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(Transportation-News.com, April 23, 2019 ) The Automotive Glass Market is projected to grow at a CAGR of 4.80% during the forecast period, to reach a market size of USD 23.59 Billion by 2025 from USD 16.21 Billion in 2017.
Increasing vehicle production, especially the SUV segment, and increasing glass applications as well as average area per car are some of the key factors fueling the glass demand in the automotive industry. Additionally, safety regulations related to glass, demand for lightweight glass, upcoming smart glass technologies that enhance visibility and provide protection from UV rays are few other factors influencing the demand of glass in the automotive industry.
The major players in the automotive glass market are Saint-Gobain (France), Asahi Glass (Japan), Fuyao Glass (China), Samvardhana Motherson (India), Webasto (Germany), Xinyi Glass (China), Nippon Sheet Glass (Japan), Gentex Corporation(US), Corning (US), and Magna International (Canada)
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Rearview mirror is the largest segment of the device embedded automotive glass market. Rearview mirror is among the first applications of device embedded glass in passenger cars. It not only provides important information to the driver when parking the vehicle but also warns about any obstacle approaching the vehicle from behind. Technological advancements by Gentex (US) and Samvardhana Motherson (India) have ensured that device embedded rearview mirrors are available at an economical price point.
Laminated glass is the fastest growing segment globally. Laminated glass has a major application in the vehicle windshield. Laminated side glazing in automobiles is one of the most desired automotive technologies. Some European OEMs such as BMW and Mercedes have standardized side glazing in some of their top selling models. It provides enhanced safety to passengers in case of the vehicle rolls over in an accident.
The sunroof is the largest and fastest growing smart glass application in the automotive smart glass market. It provides more control to the user to manage natural light in the vehicle. Smart glass technology in sunroof is being used by Daimler and Mercedes-Benz models such as SL, SLK series. Technological advancements, the presence of interested industry players, and a high demand for energy efficient products also play an important role in the growth of the market for sunroof made of smart glass.
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Asia Oceania is estimated to be the largest automotive glass market and is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to improving socio-economic conditions in emerging countries such as China and India. China, Japan, and India are among the top five passenger vehicle manufacturers in the world.
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Mr. Shelly Singh
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