New York, April 05, 2023 (GLOBE NEWSWIRE) -- According to Market.us, The global automotive glass market was worth US$ 17 billion in 2022 and the market size is projected to surpass around US$ 43.8 billion by 2032, and it is poised to reach a CAGR of 10.2% from 2023 to 2032.
Automotive glass is a type of laminated or tempered glass used in the manufacture of vehicle windscreens and windows. To withstand extreme heat and impact without shattering, laminated glass is made from two sheets of glass with a layer of PB (polyvinyl butyral) between them. Tempered glass, on the other hand, is a single-ply product that breaks into small pieces after being broken. This increases safety for passengers. Automotive glass is also water-resistant, has superior aerodynamic features, and protects against UV radiation, rain, fog, and sun.
To get additional highlights on major revenue-generating segments, Request an Automotive Glass Market sample report at https://market.us/report/automotive-glass-market/request-sample/
Key Takeaway:
- By product type, the Tempered glass segment dominated the market in 2022.
- By application, the windshield segment is anticipated record the highest growth in 2022.
- By technology, with a market share of about 83%, electrochromic glass led the market in 2022
- By vehicle type, the passenger car segment to hold the largest automotive glass market share in 2022
- By distribution channel, the original equipment manufacturer (OEM) market will experience a rapid expansion.
- Asia Pacific held a revenue share of approximately 33.5% in 2022
- The Europe market is anticipated to record significant growth during the forecast period.
One of the reasons for market growth is the rapid expansion of the automobile industry worldwide. The market's expansion is significantly aided by consumers' growing preference for luxury and premium automobiles with advanced utility and safety features like glass sunroofs.
Factors affecting the growth of the Automotive Glass Market
Several factors can affect the growth of the automotive glass market. Some of these factors include:
- Rapid technological advancements: Market expansion is being aided by technological advancement.
- Safety Concerns: Increased adoption of the sunroof and growing focus on safety to drive market growth.
- Rising applications: Increasing applications of glass in automobiles and environmental benefits to boost the market.
- Integration with smart systems: The development of smart automotive glass and its integration with in-vehicle entertainment systems are two additional technological innovations that are boosting market expansion.
To understand how our report can bring a difference to your business strategy, Inquire about a brochure at https://market.us/report/automotive-glass-market/#inquiry
Top Trends in Automotive Glass Market
Investments in the technological advancement of automotive glass have increased as a result of the focus on enhancing the use of sunroofs in mainstream automobiles and the utilization of features like head-up displays to enhance driver alertness. Market trends are being driven by the establishment of standards for rollover roof crush and windshield retention.
Market Growth
The expansion of the global automotive glass market is significantly aided by consumer preference and increased spending power for luxury cars and premium automobiles with advanced utility and safety features like sunroofs.
Regional Analysis
Asia Pacific is dominating region in this market. Developing countries such as China and India are the key drivers of this market's growth. Increasing vehicle production has been a result of improving economic conditions and high population growth. This has resulted in increased demand and consumer preference for SUVs. The market growth is likely to be driven by the higher glass volume in India and China.
Europe has the second-largest market share and is predicted to experience significant growth during the forecast period. The market's expansion in this region is being fueled by strict safety regulations for automobiles, the presence of leading innovators like Saint-Gobain Sekurit, and an increasing number of electric vehicles.
Competitive Landscape
The competitive landscape of the market has also been examined in this report. Some of the major players include Dura Automotive Systems, Saint-Gobain S.A., Fuyao Glass Industry Group Co. Ltd., Guardian Industries Corporation, AGC Ltd., Nippon Sheet Glass Co. Ltd., Central Glass Co. Ltd., Xinyi Glass Holdings Ltd., Corning Incorporated, Taiwan Glass Ind Corp., and other key players. The development of smart automotive glass and its integration with in-vehicle entertainment systems are two additional technological innovations that are boosting market expansion.
Recent Development of the Automotive Glass Market
- In July 2022, Compagnie de Saint-Gobain S.A. expanded its building products with technology transfer from Kaycan Ltd. (Canada) through Kaycan Ltd’s acquisition. The acquisition is also expected to improve Compagnie de Saint-Gobain S.A.’s market presence in North America.
- January 2022, AGC Inc. improved its Infoverre Paper-like Screen Series, ultra-thin glass signage that applies AGC's glass processing technology to OLEDs. The signage finds its application in buses, trains, and commercial vehicles.
Have Queries? Speak to an expert or Click Here To Download/Request a Sample
Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 17 Billion |
| Market Size (2032) | USD 43.8 Billion |
| CAGR (from 2023 to 2032) | 10.2% |
| Asia Pacific Revenue Share | 33.5% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
The development of smart automotive glass and its integration with in-vehicle entertainment systems are two additional technological innovations that are boosting market expansion. The vehicle's temperature, voltage, and light intensity can all be altered by the smart glass, enhancing overall driving efficiency, passenger comfort, and safety. The glass is used for panoramic experiences, advertising, and entertainment as a digital interactive surface. The growing purchasing power of consumers, the rapid urbanization of emerging nations, and the widespread use of electric and hybrid vehicles all contribute to the growth of the market.
