Research and Markets has released its report on the Global Glass Containers Market
Research and Markets has released its report on the Global Glass Containers Market, which covers regions and vendors, market trends and forecasts, in the period 2016-2022.
Research and Markets’ report on the Global Glass Containers Market covers the glass container market production and demand, showing market drivers, prices and fluctuations.
Glass containers are made using limestone, soda ash, sand as raw materials These products can be completely recycled and thus are a preferred source of packaging material for many end use industries. Common processes for the manufacture of glass containers include Blow and Blow process and Press and Blow while the recent innovative processes are Narrow Neck Press and Blow, and Advanced Blow and Blow processes.
The annual production of glass containers was 51.42 MMT in 2016 and is estimated to reach 62.95 MMT by 2022 growing at a rate of 3.43%. From the demand side, the glass containers market was 52.89 billion USD in 2016 and is forecasted to reach 66 billion USD by 2022 at a CAGR of 3.76% for the period.
The glass container market was led by APAC region with a market share of 35% closely followed by Europe in 2016. Moreover, APAC is the fastest growing market for the forecasted period making it the region of focus for the glass container suppliers. Alcoholic beverages industry lead the glass container market with around half of the market share in 2016. These products are being the preferred source of packaging over plastic containers as a result of its advantages.
Factors such as growing end use industries market, sustainability, and industry trends such as light weight products are driving the market while factors like fluctuations in raw material prices, logistics are hindering the growth of the market.
Tempered glass bottles jointly developed by Vetropack and Emhart are expected to hit the market in the 1st half of 2017. The success of this project will significantly change the dynamics of the industry.
The main companies in Europe are Owens-Illinois, Ardagh, Verallia, Vidrala, Bormioli, Vetropack and Gerresheimer. Glass bottles industry is a consolidated market with top 6 companies holding the crux of the market share. The industry is striving on bringing in innovations to the products making them more eco-friendly and customer preferable. Light weighting – an important industry trend, resulted in reduction of glass bottles weight by 40% over the past decade. The industry is witnessing a lot of mergers and acquisitions, consolidation of the companies to be able to compete in the market.