Global Automotive Glazing Market Size, Trends & Analysis - Forecasts to 2026 By Type of Off-Highway (Agricultural Tractors, and Construction Equipment); By Type of Application (Windscreen, Sidelite, Backlite, Front lighting, Rear Lighting, Rear Quarter glass, and Sunroof); By Type of Vehicle (Passenger Car, Light Commercial Vehicle, Buses, and Trucks); By Type of Electric Vehicle (Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV), and Fuel Cell Electric Vehicle (FCEV)); By Region (North America, Europe, Asia Pacific, MEA, and CSA); End-User Landscape, Vendor Landscape,
Automotive Glazing Market Insights
The global automotive glazing market will grow moderately at a CAGR value of 9.5% during the forecast period (2020-2026). Glazing is done by using an impermeable coating of advanced material which changes the texture and color of the surface of the glass. It is majorly used in automotive industries to improve the mechanical strength of the glass, provides resistance from corrosion, and impart stability. The growing demand for lightweight vehicles with complex glazing design is the key parameter propelling the demand for the automotive glazing market. Besides, the growing popularity of the sunroof system is further anticipated to add value to the growing market.
The initiative is taken by various key players to bring innovation in glazing system to enhance the quality of the system such as improve the stability of the product in extreme weather condition, provide resistance from corrosion so to influence the buyer's decision and end up adding values to the growing automotive glazing market.
Various strict regulatory norms towards growing carbon footprint have had an indisputable impact on automotive industries which leads to pressure on manufacturers to develop better, safer, and lighter car components. This step towards improving existing products is expected to create more opportunities and market share for the automotive glazing sector in the forecast year.
However, there has been an adverse impact seen on the automotive industries due to the global pandemic which directly affects the sales of automotive glazing products in the year 2020.
Automotive Glazing Market: By Type of Off-Highway
Agricultural tractors and construction equipment are the types of off-highway vehicles, out of which the construction equipment will dominate the market. The huge market of the segment is due to the large sale and demand of the construction equipment by various key end-users in comparison to the agriculture tractors segment for the off-highway glazing market. Moreover, strict ROPS and FOPS policies further help in the penetration of polycarbonate glazing in the construction equipment sector which acts as a driving factor for the automotive glazing market.
Automotive Glazing Market: By Type of Application
The market is segmented into rear quarter glass, backlite, front and rear lighting, windscreen, sidelite, and sunroof as per application outlook. The sidelite segment will grow faster than any other market segment. Currently for OEMs primary concern is to reduce weight and usage of polycarbonate in sidelite which will reduce a significant amount of weight in vehicles like buses as they hold a larger surface area. The most effective result of weight reduction will be on the consumption of fuel which is expected to get reduced at a higher rate thus leads to proliferating polycarbonate market in sidelite application.
Automotive Glazing Market: By Vehicle Type
Passenger cars, trucks, buses, and lightweight cars are the types of vehicles considered in this market study. Buses are expected to show the largest vehicle segment of the automotive glazing market due to higher surface area for application in buses as compared to other vehicles. High usage of polycarbonate in buses results in a reduction of fuel efficiency and growing urbanization which lead to increase demand for buses which is cheaper and faster travel.
Automotive Glazing Market: By Electric Vehicle Type
Based on an electric vehicle, the market is segmented into PHEV, BEV, and FCEV. Battery electric vehicle (BEV) is expected to build a huge automotive glazing market in the projected year. BEV has an electric motor and high rechargeable battery backups which is a major reason for its high weight, thus, weight reduction is the primary concern for various key players and which could be solved at the maximum limit by polycarbonate glazing.
Automotive Glazing Market: By Region
Based on the geographical analysis, the Asia-Pacific region will heavily dominate the automotive glazing market owing to large automotive industries setups which end up generating the demand for the product by the end-users. India, China, Thailand are the major countries and have the key market for this region due to the high automotive industry setup, low cost, low transportation, and labor charges are the fueling factors for the growth of the automotive glazing market in this region.
The high demand for aesthetic and luxurious car leads to bring innovation in the system by the manufacturers and thus influence the demand for glazing in regions like Europe.
Automotive Glazing Market Share and Competitor Analysis
Key global players in the global automotive glazing market are Covestro AG, Saint-Gobain S.A, SABIC, Webasto, Idemitsu Kosan Co., Ltd., Teijin Limited, Trinseo, Mitsubishi Engineering-Plastics Corporation, Chi Mei Corporation, AGC Inc., Xinyi Glass Holdings Limited, Central Glass Co. Ltd, Guardian Industries, Fuyao Glass Industry Group Co., Ltd., Sumitomo Corporation, Evonik Industries AG, Nippon Sheet Glass Co., Ltd, and other.
Please note: This is not an exhaustive list of companies profiled in the report.
In September 2020, Covestro AG launched an innovative automotive headlight concept for vehicles. The approach is based on different types of polycarbonate Makrolon and aims to direct the high demand in functionality and aesthetic terms.
In July 2019, Benet automotive was acquired by Teijin Limited, to expand its European automotive business. Benet is known for providing advanced technologies for carbon-fiber and glass-fiber reinforced plastic modeling of vehicles.
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The Global Automotive Glazing Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Automotive Glazing Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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