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Global Automotive Glass Market: A Comprehensive Market Research Report
Automotive Glass Market
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The tempered glass segment is expected to grow at a high CAGR from 2022 to 2028
The tempered glass market is predicted to expand rapidly over the forecast period. Tempered glass is well-known for its high rigidity, which protects vehicle occupants in an accident. Tempered glass is commonly used in passenger car windows, while laminated glass is utilized in windshields. Increased safety restrictions on automotive glass and increased passenger vehicle sales will aid in penetrating tempered glass in automobile manufacturing.
The sidelites segment in the automotive glass market is expected to be the fastest-growing node size segment during the forecast period
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The sidelites segment revenue is anticipated to increase significantly. The sidelites automotive glass shields the driver and passengers from UV rays, wind, debris, and harsh weather. Automotive glass producers are also developing sidelites glass that can maintain a cool interior regardless of the outside temperature. The demand for sidelites glass, which not only offers protection but also improves the aesthetic appeal of the automobile, is fuelled further by the production of electric vehicles.
Sunroof category of automotive glass market to record highest CAGR from 2022 TO 2028
The sunroof sector is expected to grow significantly in the automotive glass market. A sunroof gives more control over how much light can enter the car. Market expansion in this sector is probably driven by rising investments by new market entrants and the demand for energy-efficient products. Additionally, several governments, particularly those in developing nations, actively promote environmentally friendly automobiles to comply with ever-stricter emission standards. For instance, Panasonic created a 180-W solar photovoltaic car roof for the Toyota Prius plug-in hybrid electric vehicle (PHEV), which is predicted to boost vehicle economy by up to 10%. Hence, numerous investments by market players and government financing have spurred the progress of solar sunroof technology, likely to fuel the sunroof segment expansion.
Asia Pacific to hold the largest automotive glass market share from 2022 to 2028
The Asia Pacific to hold the largest automotive glass market share from 2022 to 2028 due to the region's rapid increase in vehicle manufacturing. The strong economic expansion, increasing disposable income, and consequent rise in the region's need for commercial cars all contribute to the growth. The region's automotive glass market is expanding due to increased investments in the automotive sector. Furthermore, the world's largest auto manufacturer in China. The region's automotive glass market is expanding as a result of the large economic resources available for the assembly and production of automotive parts in China and India, the presence of well-established glass manufacturing companies, expanding R&D capabilities, and the construction of several new production facilities in China to meet the expanding demand for electric vehicles. For instance, in November 2019, a joint venture agreement was signed between SAIC and Volkswagen to establish its first manufacturing facility in Anting, China. Production started there in October 2020 with a 300,000-unit capacity per year.
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Key players in the automotive glass market include AGC Inc., Corning Incorporated, Central Glass Co. Ltd., Fuyao Glass Industry Group Co., Ltd., Saint-Gobain, Taiwan Glass Ind Corp, Xinyi Glass Holdings Co., Ltd. Guardian Industries, Nippon Sheet Glass Co. Ltd., and ÅžiÅŸecam Group are among a few emerging companies in the automotive glass market.
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