2019 Glass Board Market - Latest trends, Growth and Forecast up to 2024
Global
Glass Board Market size is likely to witness an exponential growth rate over
the forecast period, 2019-2025. Glass boards are a piece of tempered glass
which are ten time stronger than the regular glass boards works with dry erase
markers, permanent markers, paint markers and grease pens. Many industries are
started to rely on them due to cleanliness, durability, and style. Glass boards
are rapidly replacing the traditional white boards, which were the cutting-edge
product just few years ago. Glass boards are made from various types of
pressboards coated in a static-cling and dry erase chemicals.
The
major factors which are driving the global glass board market include the
adoption of e-learning, gamification in education & corporate sectors and
increased government funding to incorporate the product for various
applications. Growing investment in the education sector is one of the major
factors driving the glass board market growth. Education is the second largest
industry in the world after healthcare. Increasing technology adoption in
education sector has led to improved collaboration and interaction among
students.
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Global educational technology market has crossed USD 17.7 billion in 2017
and it is projected to grow to USD 40.9 billion by 2022, at the CAGR of 18.3%.
The growth of education sector shall help the glass board market to grow on a
significant rate over the forecast time frame. The product is also used in the
corporate sector for presentation and meetings. Increasing product consumption
in both corporate and education sectors shall create high product demand over
the coming years. However, increasing adoption of substitute technologies, such
as flat panels and tablets are expected to hamper the glass board market growth
over the forecast timespan. High cost and lack of awareness among people about
the product may also restrain the glass board market growth in coming years.
The global glass board market has been segmented by product into magnetic
dry erase boards and non-magnetic dry erase boards. Magnetic dry erase boards
are some of the most useful and durable products in glass board market. They
combine the clean look of board with the added features of posting exam
calendars and important documents. It is a great tool for professors, business
owners and hospitals, owing to these properties magnetic dry erase board market
is anticipated to grow at a significant growth rate. Magnetic dry erase glass
boards are generally installed in front of K-8 classrooms. These boards let
teachers do more than with dry erase markers. Schools choose to place
non-magnetic whiteboards at back of the classrooms, where reminders, homework
assignment and other notes needed to use the board.
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Asia Pacific held the major market share of glass board market in 2017
and it is anticipated to lead the market, over the forecast period. The growth
of glass board market in the region is primarily driven by increasing
investments on educational infrastructure coupled with improving lifestyle in
the developing countries such as India and China. The school accounted for the
largest market share of Asia Pacific glass board market in past few years and
projected to continues to do so throughout the forecast period. Education
sector in India is currently valued at USD 100 billion and anticipated to
nearly double USD 180 billion by 2020.
Indonesia, Sri Lanka, and Myanmar’s education markets are growing with
good growth rate. This exponential growth in education sector of the region
will provide more opportunities to the Asia Pacific glass board market in near
future. North America was the second largest product consumer. This regional
market is likely to experience moderate growth over the forecast timespan due
to technological advancement and increasing adoption of interactive whiteboards
in the region. Europe might experience sluggish growth rate in coming years,
due to market saturation and increasing usage of modern devices in classroom
teaching.
Major players operating in the
global glass board market are ACCO Brands, MooreCo Inc., Impact Signs Inc.,
Xiamen Blessing Glass Whiteboard Manufacturing Co., Ltd, Clarus, Glass
Whiteboard, Casca Glass, Fulbright Glass Boards, Krystal Glass Writing Boards,
Inc., Ghent, Archi Expo and Claridge, among others. In April 2016, MooreCo Inc.
and Vanerum Stelter, LLC came together to offer most comprehensive offering of
educational and commercial furniture, tools, technological products, and visual
communication tools. This strategic decision will help both companies to
provide better solution to customer and it will increase their customer base.
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2019 Glass Board Market - Latest trends, Growth and Forecast up to 2024
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July 04, 2019
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