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Automotive Polycarbonate Glazing Market to Observe Strong Development by 2025
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According to TMR, the automotive polycarbonate glazing market stood at US$816.1 mn in 2016 in terms of revenue. Expanding at a CAGR of 9.0% between 2017 and 2025, the market is projected to be worth US$1,770.5 mn by 2025.
The sunroof segment is expected to be the most attractive application segment between 2017 and 2025, whereas front windshield is expected to display the least market share. This is because major developed countries of the world have regulations that specify only laminated glass for windshield application. Asia Pacific contributed the dominant 40% revenue to the global automotive polycarbonate glazing market in 2016.
Benefits of Reduced Fuel Consumption for Vehicular HVAC Systems Favor Market
The vast advantages of polycarbonate material over glass in automotive glazing have boosted adoption of polycarbonate glazing in the automotive sector. This includes easy to shape property, better thermal strength, and high impact resistance than glass irrespective of its less weight. Polycarbonate glazing has better design and functional integration than glass glazing.
The use of polycarbonate resins is beneficial to the environment as well. The use of polycarbonates reduces vehicle weight, which in turn improves fuel efficiency and reduces vehicle emission. In addition, polycarbonate helps to reduce HVAC load because of which fuel needed to maintain the temperature inside a vehicle is less. Thus, the fuel efficiency of the vehicle is improved and emissions reduced.
In particular, in developed countries, stringent regulations in to improve fuel efficiency and reduce vehicle emissions is having a positive impact on the adoption of polycarbonate glazing. For example, in 2011, the U.S. president announced plans for increased fuel efficiency for cars and light-duty trucks by 2025.
Stringent Regulations Restrict Use of Polycarbonates in Developed Countries
Despite the positive factors, the global market for automotive polycarbonate glazing is restrained by a few factors. For instance, regulatory impact, cost, and material properties of polycarbonates are posing a challenge to the automotive polycarbonate glazing industry. For instance, in the U.S., the Federal Motor Vehicle Safety Standards specifies only laminated glass, tempered glass, and glass-plastic for automotive glazing standards. Therefore, the regulatory environment in major automotive markets such as the U.S., Europe, and Japan specifies laminated, tempered, or toughened glass for automotive glazing. The use of plastics including polycarbonates is restricted in these geographies for automotive glazing.
While polycarbonates display high impact resistance than glass in terms of material property, they are not scratch resistant. This requires polycarbonates to be coated with a coating material to make them scratch resistant. This, in turn, increases the cost of automotive polycarbonate glazing restricting their adoption in the automotive sector.
Nevertheless, the adoption of polycarbonate glazing is anticipated to rise with the increasing production of electric vehicles and automotive lighting. Panoramic roofs also present opportunity for polycarbonate glazing which will significantly reduce vehicle weight and, in turn, improve fuel efficiency and vehicular emissions.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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