Increasing automobile sales and surge in research and development investment across the world to drive global automotive glazing market.
According to TechSci Research report “Automotive Glazing Market - Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2016-2026”, the global automotive glazing market is expected to grow at a CAGR of 8.55% in value terms in the next five years to reach USD24,353.29 million by 2026. The growing production of vehicles and booming demand for passenger safety is aggravating the demand for automotive glazing as it acts as a safety shield for the vehicles at the time of collision.
Automotive glazing is one of the crucial components of automobiles and is generally incorporated in windshields, sidelights, and sunroofs in some vehicles. Automobile manufacturers are also adding a roof support structure made of glazing on either side of the rear window known as the C pillar window. The improved product offering is the primary reason for the addition of sunroofs in vehicles, and therefore there is a common trend to implement them in premium passenger cars. Increased installation or adoption of sunroof feature in vehicle is bolstering the growth of the automotive glazing market.
Many automotive manufactures are using coating in windshield glasses to protect vehicles from harmful radiations of infrared and UV rays. Reflective coatings are done in front and back of windshields. To protect the vehicle from UV and Infrared rays, ceramic coatings are done between the layers of the windshield glasses. These coatings last around 1-3 years in any vehicle therefore, there will be a need to change the glazing of the glass or replace it with the new one. So, the need to change the coating in vehicles over a certain period is propelling the growth of the automotive glazing market.
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Global Automotive Glazing market can be segmented based on by product, application, vehicle type, company and region. In terms of vehicle type, the market is segmented into passenger cars, light passenger vehicles, medium and heavy commercial vehicles. The demand for passenger car glazing has increased significantly in the past few years globally. The passenger car glazing segment accounted for 79.99% market share in 2020 and the segment’s share is projected to reach around 80.15% by 2026. In the past few years, a significant rise in the SUV sales has been observed in all the regions. SUVs have the most utilization of automotive glazing in the passenger car segment as most of the SUVs come with the sunroof and C-pillar which leads to higher demand for glazing.
Automotive glazing has stringent standards called Automotive Glass Replacement Safety Standard (AGRSS) implemented by the Auto Glass Safety Council (AGSC) for the installation or replacement of windshields in vehicles. Hence, only handful companies hold significant share in the market.
Some of the major players operating in the global automotive glazing market are:
· Covestro AG
· Fuyao Glass Industry Group Co., Ltd.
· AGC Inc.
· Nippon Sheet Glass Co., Ltd
· Corning Incorporated
· Webasto Group
· Central Glass Co., Ltd.
· Schott AG
· Saint-Gobain Group
· Vitro, S.A.B de C.V
Market players are investing in technological advancements so that weight of the glazing can be reduced while making it safer, flexible and durable. Auto-component major, Continental AG, launched intelligent glazing control which can be used to dim or reduce lighting in premium vehicles. Similarly, Apple is working on the implementation of augmented reality windshield systems in vehicle.
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“The Asia-Pacific automotive glazing market stood at USD8583.26 million in terms of value in the year 2020 and is expected to reach USD13460.79 million by 2026, growing with a CAGR of 8.93% in the forecast years. The presence of leading original equipment manufacturers (OEM) with high vehicle production capacities in different countries of the Asia-Pacific region especially in China, is the key factor driving the automotive glazing market in the region. China has the dominant share in the OEM production in the Asia-Pacific region and the country leads the growth of automotive glazing market.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Automotive Glazing Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2016-2026,Segmented By Product (Tempered Glass, Laminated Glass and Polycarbonate), By Application (Front Windshield, Sidelite, Rear Windshield and Sunroof), By Vehicle Type (Passenger Car, Light Commercial Vehicles and Medium & Heavy Commercial Vehicle), By Region”, has evaluated the future growth potential of global automotive glazing market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global Automotive Glazing market.
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