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The Indian flat glass market was valued at over USD 2 billion in 2020 and the market is projected to register a CAGR of more than 4% during the forecast period (2021-2026).
Due to COVID-19, India entered a complete lockdown scenario in late March, and the economic activities started resuming slowly in a step-by-step manner from early August 2020. As per a recent report by the National Statistical Office (NSO), the country’s GDP contracted by 23.9% in the April-June period (Q1) of 2020. The outbreak of COVID-19 has affected the domestic construction, industrial and manufacturing activities during 2020, due to which the country recorded a negative GDP growth rate of -10.3% in 2020. The construction sector is expected to recover, as most of the related industries started their operations in the first week of August, however most of the projects which were scheduled in 2020 had been postponed. Thus, the growth is expected to pick take up pace in the later part of the forecast period.
- Over the medium term, the major factors driving the growth of market studied are increasing demand from the construction industry in which glasses are being used in windows, facades, doors, interior partitions, balustrades, shop fronts, and railings for stairs and balconies, among other building parts. Moreover, growing demand for electronic displays as the increasing demand for consumer electronics, such as televisions, smart phones, tablets, laptops, wearables, and other devices is also a factor, driving the market growth.
- On the flip side, fluctuating raw material prices and impact of COVID-19 are expected to hinder the growth of the market.
Scope of the Report
Flat glass is a type of glass, initially produced in plane form, commonly used for windows, glass doors, transparent walls, and windscreens. For modern architectural and automotive applications, the flat glass is sometimes bent after the production of the plane sheet. India flat glass market is segmented by product type and end-user industries. The flat glass is classified by product type such as annealed glass, coater glass, reflective glass, processed glass, and mirrors. By End-user Industry, the market is segmented into construction, automotive, solar and other end-user industries. The scope of the market is comprehensive and limited to India. For each segment, the market sizing and forecasts have been done on the basis of and value (USD Million).
|Annealed Glass ( Including Tinted Glass)|
|Other End-user Industries|
Key Market Trends
Annealed Glass to Dominate the Market
- Annealed glass is a softer glass, which is thermally treated and then slowly cooled to release any internal stresses after the glass is formed. This process of treating the glass is known as annealing process, thus, this glass derived its name annealed glass. However, annealed glass are also commonly referred to as “plate” or “window” glass.
- The annealing temperature for most of the glass products ranges between 850°F and 900°F, which is known to be the stress-relief point for the glass. In this process, the glass is heat-soaked until the temperature gets consistent throughout, which helps in subjecting the glass to a steady temperature.
- After the annealing process, the glass can be cut, drilled, or/and polished without any risk of internal stress in the glass, which can otherwise shatter the glass. However, still, annealed glass is not considered to be the strongest glass and offers no safety features.
- In case these types of glass break, they mostly shatter into jagged pieces which can also lead to serious injuries. Hence, annealed glasses are not considered for use where strength and safety are pre-requisite conditions.
- Annealed glasses are generally cheaper, as compared to other glass types, as no additional manufacturing process is required in production. Float glass, clear glass, and tinted glass are some of the major types of annealed glasses that are commercially used for varied applications.
- Float Glass – Float glass (also known as flat glass) is an annealed glass that is produced through controlled cooling to relief stress from the glass. The float glass can be called annealed glass, only if it is not heat strengthened or tempered. Float glass is known for its high-quality optical clarity, which makes it useful for many window applications. It can also be used as a material to produce other types of glasses, such as tinted glass and laminated glass.
- Clear Glass – Clear glass is also a type of annealed glass that offers extreme transparency and clarity. Clear glass finds application in building construction spaces, for numerous applications, such as partitions, shower cubicles, railings, facades, furniture, store fronts, and glass-shield.
- Tinted Glass – Tinted glass is another type of annealed glass that has a film or a coating on it, which imparts color to the glass and reduces its light transmission ability. It has the ability to absorb about 30%-45% of the solar heat reflected on the glass surface, varying based on the tint and thickness of the tinted glass. Therefore, the use of tinted glass helps keep the buildings comparatively cooler than other glasses.
