India Market Study on Bullet-Resistant Glass: Automotive Industry to Dominate Demand for Bullet-Resistant Glass over the Forecast Period 2016 - 2024


  • Published On : Aug-2016 |
  • Pages : 111 Pages |
  • Format :

The Persistence Market Research (PMR) report on bullet-resistant glass analyzes opportunities in the market and presents updates and insights pertaining to various segments of the market in India over the forecast period, 2016–2024.

Bullet-resistant glass, also known as ballistic glass, is an optically transparent armor resistant to penetration of high-velocity bullets.  Bullet-resistant glass finds application in bank security barriers, security outposts, armored cash trucks, ATM booths, toll booths, fuel stations, display cases, residential construction, hotels, malls, premium vehicles, military vehicles, and high-speed trains, among others. Bullet-resistant glass is preferred at locations vulnerable to man-made disasters.

To understand consumption patterns and assess opportunities in the bullet-resistant glass market in India, the report is divided into four sections, namely, by product type, by BRG class/standard, by application, and by a state. The report analyzes the bullet-resistant glass market in India in terms of market volume (square meters) and market value (INR Mn). The report covers the bullet-resistant glass market performance in terms of value and volume contribution. The report also includes PMR’s analysis of drivers and restraints witnessed in the market. Key trends observed across the value chain are also included in the report. The report highlights existing opportunities in the domestic market to equip the client with crystal-clear, decision-making insights.

The subsequent sections analyze the bullet-resistant glass market on the basis of product type, BRG class, application, and state, and presents forecast for the period 2016–2024. The market is segmented as follows:

By Product Type

  • Polycarbonate
  • Acrylic
  • Glass-clad Polycarbonate
  • Poly-vinyl Butyral (PVB)

By Application

  • Financial Services
  • Automotive
  • Buildings
    • Residential
    • Commercial

BRG Class

  • BR1
  • BR2
  • BR3
  • BR4
  • BR5
  • BR6
  • BR7
  • Others

State

  • Delhi
  • Maharashtra
  • Tamil Nadu
  • Karnataka
  • Gujarat
  • Punjab
  • Haryana
  • Uttar Pradesh
  • West Bengal
  • Madhya Pradesh
  • Rest of India

To deduce the market size, the report considers various aspects based on secondary research. Furthermore, key data points such as state-wise split and market split by product type and application, and qualitative inputs from primary respondents have been incorporated to arrive at appropriate market estimates. The forecast presented in the report assesses total revenue generated and expected revenue contribution by the bullet-resistant glass market.

The report begins with sizing the base year in terms of value and volume. This forms the basis for forecasting how the market is anticipated to take shape in the near future. Given the characteristics of the market, PMR triangulates the data via a different analysis based on the supply side, demand side, and dynamics of the bullet-resistant glass market. To develop the market forecast, PMR conducted a factor analysis to understand the impact of various forces/factors on the target market. However, quantifying the market across the abovementioned segments is more a matter of quantifying expectations and identifying opportunities rather than rationalizing them after the forecast has been completed.

It is imperative to note that in an ever-fluctuating economy, we not only provide forecasts in terms of CAGR but also analyze on the basis of key parameters, such as year-on-year (Y-o-Y) growth, to understand predictability of the market and identify the right opportunities.

Another key feature of this report is an analysis of the bullet-resistant glass market and the corresponding revenue forecast in terms of absolute dollar opportunity. This is usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the bullet-resistant glass market in India.          

To understand key segments in terms of their growth and performance in the bullet-resistant glass market, Persistence Market Research has developed a market attractiveness index. The resulting index should help providers identify existing market opportunities in the bullet-resistant glass market.

The report covers an in-depth analysis of all components of the value chain in the bullet-resistant glass market in India. Furthermore, company share analysis of key market participants has been included to provide a brief overview of existing market potential.

In the final section of the report on the bullet-resistant glass market in India, the competitive landscape is included to provide a dashboard view of bullet-resistant glass manufacturers and fabricators in the country. The report contains company profiles of some key players in the market.

Some market players featured in this report are as follows:

  • Saint-Gobain India Pvt. Ltd.
  • Asahi India Glass Limited
  • Gujarat Guardian Ltd.
  • Duratuf Glass Industries (P) Ltd.
  • Jeet & Jeet Glass and Chemicals Pvt. Ltd.
  • Gold Plus Glass Industry Limited
  • FG Glass Industries Pvt. Ltd.
  • Chandra Lakshmi Safety Glass Ltd.
  • Fuso Glass India Pvt. Ltd.
  • Art-n-Glass Inc.
  • Gurind India Pvt. Ltd.

