Automotive Glass Market Report 2027: Business Opportunities and Future Investments
The automotive glass market from laminated glass segment is likely to register a CAGR of around 5.9% in the coming years. Laminated glass has easy reparability and compatibility with polyvinyl butyral coating for soundproofing, better glass bonding, and clear visibility. For producing laminated glass, two glass coats are sandwiched with a laminate, and the possibilities of damages and injuries are reduced as the glass is usually in a frame.
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On the other hand, tempered automotive glass or toughened glass is made by heating and then quickly cooling pre-cut glass pieces in a tempering furnace. This glass is highly resistant to harsh environments and is highly durable.
The heavy vehicle category could register around 5.4% CAGR in the upcoming years. Urbanization has resulted in a rise in the construction of roads, buildings, and highways, which has led to a requirement for heavy commercial vehicles for transporting of required raw material to construction sites. Additionally, growing number of accidents on highways mainly involving heavy commercial vehicles has fueled the requirement for replacement automotive glass.
The windscreen application segment is expected to reach a CAGR of more than 5.8% by 2027. Windscreens can be created using both laminated and tempered glass. Usually, laminated glass windshields are more expensive than their counterparts. Several innovative technologies are being introduced in the industry for improving the driving experience. In 2021, Kia unveiled the Kia EV6 electric crossover that comes with an augmented reality (AR) windshield and ultra-fast charging.
With a rise in electric vehicle production and sales, the automotive glass market is expected to procure commendable growth by 2027. Increasing consumer purchasing power across emerging nations is fueling the demand for newer vehicle models. While automakers are emphasizing on improving structural strength of their vehicles to meet safety standards as well as on enhancing aesthetic appeal.
Automotive glass manufacturers are launching innovative technologies for enhancing vehicle driving experience. They are expanding their manufacturing facilities to boost production capacity. In 2019, Corning opened its new manufacturing facility in China, for the first large-part AutoGrade cover glass solutions. The facility was focused on driving high-volume manufacturing of automotive interior glass parts.
Geographically, the North America automotive glass market is projected to gain nearly 16% share on account of strict regulations regarding vehicle and passenger safety. There is a surging demand for automotive glass developed by OEMs for lightweight vehicles. Market players are complying with the regulations set down by the concerned authorities, including measures for crash resistance, strength, penetration through windshields, and passenger safety.
Globally, the automotive glass market consists of companies such as Asahi Glass, Corning, Inc., Webasto, Saint-Gobain, Nippon Sheet Glass Co. Ltd., Magna International Inc., Independent Glass, Shatterprufe Windscreens, Guardian Glass, Fuyao Group, LKQ Corporation, and Gentex Corporation, among others. These firms are working on various business strategies such as new product development and partnerships.
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Some Point from Table of Contents:
Chapter 4 Automotive Glass Market, By Product
4.1 Global automotive glass market share by product, 2020 & 2027
4.2 Laminated
4.2.1 Global market estimates and forecasts, 2017 - 2027
4.2.2 Market estimates and forecast, by region, 2017 - 2027
4.3 Tempered
4.3.1 Global market estimates and forecasts, 2017 - 2027
4.3.2 Market estimates and forecast, by region, 2017 – 2027
Chapter 5 Automotive Glass Market, By Application
5.1 Global automotive glass market share by application, 2020 & 2027
5.2 Sidelite
5.2.1 Global market estimates and forecasts, 2017 - 2027
5.2.2 Market estimates and forecast, by region, 2017 - 2027
5.3 Backlite
5.3.1 Global market estimates and forecasts, 2017 - 2027
5.3.2 Market estimates and forecast, by region, 2017 – 2027
5.4 Windscreen
5.4.1 Global market estimates and forecasts, 2017 - 2027
5.4.2 Market estimates and forecast, by region, 2017 – 2027
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