Automotive Glazing Market worth $1.7 billion by 2025

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MarketsandMarkets Presents

Automotive Glazing Market worth 1.7 billion by
2025
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uto-glazing-market-133207870.html
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The report "Automotive Glazing Market By
Application (Sidelite, Backlite, Sunroof,
Lighting, Rear Quarter Glass), Vehicle Type
(Passenger Car, Light and Heavy
Commercial,Off-Highway, Electric), and Region
Global Forecast To 2025", The global automotive
glazing market size is estimated to be USD 1.0
billion in 2020 and is projected to reach USD 1.7
billion by 2025, at a CAGR of 9.9. The market
will be driven primarily because of the increase
in demand for vehicle weight reduction owing to
stringent emission norms. Polycarbonate weighs
50 less than glass and provides 20 times more
strength which is estimated to drive the
automotive glazing market for polycarbonate. Brow
se 198 market data Tables and 63 Figures spread
through 251 Pages and in-depth TOC on "Automotive
Glazing Market Some of the key players in the
automotive glazing market are SABIC (Suadi
Arabia), Covestro AG (Germany), Teijin (Japan),
Webasto SE (Germany), Trinseo (US), Mitsubishi
(Japan), Chi Mei Corporation (Taiwan), Freeglass
(Germany), KRD Sicherheitstechnik (Germany), and
Idemitsu (Japan). Download PDF Brochure _at_
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Passenger car to be the largest market for
automotive glazing, by vehicle type Passenger
cars include vehicles such as hatchback, SUVs,
and sedans. According to OICA, the production of
passenger cars accounted for the maximum share of
the total global vehicle production for all the
regions including in 2020 and is expected to
dominate during the forecast period. Due to the
better adaptability to complex design and
glass-like transparency, nearly all vehicles are
equipped with polycarbonate front and rear
lightings. Applications such as sunroof and rear
quarter glass, which are used mainly in passenger
cars, are estimated to have high potential for
polycarbonate installation. With the increasing
installation of sunroof and rear quarter glass
applications in passenger cars and usage of
polycarbonate for these applications, passenger
car is estimated to be the largest segment by
vehicle type. BEV is projected to be the
fastest-growing automotive glazing market for
electric vehicle Vehicle weight reduction is
the predominant criteria in BEVs. As
polycarbonate usage in glazing will reduce the
vehicle weight by 2025 kg, it will have a huge
impact on the BEV range. Additionally, a majority
of BEVs such as Tesla Model X, Model S, Model 3,
and BMW i3 fall under the premium vehicle
category Premium vehicles are equipped with
sunroof and rear quarter glass. These
applications are estimated to garner high
potential for polycarbonate glazing. Increasing
sales of BEVs coupled with the increasing
penetration of polycarbonate glazing applications
will result in BEV being the fastest-growing
segment.
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Asia Oceania expected to be the largest
automotive glazing market Asia Oceania is the
largest automotive glazing market and is expected
to retain its position during the forecast
period. Asia Oceania has emerged as a hub for
automotive production in recent years owing to
increasing population and urbanization. According
to OICA, Asia Oceania accounted for 46 of the
global vehicle production in 2018 because of the
presence of OEMs such as SAIC, Hyundai, Toyota,
Suzuki, Tata, and Honda. Manufacturers in this
region are focused on developing specific
solutions that address fuel efficiency mandates.
As consumers in the region are showing an
increased inclination toward convenience and
safety, the region has witnessed higher growth
than the matured markets of Europe and North
America. Because of high vehicle production, the
total market size is greater than North American
and Europe because of which Asia Oceania is
estimated to be the largest automotive glazing
market.
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