Glass Mold Market
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.
Market Dynamics
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.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
* Browse 39 market data tables* and 27 figures* on "Glass Mold Market” - Global forecast to 2030.
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