According to the latest report by IMARC Group, titled “Automotive Glass Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global automotive glass market reached a value of US$ 14.41 Billion in 2020. Looking forward, IMARC Group expects the market to reach a value of US$ 19.46 Billion by 2026.
Automotive glass is a type of safety glass that is designed to protect the occupants as well as the structure of a vehicle. Widely available in two forms, namely tempered and laminated glass, it not only offers resistance against water, fog, dust and ultraviolet (UV) radiations but also efficiently keeps external noises at bay. Laminated glass uses a layer of polyvinyl butyral (PB) to endure extreme heat and is used for the manufacturing of windshields. Whereas tempered glass, which is used for the manufacturing of the vehicle’s side and back windows, is produced by a process called quenching, which aids in improving the strength of the glass and providing balanced internal stress capabilities.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Automotive Glass Market Trends:
The global market is primarily driven by a significant increase in the sales of automobiles. Rapid urbanization, inflating consumer spending capacity and improving living standards of the majority of the population across the globe, especially in the developing economies, have increased the uptake of vehicles. Along with this, the rising adoption of hybrid and electric vehicles (EVs), owing to the implementation of stringent environmental regulations, is bolstering the demand for automotive glass. The growing popularity of luxury cars among the urban population is also acting as another major growth-inducing factor.
Moreover, the rising demand for advanced variants with improved resistance and enhanced features such as glass sunroof is contributing to the market growth. For instance, the advent of smart automotive glass is significantly driving product demand. These variants tint the car windows at the touch of a button, which can improve the overall driving experience of the user. Extensive research and development (R&D) and increasing mergers and acquisitions (M&A) between the key industry players are expected to create a positive outlook for the market.
For instance, Corning Incorporated, an American multinational company (MNC) specializing in specialty glass, has collaborated with the South Korean electronics company, LG Electronics Vehicle Component Solutions, to introduce economic and high-quality interior curved dual-display modules.
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Global Automotive Glass Market 2021-2026 Analysis and Segmentation:
Competitive Landscape with Key Player:
Market Breakup by Glass Type:
Market Breakup by Material Type:
Market Breakup by Vehicle Type:
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Market Breakup by End-User:
Market Breakup by Technology:
Market Breakup by Region:
Key Highlights of the Report:
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