India Commercial Glass Market
Glass is a non-crystalline solid, often transparent, and has widespread practical, technological, and decorative applications in our daily lives. Glass is made by melting sand, soda ash and limestone at very high temperatures. However, commercial glass is based mainly on sand, also known as silica.
The Indian commercial glass market has evolved from a small-scale, decentralized manufacturing business to relatively organized marketplace. It is rapidly expanding on account of emerging industrial infrastructure, specifically automotive and construction sectors. The performance of glass manufacturing units is highly dependent on efficiency in energy consumption and adoption of technological advancements. India is one of the largest consumers of glass in construction around the globe. Increasing urbanization and increase in disposable incomes of end users is anticipated to drive the demand for the market on account of increased acceptance of green and sustainable architecture.
Further, substantial rise in industrial growth of India is also estimated to contribute towards the increase in demand of commercial glass over the forecast period. Various key players are constantly focused on establishing India as a leading export hub by entering and expanding the markets of Europe and America on the back of product diversification such as automotive glass and solar panels. Moreover, increased awareness among the people for the recyclability of product packaging and growing concerns of the regulatory authority about energy conservation is anticipated to benefit the demand for glass market in coming years.DOWNLOAD SAMPLE REPORT HERE
Market Size and Forecast
India commercial glass market is anticipated to witness significant opportunities and is estimated to grow at a CAGR of around 12% over the forecast period i.e. 2019-2027. India commercial glass market is segmented by type and by industry. On the basis of type, it is segmented into container glass, fiber glass, flat glass and specialty glass, out of which, container glass is anticipated to have major share of India commercial glass market on account of increased awareness for health and hygiene and increasing use of glass containers in contrast to plastic containers among the consumers. On the basis of industry, it is segmented into automotive, architectural and food and beverage industry, out of which, architectural industry hold the major share and is projected to witness highest CAGR over the forecast period. This can be attributed to diverse functions and durability of commercial glass as a building material. Further, the demand of commercial glass is anticipated to grow significantly in automobile sector on the back of increased number of cars manufactured in India. Moreover, the food and beverage is expected to account for the largest share in the market during the forecast period on the back of increasing awareness about safety and hygiene of packaging material among the end users and the use of glass as containers.
In India, the majority of glass manufacturers and industry clusters are located in Ahmedabad, Baroda, Bengaluru, Firozabad, Hyderabad, Kolkata and Mumbai, New Delhi, Pune, out of which Firozabad is the India’s biggest glass cluster, which has thousands of operational units and employs a ton of hundreds of people. The consumption of glass in construction is estimated to drastically increase in Bengaluru, Chennai, Hyderabad, Mumbai and New Delhi Capital Region (NCR) owing to boom in real estate projects in India.
Increase in Rapid Construction
A significant increase in adoption of commercial glass in construction of buildings is anticipated on account of its quality, easy installation and low maintenance cost as compared to traditional gypsum constructions. Moreover, increase in production capacity of manufacturing units to meet the rise in the demand of glass and increased focus to produce energy efficient products using solar panels is anticipated to promote growth potential of Indian commercial glass market over the forecast period.
Integration of Technological Advancements
Integration of technological advancements with commercial glass is estimated to result in functional advantages for glass on the back of increasing number of fittings manufactured by the hardware industry. These factors along with automation in manufacturing technologies and properties of glass to self-clean and anti-reflective properties are the some of the benefits driving the adoption of commercial glass. These factors are estimated to support the growth of the market.
Increase in Input Costs
The increase in the input cost of glass manufacturing as a result of increasing import duties and the changes in government policies to regulate the functioning of automotive and construction sectors are estimated to hamper the growth of India commercial glass market over the forecast period.
Our-in depth analysis of the India commercial glass market includes the following segments:
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