INDIA BULLET RESISTANT GLASS MARKET ANALYSIS

Market Challenges And Opportunities

India Bullet Resistant Glass Market - Restraints

• Bullet-resistant glass produced in India fails to meet international regulatory standards

The majority of bullet-resistant glass produced in India fails to meet international regulatory standards, such as Europe’s EN 1063, which is expected to create a negative brand image of bullet-resistant glass produced in India. Additionally, non-compliance with international quality standards further impact bullet-resistant glass demand from India, thereby hindering the market growth. Moreover, increasing demand for bullet

• Increasing import of bullet-resistant glass in India

The increasing import of bullet-resistant glasses in India, as the country provides low-cost products adversely affected the domestic production of bullet-resistant glass. According to Coherent Market Insights’ analysis, China accounts for around 60% of the total safety glass (laminated and tempered) imports to India.

Market Opportunities

• Emerging applications of bullet-resistant glass

The emerging applications of bullet-resistant glass, such as ATM booths, residential buildings, and armored cash trucks, are expected to provide potential growth opportunities for India bullet-resistant glass market. ATMs and banks have emerged as the leading applications of bullet-resistant glass due to the growing need for safety and security  coupled with the expanding banking sector in India.

• Developing the product with add-on features

Manufacturers in India bullet-resistant market are developing products with add-on features such as fireproof and UV protection glasses. This is expected to provide enormous growth opportunities to the India bullet-resistant glass market over the forecast period. Such glasses are widely adopted across high-security government buildings and the financial sector.

India Bullet Resistant Glass Market - Growth Drivers

• Growing demand from the automotive industry

The growing product demand from the automotive industry due to the rising demand for premium vehicles with value-added features is expected to fuel India bullet-resistant glass market growth. India’s automotive industry has grown significantly over the last few years due to the rising production of automobiles in the country. This is expected to fuel the market growth over the forecast timeframe.

• Increasing financial infrastructure projects in India

The evolving financial infrastructure in India coupled with rising security concerns has boosted the demand for bullet-resistant glass. The government of India is investing heavily in order to expand the financial sector of the economy. Moreover, the growing per capita income of consumers due to economic growth is expected to propel India bullet-resistant glass market over the forecast period.