Global Automotive Glass Market Demand Reflective of Change in Customer Choices in Car Aesthetics | Worldwide Trend, COVID-19 Pandemic Impact and Forecast to 2025
Research Reports
Jan 04, 2021
Glass plays a central role in various parts of an automotive such as windows, windscreen, and roof. The global automotive glass market report by Market Research Future (MRFR) covers drivers, challenges, opportunities, and bottlenecks to be faced by glass manufacturers for the period of 2019 to 2025 (forecast period). The COVID-19 pandemic and its implications are explored in the industry report.
Market Scope
The global automotive glass market is expected to grow with an estimated CAGR of 7.28% during the forecast period. Development of new iterations of glass designs and procurement of latest vehicles annually can drive market demand. Incorporation of asymmetric designs and focus on exterior aesthetics can bode well for the market. Huge strides in glass manufacturing and capacity to increase the strength and quality of glass has led to innovations such as tinted glass and acoustic glass.
Badges and hood ornaments endorsing the brand logo of the company have been made using glass. They are made from a combination of inorganic and non-toxic oxide and silicate compounds. The development of hood ornaments on luxury and ultra-luxury cars can drive the market growth. Introduction of new financial schemes and available loans for cars can facilitate growth in the global automotive glass market.
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Segmentation
Based on type, the global market has been bifurcated into tempered and laminated glass. In 2018, the laminated glass segment was projected to witness significant growth in terms of value during the forecast period. Laminated glass is soundproof, easy to install, and durable. Hence, the demand for laminated glass is gradually increasing among auto glass manufacturers. In addition, its resistance to shattering during accidents and protecting passengers can drive the segment demand in the global automotive glass market.
On the basis of vehicle type, the global market has been segmented into passenger car, light commercial vehicle, and heavy commercial vehicle. The passenger car segment accounted for the largest market share of global automotive glass market during the forecast period. This is attributed by the rising demand for passenger cars, increasing per capita income in emerging countries, and growing use of glass in automotive. Passenger cars employ glass for protecting passenger from environmental elements such as dust, wind, sunlight, etc.
Based on application, the global market has been segregated into windscreen, sidelight, backlite, and sunroof. The windscreen segment is expected to witness substantial growth owing to its increasing consumption in the automotive industry. On the other hand, the sidelight segment is deemed to capture a significant market share owing to its installation on door frames.
Regional Analysis
Among these regions, Europe is expected to witness significant growth in the global automotive glass market due to the presence of well-established automotive players and the growing demand for passenger vehicles. In Europe, Germany accounted for the largest market share, followed by the U.K. and France.
The automotive glass market in North America is being dominated by the U.S. and followed by Canada. North America is one of the major producers of automotive glass due to the presence of established players in the automotive glass market. Moreover, the rising demand for passenger cars has resulted in increasing demand for automotive glass has augmented the North American market.
Competitive Outlook
Fuyao Glass Industry Group Co. Ltd, Central Glass Co. Ltd, Vitro, S.A.B. de C.V., Xinyi Glass Holdings Limited, Olimpia Auto Glass Inc., Saint Global S.A., Guardian Industries Corp, Shatterprufe, Asahi Glass Co., Ltd, and Nippon Sheet Glass Co. Ltd are notable players of the global automotive glass market. Development of 3D decorative cover glass for letting users experience AR and VR can bode well for the market. Recently, Corning Incorporated announced tie-ups with various automotive manufacturers for Aion LX, an interior glass component made from its patented technology. Rise of in-car solutions due to the rapid integration of latest technologies can favor the glass manufacturer.
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Key Questions Addressed by the Report
- What was the historic market size (2020)?
- Which segmentation (Product/ Capacity) is driving market?
- What will be the growth rate by 2023?
- How are the key players in this market?
- What are the strategies adopted by key players?
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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