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(Transportation-News.com, March 29, 2019 ) According to the new market research report "Automotive Glazing Market by Polycarbonate-Application (Windscreen, Sidelite, Backlite, Sunroof, Quarter Glass, Front & Rear Lighting), Advanced Applications, Vehicle Type (On-Highway, Off-Highway, Electric & Hybrid), and Region - Global Forecast to 2025", published by MarketsandMarkets™, The automotive glazing market, by polycarbonate, is estimated to be USD 1.4 billion in 2018 and is projected to reach USD 2.7 billion by 2025, at a CAGR of 10.13%. The market is estimated to be driven primarily by the usage of polycarbonate in headlights and the increasing production of sunroof and rear quarter glass-equipped premium vehicles such as sedans and SUVs. The increasing demand for complex glazing design and lightweight vehicles is also driving the growth of the automotive glazing market for polycarbonate.
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Browse and in-depth TOC on "Automotive Glazing Market"
94 - Tables
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181 - Pages
Bus is expected to be the fastest growing segment in the automotive glazing market, by vehicle type, during the forecast period
As per MNM analysis, the average size of glazing for buses is highest than any other vehicle type. The average glazing area of the bus is 2 to 3 times more than passenger cars. This is because of the higher surface area of applications such as sideline and windscreen. Buses account for the smallest share of global vehicle production. However, the polycarbonate usage in buses for glazing is estimated to have a high impact on their fuel efficiency. The increasing urbanization rate has increased the number of megacities resulting in the demand for cheap and faster travel. This why the production of buses is estimated to increase. Hence, the fuel efficiency impact coupled with increasing bus production is estimated to drive the automotive glazing market for buses at the highest CAGR.
Front lighting application is anticipated to be the largest segment of the automotive glazing market
All vehicles are equipped with front lighting; the average size of front lighting depends on the type of vehicle. Additionally, polycarbonate has 100% penetration in front lighting application from the last few years. Thus, increasing vehicle production has a direct impact on the polycarbonate glazing market. Moreover, average lighting size has been increased owing to the DRL mandates. Increased average size coupled with the highest penetration of polycarbonate in lighting applications is estimated to drive the front lighting application segment.
BEV is estimated to be the fastest growing segment of the electric vehicle automotive glazing market during the forecast period
Because of stringent emission norms, the sale of electric vehicles has increased tremendously in the last few years. As per MarketsandMarkets analysis, this trend will drive the market for electric vehicles such as BEVs. BEVs are propelled by an electric motor and have high power rechargeable battery packs. Thus, weight reduction is the predominant criteria in BEVs. Therefore, polycarbonate glazing is expected to have a significant market share in BEVs. Additionally, a majority of BEVs fall under the premium vehicle category. So, safety and aesthetic features play an important role in these vehicles, which, in turn, are projected to drive the growth of the BEV segment at the highest CAGR in the automotive glazing market for electric vehicles.
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The automotive glazing market is dominated by global players and comprises several regional players. The key players in the automotive glazing market are SABIC (Suadi Arabia), Covestro (Germany), Teijin (Japan) Webasto (Germany) Freeglass (Germany), Mitsubuishi (Japan), Trinseo (US), Chi Mei Corporation (Taiwan), KRD Sicherheitstechnik (Germany), and Idemitsu (Japan).
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