India: Flat Glass Market 2024

Flat Glass Market Size in India

After four years of growth, the Indian flat glass market decreased by -1.6% to $X in 2021. In general, the total consumption indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +67.3% against 2016 indices. Over the period under review, the market reached the peak level at $X in 2020, and then reduced in the following year.

Flat Glass Production in India

In value terms, flat glass production shrank to $X in 2021 estimated in export price. Overall, the total production indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +81.0% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 37% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then declined in the following year.

Flat Glass Exports

Exports from India

After two years of decline, overseas shipments of flat glass increased by 26% to X tons in 2021. Over the period under review, total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -15.5% against 2018 indices. The pace of growth appeared the most rapid in 2018 with an increase of 90% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, flat glass exports skyrocketed to $X in 2021. In general, exports enjoyed a moderate increase. The pace of growth was the most pronounced in 2018 when exports increased by 102%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Nepal (X tons), Sri Lanka (X tons) and Qatar (X tons) were the main destinations of flat glass exports from India, together accounting for 51% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Qatar (with a CAGR of +31.8%), while the other leaders experienced more modest paces of growth.

In value terms, Nepal ($X), Sri Lanka ($X) and Qatar ($X) constituted the largest markets for flat glass exported from India worldwide, together comprising 51% of total exports.

In terms of the main countries of destination, Qatar, with a CAGR of +31.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average flat glass export price amounted to $X per ton, surging by 5.5% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 49%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Tanzania ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.

Flat Glass Imports

Imports into India

After three years of decline, supplies from abroad of flat glass increased by 48% to X tons in 2021. Overall, imports showed strong growth. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, flat glass imports skyrocketed to $X in 2021. In general, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -14.2% against 2018 indices. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest flat glass supplier to India, accounting for a 30% share of total imports. Moreover, flat glass imports from Malaysia exceeded the figures recorded by the second-largest supplier, Singapore (X tons), twofold. The third position in this ranking was taken by Indonesia (X tons), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Malaysia amounted to +57.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+68.1% per year) and Indonesia (-2.6% per year).

In value terms, the largest flat glass suppliers to India were Malaysia ($X), Singapore ($X) and Indonesia ($X), with a combined 58% share of total imports.

Singapore, with a CAGR of +67.0%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average flat glass import price stood at $X per ton in 2021, increasing by 8.1% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+1.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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