As per Future Market Insights, the glass forming machine market is anticipated to attain a value pool of US$ 270 billion by 2023 end. Global demand for glass forming machines is expected to rise at a CAGR of 4.8% to US$ 430 billion in 2033.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 270 billion |
| Projected Market Value in 2033 | US$ 430 billion |
| Growth Rate (2023 to 2033) | 4.8% CAGR |
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The growing construction industry is a prominent driver of the glass forming machine market. The construction industry is a major consumer of glass products, with glass used in the production of windows, doors, facades, and partitions. As the construction industry continues to grow, the demand for glass products is also expected to increase, which will drive the demand for glass forming machines. The construction industry is expected to grow in the coming years due to increasing urbanization, population growth, and the need for new infrastructure.
The automotive industry is also an eminent driver of the glass forming machine market. The automotive industry uses glass extensively in the production of windshields, windows, and mirrors. As the demand for automobiles continues to rise, the demand for glass products is also expected to increase, which will drive the demand for glass forming machines. The automotive industry is expected to grow in the coming years due to increasing population, rising disposable incomes, and increasing urbanization.
The packaging industry is also a significant driver of the glass forming machine market. Glass is widely used in the production of packaging products, including bottles and jars. As the demand for packaged goods continues to increase, the demand for glass products is also expected to rise, which will drive the demand for glass forming machines. The packaging industry is expected to grow in the coming years due to the increasing demand for packaged goods.
The glass forming machine market is seeing several latest trends that are expected to have a significant impact on the market growth in the coming years. Among the significant trends is the adoption of automation and Industry 4.0 technologies in glass manufacturing. This involves the integration of IoT, artificial intelligence, and machine learning to make the manufacturing process more efficient and cost-effective. Automation can help reduce labour costs, increase production efficiency, and minimize errors and defects in the glass forming process. With the increasing demand for high-quality glass products, the adoption of automation and Industry 4.0 technologies is expected to continue to rise in the glass forming machine market.
Among the latest trends in the glass forming machine market is the growing focus on sustainable and eco-friendly glass manufacturing. There is an increasing demand for sustainable products, and the glass industry is no exception. Glass manufacturers are looking for ways to reduce their carbon footprint and adopt eco-friendlier manufacturing processes. This involves using renewable energy sources, minimizing waste, and reducing the use of harmful chemicals in the production process. The adoption of sustainable practices is expected to drive the demand for sustainable glass forming machines, which are designed to minimize environmental impact.
The use of 3D printing technology in glass manufacturing is also a significant trend in the glass forming machine market. 3D printing can produce intricate and complex glass shapes with precision and accuracy. This technology can also reduce waste, as it can produce glass products with minimal material waste. While 3D printing in glass manufacturing is still in its early stages, it is expected to become increasingly popular in the coming years, particularly for customized glass products.
Demand for glass forming equipment will witness steady growth in short-term, with optimistic growth outlook in the long-run. Muted demand from chemical industry will mean limited opportunities in near future, however, sales of forming machinery for food & beverages sector will provide momentum.
Principal Consultant
Surfacing end-use demand for glass products or containers for various end use applications will continues to drive demand for the device. Food & beverage industry applications continue to be a lucrative avenue for glass forming manufacturers.
The most extensively used forming machine arrangement is the individual section machine or IS machine in glass manufacturing. Sales of manufacturing machine go through a robust demand, which has remained a longstanding trial for manufacturers.
The traditional glass products such as tableware, containers, tubes and rods, flat glass, and fiberglass are formed of glass made by the melting process has significantly changed with the adoption of glass forming machine and growing with the implementation of new technology to machinery.
This is especially true in the production of large volumes of glass products and that can significantly improve the machinery sales. The forming machinery is being increasingly sought-after due to their production property.
Glass forming machine is also used extensively in manufacturing high volumes of glass products for end use industries. Although lockdown and shelter-at-home guidelines have meant restricted production activities, sales are likely to improve over the course of the assessment period.
Though manufacturing sector been impacted by COVID-19-induced slowdown. The growth of food & beverage industry has been unabated with the continual investments and related production thereby sustaining the growth of glass forming machine market. Personal Care products industry is also expected to benefit the market growth.
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China is one of the prominent markets for glass manufacturing globally. The China glass forming machine market is set to tread on the steady growth path during the assessment period 2021 to 2031. Demand is likely to remain muted in the next couple of years, as a number of end-use industries make gradual recovery.
Demand for glass forming machine in China will be led by food & beverage, chemical, and laboratory sectors. China will account for high demand for the manufacturing machines, as demand for forming glass products continues over the forecast period. Chain’s glass exports is likely to surge drastically over a period and beyond, and this will continue to benefit glass forming equipment companies.
China glass forming sales will also be impacted by the COVID-19 recovery in 2021. Glass manufacturers faces a challenging year, however, there is growing optimism that low mortgage rates will lead to a spurt in early 2022. The momentum is likely to hold ground, which will provide an impetus to a range of glass raw material (sand, soda ash and limestone), including machinery.
Many countries in EU have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities. EU hold major share in the world glass exports, which in turn continues to drive demand for glass forming machine.
Despite the COVID-19 challenges, most European countries have maintained a steady growth in production and exports in 2020. Germany, Italy, and France are the major prominent players in Europe region, creating opportunities for raw material and machinery suppliers.
Some of the leading manufacturers and suppliers of glass forming machine include
In 2018, Glasproduktions-Service GmbH (GPS) and Siemens, has a partner on board that can help set new standards of IS machine control systems. The GPS can rely on proven, advanced, and compact hardware and monitoring system for it IS machines. The result of the innovative coalition between GPS software and Siemens hardware is a system that not only works together efficiently.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
Technology
September 2022
REP-AP-180
250 pages
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Glass Forming Machine Market
