Global Glass Mold Market to Surpass US$ 1,042.0 Million by 2027 – Coherent Market Insights

SEATTLE–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/AlloyCastIronMold?src=hash” target=”_blank”gt;#AlloyCastIronMoldlt;/agt;–The global glass mold market was valued at US$ 802.5 million in 2018,
and is projected to exhibit a CAGR of 3.0% over the forecast period
(2019–2027), in terms of revenue.

Key Trends and Analysis of the Glass Mold Market:

The glass mold market is expected to witness substantial growth over the
forecast period. This is owing to increasing demand for glass molds from
various end-use industries such as food & beverage, healthcare, and
others. Increasing use of glass for manufacturing of durable products is
also expected to aid in growth of the market.

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Demand for glass bottles is especially high for packaging of alcoholic
beverages, resulting in rampant growth of the glass molding industry.
This in turn is expected to aid in growth of the market. Moreover, glass
is a preferred option for packaging especially in the beverage industry,
as it is nonporous and impermeable, thus reducing the interaction
between glass packaging and product which could otherwise affect the
flavor of beverages. The use of glass molds in the beverage industry is
increasing significantly.

Major players in the market are focused on adopting various business
strategies to expand their product portfolio and enhance their market
share. For instance, Taiwanese company JCL Engineering PTE Ltd. uses the
latest CAD/CAM and CNC machine technologies, including CNC machine
center, CNC mill/turn, CNC-EDM, ECM, HSM (CNC- High Speed Milling) in
order to improve the lifespan, and precision of its glass molds with the
help of better designing.

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Key Market Takeaways:

  • The global glass mold market is expected to exhibit a CAGR of 3.0%
    during the forecast period in terms of revenue. The market growth is
    driven by increasing use of glass molds in various end-use industries
    such as the chemical industry. In chemical industries, production of
    lab-ware for research & development activities, and bottles for
    storing chemicals are the main applications of glass molds.
  • Among regions, Asia Pacific is expected to witness major market share
    over the forecast period, owing to increasing demand for food &
    beverages products, and high usage of glass molds in manufacturing
    packaging components. Therefore, significant growth in food and
    beverage industry is expected to boost glass mold market in Asia
    Pacific region during the forecast period. Moreover, glass molds are
    used in manufacturing glass packaging products such as bottles for
    alcoholic and non-alcoholic beverages, jars & containers for spices,
    baby foods, and other food product.
  • Some of the major players operating in the global 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.

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About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting
firm offering action-ready syndicated research reports, custom market
analysis, consulting services, and competitive analysis through various
recommendations related to emerging market trends, technologies, and
potential absolute dollar opportunity.

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Author: dmnnewswire