PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1407972
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1407972
Global Glass Lined Equipment Market is valued at approximately USD 1.92 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 10.2% over the forecast period 2023-2030. Glass-lined equipment refers to industrial vessels, pipes, and other components that are coated with a layer of glass, typically in the form of vitreous enamel. This glass lining serves as a protective and corrosion-resistant barrier for the underlying metal or alloy substrate, offering several advantages for various industrial applications. The Glass Lined Equipment Market is expanding because of factors such as rising chemical industry expansion, growing pharmaceutical and healthcare sector, and rising industrial development across the globe.
The pharmaceutical sector is witnessing robust expansion due to increasing global healthcare demands, an aging population, and a rise in chronic diseases. As pharmaceutical companies strive to meet these demands, they require specialized equipment to produce drugs, vaccines, and other medical products. Glass lined equipment, with its corrosion-resistant properties and suitability for high-purity processes, has become a preferred choice in pharmaceutical manufacturing. According to Statista, in the year 2020, the pharmaceutical industry generated a revenue of USD 931.95 billion which increased to USD 1098.49 billion in the year 2022 and it is projected to reach USD 1477.87 million by the year 2028. In addition, stringent regulatory standards regarding product safety & hygiene and investments in infrastructure development are creating new opportunities for market growth. However, complex manufacturing processes and a lack of specialized skills stifled market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Glass Lined Equipment Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022. The pharmaceutical sectors in China, Japan, and India are poised for substantial expansion in the forecast period, primarily due to the ongoing growth of their aging populations. Therefore, pharmaceutical firms are expected to channel their investments into these regions. These dynamics are projected to drive the adoption of cutting-edge technological processes within the industry, fueling market expansion in these countries. On the other hand, Europe is projected to have the fastest growth owing to factors such as rising pharma industry, rising industrial development and rising expansion in pharma manufacturing plants in the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable