Industry Archives

July 4, 2018

Polyethylene Wax Market to achieve 3.5% CAGR over 2018 to 2024 from Packaging applications

Global PVC market estimated to exceed a valuation of 55 million tons by 2024, in terms of volume, Polyethylene Wax Market is deemed to witness substantial gains over the coming years. Add to it, increasing construction spending especially across APAC belt has tremendously upscaled PVC demand, leaving a parallel impact on the regional polyethylene wax market.

Boasting of an all-encompassing application landscape including packaging, candles, and plastics additives & lubricants sectors, polyethylene wax market, is poised to carve a profitable roadmap over the ensuing years. Polyethylene waxes are basically low molecular weight polymers, widely utilized for improving the process properties and parameters of finished products closely linked to plastic industry. It therefore comes as no surprise that changing polyethylene wax industry trends are meticulously hinged to the massive growth in plastic sector.

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For the records, world plastics production, in the year 2016, was almost around 335 million metric tons, and has witnessed an estimated CAGR of 8.6% over 1950-2015. In fact, over 9 billion tons of plastic has been produced since 1950, claim reliable sources. Quite vividly evident from the aforementioned statistics, plastic industry has witnessed a paramount upswing over the years, subsequently opening up a plethora of new opportunities for polyethylene wax industry players.

Having said that, it is imperative to mention that the competitive hierarchy of polyethylene wax market is rather consolidated, with few large-scale manufacturers having procured almost 50% of the global share in 2016. These giants, as it is observed lately, have been readily inclining toward integrating their operational capabilities throughout the supply chain model of the product ecosystem, in a bid to stronghold their presence in the global business space. For instance, renowned biggies like SCG Chemicals and Westlake Corporation, have not limited their production facilities to PE wax, but also PVC, given the fact that these lubricants are extensively deployed in polyvinylchloride production.

Already having witnessed a percentage of authority in the global polyethylene wax industry share, Asia Pacific undoubtedly stands as one of the most opportunistic avenues for overall business growth. In fact, as claimed by Global Market Insights, Inc., the belt covered almost 30% of the overall market in terms of volume in 2016. The massive scope that APAC Polyethylene wax market holds in terms of growth mainly grounds on the fact that the region has shown immense growth in construction, automotive, and food sectors over the past few years. The region, for instance, accounted for almost 35% of the overall construction spending in 2016, and is likely to cover nearly 60% of the global share by 2025.

Inherently stimulated by the fact that PVCs have been increasingly replacing traditional building materials on grounds of its cost effectiveness and versatility, APAC polyethylene wax industry size is slated to generate a substantial momentum in the coming timeframe. Add to it, the expansive automotive sector is also claimed to be another pivotal factor complementing the business growth.

The controlled molecular weight and narrow poly disparity of PE wax provide diverse benefits such as low melt viscosity, narrow melt range and formulating flexibility.

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July 3, 2018

Aerospace Coatings Market by Technology (Solvent Based Coatings, Water Based Coatings, Powder Coatings)2018-2024

One of the eyepopping spectacular scoop in Aerospace Coatings Market place is UDRI’s contract with the United States Air Force Department. The University of Dayton Research Institute, has been recently awarded a contract worth of USD 1.5 million to evaluate and deliver innovative advanced aerospace coatings for turbine engine parts.

Reportedly, this USD 1.5 million agreement stems from UD’s seven-year contract with U.S. Air Force worth over USD 40 million, targeting environmentally viable and energy efficient technologies for Air Force equipment. While UDRI has always been one of the few renowned names in aerospace coatings industry whose contribution has been phenomenal, being awarded with such a prospective contract by USAF is certainly a news to be reckoned with, claim experts.

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Powered by a barrage of tech benefactors, aerospace coatings market has witnessed remarkable proceeds across a host of aviation fraternities including the likes of military, space, commercial etc. Even a few years back, the application significance of these coatings was deemed to be limited to protection and aesthetic appearance improvement. However, with technological proliferations and subsequent complexity in the aviation industry, the requirement of advanced coatings endorsed with features like faster drying time, lightweight, increased durability, and unique color styling has upscaled tremendously.