Bullet-resistant glass is produced using ballistic materials such as polycarbonate, acrylic, glass-clad polycarbonate, and thermoplastics that can withstand any damage from small projectiles and bullets. Bullet-resistant glass is offered in varying thickness according to end user demand. End users of bulletproof security glass include financial services industry, automotive industry, construction industry, and others such as marine industry and aerospace industry. In this report, the bullet-resistant glass market in India is categorized by product type, BRG standard, application, and state. By product type, the market is segmented into polycarbonate, acrylic, glass-clad polycarbonate, and poly-vinyl butyral (PVB). By BRG standard, the market has been segmented according to European Standard ‘EN 1063’, classifying bullet-resistant glass from class B1 to B7 and special class (SG1 and SG2) depending upon the protection level required.

In terms of volume, the India bullet-resistant glass market was pegged at 129.8 ‘000 sq. m. in 2015 and is anticipated to grow substantially over the forecast period. PMR forecasts the bullet-resistant glass market in India to expand at a volume CAGR of 6.5% over 2016–2024 based on various factors, regarding which PMR offers in-depth insights in the report.

Increasing economic output and defense investments as well as growth of construction, financial, and automotive sectors are factors expected to significantly impact growth of the bullet-resistant glass market in India. The automotive sector is the largest end-user for bullet-resistant glass in India, with increasing number of HNWIs opting for armored vehicles, which in turn drives demand for bullet-resistant glass. Furthermore, ongoing infrastructural developments in the financial sector offer various opportunities for bullet-resistant glass manufacturers in India, as financial institutions, especially in rural areas, are vulnerable to burglary and vandalism.

Failure of locally manufactured bullet-resistant glass to meet international quality standards, high costs of raw materials, and low-cost imports from China are factors anticipated to adversely hamper the growth of the bullet-resistant glass market in the country over the forecast period.

Key trends identified in the bullet-resistant glass market in India are a focus of players to provide customized bullet-proofing solutions to customers, partnering with defense organizations to meet specific product needs, and focus on providing value-added products that provide add-on features such as heat insulation/fireproof and UV protection.

By product type, glass-clad polycarbonate segment is anticipated to maintain dominant share over the forecast period and expand at a volume CAGR of 7.6% over 2016–2024. PVB and polycarbonate segments are expected to collectively account for 46.0% share of the bullet-resistant glass market in terms of volume by the end of 2024. The market share of an acrylic segment is anticipated to be minimal over the forecast period due to a use of acrylic in applications requiring low levels of protection.

By application, an automotive segment is expected to remain dominant over the forecast period; however, financial services segment is expected to register robust growth and expand at a volume CAGR of 7.2% over 2016–2024. Demand for bullet-resistant glass from building segment is expected to remain low in India owing to high costs of the product. In building segment, commercial buildings sub-segment is expected to expand at the highest CAGR of 5.1% in terms of volume over the forecast period.

India Bullet-resistant Glass Market Volume Forecast (Sq. M.) by Application, 2015–2024

                      

india-bullet-resistant-glass-market

By BRG class, BR4, BR5, and BR6 segments are anticipated to account for over 3/4th of the total market volume by the end of 2016 and expand at volume CAGRs of 7.0%, 6.4%, and 6.1%, respectively, over the forecast period. BR1 and BR2 segments are expected to hold minimal shares throughout the forecast period.

The report on the bullet-resistant glass market in India is also segmented on the basis of states into Delhi, Maharashtra, Tamil Nadu, Karnataka, Gujarat, Punjab, Haryana, Uttar Pradesh, West Bengal, Madhya Pradesh, and rest of India. Demand for bullet-resistant glass is expected to be the highest in Maharashtra over the forecast period, followed by Tamil Nadu and Delhi.

Key Players

Some key players profiled in the report are Saint-Gobain India Pvt. Ltd., Asahi India Glass Limited, Gujarat Guardian Ltd., Duratuf Glass Industries (P) Ltd., Jeet & Jeet Glass and Chemicals Pvt. Ltd., Gold Plus Glass Industry Limited, FG Glass Industries Pvt. Ltd., Chandra Lakshmi Safety Glass Ltd., Fuso Glass India Pvt. Ltd., Art-n-Glass Inc., and Gurind India Pvt. Ltd.

Company Profiles

  • Saint-Gobain India Pvt. Ltd.
  • Asahi India Glass Limited
  • Gujarat Guardian Ltd.
  • Duratuf Glass Industries (P) Ltd.
  • Jeet & Jeet Glass and Chemicals Pvt. Ltd.
  • Gold Plus Glass Industry Limited
  • FG Glass Industries Pvt. Ltd.
  • Chandra Lakshmi Safety Glass Ltd.
  • Fuso Glass India Pvt. Ltd.
  • Art-n-Glass Inc.
  • Gurind India Pvt. Ltd.
  • Other
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