India Commercial Glass Market Size & Share, by Chemical Composition (Borosilicate Glass, Soda Lime Glass, Potash Lime Glass, Potash Lead Glass, Silica Glass); Product (Annealed Glass, Coater Glass, Reflective Glass, Processed Glass, Mirrors); Glass Type (Flat Glass, Fiber Glass, Container Glass, Specialty Glass); Manufacturing Process (Float Glass Process, Glass Blowing) - Supply & Demand Analysis, Growth Forecasts, Statistics Report 2031

India Commercial Glass Market Size, Forecast, and Trend Highlights Over 2021 – 2031

The India commercial glass market is estimated to garner a revenue of USD 4,863.9 Million by the end of 2031 by growing at a CAGR of 6.42% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of USD 2,674.8 Million in the year 2021. The market is primarily driven by rapid increase in infrastructural sector. Till 2030, India is likely to build about 700-900 million square meters of urban space every year. Further, the rising government projects is to boost the glass demand in India. The demand for glass is growing nearly by 15% in recent years

Rising number of cars with sunroof is to create more opportunities for glass market. Every 1 out of 3 Hyundai car sold, had a sunroof. Moreover, in first five months of 2022, about 60% sales of Hyundai’s mid-sized SUV Creta was for the reason of it sunroof feature. Furthermore, need to save energy for using sunlight rather than of electricity for lightning the room, is expected to drive the growth of the India commercial glass market. Domestic sector is responsible for one quarter of total consumption of electricity in India.

India Commercial Glass Market: Growth Drivers and Challenges

Growth Drivers

• Higher Constructional Activities - With the rising population, the needs of housing are rapidly increasing. In 2021, more than 230,000 housing units were catapulted in the resident sector.

• Increased Sales of Automobile with Sunroof - Earlier sunroof was the part of only luxury cars but now with the increased demand of sunroof among the population, almost all brands are offering sunroof in their top models. In the India, one car out of five has a factory fitted sunroof and it is most common in SUV type.

• Government Initiatives for Developing Smart Cities - Urbanization had led government to develop new smart cities and to change older cities into smart cities.Government of India launched 100 Smart Cities Mission in 2015, in the recent budget of 2021-22, USD 868 million were allocated for the construction of smart cities.

• Need to Reduce Energy Uses by Various Sectors - Glass building have been beneficial for saving energy in corporate sector, industrial sector and other. The sunlight coming through glasses significantly reduces electricity usage. Energy consumption of overall building makes for nearly 37% of India’s total annual primary energy consumption. Moreover, this consumption is expected to increase approximately 860% by 2047.

• Rapid Penetration of Metro in the Country - The Indian Metro rail projects have rapidly increased over the years. The Metro rail project worth of USD 25 billion is under the approval stage. Another 15 cities had been added for the onset of metro rail.

Challenges

• Huge Capital Investment in the Glass Business
• Rise in Cost of Raw Materials
• Risk of Breaking of Glass Due to Various Factors

The expenditure on glass production is dependent on automobile and constructional sector, any changes in the two sectors, increases the expenditure in glass production. Moreover, glass is transported in bulk therefore, demands huge capital investment and any extra added volume, increases its transportation cost.

The India commercial glass market is segmented and analyzed for demand and supply by product type into annealed glass, coater glass, reflective glass, processed glass, mirrors and others. Amongst all, the annealed glass segment is anticipated to hold the largest market size of USD 2,303.6 million by the end of 2031. It is expected to grow at a CAGR of 5.82% over the forecast period. Moreover, the annealed glass segment garnered a revenue of USD 1,341.1 million in 2021. Annealed glass is mostly used in bathroom dividers, table top glass, balcony window and doors glass. Therefore, rise in number of flat construction and growth of real estate sector is to propel the demands of the annealed glass. The real estate demand for data centers is anticipated by 15-18 million square ft. by 2025. Furthermore, in 2022, nearly 4 lakh housing units are to be completed in top 7 cities of the country.

Market Segmentation

Our in-depth analysis of the India commercial glass market includes the following segments:

Top Featured Dominating the India Commercial Glass Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the India commercial glass market that are included in our report are Corning Incorporated, GSC GLASS LTD, Duratuf Glass Industries (P) Ltd., Glass Wall Systems (I) Pvt. Ltd., FUSO, Sejal Glass Ltd, Gold Plus Float Glass, Saint-Gobain, Asahi India Glass Limited, PGP Glass Private Limited, Hindustan National Glass & Industries Limited and others.