These ongoing developments and technological adoption in product designing is expected to conveniently help aerospace coatings industry to establish itself as a remunerative business space over the coming years. This is apparently quite vivid from the estimates by Global Market Insights, Inc. which claims aerospace coatings industry size to surpass the billion-dollar frontier by 2024.

The strategic landscape of aerospace coatings market is chronicled to be rather consolidated with renowned giants like Mankiewicz, PPG Industries, Akzo Nobel NV, Merck Performance, and BASF, procuring almost 50% of the global share. Amidst the intense share battle, product innovations via R&D investments is claimed to be one of the major parameters justifying the sustainability quotient of aerospace coatings industry participants.

In this regard, experts believe, developing economies can prove to be opportunistic investment spots for the market players, pertaining to the supply demand gap in these regions. All in all, with technological advancements in nanoparticle-based coatings and manufacturers’ constant effort in bringing cost effective solutions, the revenue graph of aerospace coatings market is sure to ascend over the ensuing years.

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May 18, 2018

Coated Glass Market trends research and projections for 2017- 2024

In order to achieve revenue benefits and capture more business space, most of the players in Coated Glass Market are focusing on increasing productivity by minimizing manufacturing time and improving product quality. In this regard, they are increasingly deploying automated systems for enhancing the glass fabrication process. Research and development activities are also rampant across this business space to bring forth a range of highly innovative products.

For instance, recently, the researchers of VanadiumCorp Resource Inc., have developed an innovative, energy saving smart glass comprising vanadium as a coating material that saves more energy by restricting IR radiations from the sun to enter into building and preventing loss of heat during the winter season. This vanadium coated glass offers numerous benefits such as anti-glare, energy saving, and self-cleaning capability.

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In the current scenario, well-known automakers have also been planning to deploy new technologies in vehicles in order to attract more customers. Recently, the Israeli start-up technology company, Gauzy has developed smart glass for displaying videos on car windows. It can play targeted localized information and will be used for smart messaging. Furthermore, the leading German automaker, Daimler AG has also collaborated with Gauzy for installing transparent displays on car windows.

This newly developed advanced smart glass will help automakers serve futuristic technology to their customers. The ongoing revolution brewing in the automotive sector with the growing acceptance of smart glasses is slated to stimulate coated glass industry share. As of now, in order to combat the challenges posed by global warming, many regional governments, mainly across the Asia-Pacific have been undertaking numerous initiatives to adopt sustainable technologies.

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For instance, the Singapore government has decided to increase energy efficiency with the deployment of smart-tinting windows across residential as well as commercial sectors. Currently, it is planning to install smart glass on nearly 12 buildings by 2021, as smart tinting windows can reduce at least 20% of the energy consumption of every building. The increasing popularity of tinting windows for minimizing the load on HVAC systems of buildings is poised to propel coated glass industry share over the years ahead.

The massive tech-based developments in industry are likely to have a significant impact on the overall industry trends. The increasing acceptance of energy efficient smart technologies and the unwavering commitment of regional governments toward carbon reduction, energy savings, and sustainability are also slated to commendably boost the product demand. If estimates are to be believed, coated glass market size, by the end of 2024, will surpass a valuation of USD 24.5 billion.

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May 14, 2018

Advanced Glass Market expects 10.5 billion square meters consumption by 2024

India Advanced Glass Market size from solar control glass applications is likely to register growth close to 5.5% during the projected timespan. These products permit sunlight to pass through them, but restricting the solar heat inside the building. Shift in consumer preference towards sustainable energy resources along with reduction in air-conditioning environment of offices and other commercial buildings to save energy will boost advanced glass market demand in the country.

With the increasing application scope for glass across the electronics, residential, automotive, and commercial sectors, advanced glass market giants have lately been fortunate enough to have access to a plethora of lucrative growth opportunities. They have in fact, been prominently developing a variety of high quality and innovative glass products in order to consolidate their presence in this business space. In addition, to further expand their reach, companies have been adopting growth strategies such as mergers and acquisitions. The recent acquisition of TGP by Allegion is an instance of the efforts undertaken by the leading players of advanced glass market.

