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Glass Processing Equipment Market Segmented By type such as Machinery for cutting glass, Machinery for breaking glass, Glass-grinding machine, Glass drilling machine with application in Food & Beverage, Construction, Automotive, Consumer Electronics and Furniture
Glass is a traditional packaging material and has undergone continuous innovation and reinvention. Glass processing equipment is extensively utilized in several end-use sectors, for instance, automotive, consumer electronics, construction, food & beverages, and other sectors. The global processing equipment market shows impressive growth prospects during the forecast period.
Growing construction projects are utilizing curtain walls as an alternative to the traditional walls. Technological progressions have further led to the modification of the attributes of glass particularly based on strength and weight, which has escalated large-scale application and demand for glass in the construction industry and consecutively boosted sales of glass processing equipment.
Glass packaging is widely preferred by the food & beverage industry across geographies. The glass packaging does not get contaminated with the product since it does not trigger any chemical reaction with the product inside and keeps its safety, flavor brilliance, and freshness.
The market is also gaining traction as various glass packaging plants are setting up glass processing equipment which will further help them to reuse and redesign new packaging.
Furthermore due to glass packaging’s eco-friendly nature manufacturers are increasingly employing glass processing equipment in the facilities. Major raw materials utilized in the manufacturing process are limestone, sand, and soda ash.
Manufacturers of soft drinks are moving from glass to paper packaging, which will hamper the market growth in the coming years.
Fluctuating raw material costs is anticipated to negatively affect the worldwide glass processing equipment market. The cost of silicon is unstable at the worldwide level which limits the development of the glass processing equipment market.
The COVID-19 pandemic has put a strain on packaging companies as individuals strictly following stay at home orders. The glass processing equipment market has been experiencing a supply-demand gap at the onset of the crisis.
Manufacturing units are confronting short terms operations delays as fewer employees have access to the sites. However, gradually, market players will be rethinking their business strategies to stay afloat amid the crisis, while ensuring safety and health in the industrial sites.
South Asia and East Asia is the main contributor to the global glass processing equipment market over the assessment period, 2020-2030. Rising application of glass in several products comprising chemicals, pharmaceuticals, food & beverages, and others is growing rapidly in nations like India and China. This, in turn, boosts the market growth in the Asian region.
North America and Europe will be accounting for gaining a substantial share in the global market as a result of the growing consumption of wine and beer. Furthermore, both the regions are home to pioneers of the glass processing equipment market.
Major companies operating in the worldwide market includes OCMI-OTG, Glaston OYJ Abp, HEGLA GmbH & Co. KG, CMS Glass Machinery, Conzzeta Management, Biesse Group, Bottero Glass Technologies, BENTELER International, Siemens AG, LandGlass Technology, and IGE Glass Technologies.
Manufacturers are focusing on developing machinery with advanced technology that can diminish the entire processing time. Moreover, manufacturers are engaging in mergers and acquisitions to boost their global footprint. For instance,
GMMP (GMM Pfaudler) entered into an agreement with De Dietrich Process Systems India to take over their Glass Lined Equipment manufacturing unit at Hyderabad. The acquisition will help GMMP access to ready-made Glass Lined Equipment production capacity which will further boost its existence in the region.
Siemens launched SIMOTICS-S 1FK7 servo motor and SINAMICS S120 drive system to offer higher precision and reliability solutions while manufacturing flat glass.
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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.