According to the latest study titled ‘Global Laboratory Glassware Market Growth 2019-2024’ available with Market Study Report LLC, the worldwide laboratory glassware market is expected to amass US $3140 million by the year 2024.
Laboratory glassware implies a variety of glass-made equipment utilized for scientific experiment and other works in science. It is specially used in chemical laboratory, bio-pharmaceutical laboratory and food testing laboratory. The laboratory glassware includes bottles, beakers, flasks, burettes, funnels, petri dishes, measuring cylinders, pipette and pipette tips, stirring rods, slides, test tubes, and vials among others.
Glassware finds application in laboratories across many fields as it has good corrosion resistance property, thereby bolstering the growth of laboratory glassware market. Furthermore, the major raw materials used in production of laboratory glassware are quartz sand, boric acid, and borax. Fluctuation in the price of upstream product will impact the production cost of laboratory glassware, claims the report.
According to this study, the laboratory glassware market was valued at US $3090 million in 2019 and is estimated to grow with a CAGR of 0.3% over the forecast timeline. The study also provides an exhaustive understanding about trends, challenges, marketing strategies, distribution channels, consumer spectrum, and drivers influencing the market growth.
Based on the product type, the global laboratory glassware market is segmented as container, measurer, filter, and other. While, based on application spectrum, the industry is divided into chemical laboratory, food testing laboratory, bio-pharmaceutical laboratory and other segments. Report states that the demand for the glassware from chemical laboratory segment was the highest with 32.82% share in 2017, which was followed by bio-pharmaceutical laboratory segment with 28.64% share, and food testing laboratory segment with 14.66% share.
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Considering the geographical landscape, the laboratory glassware market is fragmented into four major regions as Americas, Europe, Asia-Pacific, and Middle East. The product market in North America and Europe combinedly held 62.04% consumption share in 2017, owing to increasing demand from downstream applications.
The key players operating in the laboratory glassware market profiled are Corning, Quark Enterprises, BOROSIL, Kavalierglass, Glacier Glass Works, Hilgenberg, Jencons Glass Industries, Eagle Laboratory Glass Company, Promax, and Sibata Scientific Technology among others.