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Elaborating further on the aforementioned deal, the leading security products and solutions supplier, Allegion, acquired the North American manufacturer of advanced fire frames, Technical Glass Products (TGP), to primarily extend its reach across North America. The deal has also helped Allegion gain access to TGP’s integrity and innovative ideology. Furthermore, it is imperative to mention that regional governmental bodies have also been playing a pivotal role in increasing advanced glass industry size. For instance, in order to curb carbon dioxide emissions, several regional governments have already deployed a stringent regulatory framework to promote the construction of energy-efficient buildings.

Since last few years, advanced glass market has witnessed the launch of a slew of very interesting and innovative products. The launch of Gorilla Glass is one of the remarkable examples that depicts the continuous research undertaken toward new product development. This product is a next generation, scratch resistance, tough, and highly flexible glass. In fact, currently, many of the electronics and smartphone manufacturers preferably choosing Gorilla glass for their devices. This product offers numerous benefits over other materials like plastic and metal. The increasing adoption of advanced versions of glass by consumer electronics manufacturers is indeed poised to boost advanced glass industry share over the years ahead.

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Speaking along similar lines, a few years ago, the Internet behemoth Google developed augmented reality (AR) based glasses, which garnered mass popularity no sooner than its release. Currently, the large-scale deployment of AR in everyday activities has also considerably transformed advanced glass market outlook. The American audio equipment manufacturer, Bose Incorporation has recently unveiled its plan to develop AR based glasses as well, and has launched its prototype of AR wearables, which comprise motion sensors. In another instance, the American multinational technology company, Vuzix has also developed smart glasses and is looking forward to launching advanced version of wearables for future generation. Initiatives such as the aforementioned are certain to augment advanced glass market size.

The shifting trends toward miniaturization of several electronics equipment are fueling the requirement for highly precise structured glass. In this regard, many players in advanced glass market are adopting new innovative technologies to develop versatile and highly accurate glass wafers. Moreover, some of the companies are focusing on inventions of light solutions for interiors of automobiles and aircraft. For instance, glass manufacturing company, AGC Glass Europe has developed an innovative solution for luxury car roofs. Presently, this light control glass has been installed in Daimler’s Mercedes S-Class model. The notable benefits of this glass include resistance to overheating and UV light, which are significantly attracting other giants in automotive sector. The ongoing research in glass technology for thin film and transparent structure for automotive applications is slated to stimulate advanced glass market outlook.

Heavy investments in research and development activities are likely to strengthen the commercialization potential of advanced glass market. The launch of next-generation wearable glasses and its increasing popularity among the masses will also have a favorable impact on the overall industry expansion. Indeed, the escalating adoption of smartphones and other electronics devices is certain to impel advanced glass market size, forecast to exceed USD 110 billion by 2024.

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March 13, 2018March 13, 2018

Analysis of Aseptic Packaging Market applications and company’s active in the industry

Aseptic Packaging Market, in recent years, has come to thrive as a rather profitable business space, owing to the increasing demands for processed and packaged food and disposable healthcare instruments like vials and prefilled syringes. With hectic work schedules and changing lifestyles around the globe, packaged food is steadily replacing home-cooked meals, a trend that has given a boost to the packaged food and beverages industry, indirectly propelling aseptic packaging market share. It is also prudent to mention that dual income households have led to consumers willing to pay more for healthier food packages, which would indeed provide a positive impetus to aseptic packaging industry size, estimated to register a 9.9% CAGR up to 2024.

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The term ‘aseptic’ can be translated to mean the exclusion of any unwanted organisms from a typical food or pharmaceutical product. The aseptic process of packaging uses flash pasteurization and sterile packing of the product ensuring its lasting freshness and shelf stability. Aseptic packages are treated to withstand 127°C and 100°C for high and low acid products respectively, making them perfect containers for dairy and pharmaceutical products, inherently impelling aseptic packaging market.

Aseptic Packaging Market worth is estimated to be over USD 70 billion by 2024, driven by the huge demand from the food processing and packaging sectors. The demand for nutrient value retention, less per unit product cost, and uniform product quality have emerged as driving forces for aseptic packaging industry. Furthermore, these products facilitate easy dispensing and disposal and help combat the BPA (bisphenol A) controversy, which would substantially drive aseptic packaging market share over 2017-2024.

