It has been estimated that glass manufacturing market is set to record an annual valuation of USD 320 billion over the span of 2019 to 2026, given the escalating use of glass for various applications across industries like packaging, automobiles, electronics, and construction.
In a bid to reduce the expanding CO2 emission levels produced by plastic packaging, various industries have been raising demand for glass packaging. And in this regard, to fulfill the mounting demand for glass production, several industrial conglomerates have been going nine yards for production of various specialty glasses, flat glasses, and other types of glasses.
Recently, Canadian Premium Sand, Inc., (CPS), had announced its plans of focusing on transforming its silica sand deposit, Wanipigow into a coating and sustainable float glass manufacturing unit in the Manitoba area of Canada. As per news reports, the facility is likely to emphasize on the sustainability initiatives including waste heat recovery and optimizing use of the area’s copious and highly economical renewable electricity to put forth new standards for low-carbon emission glass production.
This move comes on the heels of float glass manufacturing’s rising prominence and potential applications worldwide. It would be crucial to note that float glass manufacturing has demonstrated better project economics and market stability compared to Wanipigow proppant production, stimulating the growth curve of glass manufacturing industry.
Citing yet another instance, India’s leading glass packaging producer and supplier- HSIL India, had in 2020 declared investing Rs 320 crore to establish a new specialty glass manufacturing facility in the Telangana province. Reports have it that the company’s new glass production facility will pose a manufacturing capacity of 150 tons per day and is likely to include one new furnace with 5 manufacturing lines spread across 15 acres. In line with this novel initiative, HSIL would also invest Rs 220 crores in AGI Glaspac to build specialty glass and greenfield facility, which is anticipated to be in operation by 2022.
Across the packaging industry, glass is largely being used in myriad food and pharmaceutical packaging sectors. One of the leading benefits of use of glass in such applications is that the product boasts the property of being chemically inert and also standing as a safer option than plastic substitutes. Moreover, glasses can also be recycled indefinitely and pose an unlimited recyclable potential, making them an ideal option for food and beverage storage material. That said, the packaging segment across glass manufacturing industry is set to accrue a fair share of 35% in the overall business space.
Let alone the packaging industry, new construction and an upsurge in renovation and remodeling activities in the current infrastructure coupled with the expanding real estate industry is promoting higher growth trajectory for the glass product demand. Besides, it would be pivotal to note that Asia Pacific had, in 2018, sized a business share of 40% in glass manufacturing business, driven by the elevating consumption of glass in electronics and telecommunication devices and equipment.
Elaborating further on the regional landscape, the Middle East and Africa glass manufacturing market is projected to observe stellar growth over the foreseeable time frame. In fact, economies like UAE and Saudi Arabia are increasingly investing in infrastructural development to drive the national economy.
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