Transparency Market
Research delivers the key insights on the container
glass market in
its published report, titled “Container Glass Market: Global
Industry Analysis and Opportunity Assessment, 2018–2026”. In
terms of revenue, the global container glass market is estimated to
expand at a CAGR of 5.0% during the forecast period, owing to
numerous factors, about which TMR offers thorough insights and
forecast in this report.
The large pharmaceutical
industry of the U.S. to drive the demand for container glass in the
country
The U.S. is not only the largest
market for pharmaceuticals and leading in terms of pharmaceutical
research & development expenditure, but also one of the leading
producer of pharmaceuticals in the world. As container glass is
highly preferred for packaging of pharmaceuticals, the large
pharmaceutical industry of the U.S. is one of the primary drivers of
container glass market in the North America region. The research &
development on pharmaceuticals has also led to a large variety of
container glass materials and packaging solutions.
The alcoholic beverage
industry of Africa to propel the container glass market in the MEA
region
Sub-Sahara African countries in
the MEA region are estimated to account for around 40% of the MEA
container glass market in terms of volume in 2018. This is
prominently due to the large production of beer and other alcoholic
beverages in the region which is further projected to witness a rise
during the forecast period.
Moreover, the pharmaceutical
industry of GCC countries is rapidly growing. Among individual
countries of the MEA region, South Africa is estimated to hold the
highest market share, followed by Turkey. The significant presence of
packaging companies in South Africa is majorly responsible for its
dominance in the MEA region.
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Europe is estimated to be
the leader in the global container glass market in terms of value,
while the Asia Pacific is estimated to hold the highest share in the
global container glass market by volume
The cost of manufacturing of
container glass in Europe is relatively high, primarily due to high
labour costs in the region. On the other hand, the manufacturing cost
of container glass is significantly low in the Asia Pacific region.
The Asia Pacific region accounts for the highest demand for packaging
in the world, which lead to the highest demand for container glass in
the region in terms of volume. Thus, the Asia Pacific region is
dominating the global container glass market in terms of volume,
while the economic availability of container glass in the region has
resulted into a low container glass market volume share as compared
to that of the Europe region.
Majority of the demand for
container glass in the Asia Pacific region is served by the
relatively unorganised manufacturing industry established in the
region which provides container glass at economic prices to compete
with the global container glass market leaders operating in the
region and target low out-put end-users.
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