Automotive Glass Market – World Analysis and Forecast To 2025
The value of the Automotive Glass Market projected to grow at a CAGR of 4.80% from 2017 to 2025, growing from USD 16.21 Billion in 2017 to reach a market size of USD 23.59 Billion by 2025.
Increasing vehicle production, especially the SUV segment, and increasing glass applications as well as average area per car are some of the key factors fueling the glass demand in the automotive industry. Additionally, safety regulations related to glass, demand for lightweight glass, upcoming smart glass technologies that enhance visibility and provide protection from UV rays are few other factors influencing the demand of glass in the automotive industry.
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Demand-Side Analysis:
1 Increasing Vehicle PARC and Sales Driving the Demand for Automotive Glass Aftermarket
2 Increasing Production of SUVs and Luxury Passenger Cars Driving the Automotive Glass Market (OE)
3 Growing Demand for Advanced Materials for Automotive Glass Manufacturing
Supply-Side Analysis:
1 Technological Advancements
2 Increasing Demand for IR-PVB Glass Material
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 the 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.
Target Audience:
- Automotive glass manufacturers
- Automotive smart glass manufacturers
- Device embedded glass manufacturers
- Suppliers of raw material for automotive glass
- Experts from the automotive smart glass industry
- Dealers and distributors of automotive glass
- Automotive Original Equipment Manufacturers (OEMs)
- Automobile industry and related end-user industries
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Opportunities:
1 Smart Glass: Lightweight & Energy Efficient
2 Device-Embedded Glass
Some of the key manufacturers operating in the market are Saint-Gobain (France), Asahi Glass (Japan), Fuyao Glass (China), Samvardhana Motherson (India), Webasto (Germany) and Nippon Sheet Glass (Japan).