Global Market Research Reports : Ken Research: Global Automotive Glass Market

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Tuesday, March 14, 2023

Global Automotive Glass Market expected to record a CAGR of ~6% during the forecast period (2017-2028): Ken Research

What Is The Size Of Global Automotive Glass Industry?

Global Automotive Glass market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F.

The Automotive Glass Market is largely driven by the increasing demand for electric, hybrid, and luxury vehicles.

The automotive industry is surging worldwide as manufacturers are continuously upgrading vehicles as per customer demand, and governments’ active involvement to speed up the production of automobiles. Growing demand for smart glass is also one of the key factors driving this market. Smart glass such as HUD can display the fuel level, speed, temperature, and other warnings.

Furthermore, high initial cost to set up a glass manufacturing plant, along with further repair and maintenance costs, is a restraining factor for the automotive glass market. Major players operating in this segment such as Fuyao Glass, Saint-Gobain, and others, preferred to expand their existing plant rather than invest in a newer facility. These strategies restrict players to expand their geographical presence.

COVID-19 has decelerated the growth of the automotive glass market. This is because of the temporary shutdown of assembly lines, disruption of the supply chain, restriction on manufacturing. But as the market is recovering and restrictions are easing down, it is estimated that the automotive glass market will recover within the forecasted period.

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Global Automotive Glass Market By Glass Type

The Global Automotive Glass market is segmented by Glass Type into Laminated Glass and Tempered Glass.

Tempered glass segment held the largest market share of the Global Automotive Glass Market in 2022, owing to the lower cost and better durability than other glasses.

Tempered glass is a type of glass manufactured through heat or chemicals to provide safety. In the event the glass breaks, it does not shatter into big pieces but rather into thousand pieces that do not have a sharp edge.

Tempered glass is most commonly used because of its lower cost than laminated glass. It is used in the backlite, windshield, and sideline door.

Global Automotive Glass market By Vehicle Type

The Global Automotive Glass Market is segmented by Vehicle type into Passenger Car, Light Commercial, Heavy Commercial and Electric Vehicles.

The passenger car segment accounted for the largest market share in 2022, due to a shift in the trend of consumer behavior and the growing middle-class population.

Passenger cars refer to vehicles designed and constructed for carrying individuals. Comprising of not more than eight seats inclusive of the driver’s seat, and having a maximum mass not exceeding 3.5 tones. There are various kinds of passenger cars including sports, luxury, family-oriented, small cars, and sports utility vehicles (SUVs). Growing environmental concerns led to low-emission and lightweight vehicles on the road, which is also a driving factor for the passenger car segment.

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Key Topics Covered in the Report

Snapshot of the Global Automotive Glass Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Automotive Glass Market
Historic Growth of the Overall Global Automotive Glass Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter’s 5 Forces Analysis of the Global Automotive Glass Industry
Overview, Product Offerings, and Strengths & Weaknesses of Key Competitors
COVID-19 Impact on the Overall Global Automotive Glass Market
Future Market Forecast and Growth Rates of the Total Global Automotive Glass Market and by Segments
Market Size of Vehicle Type/Application Segments with Historical CAGR and Future Forecasts
Analysis of the Global Automotive Glass Market
Major Production/Supply and Consumption/Demand Hubs in Each Major Region
Major Continent-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Major Continent

Major Players Mentioned in the Report

FUYAO Glass Industries Co., Ltd.
Nippon Sheet Glass Co., Ltd
Saint-Gobain
Xinyi Glass Holdings Limited
AGC Inc.
Central Glass Co., Ltd.
Corning Incorporated
Guardian Industries Holdings
Sisecam
Webasto Group

Notable Emerging Companies Mentioned in the Report

Magnum Tuff India Private Limited
Glavista
Speedy Autoglass
Mobss Windshield Pvt. Ltd.
Vehicle Glass Company Ltd.

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

Automotive Glass Manufacturing Companies
Soda Ash Suppliers
Silica and Sand Suppliers
Government & Regulatory Authorities
Automotive Research Institutes
Investors in Automotive Industry
Smart Glass Manufacturers
Automotive OEMs
Start-ups & Incumbents in Automotive Electronics
Automotive Testing & Inspection Companies
Company Research and Development Institutes
Market Research & Consulting Firms
Banking and Financial Service Providers
Investment Banks Targeting Automotive Component Industry

Time Period Captured in the Report

Historical Period: 2017-2021
Forecast Period: 2022-2028F

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Global Automotive Glass Market: Ken Research

Monday, December 19, 2022

Global Automotive Glass Market Size, Segments, Outlook, and Revenue Forecast 2022-2028: Ken Research

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The Global Automotive Glass Market – which grew from approximately US$ 15 billion in 2017 to approximately US$ 20 billion in 2022 – is forecasted to grow further into approximately US$ 30 billion opportunity by 2028, owing to the increasing demand for electric, hybrid, and luxury vehicles.

