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 1,400 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 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

The average glass and glass product manufacturer employs 46-47 workers and generates $19 million annually.

    • The average flat glass manufacturer operates out of a single location, employs about 92 workers, and generates about $43 million 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 glass manufacturing industry consists of about 1,400 firms that employ about 78,800 workers and generate about $27.6 billion 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 Owens-Illinois, Owens Corning, Libbey, Anchor Hocking, Apogee, and American Fiber Green Products.
                                      Industry Forecast
                                      Glass & Glass Product Manufacturers Industry Growth
                                      Source: Vertical IQ and Inforum

                                      Recent Developments

                                      Mar 30, 2023 - Billings Fall at Architecture Firms
                                      • Architecture firm billings in February remained soft for the fifth consecutive month, according to the American Institute of Architects' latest Architecture Billings Index. But while overall billings have declined every month since October 2022, the pace of the decline remains relatively modest and hasn’t accelerated dramatically, Glass Magazine reports. The modest dip in billings could indicate a shorter slowdown at firms, rather than a more dramatic downturn and full-blown recession. Moreover, inquiries into new projects continued to grow at a steady pace in February, as did the value of newly-signed design contracts – signaling a future pickup in demand for architectural glass and glass building products. Softness in billings was pervasive at firms across most of the US in February, with firms in the West reporting very minor growth, while firms located in all other regions saw billings decline.
                                      • Rising interest rates and the strong US dollar are putting the US manufacturing sector at risk, The Wall Street Journal reported in March. New orders for manufactured goods shrank for the sixth consecutive month in February, according to surveys by the Institute for Supply Management. Also, manufacturing output is down 1.7% from its post-pandemic peak in May 2022, according to a three-month moving average of Federal Reserve data, WSJ reports. The Fed’s aggressive interest rate hikes are raising the cost of borrowing – making machinery purchases more expensive – while the strong dollar is depressing US exports. “As the Fed continues to hike, manufacturing is going to be in the crosshairs,” Jonathan Millar, senior US economist at Barclays PLC told WSJ. “It’s hard to see this sector not suffer some sort of a downturn that is more significant than what we’ve seen already.”
                                      • 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.
                                      • Decreasing mortgage rates are fueling gains in home builder confidence, HBS Dealer reported in February. Builder confidence in the market for newly-built single-family homes increased 7 points to 42, according to the National Association of Home Builders/Wells Fargo Housing Index (HMI), released in mid-February. February marked the second consecutive month of gains in builder confidence, according to NAHB. “With the largest monthly increase for builder sentiment since June 2013, the HMI indicates that incremental gains for housing affordability have the ability to price-in buyers to the market,” said NAHB Chairman Alicia Huey. While the February HMI reflects growing optimism, the NAHB notes that builders continue to battle high construction costs and supply chain issues when it comes to materials. Homebuilding activity drives demand for glass windows and doors, skylights, glass blocks among other products.
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