Automotive Glass Market Is Expected To Reach US$ 25.22 Bn by 2027

The latest market report published by Acute Market Reports, Inc. “Automotive Glass Market – Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the automotive glass market was valued at US$ 14.70 Bn in 2018 and expected to reach US$ 25.22 Bn by 2027 at a CAGR of 6.3% throughout the forecast period from 2019 to 2027. 

Market Insights 

“Evolving need to manage hybrid IT and reduce security risk will spur revenue growth during the forecast period” 

Rapid technological advancements in the automotive industry coupled with increasing safety focus on customer safety are propelling the growth of the automotive glass market. The combination of factors including rising in the level of income of the middle class, increasing the young population are drivers fueling the growth of automotive, thus increasing the demand of the automotive glass industry across the globe. The industry is facing many changes owing to advancement in technology as well as increasing demand for sunroof is propelling the automotive glass market growth. Additionally, the introduction of new designs resulted in an increase in the size of the windshield and side windows, contributing to overall industry growth.

Rising emphasis on driver safety, quality control, and reduced costs among others are some of the factors of fueling vehicle modularization. The inclination of customers in tandem with the integration of advanced vehicle components in order to reduce weight and decrease production processing is proliferating the market demand. Changes in customer preferences and rising disposable income are promoting increased product utilization.

Industrial Developments 

• In June 2019, Asahi Glass Company Ltd., and Belron a leading glass repair and replacement company in Europe have entered into an agreement to cover operations in Poland and the Czech Republic.

• In April 2018, Asahi Glass Company Ltd. announced the launch of a new product ‘Pure Grey’. The product is an alternative to the green-tinted glass and has better performance in terms of transmitting and reflecting colors.

Key Market Movements

• Globally, the automotive glass market is rising at a CAGR of 6.3% for the period from 2019 to 2027.

• The windshield segment dominates the automotive glass market and is expected to lead throughout the forecast period. This can be associated with technological advancements including the integration of sensors and smart materials. Thus proliferating the demand of the automotive glass market.

• In addition, the sunroof segment expected to register fastest during the forecast period. This is due to, increasing adoption of the sunroof in luxury as well as other segments.

• Asia Pacific region expected to dominate the automotive glass market in terms of market revenue. This is due to the, change in buying behavior of customers in terms of style, safety, and comfort among others.

• Latin America region is anticipated to register maximum CAGR throughout the forecast period. Owing to the increasing consumer spending and expanding automotive sector in the region. 

List of Companies Covered:

• Asahi Glass Co. Ltd.
• Fuyao Group
• Nippon Sheet Glass Co.
• Corning Incorporated.
• Saint-Gobain S.A.
• Guardian Industries Corp.
• Xinyi Glass Holdings Ltd.
• Duratuf Glass Industries Pvt. Ltd.
• CSG Holding Ltd.
• China Glass Holdings Ltd.
• Central Glass Co. Ltd.

Market Segmentation

By Product Segment

 • Laminated

 • Tempered

By Application Segment

 • Windshield

 • Sunroof

 • Rear-view mirrors

 • Others (Sidelite, Backlite, etc.)

By Vehicle Type Segment

 • Passenger Vehicles

 • Commercial Vehicles

 By End-use Segment

 • OEM

 • ARG

By Geography Segment Type

• North America (the U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (the Middle East & Africa, Latin America)