LONDON--(BUSINESS WIRE)--The global industrial gases market for the glass industry is expected to post a CAGR of more than 4% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global industrial gases market size for the glass industry is the augmented demand for glass from the construction industry. The growth in global population has led to a significant increase in new construction activities across the world. This is driving the demand for glasses, which are used in windows for commercial and residential construction. The production of glass requires industrial gases such as oxygen, sulfur dioxide, krypton, carbon dioxide, oxides of nitrogen, silane, and hydrogen. Thus, the growth of the global construction industry is expected to fuel the industrial gases market growth for the glass industry during the forecast period.
As per Technavio, the recycling of glass waste materials in the glass manufacturing process will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global industrial gas market for glass industry 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global industrial gases market for glass industry: Recycling of glass waste materials in the glass manufacturing process
Glass manufacturers across the world are increasingly focusing on recycling broken waste glass in the glass manufacturing process. Broken waste glass can be melted and mixed with raw materials for new glass production. Moreover, manufacturers and glass associations are also encouraging the public to collect and recycle broken and waste glass. This will help in minimizing the glass content in landfills and reduce production cost. Further, it will directly contribute to the sustainability and low carbon initiatives and environmental protection.
“Apart from the rise in the recycling of glass waste materials in the glass manufacturing process, other factors such as the rising use of flexible glass in PV panels, and the growth of wearable technology will fuel the industrial gases market growth for glass industry during the forecast period,” says a senior analyst at Technavio.
Global Industrial Gases Market for Glass Industry: Segmentation Analysis
This market research report segments the global industrial gases market for glass industry by distribution channel (merchant liquid distribution, tonnage distribution, and cylinder and packaged distribution), gas type (nitrogen, oxygen, hydrogen, acetylene, and others) and geographic regions (APAC, Europe, North America, South America, and MEA).
The APAC led the industrial gases market for the glass industry in 2018, followed by Europe, North America, South America, and MEA respectively. The growth of the industrial gases market for the glass industry in APAC can be attributed to factors such as the rising industrialization and the increasing demand for industrial gases from the end-user industries such as construction, automotive, and food and beverage, which require glasses in huge volume.
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Five Forces Analysis
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- Vendors covered
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