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Key Growth Drivers

The automotive industry is surging worldwide as manufacturers are continuously upgrading vehicles as per customer demand, and governments’ active involvement to speed up the production of automobiles. Growing demand for smart glass is also one of the key factors driving this market. Smart glass such as HUD can display the fuel level, speed, temperature, and other warnings. According to the Indian Brand Equity Foundation (IBEF), a semi-government trust formulated by the department of commerce mentioned that India’s passenger car market was valued at US$ 32.70 billion in 2021, and it is expected to reach a value of US$ 54.84 billion by 2027. The increasing production of vehicles is likely to boost the demand for the automotive glass market.
High initial cost to set up a glass manufacturing plant, along with further repair and maintenance costs, is a restraining factor for the automotive glass market. Major players operating in this segment such as Fuyao Glass, Saint-Gobain, and others, preferred to expand their existing plant rather than invest in a newer facility. These strategies restrict players to expand their geographical presence.
COVID-19 has decelerated the growth of the automotive glass market. This is because of the temporary shutdown of assembly lines, disruption of the supply chain, restriction on manufacturing and construction activities, and decline in the sale of automobiles. But as the market is recovering and restrictions are easing down, it is estimated that the automotive glass market will recover within the forecasted period.

Key Trends by Market Segment:

By Glass Type: Tempered glass segment held the largest market share of the Global Automotive Glass Market in 2021, owing to the lower cost and better durability than other glasses.

Tempered glass is a type of glass manufactured through heat or chemicals to provide safety. In the event the glass breaks, it does not shatter into big pieces but rather into thousand pieces that do not have a sharp edge.
Tempered glass is most commonly used because of its lower cost than laminated glass. It is used in the backlite, windshield, and sideline door.

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By Vehicle Type: The passenger car segment accounted for the largest market share in 2021, due to a shift in the trend of consumer behavior and the growing middle-class population.

Passenger cars refer to vehicles designed and constructed for carrying individuals. Comprising of not more than eight seats inclusive of the driver’s seat, and having a maximum mass not exceeding 3.5 tonnes. There are various kinds of passenger cars including sports, luxury, family-oriented, small cars, and sports utility vehicles (SUVs). Growing environmental concerns led to low-emission and lightweight vehicles on the road, which is also a driving factor for the passenger car segment.

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By Application: The windscreen segment held the largest market in 2021, owing to the importance of windscreens in a vehicle structure along with safety concerns.

Windscreen of a vehicle is the glass window at the front that the driver looks at. The windscreen provides clear vision and acts as a protective shield. The windshield protects all passengers from any external injuries such as accidents or any mishap. Growing demand for smart windscreens is also boosting the growth of this segment.

By End-Use: The OEM segment held the largest market in 2021, because, the majority of the auto glasses are utilized in the production of vehicles.

OEM generally supplies manufactured products to cater to the demand from the end product manufacturer. OEM products are generally used as a component in the final product of another company.

By Geography: The Asia Pacific accounted for the largest market share within the Global Automotive Glass Market in 2021, owing to rising investment in the auto industry, and growing demand for passenger cars.

Toyota, Volkswagen, Honda, Geely, and other major automobile manufacturers are continuously improving as per the demand from customers, and shifting customer preferences toward luxury vehicles in China is also fueling the demand in this market.
According to the International Trade Association (ITA), a USA agency that promotes trade and investment, China continues to be the world’s largest vehicle market by both annual sales and manufacturing output, with domestic production expected to reach 35 million vehicles by 2025.

Competitive Landscape:

The global automotive glass market is significantly competitive with ~100 players which include globally diversified players, and country-niche players as well as a majority number of regional players having their niche in automotive glass manufacturing for OEMs and aftermarket sales.

Regional players constitute ~45% of competitors while large global players constitute ~20%. Some of the major players in the market include FUYAO Glass Industries Co., Ltd., Nippon Sheet Glass Co., Ltd, Saint-Gobain, Xinyi Glass Holdings Limited, AGC Inc., Central Glass Co., Ltd., Corning Incorporated, Guardian Industries Holdings, Sisecam, Webasto Group, and others.

