Market Size of Thailand Container Glass Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.12 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Thailand Container Glass Market Analysis
The Thailand container glass market is expected to grow at a CAGR of 3.12% during the forecast period, 2022-2027. The ongoing demand for convenient packaging and increased demand from end-user industries drive the container glass market.
- The Thailand glass industry provides a range of glass packaging products for food and beverage and perfumery, cosmetics, and pharmacy to their customers.
- Companies in the region are continuously looking to expand their production capacity due to the customers' rising demands. For instance, in August 2021, BG Container Glass (BGC) announced its plans to spend 2.7 billion baht, expanding its production capacity. Capacity at its glass factories is expected to increase by 12% to 3,935 tons a day, up from 3,495 tons.
- The new rules for sustainability and recyclability in the region are also prominent factors pushing the growth of glass packaging. The government of Thailand plans to develop a plastic waste recycling system that will follow circular economy principles. The project will start in 2022 to achieve 100% recycling of targeted plastic waste by 2027.
- Thailand generates approximately 2 million tons of waste every year, and the recycling capacity as of July 2021 is only 25%. To achieve the zero plastic waste by 2027, the government has approved a draft plan to manage plastic waste by banning four types of products by 2022, which include plastic bags with a thickness of fewer than 36 microns, foam containers for foods, plastic beverage cups with a thickness of fewer than 100 microns, and plastic straws. These rules and regulations are expected to drive the growth of the glass market.
- Further, glass bottles and containers are majorly used in the non-alcoholic and alcoholic beverage industry because of their ability to maintain sterility, chemical inertness, and non-permeability. The inert nature of the glass material makes it suitable for storing food, and hence it is extensively used to store jam, jellies, oil, and other food products.
- The ongoing war between Russia and Ukraine has restricted many companies in the market from making investments. For instance, in May 2022, BGC announced to reconsider its business plans, including a new glass melting furnace development project, because of the higher energy and raw materials prices.
