Automotive Glass Market Outlook: Size, Share, Segments, Competitive Landscape, and Trends from 2021-2031

The global Automotive Glass Market size was valued at $16.4 billion in 2021 and is projected to reach $31.2 billion by 2031, growing at 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.

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The automotive glass industry involves the production and distribution of glass used in vehicles, including cars, trucks, buses, and trains. Automotive glass serves multiple purposes, including providing visibility, protecting passengers from wind and debris, and enhancing the structural integrity of the vehicle.

The report offers a detailed segmentation of the global automotive glass market based on type, application, vehicle type, end user, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.

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Based on type, the laminated segment accounted for the highest share in 2021, generating more than three-fifths of the global automotive glass market revenue and is projected to rule the roost in terms of revenue by 2031. However, the tempered segment is expected to register the highest CAGR of 8.0% from 2022 to 2031.

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.

The key players profiled in this report include

Leading market players of the global automotive glass market analyzed in the research include Corning Incorporated, Fuyao Group, Webasto Group, Magna International, Inc., Nippon Sheet Glass Co., Ltd., Xinyi Glass Holdings Limited., Taiwan Glass Industry Corporation, Saint Gobain, Guardian Industries, and AGC Inc.

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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.

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Based on end user, the original equipment manufacturer segment accounted for the highest share in 2021, generating nearly four-fifths of the global automotive glass market revenue and is projected to rule the roost by 2031. The aftermarket segment, on the other hand, is expected to manifest the fastest CAGR of 8.8% during the forecast period.

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.

Regional Analysis:

By region, Asia-Pacific held the major share in 2021, garnering nearly three-fifths of the global automotive glass market revenue and is projected to rule the roost by 2031. However, the North America region would showcase the fastest CAGR of 9.8% during the forecast period.

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