Report Overview

India Flat Glass Market - Industry Trends & Forecast Report, 2029

India flat glass market size was estimated at USD 3.29 billion in 2022. During the forecast period between 2023 and 2029, the size of India flat glass market is projected to grow at a 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. Notably, the expanding industrial sector is poised to drive up the need for flat glass. For instance, the increasing versatility of flat glass in various end-use industries such as construction and automotive, where it is used in windows, doors, facades, interior partitions, and railings for stairs and balconies, is expected to positively impact overall sales. Also, the rising appetite for electronic displays and the growing demand for consumer electronics, including smartphones, televisions, tablets, laptops, wearables, and other devices, are anticipated to further boost market growth. Prominent manufacturers are also increasing their investments in research and development activities to introduce and develop superior-quality flat glass, which is likely to fuel market growth in the coming years.

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, and 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.

India Flat Glass Market

Growth Drivers

Growing Construction Industry

The robust growth of India's construction industry is a significant driver propelling the expansion of the Flat Glass Market. As the nation experiences rapid urbanization and increased infrastructure development, there is a growing demand for flat glass in applications such as windows, facades, doors, and interior partitions. The construction sector's expansion necessitates the use of high-quality glass products, thereby positively influencing the market. This surge in demand for architectural glass in residential and commercial buildings, coupled with ongoing government initiatives, is a key factor fueling the growth of the flat glass market in India.

Restraints

Volatile Raw Material Prices

The price volatility of raw materials acts as a significant constraint on the India flat glass market. Key components in the manufacturing of flat glass, such as soda ash and natural gas, often experience price fluctuations. This volatility in raw material prices can lead to increased production costs, making it challenging for manufacturers to maintain stable pricing for flat glass products. As a result, the market may face pressure in terms of pricing and profitability, which can impact its overall competitiveness and growth potential in a cost-sensitive industry.

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

Segmental Coverage

India Flat Glass Market – By Type

By type, the India flat glass market is divided into Basic Float Glass, Toughened Glass, Coated Glass, Laminated Glass, Insulated, and Extra Clear Glass segments. The insulated segment holds the highest share in the India flat glass market by type. It is primarily due to its increasing popularity in the construction and building sector. Insulated glass, often referred to as double-glazed or double-paned glass, is designed with two or more layers of glass separated by a vacuum or gas-filled space, providing superior thermal insulation and soundproofing properties. Given India's diverse climate and the growing emphasis on energy efficiency, insulated glass is in high demand. It helps in reducing heat transfer, improving energy efficiency, and enhancing indoor comfort, making it a preferred choice for modern architectural designs and green building practices, thus driving its market dominance.

India Flat Glass Market – By Technology

Based on technology, the India flat glass market is divided into Float Glass, Sheet Glass, and Rolled Glass segments.

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 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, estimates suggest Indian firms may 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. As per industry estimates, the India real estate market size is forecast to reach a value of USD 1 trillion 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.

India Flat Glass Market – By Region

Regionally, the India Flat Glass Market is segmented as North India, South India, East India, and West India.

Competitive Landscape

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.

Scope of the Report

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

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. India Flat Glass Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Growing construction industry
         2. Rising real estate investments
      2. Restraints
         1. Price volatility of raw materials
         2. Increasing environmental concerns
      3. Opportunity
         1. Increasing emphasis on sustainable construction practices
         2. Substantial growth in demand for cold chain system
      4. Challenges
         1. Competition from alternative materials
   3. Technology Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. India Flat Glass Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
         1. Basic Float Glass
         2. Toughened Glass
         3. Coated Glass
         4. Laminated Glass
         5. Insulated
         6. Extra Clear Glass
         7. Others
      2. By Technology
         1. Float Glass
         2. Sheet Glass
         3. Rolled Glass
      3. By End User
         1. Construction
         2. Automotive
         3. Solar Energy
         4. Electronics
         5. Others
      4. By Region
         1. North India
         2. South India
         3. East India
         4. West India
5. North India Flat Glass Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
      2. By Technology
      3. By End User
6. South India Flat Glass Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
      2. By Technology
      3. By End User
7. East India Flat Glass Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
      2. By Technology
      3. By End User
8. West India Flat Glass Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
      2. By Technology
      3. By End User
9. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. India Flat Glass Company Market Share Analysis, 2022
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
10. Impact of Covid-19 on India Flat Glass Market
11. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
    1. Asahi India Glass
    2. Borosil Renewables Ltd
    3. Borosil Ltd
    4. Emerge Glass
    5. Gold Plus Float Glass
    6. Gujarat Guardian Limited
    7. Sisecam Flat Glass India Pvt Ltd
    8. Nippon Sheet Glass Co., Ltd
    9. SCHOTT AG
    10. Other Prominent Players
12. Key Strategic Recommendations
13. Research Methodology
    1. Qualitative Research
       1. Primary & Secondary Research
    2. Quantitative Research
    3.  Market Breakdown & Data Triangulation
       1.  Secondary Research
       2.  Primary Research
    4.  Breakdown of Primary Research Respondents, By Region
    5.  Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

