The market size of flat glass processing machinery will grow by USD 301.3 million from 2021 to 2026. According to Technavio's latest market report, the growth momentum may slow down. It is expected to grow at a CAGR of 3.7% in 2022-2026, and the market growth of 45% will be From the Asia-Pacific region, China and Japan are the main markets for flat glass processing machinery in the Asia-Pacific region, and the market will grow faster than Europe, North America, and South America. Growth in the automotive and construction end-use industries will boost the growth of the flat glass processing machinery market in the Asia Pacific over the forecast period.
Flat Glass Processing Machinery Market - Drivers and Challenges
The key factor driving the growth of the flat glass processing machinery market is the demand for energy-efficient glass manufacturing. Glass manufacturers focus on energy savings, and the market is increasingly turning to energy-efficient manufacturing solutions. Rising energy costs, coupled with increasing cost competitiveness in the market, are driving glass manufacturers to adopt energy-efficient solutions. Steady increases in electricity prices have also increased its operating costs, directly impacting a facility's cost bottom line. Some programs also promote the adoption of energy-efficient solutions by providing various guidelines and performance evaluation parameters.
A growing focus on energy efficiency, supported by the efforts of glass manufacturers and various organizations, will boost the demand for an advanced flat glass processing machinery, thereby positively impacting the market growth over the forecast period.
However, capital market intensiveness will be the main challenge for the flat glass processing machinery market. The capital required by glass processing machinery manufacturers to provide advanced machinery in the market has increased significantly, and they need to use raw materials such as brass, steel, aluminum, iron, titanium, stainless steel, copper, and other alloys, which account for about 47% of machinery manufacturing costs. , while labor costs account for 28% of machinery manufacturing costs. Fluctuations in raw material prices disrupt the pricing strategies of glass processing machinery manufacturers, and manufacturers also incur additional costs when hiring consultants or design experts, all these factors increase manufacturing costs, thereby contributing to the growth of the global flat glass processing machinery market. adverse effects.
Figure 1 The market forecast of flat glass processing machinery in Asia pacific
The main companies covered in the report are:
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