Glass is environment friendly and has immense growth opportunities in India, as the country is one of the fastest growing economies in the world. In 2013, the market size of Glass industry in India was INR 225 Billion as per ASSOCHAM. RNCOS believes that market is projected to grow at a CAGR of 18% over the period 2014-2018, revenue reaching to INR 523 Billion by 2018.
Emphasizing on potential of this industry, Shushmul Maheshwari, CEO – RNCOS said that expansion of construction and automobile industries in India and significant rate of urbanization have been the major growth drivers of this industry. He also highlighted that there is an increase in the demand for reflective and decorative glasses with digital print technology in the country which is expected to impel the growth of the Indian glass market.
Our analysis suggests that keeping in mind both container and flat glass market, northern and western region will cater substantial revenue in overall glass market in next five years majorly due to higher rate of urbanization and higher building construction in these zones. The Beer segment is anticipated to drive the container glass segment in future due to higher per capita expenditure, government policies. Higher demand in cosmetics and cosmeceutical segment will also intensify the container glass market in the country in future by 2018. On the other hand, glass manufacturing companies are expected to incline their capacity expansion in the coming years which will fulfill the demand for glasses in different application areas.
Indian Glass Industry is providing significant opportunity to develop value added products such as reflective and tinted glasses in the next few years which will stimulate the growth of the industry. RNCOS acts as your growth partner in all your business endeavors, be it product launching, geographic expansion, sales improvement, distributor/retailer tie-ups etc. We help to make your business flourish by studying the market dynamics, collating with you business and devising the right strategies.
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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.