According to the latest report by IMARC Group, titled "Automotive Glass Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global automotive glass market reached a value of US$ 16.2 Billion in 2021. Automotive glass refers to a processed float glass that is generally used for providing protection to the occupants and the vehicle during accidents. Additionally, it aids in preventing excessive heat inside the car, reduces noise and protects against ultraviolet rays (UV). These glasses are produced via the process of quenching, which comprises mixing sodium carbonate, silica, lime and cullet with water. Due to the growing incidences of accidents and the increasing demand for enhanced safety among individuals, this is providing a boost to the market growth.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Automotive Glass Market Trends:
The global market is primarily driven by significant growth in the automotive industry. Moreover, continual technological advancements in the sector and the integration of advanced technologies with automotive glass are favorbaly impacting the market. For instance, electrochromic glass composed of solar films that allow blocking the ultraviolet (UV) and infrared rays is gaining prominence across the globe. Also, the widespread adoption of heated windshields that facilitate instant defrosting for improving visibility is also contributing to the market growth. Additionally, rapid growth in the logistics and transportation sectors have fueled the manufacturing of heavy-duty vehicles, which, in turn, is driving the demand for automotive glass. Moreover, the widespread adoption of electric vehicles (EVs) due to an enhanced focus on sustainable development is favoring the product uptake. Other factors, including the rising production and sales of automobiles, continual upgradation in vehicle design, and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 22.7 Billion by 2027, exhibiting a CAGR of 5.8% during 2022-2027.
- On the basis of the glass type, the market has been segregated into laminated, tempered and other glasses.
- Based on the material type, the market has been segmented into the IR PVB, metal coated glass, tinted glass and others.
- On the basis of the vehicle type, the market has been segregated into passenger cars, light commercial vehicles, trucks, buses and others.
- Based on the application, the market has been classified into windshield, sidelite, backlite, rear quarter glass, sideview mirror, rearview mirror and others.
- On the basis of the end-user, the market has been bifurcated into OEMS and aftermarket suppliers.
- Based on the technology, the market has been categorized into active smart glass (suspended particle, electrochromic and liquid crystal glasses) and passive glass (thermochromic and photochromic glasses).
- On the basis of the region, the market has been divided into Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), North America (the United States and Canada), Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru and others) and the Middle East and Africa (Turkey, Saudi Arabia, Iran, the United Arab Emirates and others).
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Asahi Glass, Corning, Fuyao Glass, Gentex, Hitachi Chemical, Magna, Nippon Sheet Glass, PGW, Polytronix, Saint-Gobain, Samvardhana Motherson, Webasto, and Xinyi Glass, Ltd.
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