Rising Demand for Automotive Glass : Market Expected to Reach $31.2 Billion by 2031

According to the report published by Allied Market Research, the global automotive glass market was estimated at in 2021 and is expected to hit $31.2 billion by 2031, registering a CAGR of 6.8% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.

Asia-Pacific dominated the global automotive glass market in 2021. China is expected to hold a dominant revenue share during the forecast period owing to the presence of key companies such as Fuyao, and AGC among others. In addition, the increase in concerns about climate change and rise in fuel prices, and the demand for electric vehicles (EVs) has been on the rise in the region which has led to a growing demand for specialized automotive glass that is lighter, more durable, and provides better insulation.

𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/4827

The major companies profiled in the automotive glass market include𝐀𝐬𝐚𝐡𝐢 𝐆𝐥𝐚𝐬𝐬 𝐂𝐨. (𝐀𝐆𝐂), 𝐍𝐢𝐩𝐩𝐨𝐧 𝐒𝐡𝐞𝐞𝐭 𝐆𝐥𝐚𝐬𝐬 𝐂𝐨., 𝐋𝐭𝐝., 𝐅𝐮𝐲𝐚𝐨 𝐆𝐫𝐨𝐮𝐩, 𝐗𝐢𝐧𝐲𝐢 𝐆𝐥𝐚𝐬𝐬, 𝐒𝐚𝐢𝐧𝐭 𝐆𝐨𝐛𝐚𝐢𝐧 𝐒.𝐀., 𝐆𝐮𝐚𝐫𝐝𝐢𝐚𝐧 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐞𝐬, 𝐖𝐞𝐛𝐚𝐬𝐭𝐨 𝐒𝐄, 𝐌𝐚𝐠𝐧𝐚 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐜., 𝐂𝐨𝐫𝐧𝐢𝐧𝐠 𝐈𝐧𝐜𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞𝐝 𝐚𝐧𝐝 𝐓𝐚𝐢𝐰𝐚𝐧 𝐆𝐥𝐚𝐬𝐬 𝐈𝐧𝐝 𝐂𝐨𝐫𝐩.

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 :

The outbreak of COVID-19 led to reduced demand for automotive glass. The pandemic caused disruptions in the supply chain, which impacted the production and delivery of automotive glass products. Many manufacturers faced difficulties sourcing raw materials and components, and transportation disruptions led to delays in shipping and delivery. However, as people become more hesitant to use public transportation and ride-sharing services, there may be an increase in demand for personal vehicles. This could lead to an increase in demand for automotive glass products. In addition, automakers may increasingly turn to advanced glass technologies, such as smart glass and heads-up displays, to differentiate their products and offer enhanced features to consumers. Furthermore, the pandemic has highlighted the need for sustainable transportation, and there may be a shift toward electric and autonomous vehicles. These vehicles require specialized glass products, which could lead to an increase in demand for automotive glass manufacturers that produce these products.

There is a growth in demand for automotive glass products that offer enhanced safety and security features. This includes laminated glass, which can help prevent shattering and reduce the risk of injury in the event of an accident. In addition, laminated glass is gaining popularity due to its safety features, such as reducing the risk of shattering and injury in the event of an accident. In addition, advancements in glass technology, such as electrochromic glass, are being developed to enhance functionality and safety features. The growth in demand for electric and autonomous vehicles drives the need for specialized glass products, such as larger and more complex windshields. Furthermore, the increase in focus of automotive industry on sustainability drives demand for eco-friendly automotive glass products, such as glass products made from recycled materials. Moreover, there is a rapid expansion of emerging markets, such as Asia and Latin America, that drive the demand for automotive glass products in these regions.

On the basis of type, the global automotive glass market has been bifurcated into laminated and tempered. European automakers are pioneers in installing laminated side glass in the luxury vehicle segment. Compared to tempered glass, laminated glass offers increased safety for occupants in the event of a vehicle rollover. The use of laminated glass in automobiles has increased significantly over the last five years due to this advantage. In addition, some OEMs in Europe have standardized side glazing on, some of their best-selling cars. For instance, models such as the Peugeot 507 and 607, Mercedes-Benz S-Class, Jaguar XJ, and Citroën C6 come standard with laminated side windows.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/global-automotive-glass-market/purchase-options

Furthermore, glass manufacturers are introducing new side-glazing laminated glass for vehicles and also plan to mass-produce these glasses in the next few years, which is expected to boost the growth of the automotive glass market. For instance, AGC has developed a new laminated glass product called Saflex® Earth T, which uses a new interlayer made from up to 60% post-consumer recycled material. The product is designed to reduce the carbon footprint of automotive glazing and is being used by several major automakers. Similarly, Fuyao has developed a new laminated glass product called iStream® A2, which is designed to meet new regulations for automotive side windows of the European Union. The product uses a special interlayer that provides high acoustic performance while also being thinner and lighter than traditional laminated glass.  

Significant factors that impact the growth of the automotive glass market comprise an increase in demand for passenger cars and commercial vehicles worldwide. The development of new and advanced glass technologies, such as smart glass and augmented reality displays, contributes to market growth. In addition, rise in concerns about vehicle safety and regulations mandating the use of high-quality glass in automobiles are fueling demand for automotive glass. The growth in popularity of electric and hybrid vehicles, which require specialized glass products, is also expected to drive market growth in the coming years. However, volatility in raw material prices and economic slowdowns or recessions can have a significant impact on the automotive industry, which in turn affects demand for automotive glass products.

Furthermore, many governments have implemented incentives and subsidies for the purchase of electric and hybrid vehicles, which require specialized glass products. For instance, the government of Canada provides incentives of up to $5,000 for the purchase of electric and hybrid vehicles. This has led to an increase in demand for automotive glass products used in these vehicles, such as sunroofs and windows. In addition, implemented safety regulations that require automakers to use high-quality glass products that meet specific safety standards which have driven demand for automotive glass products that meet these requirements.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/4827

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 :

On the basis of type, the Tempered segment is anticipated to exhibit significant growth in the near future.

On the basis of application, the Sunroof segment is anticipated to exhibit significant growth in the near future.

On the basis of vehicle type, the Commercial Vehicles segment is anticipated to exhibit significant growth in the near future.

On the basis of end-user, the Aftermarket segment is anticipated to exhibit significant growth in the near future.

On the basis of region, North America is anticipated to register the highest CAGR during the forecast period.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :

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https://www.alliedmarketresearch.com/india-bike-taxi-market-A15920

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https://www.alliedmarketresearch.com/north-america-and-europe-high-performance-tires-market-A16253

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :

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𝐀𝐛𝐨𝐮𝐭 𝐮𝐬 :

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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