the largest region in the glass and glass products market in 2022.

Learn More In-Depth On The Glass And Glass Products Market https://www.thebusinessresearchcompany.com/report/glass-and-glass-products-global-market-report

Solar energy demand is predicted to drive the growth of the glass and glass products market in the future. The conversion of sunlight into thermal or electrical energy is known as solar energy. It generates power, provides light or a warm indoor environment, and heats water for domestic, commercial, or industrial use. Glass is used in solar panels because it can convey sunlight without absorbing it; it functions as a mirror with a reflective coating on one or both sides to assist focus sunlight; and most solar panel glasses are tempered to withstand harsh weather conditions. According to a report issued in September 2022 by the International Energy Agency (IEA), a France-based autonomous intergovernmental agency, solar PV power output increased by 179 terawatt hours (TWh) in 2021, reaching 1,000 TWh, marking a 22% increase over 2020. Furthermore, by 2030, it is expected to reach an annual solar PV generation level of roughly 7,400 terawatt hours. As a result, the need for solar energy is propelling the glass and glass products industry forward.

Major players in the glass and glass products market are Guardian Industries Corp., Central Glass Co. Ltd., Nippon Sheet Glass Co. Ltd., Schott AG, ChinaGlass Holdings Ltd., Saint-Gobain S.A., Asahi Glass Company, Corning Incorporated, Vitro S.A.B. de C.V., Kyocera Corporation, CoorsTek Inc., Morgan Advanced Materials, AIS Glass, Cardinal Glass Industries Inc., and Dillmeier Glass Co.

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Product innovation is a prevalent trend in the glass and glass products sector. Major players in the glass and glass products markets are focusing on providing novel solutions to increase their market position. Vitro Architectural Glass (Vitro, S.A.B. de C.V.), a US-based glass manufacturer, for example, introduced VacuMax Vacuum Insulating Glass (VIG) in September 2021, which can be easily integrated into traditional and advanced glazing systems to provide high R-values and insulating performance. The new device features an 8.3mm tempered VIG unit composed of two totally tempered glass lites separated by a non-leaded metal seal and a vacuum void. Because of its thin shape and light weight, it may be fitted into almost any traditional glazing system or window frame. This product is unusual in that it has the potential to significantly improve the performance of any insulating glass unit by considerably increasing thermal efficiency, providing insulation performance that is two to four times that of regular insulating glass and six to ten times that of normal monolithic glass.

The global glass and glass products market is segmented by product type into tempered glass, laminated glass, basic float glass, insulating glass; by distribution channel into B2B (business-to-business), specialized stores, supermarkets or hypermarkets, e-commerce, other channels; by application into packaging, construction, transportation, electrical and electronics, telecommunication, other applications

Glass And Glass Products Global Market Report 2023 by The Business Research Company provides insights on the glass and glass products market size, glass and glass products market segments, glass and glass products market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.

The Business Research Company has published over 5,000+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

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