‘Functional Glass Coatings Market for the Automotive Industry to become US$ 374.6 million opportunity in 2023’– Stratview Research Market Report

As per the latest market intelligence report published by Stratview Research, the Functional Glass Coatings Market for the Automotive Industry is anticipated to reach at US$ 374.6 million by 2023.

The research studies Functional Glass Coatings Market for the Automotive Industry in the trend period of 2012 to 2017 and forecasted period of 2018 to 2023 under Seven segments by Vehicle Type (Passenger Car, Light Commercial Vehicle, and Medium- & Heavy-Duty Commercial Vehicle), by Application Type (Windshield, Sidelite, Backlite, and Sunroof), by Material Type (Black Glass Enamel, Glass-Ceramic Enamel, and Conductive Silver Paste), by Glass Type (Laminated Glass and Tempered Glass), by Process Type (IR Drying and UV Curing), by Media Type (Oil-based and Water-based), and by Region (North America, Europe, Asia-Pacific, and Rest of The World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023
The study finds –
 Passenger car is expected to remain the growth engine of the global functional glass coatings market during the forecast period.
 Sunroof is expected to be the highest-growing segment in the functional glass coatings market for the automotive industry during the forecast period.
 Black glass enamel is a traditional functional coating material and is expected to remain the largest segment of the global functional glass coatings market for the automotive industry during the forecast period.
 Laminated glass is also known as laminated safety glass as it provides safety to the driver and passengers during an incident of a vehicle.
 Asia-Pacific is expected to remain the largest functional glass coatings market for the automotive industry during the forecast period.

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Functional Glass Coatings Market for the Automotive Industry: Highlights
The global functional glass coatings market for the automotive industry is projected to reach an estimated value of US$ 374.6 million in 2023. Over the next five years, growth prospects of the functional glass coatings market for the automotive industry seem promising with a plethora of opportunities across regions for both existing as well as new players. Development of more innovative solutions is an indispensable focus area for the industry players manufacturing functional coatings, due to the changing customer needs with evolving trends, rapid transformation in vehicle design and technologies, and intense market competition.

There are a host of factors burgeoning the demand for functional coatings for automotive glass applications. The biggest driving factor among all is organic growth of automobile production. Currently, the global automobile production has been at its peak with all four regions marking overall positive developments in the production of automobiles. China, India, Southeast Asia, and North Africa will fuel the growth of the automotive industry in the coming five years. It is very important for the functional coating manufacturers to realign themselves based on the shifting opportunities from the developed economies to the developing economies including China and India.

Another trend happening in the industry is an increased demand for autonomous vehicles and green vehicles. All the major automakers are putting efforts for the development of electric/hybrid vehicles as well as autonomous vehicles in order to quickly gain market share in the industry. This trend is leaving a multi-edged impact on the functional coatings market as the industry is demanding greener functional coating materials to make vehicles more environmentally friendly as well as a shifting paradigm of the industry with a focus on the development of robust coatings for thinner glass.

In addition to that, the rapidly changing automotive industry dynamics, such as more glass surface area per vehicle, more complex glass shapes to make vehicle more aerodynamic, increasing production rates of glass manufacturing in order to achieve economies of scale, and the development of thinner and stronger glass in order to make vehicle lighter in weight are also imprinting a great impact on the demand for functional coatings. There is greater demand for functional coatings that can offer excellent UV resistance, heat resistance, more privacy to passengers, and higher strength.

The global functional glass coatings market for the automotive industry is segmented based on vehicle type as Passenger Car, LCV, and M&HCV. Passenger car is expected to remain the growth engine of the global functional glass coatings market during the forecast period of 2018 to 2023. Increasing demand for SUVs and hatchbacks in the developing economies as well as in the highly congested cities of the developed economies is the key factor, propelling the demand for functional coatings in passenger cars.

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The market is segmented based on the application type as family-fun pontoon, fishing pontoon, cruising pontoon, watersports pontoon, and others. Family-fun pontoon is expected to remain the growth engine of the market during the forecast period of 2018 to 2023, driven by an increased preference of pontoon boats by families for fun over other boats, increasing trend of family outing, and affordability of pontoon boat.

Based on the tube type, the market is segmented as two-tube pontoon and three-tube pontoon. Two-tube pontoon boat is expected to remain the larger segment of the market during the forecast period, whereas three-tube pontoon boat is expected to witness a higher growth in the same period.
In terms of regions, North America currently is the leading pontoon boat market with the USA being the major driver. The region is likely to remain the key growth engine of the global market over the next five years as well. Most of the major pontoon boat manufacturers have an excellent presence in the region to cater to the growing market potential. Asia-Pacific also holds a considerable share in the market and is likely to grow at an impressive rate in the coming five years. Australia and New Zealand are the key markets in the region.

Some of the key pontoon boat manufacturers are Polaris Industries Inc., White River Marine Group, Forest River Inc., Brunswick Corporation, and Avalon pontoon boats.

Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
 Market structure: Overview, industry life cycle analysis, supply chain analysis
 Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
 Market trend and forecast analysis
 Market segment trend and forecast
 Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
 Attractive market segments and associated growth opportunities
 Emerging trends
 Strategic growth opportunities for the existing and new players
 Key success factors
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