By: LT COL SHAILESH PATHAK, Art-N-Glass Inc., Chandigarh Chapter of IGBC
I am not sure of the statistics but this is a huge market and growing at a rapid rate. As per the IMARC group report it was approx. 22,000 crores in 2022. So, with a conservative growth rate of 5% – 6%, it should be around 24,000 crores(approx.). Government projects and commercial projects have taken a new impetus, as well as residential projects in tier 2 and tier 3 cities have taken a big jump in this field.
Govt of India’s focus on infrastructure projects, road infrastructure, automotive infrastructure like metro and railways, sports infrastructure like stadiums and grounds, construction of new airports and airfields along with renovation and upgradation of old airports has driven this industry to great heights. Increased GDP and positive market sentiments, all are signs of a robust economy. This, fuelled by the middle-class growth story, resulted in an increased demand for housing.
So, there is a requirement for products related to façade and fenestration. Pre-engineered buildings and prefabricated buildings along with precast buildings have given a new twist to this requirement. Earlier our approach was very conventional but now our market has progressed towards world-class products and solutions.
I visualized more interactive and dynamic buildings which would follow the nature and weather conditions in the coming few decades or say 2050. Through these evolutions in the fenestration technologies and façade material are multi-dimensional and need long discussions and explanations. Evolutions in façade is crystal ball gazing but here I want to give you a few catchwords and phrases, which we all understand.
In my view following trends are more likely to be popular in future, which can be classified into four categories:
If we discuss a few unique technologies, they are enumerated below:
In my opinion, it will grow around 10 to 12 %, especially in the commercial and institutional sectors. In the residential sector, growth will be normal approx. 6-8%. But being a creative field, more innovative products, smart and futuristic products will become popular. More emphasis on the environment, so energy-efficient and green products will become common things.