The global glass processing equipment market to grow at a CAGR of 3.91% during the period 2017-2021.
Global Glass Processing Equipment Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
According to the report, one driver in the market is increasing demand for glass from construction industry. There has been a huge growth in the construction industry due to the rise in population and urbanization. To accommodate the needs of their increasing populations, governments worldwide are trying to establish new residential and commercial projects.
However, the growth in the construction industry will increase the demand for glass processing equipment as many new construction projects are using curtain walls instead of the traditional walls. Most of the demand for glass in the construction sector is attributed to the growing use of curtain walls.
One trend in the market is increase in green construction activities. Glass is used in construction mainly to lower costs and to ensure low energy consumption in buildings. Buildings that utilize green energy are called green buildings. Green construction thus includes the use of low e-glass, which is highly energy efficient and reduces carbon emissions.
Further, the report states that one challenge in the market is highly capital-intensive market. The global glass processing equipment market is a technologically developing sector, and it requires constant investment in R&D for the development of new products according to changing needs.
Materials such as iron and steel, aluminum, stainless steel, titanium, brass, copper, and other alloys are necessary to manufacture glass processing machinery. The fluctuations in raw material prices disrupt the pricing strategy of glass processing equipment manufacturers.