According to the latest market study released by Technavio, the non-metallic minerals market in Bosnia and Herzegovina is expected to grow at a CAGR of close to 5% during the forecast period.
This research report provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Glass and glass-based products market in Bosnia and Herzegovina
In 2015, in terms of revenue, the glass and glass-based products segment accounted for a 45% share of the non-metallic minerals market in Bosnia and Herzegovina. The glass manufacturing industry in Europe is substantial in terms of volume and revenue. Bosnia and Herzegovina is expected to benefit from its proximity to the EU, as the EU accounts for the largest share in the global glass market, in terms of volume and revenue.
“Manufacturers in the glass and glass-based products segment are focusing on exports to the EU and other countries in the West because of low domestic demand, and this drop in domestic demand has led to low utilization of production capacities in the country. For instance, Rama Glas, a key producer of glass in the country, is focusing on export markets in the EU and the Americas for growth,” says Chandrakumar Badala Jaganathan, a lead analyst at Technavio for research on metals and minerals.
The report also categorizes the glass and glass-based products segment into the following: tempered safety glass, multiple-walled insulating glass, framed and non-framed glass mirrors, and other glass and glass-based products.
The report covers stone and clay-based building products and other non-metallic minerals.
Other non-metallic minerals market in Bosnia and Herzegovina
The construction sector, specifically the residential segment, is a major contributor to the growth of the other non-metallic minerals market. Refractory, porcelain, and ceramic products are some of the major end products. Ceramic products are likely to witness the strongest demand during the forecast period due to the entry of an increasing number of manufacturers in this segment. Demand for ceramic products is also likely to increase due to characteristics such as thermal non-conductivity, which makes it an ideal material in the construction industry, as it provides insulation from thermal changes in the environment, thereby enhancing the energy-efficiency of buildings.
Some of the top vendors highlighted by Technavio’s research analysts in this report are:
•Elker Ljubija (part of Inving Group)
•Fabrika cementa Lukavac (part of Asamer Group)
More information is available at www.technavio.com