The Glass Product Manufacturing in the US Industry Market Research Report from IBISWorld Has Been Updated
Los Angeles, CA (PRWEB) September 28, 2013 -- Glass products are used in a variety of applications across the construction, manufacturing, agriculture, automotive, telecommunications, hospitality and household markets. The industry's four main product categories include flat glass, pressed or blown glass, glass containers (e.g. bottles and jars) and glass products made from purchased glass (e.g. mirrors, lighting and kitchenware). “Industry sales steadily declined since the late 1990s, but this trend accelerated due to a drop in construction activity and consumer spending following the recession,” according to IBISWorld Industry Analyst Stephen Morea. As a result, revenue declined at an estimated annualized rate of 1.0% to $24.0 billion during the five years to 2013.
The steady contraction in the domestic glass manufacturing industry is also the result of imports capturing a greater share of the domestic market and partly due to the substitution of glass container products by alternative packaging materials like aluminum cans and extruded plastic bottles. Low demand and weak financial performances have led to industry consolidation; the number of industry enterprises is expected to decrease at an annualized rate of 0.9% in the five years to 2013. “Mergers and acquisitions have been an effective way for firms to take advantage of economies of scale in the manufacturing process and decrease the level of internal competition,” says Morea.
In 2013, revenue is expected to increase 2.9% to $24.0 billion as the industry benefits from the recovery in residential and commercial construction markets and a boost in consumer spending. However, growth in the Glass Product Manufacturing industry will still be limited by persistent product substitution and import penetration.
For more information, visit IBISWorld’s Glass Product Manufacturing in the US industry report page.
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IBISWorld industry Report Key Topics
Firms in the Glass Product Manufacturing industry produce a wide range of glass products by melting silica sand or cullet and fabricating purchased glass. The industry comprises four segments: flat glass manufacturing (including laminated glass); pressed or blown glass and glassware; glass container manufacturing (including bottles and jars); and product manufacturing from purchased glass, which includes lighting, mirrors, architectural glass and electronic glassware.
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About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.
Gavin Smith, IBISWorld, +1 (310) 866-5042, [email protected]
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