Container glass broadly refers to the glass used for the production of glass containers such as bottles, ampoules, jars, laboratory equipment, and bowls. In comparison to plastic containers, glass containers are safer, healthier, and recyclable. While plastic containers risk leaching chemicals into the contents within the container, glass containers are non-porous, non-reactive and reusable. The characteristics of glass containers are the main factors driving the growth of the container glass market at a global level.
The global container glass market is expected to reach a size of 65.4 Million Metric Tons (MMT) by 2020, growing at a compound annual growth rate (CAGR) of 3-4 percent, with the market value expected to reach $71 billion by 2022. The market is driven by an increase in the demand for alcoholic beverages in developing markets such as those in China and India.
Upcoming Trends In the Container Glass Market
The container glass market is set for steady growth in the upcoming years, especially with the decrease in the use of plastic containers. Here is an overview of the upcoming trends in the market:
Alcoholic Beverages: alcoholic beverages market, particularly for beer and wine, is expected to dominate the glass bottle market for the next 10 years, especially in the APAC, led by an increase in disposable income. Alcoholic beverages currently hold approximately more than 70 percent of the market share for container glass based on end-users. Beer consumption is expected to increase at a CAGR of 13-14 percent in India and at a CAGR of 7-8 percent in China.
Wider Applications: The pharmaceutical segment is projected to have the fastest market growth at a CAGR of 5-6 percent until 2022, driven by increased consumption of over-the-counter drugs. The cosmetics industry is another end-user segment for container glass which is expected to grow in … Read More...
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