Automotive Glass Market Forecasts to 2028 – Global Analysis By Vehicle Type (Trucks, Passenger Cars, Buses, Light Commercial Vehicles, Other Vehicle Types), Glass Type (Tempered Glass, Laminated Glass, Other Glass Types), Material Type (Tinted Glass, IR P

Automotive Glass Market Forecasts to 2028 – Global Analysis By Vehicle Type (Trucks, Passenger Cars, Buses, Light Commercial Vehicles, Other Vehicle Types), Glass Type (Tempered Glass, Laminated Glass, Other Glass Types), Material Type (Tinted Glass, IR PVB, Metal Coated Glass, Other Material Types) and Others

According to Stratistics MRC, the Global Automotive Glass Market is accounted for $23.6 billion in 2022 and is expected to reach $36.2 billion by 2028 growing at a CAGR of 7.4% during the forecast period. The main element that contributes to both the passengers' and the vehicle's safety is automotive glass. In order to keep the passengers secure, it avoids external obstructions. It has been improved with the development of cutting-edge features including enhanced visibility, noise reduction from outside, and temperature regulation.

According to Organisation Internationale des Constructeurs d'Automobiles (OICA) in 2016, 39.4 million units of passenger cars were sold in this region, up from 36.1 million units in 2015. It also stated that in 2016, China held 61.8% share of the total Asia Pacific passenger cars sales and 35.1% of the global passenger cars sales. Hence, China was the largest market in the region in 2016.

Market Dynamics

Driver:

Increasing popularity of innovative automotive glass

With its numerous benefits, solar reflective glass is replacing conventional glass more and more. Infrared rays can be absorbed by solar reflecting glass, which lowers the temperature inside an automobile. Since the glass lessens the impact of ultraviolet light on interior trim, passengers are more comfortable inside the vehicle. Further enhancing vehicle appearance and satisfying consumer aesthetic aspirations is solar reflecting glass. These technologies provide automobiles with a number of benefits, including dependability, lighter weight, and adherence to crash test rules. It is anticipated that OEMs would soon adopt the technology glass idea to enhance the comfort and safety aspects in automobiles.

Restraint

Decline in automobile production and sales

Windshields and windows are standard equipment on all passenger and commercial vehicles. As a result, the global market for automotive glass will be impacted by the total manufacturing and retailing of vehicles. The demand for numerous automotive components has decreased as a result of the global automotive market's downturn in sales and production. Several significant automobile producing nations, like India, Japan, and the US, also saw a fall in vehicle output. Yet, a decrease in the rate of increase of car sales is driving Manufacturers to curtail output by driving up the cost of their inventory. These variables may have a negative impact on auto sales and production, which would decrease demand for glass and other automotive parts, which would impede the expansion of the global automotive glass market.

Opportunity

Pros of automotive glass

The market is also influenced by a surge in manufacturers switching from traditional soda-lime glasses to chemically tempered glass, as well as a growth in the manufacturing and marketing of electric vehicles, electric vehicle emphasis globally, and electric vehicle production and sales. The adoption of chemically tempered glass to increase performance and durability, interest in lightweight and energy-efficient products, growth of the automotive industry, increase in investments, and rise in disposable income provide profitable opportunities to market participants over the course of the forecast period.

Threat

High Cost and Intensive Capital Investment

Laminated glasses seems to be more costly over tempered glass, and because of this, the technology isn't frequently employed in impoverished nations. In addition, producing thin laminated glass with side windows and investing heavily in research and development are both necessary. This investment and the focus on reducing consumer and production costs are expected to hinder the market's growth.

Covid-19 Impact

Government restrictions and lockdowns related to the COVID-19 outbreak have limited the supply of raw materials and the sale of finished goods in the global automotive glass sector. Also, the COVID-19 epidemic lockdowns and governmental rules have seriously hampered key industrial processes that are necessary for the production of vehicle glass. As a consequence, the majority of plants producing vehicle glass have closed or are working at a smaller power. Due to the general decline in end-user activity, there was a decline in demand for automotive glass, which changed the demand-supply dynamics. On the other hand, the market's possibilities are anticipated to be revived by the anticipated growth in the automobile sector.

The tempered glass segment is expected to be the largest during the forecast period

The tempered glass segment is estimated to have a lucrative growth, due to its inexpensive cost, excellent strength, and resilience. The product is less costly than laminated automobile glass and has 4-5 times the toughness of a typical float. It is the most common form of glass used in the automobile industry, particularly for windshield and backlights.

The windshield segment is expected to have the highest CAGR during the forecast period

The windshield segment is anticipated to witness the fastest CAGR growth during the forecast period. Windshields are an essential component of a car's safety system since they shelter the occupants from the elements and lower the possibility of accidents. Laminated glass, which offers more security and strength than tempered glass, is typically used to make windscreens. Further advantages of contemporary windscreens include sound absorption, UV protection, and cutting-edge features like a heads-up display (H.U.D.) and rain sensors.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to infrastructure quickly evolving as well as rising production and sales in nations like China and India. The region's automotive glass market is expanding primarily due to the expanding luxury and premium automobile market in Asia-Pacific and the region's expanding automotive sector. The changed priorities and growing spending capacity of people in the area are to blame for the rising demand for luxury cars. To maintain pace with the soaring demand for cars, manufacturers are responded by placing a priority on efficiency improvements. This has led to a rise in the number of sunroof-equipped automobiles being produced, which is excellent news for the sector as a whole.

Region with highest CAGR

Europe is projected to have the highest CAGR over the forecast period. The preference for environmentally friendly cars, the mature and sizable business for auto component as well as automobile production, the favourable policies implemented by the EU government, the strict government regulations regarding driver and passenger safety, the requirement for hybrid cars to manufacturers concentrating on sustainability, the rising sales of luxury cars with both the demand for sunroofs and other environmentally friendly features, and the preference for electric vehicles, innovations, favourable government policies, and new plants also, the UK Automotive Glass market grew at the quickest rate in the European area, while the Germany Automotive Glass market had the greatest market share.

Key players in the market

Some of the key players profiled in the Automotive Glass Market include Saint Gobain, Central Glass Co., Ltd., Taiwan Glass Ind Corp, Magna International Inc., Asahi Glass Co., Ltd., Nippon Sheet Glass Co. Ltd., Gentex Corporation, Dura Automotive Systems, Glas Trosch Holding AG, Guardian Industries Corporation, Hitachi Chemical Co., Ltd. , Asahi India Glass Limited, PGW Auto Glass, LLC and Olimpia Auto Glass Inc.

Key Developments

In April 2021, Saint Gobain, a French glassmaker, announced the launch of a new float-glass line at its integrated glass manufacturing operation in Sriperumbudur, near Chennai, on March 9, 2022, to produce glassware for electric vehicles and solar panels. The new line will increase Saint Gobain India's float-glass output by 30% while also assisting the company in becoming more environmentally friendly.

Vehicle Types Covered:
• Trucks
• Passenger Cars
• Buses
• Light Commercial Vehicles
• Other Vehicle Types

Glass Types Covered:
• Tempered Glass
• Laminated Glass
• Other Glass Types

Material Types Covered:
• Tinted Glass
• IR PVB
• Metal Coated Glass
• Other Material Types

Technologies Covered:
• Liquid Crystal Glass
• Active Smart Glass
• Thermochromic
• Suspended Particle Glass
• Passive Glass
• Photochromic
• Electrochromic Glass

Applications Covered:
• Sideview Mirror
• Windshield
• Rearview Mirror
• Backlite
• Sidelite
• Rear Quarter Glass
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements