India Flat Glass Market
India Flat Glass Market Size Expands at Significant CAGR of 6.76% to Touch USD 4.87 Billion by 2029
Published | 07 November 2023
India flat glass market is flourishing because of the thriving construction sector and increasing investments in building and construction and real estate sectors.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India flat glass market size at USD 3.29 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the India flat glass market size to grow at a significant CAGR of 6.76% reaching a value of USD 4.87 billion by 2029. Major growth drivers for the India flat glass market include an increasing infrastructure development, rising government initiatives and rapid urbanization. , the expanding industrial sector is set to increase the demand for flat glass. To illustrate, the growing versatility of flat glass in various industries like construction and automotive, where it serves in applications such as windows, doors, facades, interior partitions, and railings for stairs and balconies, is expected to have a positive impact on overall sales. Also, the increasing appetite for electronic displays and the surging demand for consumer electronics, including smartphones, televisions, tablets, laptops, wearables, and other gadgets, are foreseen to provide further impetus to market growth. Prominent manufacturers are also intensifying their investments in research and development endeavors to introduce and enhance top-quality flat glass, which is likely to propel market expansion during the forecast period. However, price volatility of raw materials and increasing environmental concerns are anticipated to restrain the overall market growth during the forecast period.
India Flat Glass Market – Overview
The India flat glass market refers to the sector within India's glass industry that focuses on the production and distribution of flat or sheet glass products. Flat glass is a type of glass that is manufactured in the form of large, flat, and uniformly thick sheets. These sheets are commonly used in various applications, including but not limited to architectural purposes (such as windows, doors, facades), automotive industry (windshields, windows), and in the production of electronic displays. The market encompasses the production, sales, and distribution of these flat glass products and is influenced by factors like infrastructure development, urbanization, government initiatives, and the demands of various end-use industries. It may also involve innovations in technology and manufacturing processes to meet the specific needs of different sectors and enhance the quality and performance of flat glass products.
Impact of COVID-19 on India Flat Glass Market
COVID-19 pandemic adversely affected the India flat glass market. Initially, the market experienced disruptions in supply chains due to lockdowns and restrictions. The construction sector, a significant consumer of flat glass, faced project delays and decreased demand. Similarly, the automotive industry, another major consumer, witnessed reduced manufacturing activities. However, as the market adapted to new safety norms and hygiene measures, it rebounded. The emphasis on cleanliness and ventilation in response to the pandemic increased the demand for glass in the healthcare and architectural sectors. While challenges remain, these shifts are steering the market toward recovery and growth.
India Flat Glass Market – By End User
On the basis of end user, the India flat glass market is divided into Construction, Automotive, Solar Energy, and Electronics segments. The construction segment is expected to hold the highest share in the India flat glass market by end user during the forecast period. It is driven by the increasing demand for flat glass in residential construction projects. Notably, the construction industry in India allows 100% foreign direct investment for completed projects related to townships, malls, and business constructions under the automatic route. Projections indicate significant growth in the Indian construction market, with an average annual output increase of 7.1% by 2025 and expectations of the real estate industry reaching USD 1 trillion by 2030. Additionally, Indian firms were estimated to raise INR 3.5 trillion (USD 48 billion) in 2022 through infrastructure and real estate investment trusts. Office absorption and housing unit sales also showed positive trends. The Indian real estate market is forecasted to reach USD 1,000 billion by 2030, and there is a notable surge in investments in commercial spaces, as exemplified by projects like Chintels Group's INR 400 crore investment in Gurugram.
Major players operating in the India flat glass market include Asahi India Glass, Borosil Renewables Ltd., Borosil Ltd., Emerge Glass, Gold Plus Float Glass, Gujarat Guardian Limited, Sisecam Flat Glass India Pvt Ltd, Nippon Sheet Glass Co., Ltd, and SCHOTT AG. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of India Flat Glass Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India Flat Glass Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing qualitative and quantitative data to boost the performance of your business solutions. BlueWeave has built its reputation by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
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- India Flat Glass Market, By Type (Basic Float Glass, Toughened Glass, Coated Glass, Laminated Glass, Insulated, Extra Clear Glass); By Technology (Float Glass, Sheet Glass, Rolled Glass); By End User (Construction, Automotive, Solar Energy, Electronics); By Region (North India, South India, East India, West India), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
Publish Date: November 2023
An increasingly high demand for flat glass from growing construction industry and increasing investments in real estate projects are projected to propel the expansion of the India flat glass market during the forecast period between 2023 and 2029.
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