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The product landscape of aseptic packaging market comprises cartons, bottles, vials, ampoules and pre-filled syringes. Bottles and cartons among these, are particularly deployed in the packaged food industry, the biggest end-user of the aseptic packaging market, which is appraised to witness 8% CAGR over 2017-2024. Emerging economies as well as developed nations are likely to contribute toward the growth of the packaged food domain, given the soaring demand for pre-packaged and ready-to-eat food worldwide. In consequence, aseptic packaging industry share from cartons has been forecast to attain the biggest share by 2024, with a CAGR anticipation of 9% over the forthcoming seven years. This growth projection can primarily be attributed to increasingly widespread use of aseptic cartons for packing dairy products as well as high acid content beverages.

It is prudent to mention that aseptic packaging keeps these products fresher and preserves their original taste without the requirement of added preservatives. The desirability of consuming something that is unadulterated by preservatives has a greater appeal and benefit for the consumers. Thus, aseptic packaging industry has been gaining prominence due to increasing public awareness regarding the consumption of aseptic packaged food as opposed to food packed in cheap plastic containers. Given that governments around the globe are also in favor of aseptic carton packs owing to their recyclable and eco-friendly nature, aseptic packaging market share has been gaining mass appeal lately.

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Consumers have always depicted greater preference for novel and practical packaging designs as far as food & beverage products are concerned. Recently Tetra Pak, the aseptic packaging industry giant, launched the aseptic bottle called Tetra Evero. The biodegradable nature of this bottle combined with the aspects of new design, enhanced hygiene and food safety and increased longevity of food is likely to greatly attract customers to try out the product. The longer shelf life of the packaging is one of the key reasons why Tetra’s products fare better in Europe, since European homes and supermarkets have smaller refrigeration areas than their North American counterparts.

Asia Pacific had been leading the aseptic packaging market in 2016, while its shares are expected to surpass USD 25 billion by 2024. Owing to rapid urbanization, advent of supermarkets and increasing proportion of the female workforce in countries like India and China, pre-packaged and ready-to-cook foods have gained mass popularity in APAC. The demand for foreign foods in local markets is also contributing to the growth of the aseptic packaging market in the region, state experts. Furthermore, the changing consumer preferences in countries like Indonesia and Australia will also help augment this business space across APAC.

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March 12, 2018

Analysis of Respiratory Protective Equipment Market applications and company’s active in the industry

According to Global Market Insights, Inc., Respiratory Protective Equipment Market to reach USD 5.5 billion in 2016, will surpass a valuation of USD 9 billion by the end of 2024. The profitability landscape of the overall industry is quite conspicuous from the rapid industrialization across major economies.

Boasting a wide application scope in industries like chemical, manufacturing, metal fabrication, textile, and pulp & paper with regards to maintaining workplace safety, overall respiratory protective equipment market share from industrial applications carved a lucrative growth in 2016. In addition, a strict regulatory framework further adds a remarkable momentum to the overall industry trends.

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Countries under the Asia Pacific belt have made hefty investments in industrial projects over the past few years. Estimates claim that, with China at the forefront, Asia Pacific is expected to cover 60% of global infrastructural spending by 2025. Considering the strong pipeline of industrial projects spanning across India, Japan, China, it can be grounded that APAC will prove to be one of the lucrative avenues for respiratory protective equipment market. Statistics further validating the fact – APAC respiratory protective equipment industry size is expected to witness a CAGR of 8% over 2017-2024.

The growth curve of Respiratory Protective Equipment market is forecast to be positively high in the coming years, given the rising number of regulatory initiations by international bodies like OSHA, NIOSH, and ILO with regards to employee safety and workplace procedures. Speaking of potential opportunities of respiratory protective equipment industry, it is nothing but massive. The increasing rate of occupational respiratory disorders quite evidently validates the fact. As per a recent report put forth by Health and Safety Executive, there are approximately around 12000 causalities every year resulting from occupational respiratory diseases. The report further declares that two third of this massive fraction are primarily due to COPD or asbestos-related diseases. As per estimates, every year, there are around 14000 new cases respiratory related problems, reportedly, originates due to long-hour of work in hazardous environment. These statistics certainly demonstrate the lucrative possibilities for respiratory protective equipment market in the coming years

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Regionally, North America has also established strong grounds enhancing the respiratory protective equipment industry. Estimates depict that the regional respiratory protective equipment industry size exceeded the billion-dollar benchmark in 2016, by attaining a valuation of USD 1.5 billion. The growth can primarily be credited to the expanding healthcare sector where the products experience extensive penetration in order to maintain environmental sanitation during critical health conditions.

