Wilmington, Delaware, United States, May 24, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global automotive polycarbonate glazing market reached US$ 723.8 million by 2021. It's estimated that the market for automotive polycarbonate glazing will reach US$1.6 billion by 2031.
Polycarbonate is an efficient material that can offer features like weight reduction, containment of occupants, and versatility in design. Due to its lightweight properties, polycarbonate makes cars lighter, improving efficiency and performance. Automobile glazing uses polycarbonates because of their better performance, streamlined parts, and cost-saving capabilities.
Among the major applications of lightweight materials in the automotive industry, automotive glazing stands out as an area of significant growth. Glazing in cars is commonly used on windshields, rear windows, side windows, and panoramic roofs.
Exatec® 900 polycarbonates automotive window glazing system has been approved by the National Highway Traffic Safety Administration (NHTSA) of the US Department of Transportation as a glazing system that meets all existing automobile glazing requirements for non-windshield glazing. Laboratory testing demonstrates that the system meets the National Highway Traffic Safety Administration's Federal Motor Vehicle Safety Standards (FMVSS).
The approval of polycarbonate glazing allows the material to be used worldwide, not just in the USA. All current automobile requirements are met by Exatec® 900, except for the windshield.
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Market Scope:
| Report Coverage | Details | |
| Market Revenue | USD 723.8 Mn | |
| Estimated Value | USD 1.6 Bn | |
| Growth Rate - CAGR | 8.3% | |
| Forecast Period | 2022 - 2031 | |
| No. of Pages | 210 Pages | |
| Market Segmentation | Technology, Application, Sales Channel, Vehicle Type | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America | |
| Key Players | SABIC, Covestro AG, Saint-Gobain, Corning Incorporated, Nippon Sheet Glass Co., Ltd, Fuyao Group, AGC Inc., TEIJIN LIMITED, freeglass GmbH & Co.KG., Webasto, Peerless Plastics and Coatings, dott.gallina s.r.l., KRD Sicherheitstechnik GmbH., Flexigard | |
Key Findings of Market Report
- The demand for sun control glazing is expected to grow as automakers adopt next-generation coating technologies.
- As more advanced technology is adopted in passenger cars, demand for advanced vehicle styling and improved safety systems will grow.
- Increasing demand for eco-friendly products for automotive and PC will lead to new growth opportunities in the near future.
- Polycarbonates have become widely used in automotive glazing applications due to recent advancements in polymer compounding technology.
- With new curvature, 3-D styling, and new color options, OEMs can improve the look of their cars and stand out from the crowd.
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Global Automotive Polycarbonate Glazing: Growth Drivers
- The rise in the demand for fuel-efficient cars and the improved aesthetics of passenger cars through the use of automotive polycarbonate glazing is driving the market's growth.
- With its excellent durability, lightweight, and security, polycarbonate has become one of the most popular materials for making panoramic roofs due to its durability, lightweight, and security features.
- Government regulations have been stricter in recent years, and automakers are now being forced to pay more attention to emissions standards. Due to these factors, the adoption of electric vehicles is increasing at a rapid pace.
- Due to their superior fuel efficiency, electric and hybrid vehicles are becoming more popular than traditional gasoline-powered cars. In addition to reducing weight and improving aerodynamics, polycarbonate glazing enhances the performance of these vehicles.
- Manufacturers of electric vehicles have been adamant about reducing the weight of their vehicles for a very long time. It has been proven that polycarbonate glazing is a suitable solution for their needs. As a result, major EV manufacturers have adopted polycarbonate glazing in their vehicles.
Global Automotive Polycarbonate Glazing: Regional Landscape
- As passenger vehicles became more prevalent in developing countries, the Asia Pacific automotive polycarbonate glazing market saw a surge in sales.
- Increased demand for fuel-efficient vehicles in the European region and stringent government regulations about vehicle safety are driving the demand for automotive polycarbonate glazing.
- Luxury vehicle sales are strong and glazing coatings are advancing rapidly, which has supported regional market growth prospects in the European region.
- As polycarbonate glazing becomes more popular in the Indian automotive industry, the Asia Pacific market is expected to expand rapidly in the coming decades.
Global Automotive Polycarbonate Glazing Market: Key Players
- Research into the automotive polycarbonate glazing market has identified key players, some of which stand to gain market share by adopting newer services, and some of which have the potential for accelerated growth.
- Consequently, the market is fragmented, with many service providers controlling a large percentage of the market. Key players adopt strategies such as expanding product portfolios and merging and acquiring.
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Leading players in the automotive polycarbonate glazing market across the globe are SABIC, Saint-Gobain, Covestro AG, Corning Incorporated, Fuyao Group, AGC Inc., Nippon Sheet Glass Co.Ltd, TEIJIN LIMITED, freeglass GmbH & Co.KG., dott.gallina s.r.l., Webasto, Peerless Plastics and Coatings, KRD Sicherheitstechnik gmbH and Flexigard.
- In August 2022, Mitsui Chemicals, Inc. and Teijin Ltd. announced a partnership to develop and market biomass-derived bisphenol A (BPA) and polycarbonate (PC) resins to produce carbon-neutral products by reducing greenhouse gas emissions.
- There will be many commercial applications in the future that will be potential users for these new biomass-derived versions, such as automotive headlamps and electronic components for smartphones.
- In March 2022, Covestro introduced two new polycarbonate compounding production lines to expand its Indian polycarbonate compounding business. Compounded plastics are in high demand, especially from the automotive and electrical, and electronic industries, which is why the new plants are being constructed.
Global Automotive Polycarbonate Glazing Market: Segmentation
Technology
- Sun Control Glazing
- Hydrophobic Glazing
- Switchable Glazing
- Conventional
Application
- Front Windshield
- Backlite
- Sidelite
- Quarter Glass
- Panoramic roof/Roof modules
Sales Channel
- OEM
- Aftermarket
Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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