Project report for Tempered or toughened glass

In India, Tempered glass production generates about Rs 3 to 4 lakh in monthly revenue, which makes it one of the best innovative business ideas. The safety and strength of tempered glass make it easier to use in a variety of demanding applications. A tempered glass manufacturing company is one of many businesses that can be started in any part of the world, and the business owner can still tap into the global market by simply exporting the goods. There is no need to rent an office.Because of its increased strength and safety, builders and architects utilize them in a multitude of demanding applications. This includes showers, vehicle windows, refrigerator trays, glass tables, diving masks, glassware, cookware, fireplace grates, bulletproof windows, architectural glass doors and virtually anywhere else that needs safe and strong glass.

Tempered or toughened glass is a type of safety glass processed by controlled thermal or chemical treatments to increase its strength compared with normal glass. Tempering puts the outer surfaces into compression and the interior into tension. Such stresses cause the glass, when broken, to shatter into small granular chunks instead of splintering into jagged shards as ordinary annealed glass does. The granular chunks are less likely to cause injury. Tempered glass is used for its safety and strength in a variety of applications, including passenger vehicle windows, shower doors, aquariums, architectural glass doors and tables, refrigerator trays, mobile phone screen protectors, bulletproof glass components, diving masks, and plates and cookware.

The Indian flat glass market was valued at over INR 14900 Crores in 2020 and the market is projected to register a CAGR of more than 4% during the forecast period (2021-2026). With increased transportation facilities the demand of the product is increasing at a steady pace especially in the automobile industry, railways, ships building both for production and replacement. Local market and advertisement have become very essential for the success of any business activity. As such it is found to have scope for starting new small - scale units for the manufacture of Toughened glass to meet the growing demand. the major factors driving the growth of market studied are increasing demand from the construction industry in which glasses are being used in windows, facades, doors, interior partitions, balustrades, shop fronts, and railings for stairs and balconies, among other building parts. Moreover, growing demand for electronic displays as the increasing demand for consumer electronics, such as televisions, smart phones, tablets, laptops, wearables, and other devices is also a factor, driving the market growth.

Due to COVID-19, India entered a complete lockdown scenario in late March, and the economic activities started resuming slowly in a step-by-step manner from early August 2020. As per a recent report by the National Statistical Office (NSO), the country’s GDP contracted by 23.9% in the April-June period (Q1) of 2020. The outbreak of COVID-19 has affected the domestic construction, industrial and manufacturing activities during 2020, due to which the country recorded a negative GDP growth rate of -10.3% in 2020. The construction sector is expected to recover, as most of the related industries started their operations in the first week of August, however most of the projects which were scheduled in 2020 had been postponed. Thus, the growth is expected to pick take up pace in the later part of the forecast period.