New York, Feb. 15, 2022 (GLOBE NEWSWIRE) -- According to the statistics by the National Investment Promotion & Facilitation Agency, by the end of 2025, the construction industry in India is anticipated to reach USD 1.4 Trillion and also register as the third-largest construction market globally. Moreover, in the year 2020-21, the sector was the second-largest recipient of foreign direct investments (FDI). Additionally, the statistics also stated that by 2030, the real estate industry in the nation is anticipated to reach close to USD 1 Trillion and contribute to 13% of the nation’s GDP.
Kenneth Research has recently added a report on “India Commercial Glass Market” which includes a detailed analysis of the regulatory & standards landscape, along with the industry value chain analysis during the forecast period, i.e., 2021-2030. The market research report also focuses on the latest market dynamics, including the key market opportunities and the recent market trends that are associated with the market growth in the coming years. Besides this, an in-depth analysis of the players operating in the market, along with their competitive positioning and their production outlook is also studied in this report.
The construction industry in India is growing rapidly, backed by the increasing focus of the government of the nation in developing commercial infrastructure, including smart cities. In the other statistics by the National Investment Promotion & Facilitation Agency, till June 2021, 2734 projects under the Smart Cities Mission have been completed of the total 5956 projects. With the growing construction industry, the demand for different types of construction materials, including products such as commercial glass, is also increasing rapidly. Such a factor is anticipated to drive the growth of the India commercial glass market. The market generated a revenue of USD 2546.1 Million in the year 2020 and is further expected to touch USD 4629.8 Million by the end of 2030, by growing with a CAGR of 6.42% during the forecast period.
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The market is also anticipated to grow in the nation on account of the growing use of commercial glass in the making of solar panels. Over the past few years, the nation has shifted its focus towards the use of renewable energy, which is contributing to the demand for solar panels. According to the statistics by the India Brand Equity Foundation (IBEF), the adoption of renewable energy in India increased by 250% between 2014 and 2021. Besides this, in July 2021, the Ministry of New and Renewable Energy has planned to undertake the Rooftop Solar Program Phase II, which would encourage the deployment of rooftop solar (RTS) throughout the country. The initiative also aims to install RTS capacity of 4000 MW in the residential sector by 2022. On the other hand, the growth of the market can also be attributed to the growing demand for commercial glass from the automotive industry, backed by the rise in the production of different types of vehicles in the nation. According to the statistics by the International Organization of Motor Vehicle Manufacturers (OICA), the total production of cars and commercial vehicles in the nation increased from 2831542 units and 725531 units respectively in the year 2010 to 3622225 units and 892682 units respectively in the year 2019.
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The India commercial glass market is segmented by commercial composition into borosilicate glass, soda lime glass, potash lime glass, potash lead glass, silica glass, and others. Among these segments, the soda lime glass segment generated the largest revenue of USD 795.9 Million in the year 2020 and is further expected to touch USD 1414.4 Million by the end of 2030.
The India commercial glass market is further segmented by glass type into flat glass, fiber glass, container glass, and specialty glass. Amongst these segments, the container glass segment is anticipated to garner the largest revenue of USD 2048.7 Million by the end of 2030, up from a revenue of USD 1154.9 Million in the year 2020.
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The India commercial glass market is also segmented on the basis of product type, manufacturing process, and by end-use industry.
India Commercial Glass Market, Segmentation by Product Type
- Annealed Glass
- Coater Glass
- Reflective Glass
- Processed Glass
- Mirrors
- Others
India Commercial Glass Market, Segmentation by Manufacturing Process
- Float Glass Process
- Glass Blowing
India Commercial Glass Market, Segmentation by End-Use Industry
- Automotive
- Construction
- Pharmaceutical
- Food & Beverages
- Solar Energy
- Others
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Some of the prominent industry leaders in the India commercial glass market that are included in our report are Hindustan National Glass & Industries Limited, PGP Glass Private Limited, Asahi India Glass Limited, Saint-Gobain Group, Gold Plus Float Glass, Sejal Glass Ltd, FUSO Glass India Private Limited, Glass Wall Systems, Duratuf Glass Industries (P) Ltd., GSC GLASS LTD, and others.
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