Speaking of product landscape, supplied air respirator procured a sizable portion of the overall respiratory protective equipment industry in 2016, having collected a revenue of USD 3.9 billion. Supplied air respiratory protective equipment are extensively deployed across domains which are more prone to contaminated toxic environment and lack cleaner air, subject to the fact that these devices are mainly used for delivering breathable air at minimal pressure. Supplied air respiratory protective equipment market is further bifurcated into airline respirators and SCBA (self-contained breathing apparatus), where the latter is mainly deployed in oxygen deficient environment. Firefighting professionals utilize these equipment for life-saving operations during emergency situations.

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Worldwide, respiratory protective equipment industry encompasses a host of renowned companies including Honeywell International, 3M, Bullard, Gerson, Delta Plus, ILC Dover, Intech Safety, Alpha Pro Tech, RSG Safety, and Kimberley Clark. The business space seems to be quite competitive with leading giants’ rigorous efforts of sustaining their business position by adopting various growth strategies like mergers and acquisitions and product differentiation. To cite a recent instance, 3M, one of the formidable players in respiratory protective equipment market, has recently inked a strategic collaboration with Johnson Controls by acquiring Scott Safety, a renowned manufacturer of self-control detection system, flame detection devices, for a valuation of USD 2 billion. Experts claim, through this deal, 3M aims to strengthen its portfolio in the personal protective equipment market, unsurprisingly leaving a subsequent impact on respiratory protective equipment market. The lucrative investments by the leading giants in this fraternity coupled with a stringent regulatory framework with regards to worker safety, respiratory protective equipment industry is sure to witness remarkable proceeds in the coming years, with an estimated CAGR of 7.2% over 2017-2024.

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February 28, 2018

Textile Coatings Market trends research and projections for 2017- 2024

Covestro’s recent product launch demonstrates the company’s immense contribution toward Textile Coatings Industry. Elaborating further, Covestro recently introduced a new kind of polyurethane raw material dubbed Baymedix®, that finds applications in wound dressing and healing processes. Deploying textile coatings to manufacture medical furniture coatings, bandages, surgical wear, and hospital bed linen has always remained at the center stage of the firm’s material development plans, the Baymedix launch being a pivotal instance of the same.

Covestro had recently demonstrated the application of Baymedix® across waterborne textile coatings and non-latex cohesive bandages at the INDEX^TM 17 trade fair held in Geneva in April 2017. Experts state that having witnessed the product’s exceptional performance, other companies are likely to follow suit and bring about innovations in their product line, which would undeniably propel textile coatings market size in the years ahead.

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In a key breakthrough witnessed across textile coatings market, Umbra Applied Technologies Group (UATG), a new entrant in the textile industry, has planned to introduce a new product line – Hygieia that has been touted to be the future of smart textiles. Foraying into the smart textile sector is certain to help the firm expand its presence across the smart technology business space in addition to the textile coatings industry.

Another textile market giant – the Cordura Brand of Invista, has collaborated with DuPont Tate & Lyle Bio Products LLC to manufacture eco-friendly fabrics. The new durable fabric is likely to attract footwear, textile, and gear designers subject to the fact that the fabric constitutes high performing coatings and membranes. This collaboration is thus, likely to open new growth avenues for the prospective deal participants, in addition to bringing about a dynamic change in textile coatings market.

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Textile coatings find myriad applications in the production of hygiene textiles, sports clothing, protective clothing, and barrier textile. Silicone based elastomeric coatings are extensively used to coat nylon fabrics, industrial textiles, fiberglass, and polyester clothes. Today, silicone based coatings have found widespread applications in textiles with their ability to offer protection against ultraviolet radiations, heat, mechanical stress, and fire. With their high insulating features, the products have become highly popular across welding blankets, insulation panels, and personal protective equipment (PPE) market, creating a massive spectrum of avenues for textile coatings industry.

A recent research study unearthed by a group of European researchers depicts the use of graphene to coat textiles and make them conductive. Apparently, this has been perfected by converting thermoplastic monofilament fabric fibers into conducting ones through a graphene coat. This breakthrough is expected to open a new platform for creating integrated electronic equipment that can be directed into the fabrics. This coating technology is bound to bring about a transformative trend in textile coatings market in the near future, state experts.

