Global Laboratory Glassware and Plasticware Market to See Modest Growth through 2019
The global laboratory glassware and plasticware market is expected to grow at a compound annual growth rate (CAGR) of 4.1% from 2014-2019, according to “Global Laboratory Glassware and Plasticware Market 2015-2019,” a recent report available from Research and Markets. The report indicates that an increasein the number of research and testing facilities worldwide has led to the growth of the global laboratory glassware and plasticware market. Technological advancements in glass and plastic production will also fuel market growth. In addition, the replacement of glassware with plasticware in various applications is expected to continue over the forecast period.
Laboratory plasticware is particularly used in such cases where safety and cost are a prime concern. New methods of plasticware fabrication are improving the quality of products while reducing fabrication costs. This will encourage the shift from glassware to plasticware over the next five years. Glass slides and other precision instruments will still be made of glass due to its high transparency and purity.
The report also states that limited scope for innovation and change in design due to the generic nature of the product may hinder market growth in the next five years. This will also lead to low product differentiation in the market, leaving manufacturers with no unique features to offer in their products.
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