Market Restraints
Laminate glass is more expensive than tempered glass, and the technology isn't widely used in developing countries because of its higher cost. The production of thin laminated glass for side windows and research and development both necessitate high capital expenditures. The market's expansion is anticipated to be slowed by this investment and an emphasis on lowering production costs and consumer costs.
Market Opportunities
Automotive smart glass, like thermos chromic glass, is used to control how much light enters the vehicle. It reduces cabin heat buildup, thereby reducing air conditioning demand, which in turn reduces carbon emissions and boosts fuel economy. Passengers can adjust the transparency of the glass to suit their needs with electrochromic glass.
Grow your profit margin with Market.us - Purchase This Premium Report at https://market.us/purchase-report/?report_id=62302
Report Segmentation of the Automotive Glass Market
Glass Type Insight
Based on type, this market is segmented into laminated glass and tempered glass. Over the forecast period, the market is expected to be dominated by laminated glass. Mercedes and BMW, two European OEMs, include standard side windows in their most popular models. This market is expected to expand due to the fact that laminated side glazing improves occupant safety in the event of a vehicle rollover.
Application Insight
By application, the market is segmented into windshield, side & rearview mirror, backlight, and sunroof. The windscreen plays a key role in a vehicle's structure, thus, both glass and automotive makers are working to improve the windscreen's characteristics and aesthetics. The sunroof gives you more control over how much natural light comes into the car. This market is likely to expand as a result of rising investment by new market entrants and rising demand for energy-efficient products. Technology advancements like embedded sensors and smart materials, augmented displays, self-cleaning glass, and so on are expected to significantly expand the windshield market.
Technological Insight
By technology, the electrochromic glass sector held a sizable share of more than 83% in 2022. This is largely because of the product's advantages, such as its low driving voltage, high UV and IV ray blockage ratio, and ease of integration with large glass panels. In addition, electrochromic glass can be colored, tinted, or made opaque to change how heat and light are transmitted depending on the situation.
For more insights on the historical and Forecast market data from 2016 to 2032 - download a sample report at https://market.us/report/automotive-glass-market/request-sample/
Market Segmentation
Based on Glass Type
- Tempered
- Laminated
Based on Application
- Windshield
- Backlight
- Side & Rear View Mirror
- Sunroof
Based on Technology
- Active Smart Glass
- Suspended Particle Glass
- Electrochromic Glass
- Liquid Crystal Glass
- Passive Glass
- Thermochromic
- Photochromic
Based on Vehicle Type
- Passenger Car
- Light Commercial
- Heavy Commercial
By Geography
North America
- The US
- Canada
- Mexico
Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Market Key Players:
- Dura Automotive Systems
- Saint-Gobain S.A.
- Fuyao Glass Industry Group Co. Ltd.
- Guardian Industries Corporation
- AGC Ltd.
- Nippon Sheet Glass Co. Ltd.
- Central Glass Co. Ltd.
- Xinyi Glass Holdings Ltd.
- Corning Incorporated
- Taiwan Glass Ind Corp
- Other Key Players
Related Reports
- Flat glass market is expected to grow at a 3.7% compound annual growth rate (CAGR) from 2023 to 2032. The global flat glass market size was USD 272.86 billion in 2021 it is expected to reach USD 406.92 billion during the forecast period.
- Smart glass market was valued at USD 6,013 million in 2021. It is projected to grow at a CAGR of 11.2% between 2023 and 2032.
- Automotive collision repair market was worth USD 191,218 million. The market is expected to grow at a CAGR of 3% between 2023 and 2032.
- Fire-resistant Glass Market is expected to index a valuation of USD 7,113.33 million from a value of USD 4,292 registered in 2021. Throughout this forecast timeline, the global fire-resistant glass market is slated to index a CAGR of 4.7%.
- Automotive Air filters Market size is expected to be worth around USD 7.26 Billion by 2032 from USD 4.5 Billion in 2022, growing at a CAGR of 4.9% during the forecast period 2022 to 2032.
- Automotive Speed Reducers Market is expected to grow at a CAGR of 10.72% and will reach USD 30.7 Bn in 2032, from USD 11.1 Bn in 2022.
About Us:
Market.US (Powered by Prudour Pvt Ltd) specializes in in-depth market research and analysis and has been proving its mettle as a consulting and customized market research company, apart from being a much sought-after syndicated market research report-providing firm. Market.US provides customization to suit any specific or unique requirement and tailor-makes reports as per request. We go beyond boundaries to take analytics, analysis, study, and outlook to newer heights and broader horizons.
Follow Us On LinkedIn Facebook Twitter
Our Blog:
