Pakistan’s Glass Market Research

1.Overall size of the market:

• Pakistan’s glass manufacturing sector comprises of ~5-6 large players

and a number of smaller players, competing across various product
segments such as float glass, containers and tableware. The sector
caters both direct consumers’ demand as well as demand emanating
from various industries such as construction, pharmaceuticals and food
& beverages.
• The production of glass plates and sheets has been on a declining
trend since FY19 and stood at ~12mln Sq M in FY21 as compared to
~17mln Sq M in FY20. • A significant share of the local demand is also
met through imports which stood at USD~108mln in FY21, as compared
to USD~81mln in FY20. The largest import segments are glass fibres
(~29%) and glass tableware (~18%).
• Meanwhile, exports of glass products has been steadily increasing and
stood at USD~27mln in FY21 as compared to USD~20mln in FY20. The
largest export segment is float glass (~44%)

Listed Glass Manufacturers on Pakistan Stock Market

 Balochistan Glass Limited
 Ghani Global Glass Limited
 Ghani Glass Limited
  Ghani Value Glass Limited
 Tariq Glass Industries Limited
 Gunj Glass
 Ali Glass

2. Market Segments:

There are three broad categories or segments of glass manufacturers

currently operating within Pakistan:

Float Glass:
This type of glass is largely used in construction for windows with
different varieties that include clear, tinted and mirrored float glass.
There are 3 main players in this segment (Tariq Glass, Ghani Glass and
Ghani Value Glass) with an estimated production capacity of ~1600
Tons per day.
List of float glass used in Pakistan
 Annealed glass.
 Tempered glass.
 Insulated glass.
 Laminated glass.
 Coated glass.
 Decorative glass.
Tableware:
This includes products such as dinner sets, cups and mugs etc. Tariq
Glass is the largest players in this segment (~60% of total production
capacity) while a number of other players are also operating within this
segment such as Balochistan Glass and Gunj Glass. The estimated total
production capacity of this segment stands at ~570 Tons per day.

Containers:
This segment can be further divided into:
Food & Beverage Containers:
This includes products such as Pyrex containers and jars for food as well
as glass bottles used for carbonated beverages. The main players in this
segment are Ghani Glass, Murree Brewery and Tariq Glass with an
estimated production capacity of ~435 Tons per day.
Pharmaceutical Containers:
This segment includes medicine bottles and containers of different
specifications as well as vials, ampoules and tubes (which are converted
into ampoules). Ghani Global is the only local manufacturer of tubes,
with the remaining demand being met through imports, and occupies a
market share of ~54% in this sub segment. In the ampoules sub-
segment, there is significant competition with Ghani Global accounting
for ~16% of ampoules supply. Other large manufacturers of ampoules
include pharmaceutical companies meeting their own requirements
such as Sami, Bosch and Indus as well as commercial producers such as
Friends Glass and Techno Glass. Ghani’s total manufacturing capacity
stands at ~24 Tons per day. Meanwhile, Ghani Glass holds significant
market share in medicine bottles sub-segment with a production
capacity of ~315 Tons per day.

3.Imports and export:

The import of glass products has largely moved in contrast to local
production, increasing in years where local production has declined and
falling when local production rises. Meanwhile, glass exports have
exhibited a consistent growth trend in recent years.
 Float glass makes the largest contribution to exports (~44%)
followed by glass containers (~28%) and glass tableware (~18%).
 As float glass makes largest contribution to exports, it indicates
that Pakistan’s float glass consumption is fulfill by its local
production, and the remaining is exported. Local market needs
are cater by local producers.
 Meanwhile, for imports the largest segment is glass fibres (~29%)
followed by glass tableware (~18%), containers (~15%).
 The above mentioned segments, could led us to the
opportunities, to market in the Pakistani market
 .

4.Business Risk:

Demand Drivers: The glass sector derives its demand from a number of
industries including construction, food & beverages and the
pharmaceutical industry. While the food & beverage as well as
pharmaceutical industries have relatively inelastic demands they
account for smaller segments within the glass sector.
The largest segment is float glass which derives its demand from the
construction industry. Demand from the construction industry can
fluctuate depending on overall economic conditions. In addition, the
purchasing power of end consumers is also reduced during periods of
economic downturn which can reduce demand for the some segments
such as glass tableware.
Competition: The level of competition varies across different product
segments with certain segments such as containers having a significant
level of competition. In addition, a significant level of demand is also
being catered to by the import segment which increases the
competition level.

5. Analysis on SBP Data:

Data SBP glass Imports $(000)

Cullet and other Waste and Scrap of Glass 13,110

Glass in Balls, Rods or Tubes Unworked 1,039,663
Cast and Rolled Glass in Sheets or Profiles etc. 142,831
Drawn and Blown Glass in Sheets etc. 101,246
Float Glass and Surface Ground or Polished 647,510
Glass of Bent, Edge worked, Engraved or Framed 246,978
Safety Glass of Toughened, Tempered or 524,872
Multiple-Walled Insulating Units of Glass 9,545
Glass Mirrors, Framed or Not, Including 700,399
Glass Containers for Packing etc and Glass 2,509,338
Glass Envelopes, Bulbs and Tubes, Open and 20,006
Glass for Vacuum Flasks and other Vacuum 2,244
Glassware for Table, Kitchen, Toilet etc. NES 3,187,310
Signaling Glassware and Glass Optical 9,145
Glasses of Clock, watch, Spectacle etc. 5,788
Glass Paving Blocks, Bricks, Squares, Tiles and 34,647
Laboratory, Hygienic or Pharmaceutical 109,395
Glass Bead etc. and Articles NES 1,260,157
Glass Fibers and Articles Thereof (Yarn Etc.) 5,049,202

As from glass import data, it is concluded that glass fibers and glass
ware are the most favorite imported glass products, which has
considerable market in Pakistan, these two segments provides us
opportunities to work on them, but the float glass import figures are
almost negligible as compare to its glass market, which indicates that
it’s not favorite for importers, further details are given in conclusion.
6. Conclusion:

The Pakistan glass market has three main segments; float glass, table
ware and containers, from which float glass has considerable market
share. Unfortunately, since 2002 the decline in the imports of float
glass has been stated and it continued till now and specially in 2011,
with the establishments of two more glass manufacturing plants and
anti-import policies, the imported float glass market was effected
adversely and the Pakistani glass market started to become
monopolistic market, where 5 to 6 major player are manipulating the
market. In my conversation with the former known importer, I get to
know that, after 2015, two to three companies tried to enter in the
Pakistani glass market, but the big players started to manipulate the
market, by declining the prices to the considerable amount, when they
came to know that the LC is issued by SPB and the glass containers are
being cleared, in this way the imported companies and importers
suffered. On, the other hand Pakistan is also becoming emerging
exporter of float glass, according to available data, this also indicates
the local companies are fulfilling the local demand of float glass and

As in the float glass segment, we do not have sound opportunities, we

could have opportunities if look into table ware and glass fibers.