Increasing Demand for Glass Packaging Products Drives Growth in the Global Glass Mold Market to 2030
Jun 27, 2023
DUBLIN, Aug. 1, 2023 /PRNewswire/ -- The "Glass Mold Market, By Mold Type, By End use Industry, and By Region - Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
This report provides in-depth analysis of the glass mold market and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2023 - 2030), considering 2022 as the base year.
Glass is used for manufacturing bottles, containers, vials, syringes, and ampoules among others. Glass molds play an important role in the manufacturing of glass products such as ampoules, syringes and vials. Glass is preferred for these application as it tends to not react with the contents that are present in the package, thereby maintaining the life of the chemical or medicine. Hence, manufacturers are looking at glass packing solutions to improve the shelf life of the product.
Increasing demand for glass products such as jars, glass accessories, and glass lab-wares for application in various end use industries such as chemical, food & beverages, healthcare, consumer electronics, and cosmetics. Therefore, a significant increase in demand for glass wares is expected to boost the glass mold market during the forecast period. Demand for glass bottles is especially high for packaging alcoholic beverages, resulting in the rampant growth of the glass molding industry. According to the Glass Packaging Institute, beer was the largest segment for glass bottles, representing nearly 57% of the total market in 2016 in the U.S.
Among End use industries, the chemical segment is expected to account for a significant market share in the global glass mold market. In 2022, the segment accounted for a 17% share of the global glass mold market in terms of revenue. Beakers, cylinders, colored & clear bottles, flasks, burettes, pipettes, and various other lab-wares have extensive demand in chemical industries. In addition to lab wares, amber glass bottles, and jars are used for storing light-sensitive chemicals to maintain the quality of chemicals.
Among regions, in 2022, Latin America held a dominant position in the global glass mold market, in terms of revenue share. This is owing to the increasing demand for glass packaging products. Asia Pacific is expected to record the fastest growth in the market over the forecast period. This is owing to the increasing demand for glass mold products and the growth of the healthcare sector. According to India Brand Equity Foundation, India's healthcare sector generated a revenue of US$ 110 billion in 2016, and is expected to reach US$ 372 billion by 2022.
Omco International N.V.
Changshu Weiheng Mould Manufacture Co. Ltd.
Changshu Jianhua Mould Technology Co. Ltd.
Rayotek Scientific Inc.
Jinggong Mould Manufacturing Co. Ltd.
Rochester Precision Optics LLC.
Razi Glass Group
Kopp Glass Inc.
G. M. Engineers & Fabricators Private Limited
Slumpy's -The Glass Mold Company
Key features of the study:
It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategy adopted by key players
It profiles key players in the global glass mold market based on the following parameters - company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
Insights from this report would allow marketers and management authorities of the companies to make informed decisions regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
The global glass mold market report caters to various stakeholders in this industry including investors, suppliers, glass mold manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the glass mold market
By Mold Type:
Alloy Cast Iron
Ordinary Cast Iron
By End use Industry:
Food & Beverages
Rest of Latin America
Rest of Europe
Rest of Asia Pacific
Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/m8ay2j
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