1 Global Glass Melt Furnace Value by Geography (2019-2024)
The market value in North America showed a decline from 291 M USD in 2019 to 214 M USD in 2020, likely due to the impact of the COVID-19 pandemic. However, it recovered and showed a steady increase in the following years, reaching 393 M USD in 2024, and the Europe market experienced a significant drop from 228 M USD in 2019 to 173 M USD in 2020. It then gradually recovered, with a notable increase in 2022, and is projected to reach 267 M USD by 2024.
Asia-Pacific has shown consistent growth over the years, starting at 278 M USD in 2019 and increasing to 429 M USD in 2024. The Asia-Pacific region’s market has been expanding, which could be attributed to the region’s growing industrialization and infrastructure development.
Table Global Glass Melt Furnace Value (M USD) by Geography (2019-2024)
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
North America | 291 | 214 | 266 | 328 | 358 | 393 |
Europe | 228 | 173 | 197 | 231 | 248 | 267 |
Asia-Pacific | 278 | 219 | 266 | 353 | 393 | 429 |
South America | 41 | 29 | 35 | 43 | 48 | 51 |
Middle East & Africa | 50 | 38 | 50 | 60 | 68 | 73 |
Total | 888 | 673 | 814 | 1015 | 1114 | 1213 |
2 Global Glass Melt Furnace Value Market Share by Regions in 2023
The largest segment, comprising 35.26% of the global glass melt furnace market, is the Asia-Pacific region, indicating a significant presence and growth potential in this area. Following is North America, which holds a substantial market share of 32.10%, reflecting a strong demand and established industrial base for glass melt furnaces.
Europe represents a notable portion of the market as well, with a 22.26% share, suggesting a well-developed market with a potential for further growth. The Middle East & Africa region accounts for 6.09% of the market, which could indicate emerging opportunities or specific niche applications for glass melt furnaces in these regions.
The data suggests a diverse global market with a concentration of activity in the Asia-Pacific and North American regions, while other regions also contribute to the overall market value, each with their own unique market dynamics and potential for development.
Figure Global Glass Melt Furnace Value Market Share by Regions in 2023
3 North America Glass Melt Furnace Market Size and Forecast (2019-2029)
In 2019, the North America glass melt furnace market value was at 290.7 M USD, followed by a significant decrease in 2020 to 214.1 M USD, which corresponds to a negative growth rate of -26.35%. This downturn could be attributed to the economic impact of the COVID-19 pandemic.
However, a robust recovery is observed in 2021 with the market value surging to 265.5 M USD, reflecting a positive growth rate of 24.03%. The upward trend continues into 2022 with a market value of 327.9 M USD, although the growth rate slightly decreases to 23.47%. The growth momentum persists into 2023, where the market value reaches 357.7 M USD with a growth rate of 9.10%.
Looking ahead to 2024, the market is projected to reach 393.2 M USD, indicating a steady growth rate of 9.92%. This consistent growth and recovery suggest a resilient market with a potential for continued expansion in the North American region. The data underscores the market’s ability to bounce back from adverse conditions and highlights the importance of the glass melt furnace sector in North America’s industrial landscape.
Figure North America Glass Melt Furnace Market Value (M USD) and Growth Rate (2019-2024)
Starting in 2024, the North America glass melt furnace market is projected at 393.2 M USD with a healthy growth rate of 9.92%. This positive trend is expected to continue into 2025, with the market value increasing to 427.3 M USD and the growth rate slightly decreasing to 8.67%. However, a notable dip is anticipated in 2026, where the market value is forecasted to be 444.7 M USD, but the growth rate drops to 4.07%. This could indicate a period of market consolidation or a slowdown in demand.
By 2029, the market is projected to reach 503.1 M USD, with a modest growth rate of 3.99%. Overall, the forecast indicates a robust market with fluctuations in growth rates, reflecting the dynamic nature of the industry and the impact of various economic and industrial factors on the glass melt furnace market in North America.
Figure North America Market Value (M USD) and Growth Rate Forecast (2024-2029)
4 Europe Glass Melt Furnace Value by Countries (2019-2024)
Germany stands out as a major player in the European market, with its value peaking at 48.3 M USD in 2019, experiencing a dip to 35.8 M USD in 2020, likely due to the COVID-19. However, it shows a robust recovery and is projected to reach 57.0 M USD by 2024, indicating a strong position and growth potential. The UK follows closely, with a market value of 44.9 M USD in 2019, a decrease to 32.6 M USD in 2020, and a projected increase to 45.6 M USD in 2024. This indicates a steady recovery and continued significance in the European market.
France, while not as dominant as Germany or the UK, still holds a substantial share, with a market value of 33.0 M USD in 2019, a slight dip in 2020, and a projected value of 40.5 M USD for 2024. And Russia also plays a significant role, with a market value of 27.4 M USD in 2019, a decrease to 20.4 M USD in 2020, and a projected increase to 33.4 M USD in 2024.
