Global 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.