India Flat Glass Market Focuses on SWOT analysis, Industry Synopsis

Market Trends for India Flat Glass in the Global Industry Acquire a Massive Increase in the Next Few Years Contains information on the state of growth, competitive environment, and development model in various parts of the world. The India flat glass market is expected to register a CAGR of 8% over the forecast period 2020 to 2025. This study focuses on niche markets, potential risks, and detailed strategic strategy analysis across a variety of industries. Competitive Advantage in the Global Nano Sensors Industry

Rapid industrialization and urbanization in India, combined with the adoption of smart and energy-efficient technology as advanced construction practice have a positive influence on the flat glass demand. Moreover, India‘s construction sector is likely to outpace other countries.

– According to the Indian Brand Equity Foundation (IBEF), the Indian real estate industry is likely to reach USD 1 trillion by 2030 and may contribute approximately 13% to the country’s GDP by 2025. This is likely to increase the demand for flat glass and propel its market in the region.
– Besides the construction industry, which represents a sizeable share of product demand, the solar industry is predicted to be a lucrative application segment for the coming years.- The Indian renewable energy sector is the fourth most attractive renewable energy market in the world and looks to meet its energy demand on its own, which is expected to reach 15,820 TWh by 2040. As a part of its Paris Agreement commitments, the Government of India has set an ambitious target of achieving 175 GW of renewable energy capacity by 2022. These include 100 GW of solar capacity addition and 60 GW of wind power capacity. The growing solar energy market in India is likely to propel the growth of the market.

Key Market Trends
Construction Industry to Hold the Highest Market Share of the Market
– The Indian glass industry growth has been driven primarily by the construction sector. Moreover, 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 in India.
– 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.

Use of Flat Glass in Automotive Applications is Expected to Drive the Market

– India is a prominent auto exporter and has strong export growth expectations for the near future. Automobile exports grew 14.50 percent during FY19. It is expected to grow at a CAGR of 3.05 percent during 2016-2026. Also, several initiatives by the Government of India and the major automobile players in the Indian market are expected to make India a leader in the two-wheeler and four-wheeler market in the world by 2020.
– Increasing per-capita disposable incomes along with rising automotive production may drive flat glass demand. Moreover, the market is likely to witness growth in the automotive segment as it has a high resistance to penetration and ensures safety for passengers. It is also effective in reducing the noise coming from the engine and prevents the deterioration of interior plastics & leather by blocking UV rays as flat glass is produced from vacuum insulated glass technology that ensures heat and sound insulation.

Competitive Landscape
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, Gujarat Guardian Limited (MODIGUARD), Gold Plus Glass Industries Limited, and HNG Float (HNGIL) among others.