(PRWEB) February 21, 2013
The Indian glass industry witnessed phenomenal growth in the past few years. The industry is poised to further witness growth at a CAGR of 14.78% in the next five years on the sidelines of growth in real estate sector, infrastructural development, and growth in food & beverage sectors. The growth in the Indian glass industry is dominated by container glass segment, which accounts for majority of the sales in terms of volume.
The majority of the sales in terms of value was dominated by float glass segment and further in the coming years sales in float glass segment of the Indian glass industry will increase on the sidelines of real estate growth across retail, residential and office estate.
According to a recently published report by TechSci Research ‘India Glass Market Forecast & Opportunities, 2017’ the specialty glass segment of Indian glass market will grow manifold in the next five years. Majority of the players in the Indian glass market will have specialty glass in their portfolios by 2017. Mergers & acquisition activities will enhance the production in specialty glass segment in the coming years.
The demand for automotive glass in India is increasing drastically because of the entry of foreign automobile manufacturers and as the Indian automotive glass manufacturers are not able to fulfill the demand, which provides an excellent opportunity for foreign automotive glass manufacturers to capture the Indian glass market. ‘The industry faces challenges in the raw material front; increasing prices of soda ash, borax and furnace oil have drastically decreased margins of Indian manufacturers in the past few years. Mergers & acquisitions will play the key role in the years to come in the Indian glass industry, especially in the raw material front and technology front “said Karan Chechi, Research Director, at TechSci Research.
“India Glass Market Forecast & Opportunities, 2017” has evaluated the future growth potential of global and India glass market and provides statistics and information on market structure of the glass industry. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by the manufacturers in the Indian glass industry.