The India Clear Glass Market was evaluated at INR 70.13 billion in FY2022, and is projected to expand at a CAGR of 5.98% through FY2028, reaching INR 100.98 billion by FY2028, as per TechSci Research report titled “India Clear Glass Market- By Region, Competition, Forecast & Opportunities, FY2018-FY2028”. The market growth can be attributed to the growth in industrial sector, augmented use of clear glass in end-use industries, and substantial research and development investment in developing high-quality clear glass.
The demand for clear glass in India is rising owing to significant investments in commercial and residential construction, including smart cities, and the growing population, which results in an increase in demand for residential and commercial buildings. The demand for clear glasses in the country is expected to be driven by a mix of fiscal support and government policies that endorse the housing industry in the country. Furthermore, the country's massive population necessitates continued investments in the residential building construction sector, creating a market opportunity for India's clear glass manufacturers.
The India Clear Glass Market is highly dynamic and is widely used in various interior applications such as doors, windows, glass partitions, wall cladding, handrails, balustrades, stairs, and others, where clear and transparent vision is necessary. Investors often prefer to reinvent existing spaces instead of constructing new ones, and residential and commercial owners renovate their interior fit-outs to keep them up-to-date with the latest designs and trends.
The India Clear Glass Market is segmented based on technology, application, raw material, and region, with the flat technology segment accounting for the largest share of 49.61% in 2022. This segment is expected to maintain its market dominance over the next five years due to the rising growth in the construction and infrastructure industry.
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The adoption of flat glass in large commercial building construction, driven by the ongoing trend of environmentally friendly practices in the workplace and at home, is expected to drive the growth of the flat technology segment at a CAGR of 6.68% during the forecast period. Flat glass has been used for various purposes in the construction industry, such as an insulation material, external glazing material, structural component, and cladding material. The increasing use of flat glass to create delicate-looking fenestrations on traditional windows and facades has further boosted the demand for flat glass.
In terms of application, the India Clear Glass Market is segmented into residential and non-residential. The non-residential segment held a market share of 51.56% and was valued at INR 36.16 billion in 2021. The market is projected to reach INR 54.03 billion in the next five years, exhibiting a CAGR of 6.60% from 2023E-2028F. This growth can be attributed to the large-scale development of commercial real estate projects in India.
Architectural advancements in India have also led to an increase in product demand, as the material used in these applications offers several advantages, such as low cost and energy efficiency, light transmission, absorption, and refraction, rust resistance, weather resistance, dust resistance, greater insulation, a wide range of color options, and the ability to be shaped into any shape.
Key market players operating in the India clear glass market include:
- Saint Gobain India Pvt. Ltd.
- Asahi India Glass Limited
- Gold Plus Glass Industry Limited
- Gujarat Guardian Ltd.
- Sisecam Flat Glass India Private Limited
- Fuso Glass India Private Limited
- Glass Wall Systems India Private Limited
- Pragati Glass & Industries Private Limited
- GSC Glass Private Limited
- Duratuf Glass Industries Private Limited
- Sejal Glass Limited
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“North region accounted for the largest share of 33.74% in India Clear Glass Market in 2022. This region is expected to maintain its market dominance over the next five years owing to the presence of developed buildings and metro cities in the region. Hundreds of residential and commercial buildings are being built in the northern region. In an effort to revitalize the residential market, particularly in the excess supply region of North India, the Indian government has provided several incentives to boost the affordable housing segment. These incentives have resulted in significant growth in the affordable housing segment in fiscal years 2020-21. As a result, demand for clear glass has increased in the region and will continue to rise over the forecast period. Additionally, Presence of strong industrial base coupled with increasing number of manufacturing facilities in this region is boosting the demand of clear glasses” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“India Clear Glass Market By Technology (Flat, Rolled, Sheet), By Applications (Residential and Non-Residential), By Raw Material (Sand, Soda Ash, Recycled Glass, Dolomite, Limestone and Others (feldspar, Iron Oxide etc)), By Region (North, East, West, South), By Top 10 States, Competition, Forecast & Opportunities, FY2018-FY2028” has evaluated the future growth potential of India clear glass market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India clear glass market.
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