Automotive Glazing Market: Need for Lighter, Fuel-efficient Vehicles to Shape Evolution
The larger issues of air pollution and carbon emission have had an indisputable impact on the automotive industry, as stakeholders continually work toward the development of better, lighter, and safer components for cars. The influence of this has led to manufacturers in the global automotive glazing market also taking steps to improve existing products and develop new ones that are aimed at reducing the weight of cars, thereby making them more fuel-efficient.
This is particularly significant, as countries are looking to align with the Corporate Average Fuel Efficiency/Economy (CAFÉ) regulations, which mandates manufacturers to produce fuel-efficient vehicles. While some of these newer materials and processes used for automotive glazing are expensive in comparison to traditional materials, they are still being used to reduce weight and improve the efficiency of vehicles. For instance, polycarbonate is lighter and safer in comparison to older types of glass that were used, and its application as windshields and backlites is quickly gaining traction.
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Sustainability, a megatrend in manufacturing, has also impacted the evolution of the automotive glazing market, with players increasingly focusing on sustainable alternatives to improve the efficiency of autonomous vehicles, opening up new design options for car makers.
In 2018, the global automotive glazing market registered sales of ~36 Thousand Sqm, which is likely to increase at a volume CAGR of ~3% during the forecast period (2019-2027).
Hydrophobic Automotive Glazing Gradually Gaining Traction
Since the advent of hydrophobic glazing for glass, it has only seen a stable rise in popularity among consumers and manufacturers alike, for its improved visibility and driving comfort factors. Hydrophobic glass accounted for one-sixth of the total market share by value in 2018, and is set to expand at a moderate pace over the forecast period. Its popularity can be attributed to the increase in the sales of luxury vehicles, in which its adoption remains high.
However, steadily holding the largest share in the automotive glazing market is the sun control glazing technology, which, in 2018, held around two-third of the total market share by value. The benefits that it offers include reduction of UV radiation, contributing to its continuing adoption by manufacturers and increased demand from consumers.
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With cars containing a significantly larger percentage of glass as compared to the vehicles from a few decades ago, the potential of these surfaces is ripe for the taking. Manufacturers in the global automotive glazing market are focusing on R&D to improve driving comfort, opening up new prospects to increase the efficiency of vehicles. This includes the development of smart glass technologies. For instance, in June 2019, Continental Corporation, a major player in the global automotive manufacturing landscape, announced enhancements and improvements to its Intelligent Glass Control solution, offering greater comfort, safety, and energy efficiency, overall. Developments of this nature are bound to have a positive impact on the automotive glazing market.
Automotive Glazing: Tempered vs. Polycarbonate Glass
Tempered glass has consistently been the glazing type of choice for manufacturers in the global automotive glazing market, causing it to have a monopoly in the market share in 2018, over other glazing types. While it is likely to remain the most popular among stakeholders, the segment is set to increase at a slow ~3% CAGR by volume during the forecast period. Its attributes of strength and toughness make a significant contribution to its popularity. However, the fastest growing glazing type in the market, by way of popularity, volume, and value, is polycarbonate glazing, which is set to grow at a rapid pace of ~10% over the same period. This popularity can be attributed to the lightness, flexibility, and high thermal resistance of polycarbonates, making them highly suitable for vehicles.
A side-by-side comparison of conventional tempered glass versus polycarbonate demonstrates the superiority of polycarbonate on various fronts, including weight and strength, superior thermal insulation, from the consumer’s POV, and flexibility and ease of installation for manufacturers in the automotive industry.
Analysts’ Overview
The global automotive glazing market is set to grow at a decent pace over the forecast years, due to the increasing premium being placed on driving comfort in automobiles by both, consumers and manufacturers. According to analysts at Transparency Market Research, manufacturers of automotive glazing should focus on glazing systems that improve visibility through the glass, while also increasing the fuel efficiency of the vehicle. Players in the automotive glazing market focusing on R&D of products that are sustainable are likely to maximize their gains during the forecast period.
APAC and LATAM are expected to grow the fastest in the global automotive glazing market, in the foreseeable future, and present profitable prospects for manufacturers looking to expand into these regions.
Technology is advancing at breakneck speed, with the demand for lighter and stronger glazing for glass taking precedence. The future is set to be bright for manufacturers directing their investments toward keeping pace with these consumer requirements.
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Automotive Glazing Market – Overview
- The global automotive glazing market is estimated to expand at a CAGR of ~5% between 2027 and 2027, and reach a valuation of ~US$ 61 Bn by the year 2027.
