PUNE, India, March 30, 2018 /PRNewswire/ --
According to a new research report published by MarketsandMarkets™, "Automotive Glass Market by Type (Laminated, Tempered), Application (Windshield, Sidelite, Backlite, Rear Quarter Glass, Side & Rear-View Mirrors), Material (IR-PVB, Metal Coated, Tinted), ICE & EV, Aftermarket, and Region - Global Forecast to 2025", the market is projected to grow at a CAGR of 4.80%, to reach a market size of USD 23.59 Billion by 2025, from an estimated USD 16.21 Billion in 2017. The market is driven by increasing vehicle production & sales, demand for advanced glass technologies such as smart glass device & embedded glass, and government regulations for vehicle safety.
Browse 149 market data Tables and 67 Figures spread through 205 Pages and in-depth TOC on "Automotive Glass Market"
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"Suspended Particle Device (SPD) is estimated as the leading automotive smart glass technology"
With growing demand for premium passenger cars and hybrid & plug-in hybrid vehicles (HEV & PHEV), the demand for smart glass is growing. Owing to the high cost associated with smart glass, the technologies are presently limited to premium vehicles. Of the smart glass technologies, the SPD technology is expected to dominate the automotive smart glass market. SPD regulates the amount of heat and light entering in a vehicle, provides 99% protection from harmful UV radiations, controls the cabin temperature, thereby reducing the air conditioning unit's consumption, and enhances safety and other factors. The largest application of SPD technology is in passenger car sunroofs. Advancements related to sunroofs based on this technology such as MAGIC SKY CONTROL, panoramic roofs have been employed in high end luxury models by OEMs such Mercedes (Germany) and BMW (Germany).
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Laminated Glass is the fastest growing segment in the Automotive Glass Market
The laminated glass market is projected to be the fastest growing market during the forecast period. Laminated glass in the windshield has a PVB layer that protects the passengers from broken glass pieces. It also offers clear visibility. Increased safety when compared with tempered glass and possible applications of laminated glass in sidelites (in addition to windshield) are the key reasons for the growth of laminated glass market. Side glazing trend started in Europe and now other key countries such as US and Japan are also following the trend where vehicles are fitted with side laminated glazing. Laminated side glazing improves safety of the passenger and driver. It also improves the NVH (Noise, Vibration & Harshness) conditions of the vehicles.
"Asia Oceania: Largest Automotive Glass Market"
Asia Oceania is estimated to be the largest Automotive Glass Market and is also projected to grow at the highest CAGR from 2017 to 2025. This growth can be due to the rising GDP, increasing per capita income, and growing demand for passenger vehicles especially for compact SUVs in this region. Additionally, shifting consumer preference for SUV especially in countries such as India and China are driving the Automotive Glass Market. The average volume of glass required in SUV is significantly more than that in sedans and other passenger cars. Saint-Gobain has expanded its facility in Chennai, India, with an investment of USD 300 million to develop high-end glass for automotive market. Asahi Glass has also expanded its facility in Indonesia to manufacture float glass for the automotive industry. These expansions help the companies to increase their market share in the growing Automotive Glass Market in the region.
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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