Glass & Glass Product Manufacturers
Industry Profile Report
Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters
Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.
Call Preparation Call Prep Questions, Industry Terms, and Weblinks.
Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.
Industry Profile Excerpts
Industry Overview
The 1,350 glass manufacturers in the US produce glass products, including flat glass, containers, glassware, housewares, and specialty glass, and process glass via coating, laminating, tempering, and shaping to give the glass specified or regulated properties. The industry is concentrated with the 20 largest firms controlling 65% of revenue.
Volatile Energy Costs
Fluctuations in the price of natural gas and other fuels can have a significant impact on the energy-dependent glass industry’s operating costs.
Recycled Raw Materials
Manufacturers can use cullet (recycled glass) to make new glass products while reducing their energy costs and emissions.
Industry size & Structure
A typical glass and glass product manufacturer operates out of a single location, employs 65 workers, and generates about $19.5 million annually.
- The glass and glass product manufacturing industry consists of about 1,350 companies that employ more than 82,200 workers and generate about $26.4 billion annually.
- The average manufacturer of other blown or pressed glass operates out of a single location, employs about 32 workers, and generates $9 million annually.
- The average container manufacturer operates out of 1-2 locations, employs about 183 workers, and generates about $121 million annually.
- The industry is concentrated with the 20 largest firms controlling 65% of revenue.
- About 63% of establishments have fewer than 20 employees.
- Large US companies include O-I Glass, Owens Corning, Libbey, Anchor Hocking, Apogee, and American Fiber Green Products.
Industry Forecast
Glass & Glass Product Manufacturers Industry Growth
Recent Developments
Mar 30, 2024 - Employment Fell, Prices Rose in 2023
- Employment by glass and glass product manufacturers fell 2.7% in December compared to a year ago after rising by 4.3% in the previous annual comparison, according to the US Bureau of Labor Statistics. Producer prices for glass and glass product manufacturers, which had largely been climbing throughout 2021 and 2022, peaked in February but then began to ease. Still, the producer price index for glass and glass product manufacturers was up 4.71% in December compared to a year ago, per the BLS.
- Manufacturers of glass and glass products are facing an acute labor shortage, which only looks to get worse, Glass Magazine wrote in February. “Labor is the number one challenge for fabricators, glaziers, and full-service glass companies," says Jenni Chase, VP of Workforce Development for the National Glass Association, adding "It is the biggest pain point for the glass industry,” Moreover, the construction and manufacturing industries are also facing a chronic labor shortage. Construction will need half a million workers on top of the normal hiring rate to keep up with labor demand in 2024, and again in 2025, per the Associated Builders and Contractors. A study by Deloitte and the National Association of Manufacturing reports that the ongoing shortage of skilled labor could lead to 2.1 million unfilled jobs by 2030. Recognizing the severity of the labor shortage, the NGA has added Workforce Development to its organizational goals.
- Architectural billings – a leading indicator of construction activity – predict a solid year for the construction market in 2024, albeit a slower rate of growth than in 2023. According to the American Institute of Architects (AIA), overall gains in construction spending are projected at just under 6%, with almost 3% for the commercial sector, 15% for industrial facilities, and 4% for institutional buildings. Commercial construction will continue to benefit from the billions of dollars in infrastructure investment from the Inflation Reduction Act and the CHIPS and Science Act that are still working their way into the economy. While final numbers for 2023 aren’t in yet, total construction spending in 2023 is forecast at $1,960 billion, an increase of 6.0% over 2022 with nonresidential spending leading that growth, Contractor Magazine reports. Demand for glass windows and doors is driven by construction activity.
- Fueled by growing demand from the beverage and pharmaceutical industries, the global glass container market is predicted to increase at a compound annual growth rate (CAGR) of 4% to 5% between 2022 and 2026, reaching around 800 billion units, according to market intelligence firm Beroe Consulting. Beer and other alcoholic beverages are major markets where demand is expected to rise. Specifically, the wine and spirits market, which is projected to grow at a CAGR of 3% to 5% over the next five years, likely will be the primary driver of post-pandemic consumption. Moreover, a rebound in economic activity and the development of bars and restaurants are expected to increase demand for glass bottles, particularly in developed markets like the US and Europe, where consumers' consumption habits for beverages have not significantly changed, according to Beroe.
Get A Demo
Vertical IQ’s Industry Intelligence Platform
See for yourself why over 60,000 users trust Vertical IQ for their industry research and call preparation needs. Our easy-to-digest industry insights save call preparation time and help differentiate you from the competition.
Build valuable, lasting relationships by having smarter conversations -
check out Vertical IQ today.