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.
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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.
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.
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