Selbyville, Delaware, May 13, 2021 (GLOBE NEWSWIRE) --
Global Market Insights Inc. has recently added a new report on the automotive glass market which estimates the market valuation for automotive glass will cross US$ 11 billion by 2027. Growing electric vehicle sales to propel the demand for automotive glass.
The growing middle-class population in many emerging economies is driving the demand for automotive, thereby supporting the industry expansion. Moreover, the rapidly growing global production and sales of electric vehicles are propelling the automotive glass market. Industry participants are banking on the technological advancements of automotive glass, which is no longer used for only providing structural strength to the automotive but also to increase the aesthetic appeal.
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Laminated glass will witness around 5.9% CAGR in the automotive glass market. Easy reparability, compatibility with Polyvinyl Butyral (PVB) coating for better glass bonding, clear visibility, and soundproofing are key factors that will enhance product demand. For manufacturing laminated glass, two coats of glass are sandwiched with a laminate. The probabilities of injuries and damages are minimalized as the glass tends to be in a frame.
The windscreen segment will witness over 5.8% CAGR and these can be made using laminated and tempered glass. However, laminated glass-based windshields are costlier compared to their counterparts. Innovative technologies are being launched in the market to enhance the driving experience.
The OEM segment held over 82% market share in 2020. OEMs in the automotive glass marketplace include international glass manufacturers, such as ASAHI Glass Limited, who directly deal with car manufacturers and have long-term supply contracts or tie-ups for the supply of glass. An increase in the production of new vehicles is a driving factor for automotive glass OEMs. Most of the OEMs also supply their products to the replacement market.
The heavy vehicle segment will witness around 5.4% CAGR in the automotive glass market through 2027. Urbanization has led to an increase in the construction of buildings, roads, and highways, which leads to the need for heavy commercial vehicles. In addition, an increase in the number of accidents on highways has led to the replacement automotive glass industry expansion.
North America automotive glass market is predicted to hold around 16% share. Rising automotive glass demand from OEMs is a key factor influencing the lightweight vehicle demand. Stringent regulations on the safety of glass are expected to drive the industry demand. Industry participants comply with the regulations laid by the Federal Motor Vehicle Safety Standards (FMVSS), which include measures for passenger safety, strength, crash resistance, and penetration through windshields.
Some major findings of the automotive glass market report include:
- Rising automotive sales in many emerging economies is driving the revenue generation
- Tempered automotive glass is known as toughened glass, which is created by heating and then rapidly cooling pre-cut pieces of glass in a tempering furnace. Tempered glass is highly durable and highly resistant to harsh environments.
- The key industry players are Saint-Gobain, Asahi Glass, Shatterprufe Windscreens, LKQ Corporation, Independent Glass, China Glass Holding Ltd., Euroglas GmbH. Central Glass America, Inc, Nippon Sheet Glass Co., Ltd., Vitro, Xinyi Glass Holdings, Corning, Inc., Guardian Glass, Gentex Corporation, Webasto, Magna International Inc. and Fuyao Group.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Automotive glass industry 3600 synopsis, 2017 - 2027
2.1.1 Business trends
2.1.2 Product trends
2.1.3 Application trends
2.1.4 End-use trends
2.1.5 Vehicle trends
2.1.6 Regional trends
Chapter 3 Automotive Glass Industry Insights
3.1 Industry segmentation
3.2 COVID-19 impact on industry landscape
3.3 Industry ecosystem analysis
3.3.1 Raw material suppliers
3.3.2 Manufacturers
3.3.3 Profit margin analysis
3.3.4 End-use analysis
3.3.4.1 OEM
3.3.4.2 Aftermarket
3.3.4.3 E-commerce
3.3.5 Value chain disruption due to COVID-19
3.3.6 Vendor matrix
3.4 Technology landscape
3.4.1 Float glass technology
3.4.2 Computerized process control
3.4.3 Vertically fired furnaces
3.4.4 Acoustic windshield for cars
3.4.5 Water repellent glass for side windows
3.5 Automotive production, by region
3.5.1 North America
3.5.2 Europe
3.5.3 APAC
3.5.4 LATAM
3.5.5 MEA
3.6 Pricing analysis (including COVID-19 impact)
3.6.1 Regional pricing
3.6.1.1 North America
3.6.1.2 Europe
3.6.1.3 APAC
3.6.1.4 LATAM
3.6.1.5 MEA
3.7 COVID-19 impact on automotive industry
3.8 Regulatory landscape
3.9 Industry impact forces
3.9.1 Growth drivers
3.9.1.1 Technological advancement in automotive industry for enhanced safety
3.9.1.2 Increasing automotive production
3.9.1.3 Refurbished vehicles industry growth
3.9.2 Industry pitfalls & challenges
3.9.2.1 Fluctuating prices and raw material demand & supply gap
3.9.2.2 Intensive capital investment and product certification
3.10 Innovation and sustainability
3.10.1 Smart glass technology
3.10.2 Gorilla glass technology
3.11 Growth potential analysis
3.12 Porter's analysis
3.12.1 Buyer power
3.12.2 Supplier power
3.12.3 Industry rivalry
3.12.4 Threat of substitutes
3.12.5 Threat of new entrants
3.13 Competitive landscape, 2020
3.13.1 Company market share, 2020
3.13.2 Key stake holders
3.13.3 Strategy dashboard
3.14 PESTEL analysis
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.