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
                                      Source: Vertical IQ and Inforum

                                      Recent Developments

                                      Jan 30, 2024 - Glass Prices Rose in 2023
                                      • Producer prices for glass and glass product manufacturers rose 1.9% in 2023 after climbing 2.3% and 9.2% in 2022 and 2021, respectively. Spending on residential construction – a driver of demand for glass doors and windows and other glass products used in homebuilding – has declined from its peak in mid-2022. Employment by makers of glass and glass products fell through November, down nearly 1%. Sales for the US glass and glass product manufacturers industry are forecast to grow at a 2.25% compounded annual rate from 2023 to 2027, slower than the growth of the overall economy, according to the Interindustry Economic Research Fund.
                                      • 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.
                                      • High interest rates and tight credit are dampening spending on construction, according to Dodge Construction Network (DCN). Total construction starts fell 7% in October to a seasonally adjusted annual rate of $1.1 trillion, according to DCN. Nonbuilding and residential starts fell 32% and 1%, respectively. Conversely, nonresidential building starts gained 8% during the month. Year-to-date through October 2023, total construction starts were 4% behind 2022. Residential and nonresidential starts were down 15% and 7%, respectively; however, nonbuilding starts were up 20%. On a 12-month rolling basis, residential starts posted a 15% decline. The construction sector drives demand for glass.
                                      • 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.
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