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U.S. textile coatings market, on the other hand, is expected to be driven essentially by product innovations. The region has been depicting prominent growth in the clothing and home furnishings sectors, which would subsequently impel the profitability landscape of U.S. textile coatings market, slated to grow at a CAGR of 4.5% over 2017-2024.

The competitive hierarchy of textile coatings industry is remnant of renowned biggies such as Clariant AG, Huntsman International LLC, Covestro AG, Omnova Solutions Incorporation, Royal DSM AG, BASF SE, and Lubrizol Corporation. It would be prudent to mention that the aforementioned firms are expected to make notable contributions toward textile coatings market in the forthcoming years and beyond, that would substantially impel the business landscape. Endowed with widespread application and technology spectrums, textile coatings market size is expected to be pegged at USD 7.5 billion by 2024.

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February 27, 2018February 27, 2018

Analysis of Eyewear Market applications and company’s active in the industry

The Global Eyewear Market size is predicted to touch $ USD 110 billion in 2016 and is set to Cross 1.3 billion units by 2024.

Growing proportion of sight deficiencies and increasing geriatric population are predicted to stimulate the global eyewear market in future. Demand for corrective lenses like spectacles and contact lenses are predicted to grow due to growing consciousness regarding the significance of regular inspections/checks. The high proportion of renewed lenses owing to consistent replacements and changes in lens treatment is predicted to propel the growth of the global market during forecasted period. Rise in disposable incomes, growing consciousness among the people about eye protection and growing purchasing capacity of the people is yet another key driving aspect predicted to fuel the growth of the global industry during anticipated period. In addition to this, fast growing eye wear support along with rising proportion of presbyopes is the biggest factor promoting the growth of the market.

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But the growing amount of refractive surgical operations like LASIK is a key inhibiting factor hindering the growth of the global market as it removes the individual dependence on corrective eyewear treatment. LASIK surgeries can affect the sale of corrective lenses during the estimated period. Further, there is a high level of consciousness about LASIK surgical operations among the people as they are becoming more cost effective for large amount of population. This is predicted to be a key aspect restraining the growth of the market. But in emerging economies, these refractive surgical operations are still not cheaper for many customers and so they prefer eyewear like spectacles or contact lenses to refractive surgeries like LASIK.

Increasing modernization and rapid shift in lifestyles of the people are the factors predicted to drive the growth of the market during forecasted period. The growth of online trading and rising popularity of disposable lenses are also predicted to be main market growth drivers. Growing occurrences of ophthalmic disorders driven by lifestyle shifts have promoted the market growth. The growing proportion of individuals using eyewear for correcting or overcoming sight problems is the biggest aspect stimulating the industry growth.

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The global eyewear market product is segmented into spectacles lenses, spectacles, Plano sunglasses, spectacles frames, polarized sunglasses and contact lenses.

Spectacles section leads the product segment of the global market. It also dominated the product segment of industry in 2011 by contributing maximum market share. The section is also projected to exhibit widespread development during forecasted period. Growing number of persons using spectacles for sight correction is one of the main reasons contributing for the growth of the section.

The contact lenses section is predicted to display enormous growth during forecasted span owing to growing consciousness about the use of these products and due to its user friendly features.

Spectacles lenses and frames section led the product segment of the market in 2012. The demand for the lenses & frames is predicted to remain in future.

Plano sunglasses section is predicted to expand substantially during forecasted period. The demand for high end sun glasses is the main aspect adding to the high revenue growth of this section.

The global market is segmented into North American subcontinent, European continent, APAC zone and rest of the world.

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The North American subcontinent led the market in 2012 in terms of demand. High demand for products like contact lenses and sunglasses in the subcontinent along with high level of consciousness about eye examinations were the key factors driving the growth of the eyewear market in North America.

Europe led the global market for 2012 in terms of revenue. High demand for sunglasses and high awareness levels about eye checkups are key factors driving the growth of market in Europe.

Customers going for UV coatings, scratch resistant coatings and antireflective coatings are predicted to fuel the demand and growth of the market in the regions of Europe and North America.

