Report Ocean has recently published a new research study on the global automotive glazing market. According to the study, the market is expected to exhibit strong growth potential over the period from 2020 to 2027. The report is titled “Global Automotive Glazing Market Size study, by Off-highway (Agricultural Tractors and Construction Equipment), by Application (Windscreen, Sidelite, Backlite, Front lighting, Rear Lighting, Rear Quarter glass and Sunroof), by Vehicle Type (Passenger Car, Light Commercial Vehicle, Buses and Trucks), by Electric Vehicle (Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV) and Fuel cell Electric Vehicle (FCEV)) and Regional Forecasts 2020-2027” and it has been prepared by carrying out an in-depth assessment of this market based on its past and current performance and future prospects.
The global automotive glazing market stood at US$0.9 bn in 2019. It is anticipated to rise at a healthy CAGR of 9.9% over the forecast period of 2020-2027.
The rising uptake of polycarbonate glazing in sunroofs and surge in the usage of polycarbonate glazing are likely to boost the worldwide market for automotive glazing over the years to come. Furthermore, the advanced designing in automotive applications and the higher usage of impact-resistant polycarbonate in off-highway vehicles are expected to drive the market’s growth significantly in the near future. However, the low familiarity to advanced plastic glazing of engineers, the volatility in the market, and the high cost of polycarbonate may limit this market during the forecast period.
Key participants in this market are focusing on innovations and advancements of their products. For instance, in late 2019, SABIC introduced a new XENOY™ HTX high-heat polyester-based resin technology in a response to the latest trend of vehicle light weighting and electrification. Going forward, the constant rollouts of new products and uptake of strategic alliances by key market players are expected to create new revenue streams over the coming years.
The research report also presents a regional assessment of the global algaecides market. As per the study, the market is distributed among Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia Pacific has surfaced as the dominant regional market for automotive glazing across the world. The increasing demand from end-use industries due to the continuous rise in population and, consequent urbanization, is boosting this regional market. Researchers expect this market to continue leading the global automotive glazing market over the next few years.
Impact of Covid 19 on Global Automotive Glazing Market
Due to the Covid 19 pandemic, the focus has completely shifted to the healthcare and the pharmaceutical industries and related markets, while impacting many other markets that includes the global market for automotive glazing as well. A number of governments enforced strict lockdown in their respective countries, leading to stoppage of manufacturing processes and disruption of supply chain systems. This affected the production of automobiles and, consequently, the automotive glazing market across the world. However, with situation getting under control, the market is likely to return to its normal self soon.
- The rising uptake of polycarbonate glazing in sunroofs and surge in the usage of polycarbonate glazing are likely to boost the worldwide market for automotive glazing.
- Asia Pacific has surfaced as the dominant regional market for automotive glazing across the world.
The global automotive glazing market is segmented into:
- Agricultural Tractors
- Construction Equipment
- Front lighting
- Rear Lighting
- Rear Quarter glass
By Vehicle Type
- Passenger Car
- Light Commercial Vehicle
By Electric Vehicle
- Battery Electric Vehicle (BEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Fuel cell Electric Vehicle (FCEV)
- North America
- Asia Pacific
- Latin America
- Rest of the World
Companies Mentioned in the Report
- Covestro AG
- Teijin Limited
- Webasto SE
- Mitsubishi Motors Corp.
- Chi Mei Corporation
- Free Glass GmbH & Co. KG
- KRD Sicherheitstechnik GmbH
- The Idemitsu Kosan Co., Ltd.
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