Glass Mold Market Growth Size is Estimated to Grow at Incredible CAGR till 2027

Posted January 3, 2022 by neha_s

Glass is used in for manufacturing bottles, containers, vials, syringes, and ampoules among others. Glass molds play an important role in manufacturing of glass products such as ampoules, syringes and vials
Glass is used in for manufacturing bottles, containers, vials, syringes, and ampoules among others. Glass molds play an important role in manufacturing of glass products such as ampoules, syringes and vials. Glass is preferred for these application as it tends to not react with the contents that are present in the package, thereby maintaining the life of the chemical or medicine. Hence, manufacturers are looking at glass packing solutions to improve the shelf life of the product.
Increasing demand for glass products such as jars, glass accessories, and glass lab-wares for application in various end-use industries such as chemical, food & beverages, healthcare, consumer electronics, and cosmetics. Therefore, significant increase in demand of glass wares is expected to boost glass mold market during the forecast period. Demand for glass bottles is especially high for packaging of alcoholic beverages, resulting in rampant growth of the glass molding industry. According to the Glass Packaging Institute, beer was the largest segment for glass bottles, representing nearly 57% of the total market in 2016 in the U.S.
Market Dynamics
Among end-use industries, the chemical segment is expected to account for significant market share in the global glass mold market. In 2018, the segment accounted for 13.7% share in the global glass mold market in terms of revenue. Beakers, cylinders, colored & clear bottles, flasks, burettes, pipettes, and various other lab-wares have extensive demand in chemical industries. In addition to lab-wares, amber glass bottles and jars are used for storing light sensitive chemicals in order to maintain quality of chemicals.
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Market Outlook
The global glass mold market was valued at US$ 802.5 million in 2018, and is expected to register a CAGR of 3.0% in terms of revenue over the forecast period (2019 – 2027), to reach US$ 1,042.0 million by 2027.
North America accounted for the largest market share in the global glass mold market in 2018, due to favorable growth of the pharmaceutical industry in the region. According to International Trade Association, pharmaceuticals is one of the largest, R&D intensive industries in the U.S. The research-based industry invests over 15-20% of the total revenue generated on R&D per year (over US$ 50 Billion in 2016). Moreover, total sales of pharmaceuticals in Canada are expected to increase to US$ 20.3 billion by 2020.
Key players in Glass Mold Market
Major players operating in the glass mold market include, Omco International N.V., Changshu Weiheng Mould Manufacture Co. Ltd., Changshu Jianhua Mould Technology Co. Ltd., Rayotek Scientific Inc., Jinggong Mould Manufacturing Co. Ltd., Rochester Precision Optics LLC., Razi Glass Group, Kopp Glass Inc., G. M. Engineers & Fabricators Private Limited, Slumpy's -The Glass Mold Company, and others.
Detailed Segmentation:
• Global Glass mold Market, By Mold Type:
◦ Alloy Cast Iron
◦ Ordinary Cast Iron
◦ Others
• Global Glass mold Market, By End-use Industry:
◦ Chemical
◦ Food & Beverages
◦ Healthcare
◦ Others

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Last Updated January 3, 2022