The market of APAC zone is predicted to expand rapidly during forecasted period. The factors adding to the growth of the market in APAC zone include growing purchasing capacity of the people, rising use of eye wear and increase in density of population in the regions of the APAC zone.

Key industry players are implementing different business growth strategies like efficient distribution channels and vertical integration to increase their profit margins, gain maximum market share, gain competitive advantage and grow their business.

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February 22, 2018

Analysis of Textile Coatings Market applications and company’s active in the industry

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February 21, 2018

Glass Packaging Market report for 2024 – Companies, applications, products and more

The worldwide Glass Packaging Market stood at USD 45 billion in 2016 and is anticipated to exceed a valuation of USD 65 billion by 2024, growing at an annual rate of 4.5% over 2017-2024. Over the past few decades, global glass packaging industry has provided the pharmaceutical and food & beverage sectors with remarkable innovations in their packaging solutions. Glass is a 100% recyclable product that can be reused without any deprivation in the quality or the purity of the material. Owing to its negligible chemical interaction rate, glass has for long been a favorite material category used in packaging of medicines and other beverages.

The very recent collaboration between Merck, Pfizer, and Corning Inc., has significantly accelerated the innovation trends in the pharmaceutical glass packaging market. Once such breakthrough by Corning in glass container & packaging is Valor Glass engineered for the storage and conveyance of advanced injectable drugs.

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Valor Glass packaging exhibits superior strength, damage resistance, chemical durability, and higher levels of quality assurance which is fueling its demand in the medical fraternity. With regards to the aforementioned factors, healthcare sector can rightly be termed as one of the leading drivers for the expansion of glass packaging industry. As per estimates, glass packaging market share from pharmaceutical applications is anticipated to record a CAGR of more than 4% over 2017-2024.

Alcoholic beverage is set to emerge as a key sector generating lucrative avenues for the global glass packaging industry, having procured a major chunk of the total demand over the past few years. Another chief factor stimulating the glass packaging demand is the rise in global consumption of beer. As dark shade glass helps in deflecting the UV rays and keeps the beer from being ‘skunky’, glass bottles are most commonly used in the packaging of beer. Easy availability, cost effectiveness, and influence of western lifestyle have increased the consumption of beer particularly in Mexico and Vietnam recording the highest increase of 6.5% and 7.5% respectively form 2014-2015.

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Eastern Europe and Asia Pacific are the two prominent regions spectating a significant rise in the consumption of alcoholic beverages and pharmaceuticals. Subject to this fact, glass packaging industry is expected to show robust growth in these regions over the coming years. As stated by the report on glass packaging market, Asia Pacific represented the largest market worldwide, closely followed by Europe. Asia Pacific accounted for more than 40% of the overall glass packaging market in 2016, subject to huge customer base and growing hospitality sector in China, India, Thailand, and other countries.

One of the largest threats faced by glass packaging industry is the growth of plastic pouch packaging. Factors such as less brittleness, light weight, and easy handling & transport of plastics pouches is likely to make a dent in glass packaging market share. However, proliferation of various technological breakthroughs in the glass packaging industry has allowed the products to become much lighter in weight and easy for transportation. Moreover, despite the increasing popularity of plastic packaging materials, customers are preferring highly sustainable products with high grade of recyclability, on account of which glass is still the most preferred packaging material.

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According to a 2006 national consumer survey report, by Glass Packaging Institute, consumers prefer glass over variety of packaging materials, in terms of purity, quality, taste, shelf life, and product protection.

Taking into consideration the competitive landscape, prominent glass packaging industry players are emphasizing on strategic collaborations and acquisitions to gain a competitive edge in the fiercely competitive scenario. Being a highly-fragmented industry, many companies are also expanding their production capabilities and portfolios incorporating novel & customized shapes and sizes to enhance their customer base. In 2013, Saxco International, LLC., a prominent market leader delivering rigid packaging solutions for liquor, craft beer, and wine acquired Synergy Glass & Packaging to customize its glass packaging solutions and expand its customer base. Other prominent industry players include Saint-Gobain, Gerresheimer AG, Owens-Illinois Inc, Vetropack Holding AG, Ardagh Group S.A., Hindustan National Glass (HNG), Piramal, Stölzle-Oberglas GmbH and Nihon Yamamura Glass Co., Ltd.

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