The report "Industrial Gases-Glass Industry Market - Forecast to 2020", The market for industrial gases in the glass industry is projected to grow from USD 2.57 Billion in 2015 to reach USD 3.49 Billion by 2020, at an estimated CAGR of 6.29.
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The market for industrial gases in the glass industry is growing owing to the increasing applications of glass in the construction sector, growth in the glass packaging industry, and rising demand for energy-efficient glass production techniques. Growing demand from the automotive industry also provides an opportunity to the market to grow further, especially in the emerging Asia-Pacific and Latin American regions. However, the environmental impact of glass production, which affects human as well as aquatic lives, can act as a restraint to the growth of the market for industrial gases in the glass industry.
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Oxygen to gain maximum traction during the forecast period
Oxygen is a primary industrial gas required for any combustion process. New technologies such as oxygen-enhanced combustion and oxy-fuel combustion are based on oxygen. A slight increase in oxygen concentration of the combustion air results in the rise of flame temperature, improvement in heat transfer rates, and increase in the overall efficiency of combustion. Oxy-fuel combustion improves glass quality and also burns less fuel more efficiently. It reduces nitrous and CO2 emissions drastically, which helps in meeting the regulatory emission requirements. Thus, it is considered to be a sustainable technique for glass manufacturing. Apart from the manufacturing of glass, oxygen is also used in other functions such as melting, forming, polishing, and finishing of glass & glass products.
Asia-Pacific to play a key role in the market for industrial gases in the glass industry
On the basis of key regions, the market for industrial gases in the glass industry is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). The Asia-Pacific region held the largest share among all the regions in 2014. This is mainly due to emerging economies in China and India, coupled with growing applications of glass in the construction and automotive industries.
The scope of the report covers detailed information regarding the major factors influencing the growth of the market for industrial gases in the glass industry such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been conducted to provide insights into their business overview, products & services, key strategies, new product launches, mergers & acquisitions, partnerships, agreements, joint ventures, and recent developments associated with the market for industrial gases in the glass industry.
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