Automotive Glazing Market is expected to reach USD 33.02 billion by 2025. Large, transparent surfaces like side/rear windows, panoramic roofs, or transparent body panels are flattering the popularity in the automotive industry. Glazing system abridges the vehicle assembly process. Extrusion and encapsulation are the modular systems that simplify adhesive bonding of the glazing to the vehicle. The automotive glazing market is estimated to grow at a significant CAGR of 4.2% over the forecast period as the scope and its applications are rising enormously across the globe.
Growing
production of commercial and passenger vehicles, high demand for vehicles
having sunroof systems from populace, and rising manufacturers developing
luxury high-tech glazing vehicles with an innovative touch are documented as
major factors of automotive glazing market that are estimated to enhance the
growth in the years to come. However, high manufacturing cost may restrain
overall market growth in the coming years. Automotive glazing industry is
segmented based on vehicle type, material, applications, distribution channels,
and region.
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Commercial
vehicle and passenger vehicle are the types that could come to the fore in
automotive glazing in the forecast period. The commercial sector includes buses
& coaches, light commercial vehicles (LCVs), and heavy commercial vehicles
(HCVs).The “passenger vehicles” sector accounted for the substantial market
share and is estimated to lead the overall market in the years to come, as
growing production of passenger vehicles.
Materials
may include polymer blends, glass, and polycarbonate that could be explored in
automotive glazing in the forecast period. The glass sector comprises gorilla
glass, laminated glass, and tempered glass. The market may be categorized based
on applications like sunroof, front windshield, sidelight & backlight, rear
windshield, and others could be explored in the forecast period.
Aftermarket
and OEM (original equipment manufacturer) are the sales channel that could be
explored in automotive glazing in the forecast period. The aftermarket sector
accounted for the substantial market share of automotive glazing and is
estimated to lead the overall market in the coming years. This may be because
of changing glass or other materials for glazing after vehicle meets with an
accident.
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Globally,
Asia Pacific accounted for the substantial market share of automotive glazing
and is estimated to lead the overall market in the coming years. The reason
behind the overall market growth could be high production activities of
automotive glazing in the region. The developing countries like India and China
are the major consumers of automotive glazing in the region.
North
America and Europe are also estimated to have a positive influence on the
future growth. North America is the second largest region with significant
market share. However, Europe is expected to grow at fastest pace with the
highest CAGR in the foremost period. The aspects that could be ascribed to the
growth comprise rising demand for innovative glazing systems and high
investment by manufacturers for the development of luxury cars.
The
key players of automotive glazing market are Teijin Limited, Nippon Sheet Glass
Company Limited, Saudi Basic Industries Corporation (SABIC), Chimei
Corporation, Covestro AG, Saint Gobain S.A, Webasto SE, and Fuyao Glass
Industry Group Co., Ltd. These players are concentrating on inorganic growth to
sustain themselves amongst fierce competition. As companies all over the world
have to believe that alliance with a market would permit them proportional
market existence and authority to declare the leadership position.
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