Table Europe Glass Melt Furnace Value (M USD) by Countries (2019-2024)
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
Germany | 48.3 | 35.8 | 41.2 | 48.5 | 52.7 | 57.0 |
UK | 44.9 | 32.6 | 36.2 | 41.4 | 43.0 | 45.6 |
France | 33.0 | 26.8 | 30.9 | 36.0 | 38.0 | 40.5 |
Italy | 22.6 | 17.4 | 19.6 | 23.1 | 25.1 | 27.4 |
Spain | 20.2 | 14.1 | 16.0 | 19.0 | 20.3 | 21.6 |
Russia | 27.4 | 20.4 | 23.4 | 27.4 | 30.4 | 33.4 |
Others | 31.5 | 25.8 | 30.1 | 35.4 | 38.6 | 41.6 |
Total | 227.9 | 172.7 | 197.4 | 230.8 | 248.1 | 267.1 |
5 Glass Melt Furnace Market Size by China VS Japan (2019-2024)
In 2019, the China market value was at 143.5 M USD, but it experienced a significant decline in 2020, dropping to 106.4 M USD, which corresponds to a negative growth rate of -25.83%. This decrease could be associated with the economic downturn caused by the COVID-19. However, a substantial recovery is observed in 2021, with the market value increasing to 129.4 M USD and the growth rate surging to 21.60%. The upward trend continues into 2022, where the market value reaches 188.3 M USD, and the growth rate peaks at 45.50%, indicating a period of rapid expansion.
The growth rate slows down to 15.10% in 2023, with the market value rising to 216.8 M USD, suggesting a continued but more moderate expansion. The forecast for 2024 projects a further increase in market value to 239.3 M USD, with the growth rate slightly decreasing to 10.38%.
Figure China Glass Melt Furnace Market Value (M USD) and Growth Rate (2019-2024)
Japan Glass Melt Furnace Market initiating at a value of 43.4 M USD in 2019, the market encountered a contraction to 35.1 M USD in 2020, marked by a stark negative growth rate of -19.30%, likely influenced by the global economic repercussions of the COVID-19. A pronounced resurgence is charted for 2021, with the market value escalating to 42.7 M USD, underpinned by a robust growth rate of 21.85%, signaling a robust recovery.
The ascent continues into 2022, achieving a market value of 53.3 M USD, while the growth rate soars to an impressive 24.94%, denoting a period of accelerated expansion. For 2023, a slight moderation in the growth rate to 6.45% is noted, with the market value climbing to 56.8 M USD, suggesting sustained growth albeit at a more tempered pace. The projection for 2024 anticipates a further uptick in market value to 60.2 M USD, paired with a growth rate of 6.01%, indicating a steady advancement in the market.
Figure Japan Glass Melt Furnace Market Value (M USD) and Growth Rate (2019-2024)
While both China and Japan’s glass melt furnace markets faced challenges in 2020, China’s market has shown a more dramatic recovery with higher growth rates and a larger market value. Japan’s market, while smaller, has demonstrated a steady recovery with moderate growth rates. Both are poised for further growth, reflecting resilience and potential in their respective regions.
6 Middle East and Africa Glass Melt Furnace Value by Countries (2019-2024)
In 2019, Saudi Arabia led the market with a value of 13.1 M USD, experiencing a dip to 9.5 M USD in 2020 before recovering to 12.2 M USD in 2021, and further increasing to 17.2 M USD by 2024. The UAE and Egypt also show a general upward trend, with the UAE rising from 7.8 M USD in 2019 to 11.5 M USD in 2024, and Egypt from 5.9 M USD to 9.0 M USD over the same period.
Nigeria and South Africa display more modest growth, with Nigeria’s market value rising from 4.0 M USD in 2019 to 6.2 M USD in 2024, and South Africa’s from 6.0 M USD to 9.7 M USD.
The total market value for Middle East and Africa exhibits a fluctuating but overall positive trajectory, starting at 50.1 M USD in 2019, dropping to 38.5 M USD in 2020, and then climbing to a projected 72.8 M USD by 2024.
Table Middle East and Africa Glass Melt Furnace Value (M USD) by Countries (2019-2024)
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
Saudi Arabia | 13.1 | 9.5 | 12.2 | 14.6 | 16.1 | 17.2 |
UAE | 7.8 | 6.3 | 8.1 | 9.6 | 10.9 | 11.5 |
Egypt | 5.9 | 4.8 | 6.2 | 7.6 | 8.4 | 9.0 |
Nigeria | 4.0 | 3.3 | 4.4 | 5.2 | 5.7 | 6.2 |
South Africa | 6.0 | 5.0 | 6.2 | 7.7 | 8.9 | 9.7 |
Others | 13.5 | 9.4 | 12.6 | 15.2 | 17.8 | 19.2 |
Total | 50.1 | 38.5 | 49.7 | 59.9 | 67.9 | 72.8 |