List of Figures

Figure 1       India Flat Glass Segmentation  

Figure 2       India Flat Glass Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2022

Figure 4       India Flat Glass Market Size, By Value (USD Million), 2019–2029

Figure 5       India Flat Glass Market Share, By Type, By Value, 2019–2029   

Figure 6       India Flat Glass Market Share, By Technology, By Value, 2019–2029

Figure 7       India Flat Glass Market Share, By End User, By Value, 2019–2029

Figure 9       North India Flat Glass Market Size, By Value (USD Million), 2019–2029

Figure 10     North India Flat Glass Market Share, By Type, By Value, 2019–2029

Figure 11     North India Flat Glass Market Share, By Technology, By Value, 2019–2029   

Figure 12     North India Flat Glass Market Share, By End User, By Value, 2019–2029       

Figure 13     South India Flat Glass Market Size, By Value (USD Million), 2019–2029

Figure 14     South India Flat Glass Market Share, By Type, By Value, 2019–2029   

Figure 15     South India Flat Glass Market Share, By Technology, By Value, 2019–2029   

Figure 16     South India Flat Glass Market Share, By End User, By Value, 2019–2029      

Figure 17     East India Flat Glass Market Size, By Value (USD Million), 2019–2029

Figure 18     East India Flat Glass Market Share, By Type, By Value, 2019–2029

Figure 19     East India Flat Glass Market Share, By Technology, By Value, 2019–2029     

Figure 20     East India Flat Glass Market Share, By End User, By Value, 2019–2029

Figure 21     West India Flat Glass Market Size, By Value (USD Million), 2019–2029

Figure 22     West India Flat Glass Market Share, By Type, By Value, 2019–2029

Figure 23     West India Flat Glass Market Share, By Technology, By Value, 2019–2029    

Figure 24     West India Flat Glass Market Share, By End User, By Value, 2019–2029        

List of Tables

Table 1        India Flat Glass Segmentation  

Table 2        India Flat Glass Market Value Chain Analysis

Table 3        Company Market Share Analysis, 2022

Table 4        India Flat Glass Market Size, By Value (USD Million), 2019–2029

Table 5        India Flat Glass Market Share, By Type, By Value, 2019–2029   

Table 6        India Flat Glass Market Share, By Technology, By Value, 2019–2029

Table 7        India Flat Glass Market Share, By End User, By Value, 2019–2029

Table 9        North India Flat Glass Market Size, By Value (USD Million), 2019–2029

Table 10      North India Flat Glass Market Share, By Type, By Value, 2019–2029

Table 11      North India Flat Glass Market Share, By Technology, By Value, 2019–2029             

Table 12      North India Flat Glass Market Share, By End User, By Value, 2019–2029       

Table 13     South India Flat Glass Market Size, By Value (USD Million), 2019–2029

Table 14      South India Flat Glass Market Share, By Type, By Value, 2019–2029

Table 15      South India Flat Glass Market Share, By Technology, By Value, 2019–2029             

Table 16      South India Flat Glass Market Share, By End User, By Value, 2019–2029      

Table 17      East India Flat Glass Market Size, By Value (USD Million), 2019–2029

Table 18      East India Flat Glass Market Share, By Type, By Value, 2019–2029

Table 19      East India Flat Glass Market Share, By Technology, By Value, 2019–2029     

Table 20      East India Flat Glass Market Share, By End User, By Value, 2019–2029

Table 21       West India Flat Glass Market Size, By Value (USD Million), 2019–2029

Table 22      West India Flat Glass Market Share, By Type, By Value, 2019–2029

Table 23     West Flat Glass Market Share, By Technology, By Value, 2019–2029

Table 24      West India Flat Glass Market Share, By End User, By Value, 2019–2029        

Table 25      Asahi India Glass Company Overview

Table 26      Asahi India Glass Financial Overview

Table 27      Borosil Renewables Ltd Company Overview

Table 28      Borosil Renewables Ltd Financial Overview

Table 29      Borosil Ltd Company Overview

Table 30      Borosil Ltd Financial Overview

Table 31      Emerge Glass Company Overview

Table 32      Emerge Glass Financial Overview

Table 33      Gold Plus Float Glass Company Overview

Table 34      Gold Plus Float Glass Financial Overview

Table 35      Gujarat Guardian Limited Company Overview

Table 36      Gujarat Guardian Limited Financial Overview

Table 37      Sisecam Flat Glass India Pvt Ltd Company Overview

Table 38      Sisecam Flat Glass India Pvt Ltd Financial Overview

Table 39      Nippon Sheet Glass Co. Ltd Company Overview

Table 40      Nippon Sheet Glass Co. Ltd Financial Overview

Table 41      SCHOTT AG Company Overview

Table 42      SCHOTT AG Financial Overview