How is Growing Vehicle Production Driving Automotive Window and Sealing Systems Market?

The automotive industry is witnessing significant growth, which is attributed to the rising production of vehicles. The disposable income of people in emerging economies, such as Indonesia, China, and India, is rising, which is resulting in an increased demand for commercial and passenger vehicles. The growing disposable income of people, in both developing and developed countries, has led to better standard of living, owing to which the customers are increasingly spending a part of their income on vehicles. This rising growth in the sales of vehicles is further generating a growing requirement for automotive window and sealing systems.

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Automotive window and sealing systems are utilized for sealing applications in automobiles. As per a report by P&S Intelligence, the global automotive window and sealing systems market generated a revenue of $21.7 billion in 2017 and is further expected to attain $38.7 billion by 2025, advancing at a 7.6% CAGR during the forecast period (2018-2025). The different materials which are utilized for making various automotive window and sealing system components are thermoplastic elastomer (TPE), ethylene propylene diene monomer (EPDM), and thermoplastic vulcanizer (TPV). Among these, the largest demand during 2013-2017 was created for EPDM, and the fastest growth in demand is projected to be witnessed by TPE during the forecast period.

Among the different regions, namely Asia-Pacific (APAC), North America, Europe, and Rest of the World, the APAC region created the largest demand for automotive window and sealing systems during 2013-2017 and is predicted to retain its position in the coming years as well. The major reason for this is the rising production of vehicles in developing countries. Apart from this, the European market is also registering significant growth due to the increasing demand for electric vehicles, which is further generating rising requirement for automotive window and sealing systems in the region.

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Competitive Landscape of Automotive Window and Sealing Systems Market

The global automotive window and sealing systems market is fragmented in nature, with the presence of major players, such as Cooper Standard Holdings Inc., Hutchinson Sealing Systems Inc., and Toyoda Gosei Co. Ltd. In recent years, the players have taken several strategic measures, such as facility expansions and partnerships. For instance, in June 2018, DURA Automotive Systems announced its plans to establish a new manufacturing facility in the Republic of Macedonia. The new facility will be dedicated to the development and manufacturing of the company's lightweight offerings. Lightweight aluminum exterior trims and roof rail systems are expected to be the facility's initial product offerings to address the needs of European OEMs. The 16,000-square-meter (172,000 square feet) facility is expected to employ around 500 people when it starts its operations in 2019.

Global Automotive Window and Sealing Systems Market Segmentation

By Component

Glass Run Channel
Waist Belt Seal
Roof Ditch Molding
Hood Seal
Trunk Seal
Front Windshield Seal
Door Seal
Rear Windshield Seal
Sunroof Seal
Encapsulated Glass
Corner Molding
End Cap
By Material

Thermoplastic Elastomer (TPE)
Thermoplastic Vulcanizer (TPV)
Ethylene Propylene Diene Monomer (EPDM)
Others
By Application

Passenger Cars
Commercial Vehicles
Electric Vehicles
By End Use

OEMs
Aftermarket

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This release was published on openPR.