Automotive glass is a treated glass that provides protection & safety to the passengers. Its prime aim is better visibility and protection from outside weather such as rain, fog, and sunlight. It includes different components for instance side & rear windows, windscreen, and roof of the vehicle with a glass panel. It acts as a barrier from external noise and provides better aerodynamics.
Based on glass type, automobile glass market is segmented into tempered glass, laminated glass and others. Tempered glass segment dominates the market owing to easy manufacturing process, low cost, and high demand in side-lites (side-window) and back-lite (back-window) of passenger, as well as commercial vehicles. Laminated glass segment is estimated to exhibit lucrative growth rate due to rise in demand for value-added features in automotive vehicles during the forecast period. Based on technology, market is segmented into active smart glass and passive glass. Active smart glass includes Electrochromic (EC) Glass, Suspended Particle Device (SPD) Glass and Liquid Crystal (LC) or Polymer Dispersed Liquid Crystal (PDLC) Glass. Passive glass includes thermochromic glass and photochromic glass. Based on vehicle type, market is segmented into passenger car, truck, Light Commercial Vehicle (LCV), bus and others. Based on material type, market is segmented into IR (infrared) PVB (Polyvinyl butyral), tinted glass, metal coated glass and others. In addition, based on application, market is segmented into windshield, rear quarter glass, sidelite/backlite, rear-view mirror and side-view mirror. Windshield segment is anticipated to witness higher growth rate as a result of growth in technologies like self-cleaning and self-healing glass for windshields during the forecast period.
The automobile glass market is driven by rise in demand for passenger vehicles, followed by growth in urban population, increase in applications of glass & penetration of smart glass, rise in per capita disposable income of the middle-class population and increase in environment concerns. However, polycarbonate glazing as an alternative to glass and high initial capital cost required for setting up automotive glass plant may impact the market. Moreover, rise in adoption in container handling equipment to open doors for technology supplier and increase in stringency in emission regulations are key opportunities for market.
Based on geography, the Asian-Pacific region holds major share in automobile glass market owing to growth in demand and increase in preference for a sunroof in the vehicles, rise in population and increase in sales of luxury and passenger cars in the region. Whereas, the European region is expected to witness higher growth rate due to growth in electric vehicle production and presence of strong vehicle manufacturers over the forecast period. In upcoming years, it is predicted that future of the market will be bright as a result of rise in demand for automobiles and presence of well-established automotive players during the forecast period.
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