- The aforementioned factors are expected to drive the demand for annealed glass market in the country.
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Construction Industry to Hold the Highest Market Share of the Market
- The Indian glass industry growth has been driven primarily by the construction sector. The construction & infrastructure industry holds the highest market share in India flat glass market, owing to the growing demand for flat glass in residential building projects, government regulations about green & sustainable buildings, and the aesthetic appearance of flat glass.
- The construction industry in the country grew at a rate of around 7.1% in 2019, and it is expected to witness an increase over the forecast period (after recovery from COVID-19). With the exponential growth in the service sector of the country, especially financial and IT services, commercial offices’ construction growth is also picking pace.
- Flat glasses are made of sodium silicate and calcium silicate, and are available from 2mm to 20mm thickness ranges, for several applications. They have a weight range of 6kg/m2-36 kg/m2. These glasses are often considered as building blocks for several types of architectural and interior applications.
- Glasses are being used extensively in the construction industry, in windows, facade, doors, interior partitions, balustrades, shop fronts, and railings for stairs and balconies, among other building parts, providing potential opportunity to flat glasses.
- The body-tinted float glass is a new type of glass, in which, melted colorants are added for coloring and solar-radiation absorption properties. This type of glass saves energy, reduces heat penetration into buildings, and provides a striking visual effect.
- Owing to all the above-mentioned factors for flat glass, the India flat glass market is expected to grow rapidly over the forecast period.
The India flat glass market is consolidated in nature. Dynamic shifts in the product standards, like lightweight and non-fragile nature, are driving the flat glass manufacturers to incorporate the latest innovative methods. Some of the key players in the market are Saint Gobain, Asahi India Glass Limited, GUJARAT GUARDIAN LTD., Gold Plus Float Glass, Şişecam and among others.
In August 2019, Sisecam Flat Glass announced the launch of its reflective solar control glass in the Indian market under the “Şişecam Tentesol” brand. Şişecam Flat Glass made the announcement with its customers in New Delhi, Ahmedabad and Jaipur. It introduced its silver, grey, green, bronze and blue coloured reflective solar control glass.
In January 2019, Saint-Gobain opened a new flat glass production line (float) in India located in Sriperumbudur, near Chennai, India.This new state-of-the-art facility was built within the Saint-Gobain World Glass Complex, which already includes two floats, two coaters, advanced glass processing units for the construction industry, fire safety and the automotive industry (Sekurit), as well as a mirror line.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Increasing Demand from the Construction Industry
4.1.2 Growing Demand for Electronic Displays
4.2.1 Fluctuating Raw Material Prices
4.2.2 Impact of COIVD-19 on the Market
4.3 Industry Value-Chain Analysis
4.4 Porters Five Force Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size by Revenue)
5.1 Product Type
5.1.1 Annealed Glass ( Including Tinted Glass)
5.1.2 Coater Glass
5.1.3 Reflective Glass
5.1.4 Processed Glass
5.2 End-user Industry
5.2.4 Other End-user Industries
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Market Share/Ranking Analysis**
6.4 Company Profiles
6.4.1 Asahi India Glass
6.4.2 BOROSIL RENEWABLES LIMITED
6.4.3 Emerge Glass
6.4.4 GM Glass Works No.2.
6.4.5 Gold Plus Float Glass
6.4.6 GUJARAT GUARDIAN LTD.
6.4.7 Nippon Sheet Glass Co., Ltd. (Pilkington)
6.4.8 Saint Gobain
6.4.9 SCHOTT AG
6.4.10 Şişecam Group
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The India Flat Glass Market market is studied from 2016 - 2026.
What is the growth rate of India Flat Glass Market ?
The India Flat Glass Market is growing at a CAGR of >4% over the next 5 years.
Who are the key players in India Flat Glass Market ?
- Asahi India Glass Limited
- GUJARAT GUARDIAN LTD.
- Glod Plus Float Glass
Are the major companies operating in India Flat Glass Market .