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Augmented Demand for Lighter Vehicles to Drive Automotive Polycarbonate Glazing Market and predicted to touch US$ 1,770.5 mn by 2025
Polycarbonates are plastics that at contain the chemical carbonate group. They are transparent like glass and are flexible having high thermal resistance. Polycarbonates are used in plastic lens in eyewear, CDs, DVDs, medical devices, and exterior lighting fixtures among others.
Polycarbonate material are used in glazing or window installation in the automotive sector. Polycarbonates display the property to be cooled and re-heated without material degradation. They help in better shape, design, and styling of automobile windows and provide better design and functional integration than glass glazing.
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A major opportunity in the market for automotive polycarbonate glazing is the rising acceptance of electric and hybrid vehicles. Automobile giants such as Volvo Car Corp. BMW AG, and Daimler AG have plans to increase production of electric vehicles in the forthcoming years. Polycarbonate glazing is useful in reducing weight of electric vehicles, which in turn, helps improve fuel efficiency and reduce vehicular emission. Another major opportunity for automotive polycarbonate glazing is for automotive lighting.
Transport regulations in developed regions is a major restraint to the automotive polycarbonate glazing market. For example, the transport regulation in the U.S. under the Federal Motor Vehicle Safety Standards (FMVSS) 205 specify only laminated and tempered glass in automotive glazing. Polycarbonate materials are not scratch resistant and need to be coated with special coating chemicals through plasma coating or wet coating technology. This increases the cost of glazing in automobiles when polycarbonate materials are used.
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Passenger Vehicle Expected to Hold Increased Market Share by 2025
In terms of application, the market is segmented into front windshield, rear windshield, side window, and sunroof. Amongst these, side window segment contributed the dominating revenue of 43.7% to the overall market in 2016. This was followed by front windshield segment contributing 21.1% revenue to the market in 2016.
On the basis of vehicle type, the market is classified into passenger vehicles and commercial vehicles. Of the two, passenger vehicles contributed a phenomenal 73.8% revenue to the automotive polycarbonate glazing market in 2016. The revenue contribution of this segment is poised to reach 74.4% by 2025.
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Asia Pacific to Continue Contributing Significant Revenue to Market
The global market for automotive polycarbonate glazing is divided into the regional segments of North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. Asia Pacific, amongst these, held the leading share of 40.0% in the market in 2016. Major domestic markets for automotive polycarbonate glazing in the region are China, Japan, South Korea, Australia, and India. Polycarbonate glazing in the automotive sector is used in India in high-end vehicles including bulletproof cars.
Europe stood as the second-leading regional segment in 2016 holding 29.0% of the market. This was followed by North America accounting for 24.0% of revenue of the overall market in the same year. In 2016, Germany held the leading share of 30.0% in the market followed by the U.K., France, Italy, Spain, and the rest of Europe.
Key vendors in the market for automotive polycarbonate glazing profiled in this report include Covestro AG, Webasto SE, SABIC, KRD Sicherheitstechnik GmbH, Freeglass GmbH & Co. KG, Teijin Ltd, Engle Machinery Inc.,, Exatec LLC, and Gallina.
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