Indian commercial glass market revenue is expected to be $4,629.8 million in 2028.
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According to statistics from the National Investment Promotion Agency, the Indian construction industry is expected to reach US$1.4 trillion by the end of 2025, making it the third-largest construction market in the world. The construction industry is the second-largest market for foreign direct investment in 2020-21, and statistics also show that the domestic real estate industry is expected to be close to $1 trillion in 2030, accounting for 13% of the country's GDP.
Kenneth Research has recently added a report on the ‘Indian Commercial Glass Market’ which includes a detailed analysis of the regulatory and standards landscape along with an analysis of the industry value chain over the forecast period 2021-2030. The market research report also focuses on the latest market dynamics, including key market opportunities and recent market trends related to market growth in the coming years. Furthermore, this report provides an in-depth analysis of the players operating in the market, competitive positioning, and production outlook.
Figure 1 The India's second largest flat glass processing factory: India Gold Plus Glass Industries Ltd.
The Indian construction industry is growing rapidly due to the increasing focus of the Indian government on developing business infrastructure, including smart cities. Among other statistics from the National Investment Promotion and Promotion Agency, as of June 2021, 5,956 smart city projects have completed 2,734 projects. With the development of the construction industry, the demand for different types of building materials including products such as commercial glass is also rapidly increasing, a factor expected to drive the growth of the commercial glass market in India. The market revenue in 2020 was USD 2,546.1 million and is expected to reach USD 4,629.8 million by the end of 2030, representing a CAGR of 6.42% during the forecast period.
The national market is also expected to grow owing to the increasing use of commercial glass in solar panel manufacturing. Over the past few years, the country has shifted its focus to the use of renewable energy, which has boosted the demand for solar panels. According to statistics from the Brand Equity Foundation of India, the adoption of renewable energy in India has increased by 250% between 2014 and 2021. In addition to this, in July 2021, the Ministry of New and Renewable Energy plans to launch the second phase of the rooftop solar program, which will encourage the deployment of rooftop solar across the country, and the plan also states that 4,000 MW will be installed in the residential sector by 2022 deployment of rooftop solar; on the other hand, the market growth can also be attributed to the growing demand for commercial glass from the automotive industry. According to the International Organization of Motor Vehicle Manufacturers, the total production of automobiles and commercial vehicles in the country increased from 2,831,542 and 725,531 in 2010 to 3,622,225 and 892,682 in 2019, respectively.
Figure 2 Indian will run luxury trains with glass roofs
Product Category
Product Classification
The Indian commercial glass market is divided into borosilicate glass, soda-lime glass, potassium lime glass, potassium lead glass, silica glass, and others by commercial composition. Among these products, lime glass generated the largest revenue of $795.9 million in 2020 and is expected to reach $1,414.4 million by the end of 2030.The Indian commercial glass market is segmented by glass type into flat glass, fiberglass, container glass, and specialty glass. Among these products, the container glass segment is expected to receive the largest $2,048.7 million by the end of 2030, up from $1,154.9 million in 2020.
The Indian commercial glass market is also segmented based on product type, manufacturing process, and end-use industry.
By product type
Annealed glass, Coated glass, Reflective glass, Deep processing glass, Mirror, others
By manufacturing process
Float glass process, glass blowing
By end-use industry
Automotive Industry, Construction Industry, Pharmaceutical Industry, Food and Beverage, Solar Energy, Others
Notable Indian commercial glass companies included in the report include National Glass&Industries Limited, PGP Glass Private Limited, Asahi India Glass Limited, India Private Limited, Glass Wall Systems, Duratuf Glass Industries(P) Ltd., GSC GLASS LTD, and more.
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