The Indian glass market is estimated to increase at a CAGR of 15% over the next three years.
Fuelled by growth in sectors such as real estate, infrastructure, retail, automotive and food & beverages, the country's glass industry will acquire a market size worth Rs340 billion (approx. US$5.5 million) by 2015.
According to a study by industry body Assocham, the Indian market is currently valued at Rs225 billion.
The organised glass sector is dominated by large players such as ASAHI Glass India Ltd, Hindustan National Glass & Industries ltd, Piramal Glass, Saint-Gobain India, HSIL, Owen Corning, Triveni Glass, Borosil, Nippon Electric glass, Gujarat Borosil and Sezal Glass.
Moreover, 70% of the total glass production in the unorganised sector in India is contributed by Firozabad Glass Industry, which is India's biggest glass cluster.
About 75% of the total glass industries are concentrated in Uttar Pradesh, Maharashtra, Gujarat, Karnataka and Andhra Pradesh.
The per capita glass usage in India is 1.2kg compared with 8-9kg in developed countries and 30-35kg in the US, the study found.
The major export destinations of the glass industry are the US, China, Brazil and Germany. The countries from which the glass industry mainly imports are China followed by USA and Germany.
Source: Business Standard