India Commercial Glass Market Segmentation by Chemical Composition (Borosilicate, Soda Lime, Potash Lime, Potash Lead, and Silica Glass, and Others); by Glass Type (Flat, Fiber, Container, and Specialty Glass); by Product Type (Annealed, Coater, Reflective, and Processed Glass, Mirrors, and Others); by Manufacturing Process (Float Glass Process, and Glass Blowing); and by End-Use Industry (Automotive, Construction, Pharmaceutical, Food & Beverage, Solar Energy, and Others)-Demand Analysis & Opportunity Outlook 2020-2030

India Commercial Glass Market Highlights Over 2020 - 2030

The India commercial glass market is estimated to garner a revenue of USD 4629.8 Million by the end of 2030 by growing at a CAGR of 6.42% over the forecast period, i.e., 2021 – 2030. Moreover, in the year 2020, the market in the nation registered a revenue of USD 2546.1 Million. The growth of the market can be attributed to growing demand for glass amongst the end-use industries, such as construction, automotive, energy, and others, along with the surge in government initiatives to promote the glass manufacturing industry in the nation. Commercial glasses are used in different end-use industries. In the construction industry, these glasses are used as facades in buildings or as window coverings. With the growing construction industry in the nation, the demand for these glasses is anticipated to grow significantly, and in turn, drive the market growth. According to the statistics by the National Investment Promotion & Facilitation Agency of the Government of India (GOI), the construction sector contributed to 9% of the GDP of the nation, and the real estate industry is projected to reach USD 1 Trillion by 2030.

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On the other hand, in the automotive industry, commercial glasses are used widely in cars, buses, and other commercial vehicles. Backed by the growing vehicle production in the nation, the demand for these glasses is expected to grow significantly, and in turn, contribute to the market growth. According to the statistics by the International Organization of Motor Vehicle Manufacturers (OICA), the total number of vehicles produced in the nation increased from 3557073 units in the year 2010 to 4516017 units in the year 2019. Moreover, the nation is witnessing a significant inflow in investments from globally known vehicle manufacturing brands, which is also expected to create numerous opportunities for market growth in the coming years.

Besides this, the growing use of commercial glasses in solar panels, and the rising adoption of these panels for generating renewable energy in the nation is also projected to boost the market growth during the forecast period. According to the statistics by the India Brand Equity Foundation (IBEF), as of 2020, India was ranked fifth in solar power. Moreover, the government of the nation is aimed at achieving 114GW of solar capacity addition by 2022 as per the Paris Agreement, and further plants to achieve 523GW of renewable energy capacity by 2030. Additionally, the increasing use of glassware as cutlery in restaurants as well as for residential purposes, along with the growing use of different shapes of glassware for various type of beverages and food products are also expected to pose numerous opportunities for market growth in the coming years.

Growth Drivers and Challenges Impacting the Growth of the India Commercial Glass Market

Growth Drivers

• Increasing Demand for Commercial Glass in the End-Use Industries

• Rising Favorable Initiatives of the Government of the Nation to Support Industries that Use Glass

Challenges

• Increasing Cost of Raw Materials

• High Capital Expenditure

India Commercial Glass Market Segmentation Synopsis

The India commercial glass market is segmented by chemical composition into borosilicate glass, soda lime glass, potash lime glass, potash lead glass, silica glass, and others. Out of these, the borosilicate glass segment is anticipated to garner the largest revenue of USD 1151.9 Million by the end of 2030, up from a revenue of USD 595.5 Million in the year 2020.By glass type, the market is segmented into flat glass, fiber glass, container glass, and specialty glass. Out of these, the container glass segment is anticipated to garner the largest revenue of USD 2048.7 Million by the end of 2030, up from a revenue of USD 1154.9 Million in the year 2020. By product type, the market is segmented into annealed glass, coater glass, reflective glass, processed glass, mirrors, and others. Out of these, the annealed glass segment is anticipated to garner the largest revenue of USD 2192.7 Million by the end of 2030, up from a revenue of USD 1276.6 Million in the year 2020. By manufacturing process, the market is segmented into float glass process, and glass blowing, out of which, the float glass process segment is anticipated to grow with the highest CAGR of 7.07% during the forecast period. By end-use industry, the market is segmented into automotive, construction, pharmaceutical, food & beverage, solar energy, and others. Out of these, the food & beverage segment is anticipated to generate the largest revenue of USD 1429.2 Million by the end of 2030, up from a revenue of USD 787.8 Million in the year 2020.

Key Companies Dominating the 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 Hindustan National Glass & Industries Limited, PGP Glass Private Limited, Asahi India Glass Limited, Saint-Gobain Group, Gold Plus Float Glass, Sejal Glass Ltd, FUSO Glass India Private Limited, Glass Wall Systems, Duratuf Glass Industries (P) Ltd., GSC GLASS LTD, and others.

Latest Developments in the India Commercial Glass Market:

• July 30^th, 2021: Asahi India Glass Limited announced that it has partnered with Vishakha Group, the Ahmedabad-based flexible polymer packaging company, for setting up a green field solar plant at Mundra in Gujrat, India. The plant, which will have its 1^st phase manufacturing capacity of up to 3GW, is planned for commissioning within 18-24 months.

• January 28^th, 2019: Saint-Gobain Group announced that it has opened a new flat glass production line, also known as float glass, in Sriperumbudur, near Chennai, India. This manufacturing plant, which is built over a 70-hectare industrial site, is the fifth manufacturing plant, besides its other two floats and two coaters & advanced glass processing unit plants.

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• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

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