- Automotive polycarbonate glazing can be easily designed, molded, and thermoformed, leading to extensive utilization in modern manufacturing. The polycarbonate glazing segment is projected to expand significantly during the forecast period.
- The hydrophobic glazing segment is estimated to expand at a high growth rate, as hydrophobic glazing improves visibility during rain. It also prevents the accumulation of dirt and water.
- Based on application, the backlite segment is anticipated to hold a significant share of the automotive glazing market, due to higher surface area cost of the rear windshield.
- Rising consumer demand for improved fuel-efficiency and increasing stringency in emission norms is spurring the adoption of light-weighting in the automotive glazing market.
Drivers of Automotive Glazing Market
- The automotive glazing market is expanding rapidly, as this feature is lightweight and possesses superior thermal and molding characteristics.
- The automotive industry is poised for expansion in Asia Pacific, Latin America, and the Middle East & Africa, due to rising domestic demand, which is anticipated to drive the automotive glazing market. The availability of various financial options has boosted the sales of vehicles, and, in turn, is driving the growth of the automotive glazing market.
- Rise in the demand for improved esthetic appearance and enhanced visibility and visual comfort is prompting the adoption of various glazing technologies such as hydrophobic, sun control, and switchable, thereby boosting the automotive glazing market.
- Rise in wrap-around windshields and increase in glazing surface area are estimated to drive the automotive glazing market. The rising trend of sunroofs and quarter glass is projected to boost the demand for automotive glazing.
Challenges for Automotive Glazing Market
- Polycarbonate glazing components need to comply with stringent regulatory standards such as FMVSS 205, JIS R 3211, and R43. The price of polycarbonate resins and cost of establishing such coating facilities add to the overall cost of the polycarbonate glazing, thereby restricting its mass adoption.
- Specific glazing components are used for specific vehicle models, and hence, manufacturers of automotive glazing need to design and update their molds accordingly, which further drives up product cost.
- Polycarbonates contract and expand more than glass, and turn yellow and foggy, which is hampering their adoption as windshields, and restricting the growth of the automotive glazing market.
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Global Automotive Glazing Market: Key Segments
- The global automotive glazing market has been segmented based on technology, application, sales channel, glazing type, vehicle, and region.
- Based on technology, the sun control glazing segment is estimated to hold a leading share of the automotive glazing market. Rise in consumer demand for increased comfort and improved visibility has led to the adoption of sun control glazing technology. This sun control technology also minimizes fuel consumption, as it lessens load on the heating, ventilation, and air-conditioning system.
- In terms of application, the backlit segment is expected to account for a notable share of the automotive glazing market, due to its larger surface area and higher cost. The panoramic sunroof segment is projected to expand at a high growth rate, owing to a rise in the sales of premium and luxury vehicles.
- In terms of sales channel, the OEMs segment is estimated to hold a significant share, as glazing components supplied are primarily OEM-fitted, and replaced only in case of accidental damage or ageing.
- Based on glazing type, the tempered glazing segment accounted for a notable share of the automotive glazing market, owing to its preferred used in tempered and backlite glazing. Tempered glass disintegrates into blunt pieces on impact, and does not cause injury to the occupants. Moreover, it can be broken easily in case the occupant wants to exit the vehicle in emergency situations such as fire or flood.
- Based on vehicle, the passenger vehicles segment dominated the automotive glazing market. It is expected to remain a major segment during the forecast period, owing to the higher production of passenger vehicles. There is a rise in the demand for light commercial vehicles in Asia Pacific and Latin America, with rising business opportunities, which is set to boost the automotive glazing market.
Global Automotive Glazing Market: Regional Analysis
- In terms of region, Asia Pacific held a leading share of the global automotive glazing market, owing to the high volume production of vehicles in China, India, and Japan.
- Rise in domestic demand and low cost export have led to significant expansion of the automotive industry in Asia Pacific.
- Economic expansion and entry of foreign automakers are propelling automotive production in the region, which, in turn, is driving the automotive glazing market in Asia Pacific.
- Europe and North America hold significant share of the automotive glazing market, due to an established automotive industry and high demand for vehicles in these regions.
Global Automotive Glazing Market: Competition Landscape
- Key players operating in the global automotive glazing market include
- Covestro AG.
- SABIC
- Saint-Gobain
- Corning Incorporated
- Soliver
- Fuyao Group
- Nippon Sheet Glass Co., Ltd
- Glaston Corporation
- AGC Inc.
- freeglass GmbH & Co.KG.
- TEIJIN LIMITED
- Webasto
- KRD Sicherheitstechnik GmbH.
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