India Glass Market growth to Grow with a CAGR of 7.64%
Increasing demand from the
construction industry and growing demand for electronic displays are major
factors driving the growth of the market studied.
According to TechSci Research report, “India Glass
Market - By Country, Competition, Forecast and Opportunities, 2019-2029”,
The construction industry is the largest consumer of glass in India. The rapid
urbanization and rising disposable incomes in India are driving the demand for
glass in the construction industry. Glass is used in a variety of construction
applications, such as windows, doors, mirrors, and facades. The construction
and automotive industries are the most important consuming sectors: almost 80
million square feet of land in India is earmarked for shopping malls. Nowadays,
taking climate, safety, sound attenuation, energy conservation and aesthetics
into consideration, builders are opting for more glass in their construction.
The glass revolution is also taking place in the automotive industry which is
predicted to grow following an 8% cut in excise duty on vehicles and the easy
availability of flexible automobile loans.
It goes without saying that the rapid increase in
demand during the 1990s, in addition to provoking a cutback in exports, charmed
some international firms which now are the major producers of float glass.
Close to them there are about 27 domestic companies which have been forced to
expand their capacities and diversify into new areas in order to remain
competitive.
Totally, the flat glass industry grew by about 80%
between 2000 and 2006, resulting in a compound annual growth rate of 10.1%. The
per capita consumption of glass, which was 0.41 kg in 1999, reached 0.76% kg in
2006. Anyway, it isn’t
all “peaches and roses” in India : problems like the overcapacity of raw glass
(and a projected surplus of processed glass), Chinese competition (in spite of
anti-dumping duties) and the lack of codes of standards threaten Indian glass industry.
As far as overcapacity concerned, analysts say that the supply will far exceed
demand at least until 2009. Excess capacity, increased competition and the
development of a regulatory framework are the real future challenges for the
Indian glass industry.
Browse over XX market data Figures spread
through 86 Pages and an in-depth TOC on "India Glass Market”
The North India region is the dominating
region in the India glass market, accounting for over 35% of the market share.
This is due to the presence of major metropolitan cities such as Delhi, Mumbai,
and Kolkata in the region. These cities are witnessing rapid urbanization and
infrastructure development, which is driving the demand for glass products.
Other major regions in the India glass
market include the West India region, the South India region, and the East
India region. The West India region is the second-largest region in the market,
accounting for over 25% of the market share. This region is home to major
cities such as Ahmedabad, Pune, and Surat, which are witnessing rapid
industrial growth. Flat glass is the largest segment of the Indian glass
market, accounting for over 60% of the market share. The demand for flat glass
is expected to continue to grow in the coming years, driven by the rapid
urbanization and rising disposable incomes in India. Flat glass is used in a
variety of construction applications, such as windows, doors, mirrors, and
facades.
The growing demand for flat glass is
also being driven by the government's focus on infrastructure development. The
government is investing heavily in the construction of new roads, railways,
airports, and other infrastructure projects. This is creating demand for flat
glass for use in these projects.
The major players in the Indian flat
glass market are investing in capacity expansion to meet the growing demand.
For example, in December 2022, Saint-Gobain announced an investment of INR
1,800 crore (USD 243.45 million) to expand its flat glass business in India.
Major companies operating in India Glass Market are:
- Asahi India Glass Limited
- Borosil
Glass Works Limited
- AGI
Glaspac (HSIL Ltd)
- Piramal
Glass Limited
- Saint-Gobain
- Schott
Kaisha Pvt Ltd (SCHOTT AG)
- Haldyn
Glass Limited
- Gold
Plus Float Glass
- Şişecam
- Nippon
Sheet Glass Co., Ltd.
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“The Indian market is increasingly demanding
high-performance glass that can withstand harsh operating conditions and offer
better insulation and energy efficiency. This is leading to the growing demand
for tempered glass, laminated glass, and coated glass.
Tempered glass is a type of glass that is heated to a
high temperature and then rapidly cooled. This process makes the glass stronger
and more resistant to breakages. Tempered glass is commonly used in
applications such as shower doors, safety glass, and tabletops. Laminated glass
is a type of glass that is made by sandwiching a layer of plastic between two
layers of glass. This makes the glass more durable and resistant to breakage.
Laminated glass is commonly used in applications such as car windshields, bulletproof
glass, and architectural glazing.
Coated glass is a type of glass that has been coated
with a thin layer of metal or other material. This coating gives the glass
additional properties, such as energy efficiency, solar reflection, and
self-cleaning. Coated glass is commonly used in applications such as windows,
doors, and conservatories,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“India
Glass Market segmented By Product Type (Annealed Glass (Including Tinted
Glass), Coater Glass, Reflective Glass, Processed Glass, and Mirrors), By
End-user Industry (Building and Construction, Automotive, Solar Glass, and
Other End-user Industries), By Region, By Competition Forecast &
Opportunities, 2019-2029”, has evaluated the future growth potential
of India Glass Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in India Glass Market.
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