India Clear Glass Market to be Valued INR100 Billion by FY2028
Increasing infrastructure development and surging demand for
clear glass is expected to drive the India Clear Glass market through forecast
period.
According to
TechSci Research report, “India Clear Glass Market-
By Region, Competition, Forecast & Opportunities, FY2018-FY2028” India clear glass market
was valued INR 70.13 billion in FY2022 and is forecast to grow at CAGR of 5.98%
through FY2028, to reach INR 100.98 billion by FY2028. Growth in the market can
be attributed to growth in industrial sector, increased use of clear glass in
end use industries and high research & development investment for the
development of superior quality clear glass.
India has made
significant investments in commercial and residential construction, including
smart cities. The growing population is leading to a rise in demand for
residential and commercial buildings, which is augmenting demand for clear
glasses all across India. Additionally, the short-term expansion of India's
construction activities will be driven by a mixture of fiscal support and
government policies supporting the housing industry in the country. Long-term
growth will be primarily driven by the country's massive population, which
necessitates continued investments in the residential building construction
sector, creating a market opportunity for India's clear glass manufacturers.
The India Clear Glass
Market is very dynamic, as it is widely used in various interior applications
where clear and transparent vision of the other side is required, such as
doors, windows, glass partitions, wall cladding, handrails, balustrades,
stairs, etc. Investors often prefer reinventing existing spaces rather than
building new ones. Furthermore, residential and commercial owners renovate
their interior fit-outs to keep them up-to-date with latest designs and trends.
Such demand for space renovation is likely to drive the India Clear Glass
Market.
India Clear Glass Market is segmented based on
technology, application, raw material, and region. Based on technology, the
market is further fragmented into flat, rolled, sheet. The Flat technology
segment accounted for the largest share of 49.61% in the India Clear Glass
Market in 2022. This segment is expected to maintain its market dominance over
the next five years. Moreover, this is due to increasing growth in construction
and infrastructure industry.
Browse over 22 market data Figures spread through 100 Pages and an in-depth TOC on " India Clear Glass Market "
The flat technology segment is expected to grow at a
CAGR of 6.68% during the forecast period, owing to the ongoing trend of
environmentally friendly practices in the workplace and at home, which has
resulted in the adoption of flat glass in large commercial building
construction. Flat glass has been used in the construction industry as an
insulation material, external glazing material, structural component, and
cladding material. Furthermore, flat glass is increasingly being used to create
delicate-looking fenestrations on traditional windows as well as facades. As a
result, the demand for flat glass has increased.
Based on application, the market is segmented into
residential & non-residential. The non-residential segment in India Clear
Glass Market stood at INR36.16 billion, with a market share of 51.56% in 2021
and the market is projected to reach INR54.03 billion in the next five years,
exhibiting a CAGR of 6.60%, in value terms, during 2023E-2028F, on account of
large-scale development of commercial real estate projects.
Various architectural advancements in India have
increased product demand. The material used in these applications has several
advantages, including low cost and energy efficiency, light transmission,
absorption, and refraction, rust resistance, weather resistance, dust
resistance, greater insulation, a wide range of colour options, and the ability
to be shaped into any shape.
Key market
players operating in the India clear glass market include:
- Saint Gobain India Pvt. Ltd.
- Asahi India Glass Limited
- Gold Plus Glass Industry Limited
- Gujarat Guardian Ltd.
- Sisecam Flat Glass India Private Limited
- Fuso Glass India Private Limited
- Glass Wall Systems India Private Limited
- Pragati Glass & Industries Private Limited
- GSC Glass Private Limited
- Duratuf Glass Industries Private Limited
- Sejal Glass Limited
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“North region accounted for the largest
share of 33.74% in India Clear Glass Market in 2022. This region is expected to
maintain its market dominance over the next five years owing to the presence of
developed buildings and metro cities in the region. Hundreds of residential and
commercial buildings are being built in the northern region. In an effort to
revitalize the residential market, particularly in the excess supply region of
North India, the Indian government has provided several incentives to boost the
affordable housing segment. These incentives have resulted in significant
growth in the affordable housing segment in fiscal years 2020-21. As a result,
demand for clear glass has increased in the region and will continue to rise
over the forecast period. Additionally, Presence of strong industrial base
coupled with increasing number of manufacturing facilities in this region is
boosting the demand of clear glasses” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based global management consulting firm.
“India Clear Glass
Market By Technology (Flat, Rolled, Sheet), By Applications (Residential and
Non-Residential), By Raw Material (Sand, Soda Ash, Recycled Glass, Dolomite,
Limestone and Others (feldspar, Iron Oxide etc)), By Region (North, East, West,
South), By Top 10 States, Competition, Forecast & Opportunities, FY2018-FY2028”
has
evaluated the future growth potential of India clear 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 clear glass market.
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