ALBANY, New York, June 21, 2018 /PRNewswire/ --
The global automotive polycarbonate glazing market is highly competitive in nature with a large number of players operating in it across the globe, states a new market research study by Transparency Market Research. Some of the leading players operating in the global market are Saudi Basic Industries Corporation, Covestro AG, Trinseo S.A. Advancement, and Teijin Limited. These players are focusing on development of new product and quality product in order to expand their product portfolio and enhance their market penetration across the globe. The competition among these players is projected to rise significantly in the next few years, thanks to the rising number of players who are expected to enter the global market throughout the forecast period.
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According to the market research study by Transparency Market Research (TMR), in 2016, the global market for automotive polycarbonate glazing market was worth US$ 816.1 mn. The market is predicted to reach a value of US$ 1,770.5 mn by the end of 2025 and will register a promising 9.0% CAGR between 2017 and 2025.
Asia Pacific to Lead Automotive Polycarbonate Glazing Market
From a regional outlook, Asia Pacific is projected to account for a large share of the global automotive polycarbonate glazing market in the next few years. As per the research study, this region is estimated to continue its dominance in the near future, thanks to the increasing contribution from Australia, China, India, South Korea, and Japan. In addition to this, the increasing use of polycarbonate glazing in the automotive industry in India is another major factor anticipated to accelerate the growth of the Asia Pacific market in the coming few years. Furthermore, Europe is estimated to register a promising growth throughout the forecast period. Europe is expected to be followed by North America, which will experience a healthy growth in the coming years.
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On the basis of application, the global market for automotive polycarbonate glazing has been classified into rear windshield, front windshield, side window, and sunroof. Among the mentioned segments, the side window segment is estimated to lead the global market in the next few years, further followed by the front windshield segment. In terms of vehicle type, the passenger vehicle segment is expected to account for a large share of the global automotive polycarbonate glazing market throughout the forecast period.
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Developing Sunroof Market to Generate Growth Opportunities
A tremendous rise in the demand for lightweight glazing materials in the automotive industry is one of the major factors anticipated to encourage the growth of the global market in the next few years. In addition to this, the availability of advanced automotive designs and the developing sunroof market are further projected to accelerate the overall growth of the market in the near future. On the flip side, the rules and regulations restricting the use of polycarbonate for windscreens and the high cost of polycarbonate glazing are the key factors that are estimated to curtail the growth of the global automotive polycarbonate glazing market in the next few years. Nonetheless, the upcoming emission targets and the developing market for electric vehicles are predicted to generate promising growth opportunities for the market players.
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This information is based on the findings of a research report published by Transparency Market Research (TMR), titled "Automotive Polycarbonate Glazing Market (Application - Front Windshield, Side Window, Rear Windshield, and Sunroof; Vehicle Type - Passenger Vehicles and Commercial Vehicles) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025."
- Asia Pacific market for automotive polycarbonate glazing to lead throughout the forecast period, owing to the growing demand from India.
- The growing popularity for electric vehicles to act as a key opportunity for the market players in the global automotive polycarbonate glazing market.
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The global automotive polycarbonate glazing market has been segmented as below:
Global Automotive Polycarbonate Glazing Market by Application
- Front Windshield
- Side Window
- Rear Windshield
Global Automotive Polycarbonate Glazing Market by Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
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