Analysis by Chemical Composition (Borosilicate Glass, Soda Lime Glass, Potash Lime Glass, Potash Lead Glass, Silica Glass and Others); by Product Type (Annealed Glass, Coater Glass, Reflective Glass, Processed Glass, Mirrors and Others); by Glass Type (Flat Glass, Fiber Glass, Container Glass, and Specialty Glass); by Manufacturing Process (Float Glass Process, and Glass Blowing); and by End User – Supply & Demand Analysis & Opportunity Outlook 2021-2031
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Our in-depth analysis of the India commercial glass market includes the following segments:
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By Chemical Composition |
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By Product Type |
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By Glass Type |
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By Manufacturing Process |
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By End User Industry |
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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.
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.
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.
July, 2022: Saint-Gobain announced the acquisition of Kaycan, the Canada based leading manufacturer of exterior building material. By the acquisition Saint Gobain strengthens its worldwide leadership.
June, 2030: Corning Incorporated announced to provide Corning Laser Technologies to Innolux Corporation for enabling them to achieve superior design flexibility, cutting accuracy and other technical benefits.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Growth in construction and automobile sector, government initiatives for smart cities and higher construction of metro rail are few factors is to drive the market growth.
Ans: The market is anticipated to attain a CAGR of 6.42% over the forecast period, i.e., 2022 – 2031.
Ans: Higher investment demand in glass industry, risk of glass breaking and higher cost of raw material are few challenges faced by the market.
Ans: The major players in the market are Corning Incorporated, GSC GLASS LTD, Duratuf Glass Industries (P) Ltd., Glass Wall Systems, FUSO, Sejal Glass Ltd, Gold Plus Float Glass, Saint-Gobain, Asahi India Glass Limited, PGP Glass Private Limited, Hindustan National Glass & Industries Limited and so on….
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by chemical composition, glass type, product type, manufacturing process, and by end user industry.
Ans: The annealed glass segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities. The segment is to grow at a CAGR of 5.82% over the forecast period.
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