Glass Mold Market, By Mold Type, End-use Industry & Region - Forecast to 2019-2027
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.
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Among regions, in 2018, Latin America held dominant position in the global glass mold market, in terms of revenue share. This is owing to an increasing demand of glass packaging products. Asia Pacific is expected to record fastest growth in the market over the forecast period. This is owing to increasing demand for glass mold products and growth of the healthcare sector. According to India Brand Equity Foundation, India healthcare sector generated a revenue of US$ 110 billion in 2016, and is expected to reach US$ 372 billion by 2022.
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Last Update : Oct 18, 2019
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