6
September 2018, San Francisco According
to a report by Grand View Research, Inc., global automotive
glazing market is
estimated to value USD 33.02 billion by 2025. The market is also expected to
expand at a healthy growth rate of 4.2 % during the forecast years (from
2018 to 2025). Growing requirement for advanced safety measures in automobiles
attributed to increasing number of road accidents can boost the demand for automotive
glazing systems. These glazing systems offer excellent mechanical resistance
and stability under extreme weather conditions. In addition, it also offers
enhanced safety and comfort for consumers.
High
demand for essential safety, security, and comfort in automobiles is estimated
to fuel the market growth in the forthcoming years. Stringent regulations in
the automotive sector pertaining to consumer safety and security can further influence
the market growth. Growing adoption of light-weight components in cars is also expected
to stimulate the product demand thereby augmenting the market development during
the forecast years.
The
automotive glazing market can be segregated on the basis of product, end-use,
application, and region. Based on product, the market can be categorized into
laminated glass, tempered glass, and polycarbonate. In 2016, laminated glass
account for 45 % of the total revenue share. Advanced safety properties
such as high impact resistance is expected to stimulate the demand for
laminated glass in front windshields.
Access Research Report of Automotive
Glazing Market@: www.grandviewresearch.com/industry-analysis/the-global-automotive-glazing-market
Based
on application, the market can be classified into rear windshield, front
windshield, sidelites, and sunroof. In 2016, front windshield segment dominated
the market and accounted for maximum market share. It is projected to display a
healthy rate of 3.8 % from 2018 to 2025 owing to rising demand for smart
glass technology embedded on windshields. In addition, high demand for
passenger cars is also estimated to spur segment growth in future.
In
addition, sidelites segment accounted for 25 % of the overall revenue in
2016. Growing need for stronger side window glass in automobiles attributed to
increasing number of road accidents can augment segment development. In
addition, increasing use of laminated glass in sidelites offering enough fire
and impact resistance can also influence its growth in the forthcoming years. The sunroof segment is expected to grow at a CAGR
of 8.7 % during the forecast years owing to rising demand for air
circulation, illumination, and comfort in automobiles.
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more reports of this category by Grand View Research at: www.grandviewresearch.com/industry/plastics-polymers-and-resins
Based
on end-use, the market can be divided into, light commercial vehicles (LCV),
heavy commercial vehicles (HCV), and passenger cars. In 2016, passenger cars
segment dominated the market and accounted for 75 % of the revenue share.
Growing demand for advanced safety systems and aesthetic cars is expected to
fuel the segment’s growth. Furthermore, increasing use of passenger cars in
developing economies of Asia Pacific can foster market demand in the forecast
period.
Regional
segmentation includes Asia Pacific, North America, Europe, Central & South
America, and Middle East & Africa. In Asia Pacific, the market is expected
to grow at a remarkable CAGR of 5.5 % from 2018 to 2025. Increasing
automotive production in the region is expected to be the major growth-driver.
In addition, low transportation & labor charges along with easy availability
of land in Asian countries such as India, China, and Japan are expected to fuel
the market growth in Asia Pacific.
In
North America, the market is anticipated to witness a moderate growth rate due to
large-scale manufacturing of LCVs in the region. This, in turn, is expected to spur
the demand for automotive glazing in the region. In 2016, Europe region
dominated the global market owing to production of 5,746,800 cars influencing the
demand for automotive glazing. The market would experience a steady expansion
on account of rising need for innovative glazing systems among European
manufacturers to create esthetic and luxury.
In the
Latin America region, Brazil accounted for a market share equivalent to USD
937.4 million in 2016. It is predicted to grow at CAGR of 2.3 % from 2018
to 2025. Rising investments from several international companies including
Toyota, Renault, and Group PSA for expanding their product portfolio in the
region may fuel its growth. Some of the leading companies offering automotive
glazing are Pilkington, Fuyao Group, Asahi Glass Co. Ltd., Central Glass, and
Xinyi Glass holdings Limited. To cater to rising demand, most companies are
focusing on R&D activities to develop advanced automotive glazing systems.
For instance, a Japanese company named Teijin Limited recently developed new plasma-enhanced
Chemical Vapor Deposition (plasma CVD) hard coating technology. The new
technology offers weather and abrasion resistance similar to glass windows. The
company collaborated with Tsukishima Kakai Co. to develop plasma CVD pilot
plant to treat polycarbonate (PC) windows.
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Press Release of Automotive Glazing Market@: www.grandviewresearch.com/press-release/global-the-global-automotive-glazing-market
About
Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
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