| Product Code: ETC355824 | Publication Date: Aug 2022 | Product Type: Market Research Report | ||
| Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India borosilicate glass market import shipment demonstrated robust growth with a CAGR of 14.5% from 2020 to 2024. Although the growth rate between 2023 and 2024 slightly decreased to 10.0%, indicating a possible stabilization, the overall trend suggests a continued expansion in the market.
The India borosilicate glass industry is projected to reach around USD 636 million by 2025 with a compound annual growth rate of 11%. This sector has been significantly driven by growing demand from various end-user industries such as pharmaceutical packaging, chemicals & reagents manufacturing units, and food & beverage manufacturers due to their excellent thermal shock properties and clarity over soda lime glasses. Government investments on infrastructural development projects coupled with rising disposable income have also led to greater demand for laboratory equipment made using borosilicate glasses resulting in strong market potential for the product across the country.
Borosilicate glass is gaining popularity in India due to its unique properties, including high resistance to thermal shock, chemical durability, and excellent optical clarity. This has led to its extensive use in laboratory equipment, cookware, and lighting fixtures. Additionally, the increasing demand for borosilicate glass in the pharmaceutical industry for packaging purposes is driving market growth. The glass`s ability to withstand high temperatures and maintain the integrity of medicines makes it a preferred choice for pharmaceutical packaging. Furthermore, the growing awareness of the eco-friendly and recyclable nature of borosilicate glass is also influencing its adoption in various industries, thereby boosting the market in India.
The borosilicate glass market in India is experiencing significant growth primarily due to its unique properties, such as high resistance to thermal shock and excellent chemical durability. These characteristics make it a preferred material for various applications, including laboratory equipment, cookware, and lighting fixtures. Additionally, the rising demand for borosilicate glass in the pharmaceutical industry for packaging purposes is a major driver for market growth. Its ability to withstand high temperatures and maintain the integrity of medicines makes it ideal for pharmaceutical packaging. Furthermore, the growing awareness of the eco-friendly and recyclable nature of borosilicate glass is also positively influencing its adoption in multiple industries, thereby boosting the market in India.
The borosilicate glass market in India faced various challenges during the COVID-19 pandemic. With the nationwide lockdown and disruptions in supply chains, production and distribution of borosilicate glass products were severely impacted. The closure of industries and restrictions on non-essential activities led to a decline in demand for laboratory equipment and cookware, affecting the market`s growth. However, the market showed resilience as the pandemic heightened the focus on healthcare and pharmaceuticals. The pharmaceutical glass packaging segment witnessed increased demand for storing and transporting medicines and vaccines. Moreover, the growing awareness of the importance of sustainable and eco-friendly materials further boosted the demand for borosilicate glass in various applications. As the restrictions eased and economic activities resumed, the market gradually recovered, with players adapting to new safety norms and exploring innovative solutions to meet the changing consumer needs.
In the India borosilicate glass market, key players include Borosil Limited, Duran Group, Corning Incorporated, Kavalierglass, and Schott AG. These companies are prominent manufacturers and suppliers of borosilicate glass products, catering to various industries such as laboratory equipment, cookware, pharmaceutical packaging, and lighting fixtures. They have established a strong presence in the India market, offering high-quality and innovative borosilicate glass solutions. With a focus on product development, sustainability, and customer-centric approaches, these key players continue to drive the growth of the borosilicate glass market in India.