Recent Developments Related to Major Players

In October 2021, Guardian Glass invested in its Goole, East Yorkshire float glass production plant to increase the company’s ability to supply float glass, primarily to the UK and Ireland.
In August 2021, Webasto announced the acquisition of Carlex Glass Luxembourg SA. Carlex deals in the manufacturing of glass elements for passenger cars and counts many international carmakers among its customers.
In June 2021, Corning Inc and Jeep (automobile manufacturer), announced the launch of a windshield for the Jeep Wrangler and Jeep Gladiator with Corning Gorilla Glass.

Conclusion

The Global Automotive Glass Market witnessed significant growth during the period 2017-2021, owing to the growing automotive industry and shifting trend towards smart glass. The growth rate is also expected to remain significant during the forecast period. Though the market is significantly competitive with ~100 participants, the majority of global players dominate the market revenue share, and regional players hold a significant share.

Note: This is a Planned/On-Demand report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for pre-booking clients, and the report delivered within a maximum of two working weeks.

Ken Research has recently published report titled, Global Automotive Glass Market Size, Segments, Outlook, and Revenue Forecast 2022-2028. In addition, the report also covers market size and forecasts for the four regions in the Automotive Glass Market. The revenue used to size and forecast the market for each segment is US$ billion.

Market Taxonomy

By Glass Type	Laminated Glass Tempered Glass
By Vehicle Type	Passenger Car Light Commercial Heavy Commercial Electric Vehicles
By Application	Windscreen Backlite Sidelite Sunroof
By End-Use	Original Equipment Manufacturer Aftermarket
By Geography	North America (USA, Canada, Mexico) Europe (Germany, UK, France, Spain, Italy) Asia Pacific (China, Japan, South Korea, India, Australia) LAMEA (Latin America, Middle East, Africa)
Key Players	FUYAO Glass Industries Co., Ltd. Nippon Sheet Glass Co., Ltd Saint-Gobain Xinyi Glass Holdings Limited AGC Inc. Central Glass Co., Ltd. Corning Incorporated Guardian Industries Holdings Sisecam Webasto Group

Thursday, November 3, 2022

3 Key Insights on the US$ 30 Billion Opportunity in the Global Automotive Glass Market: Ken Research

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Driven by the increasing demand for passenger cars, and the rising automotive industry. The Global Automotive Glass Market is forecasted at approximately US$ 30 Bn by 2028 says Ken Research Study

Automobile glass is commonly referred to as laminated glass or tampered glass. Laminated glass is manufactured by fusing a thin layer of polyvinyl butyral with two solid glass layers. Tempered glass is made by heating glass and then rapidly cooling it to room temperature to increase its tensile and compressive strength. Tempered glass is most commonly used for car windows, sunroofs, backsides, and others.

“Ken Research shares 3 key insights on this high-opportunity market from its latest research study.”

1. Asia Pacific’s Budding Automotive Industry is a Driving Factor for Automotive Glass Market Growth.

According to Ken Research Analysis, the Global Automotive Glass Market was valued at US$ 15 billion in 2017, it is estimated to be ~US$ 20 billion in 2022 and is forecasted to reach a market size of ~US$ 30 billion opportunities by 2028, owing to Increasing demand for electric vehicles, hybrid vehicles, and luxury cars.

According to Invest India, the Indian automobile industry is expected to reach US$ 300 billion by 2026 from US$ 222 billion in 2022. In the automobile market in India, passenger cars accounted for 17.4% of the market share. Passenger car sales are dominated by small and midsized cars.

According to Japan External Trade Organization, domestic automobile production in 2019 was 9.68 million units and domestic automobile sales in the same year were 5.2 million units. The growing automotive industry is expected to directly propel the growth of the automotive glass market.

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2. Increasing Vehicle Production, and Rising Demand for Passenger Cars, are Fuelling the Growth in Automotive Glass Market.

COVID-19 halted vehicle production and sales worldwide, however, the current situation is getting better, the demand for passenger cars including SUVs, electric cars, light commercial vehicles, and midsize passenger cars, is increasing. The rising population and spending of people also lead to growth in the sale of passenger cars. Regular upgradation in vehicle structure and technology as per the demand from the customers is likely to boost the sale of vehicles.

The International Organization of Motor Vehicle Manufacturers (OICA), an organization working in the interest of vehicle manufacturers and assemblers stated that vehicle production increased by 3% from 2020 to 2021 after declining by 13% from 2019 to 2020. Increasing the production and sales number of vehicles directly helps the automotive glass market to grow.

3. Fluctuating Raw Material Price is Hampering the Growth of the Automotive Glass Market.

The higher raw material price of manufacturing glass is hampering the growth of the market. As per the Chemical and Engineering News (C&EN), soda lime glass is the most common material used in the manufacturing of glass, it accounts for roughly 90% of all manufactured glass including bottles, jars, building windows, and others. During the COVID-19, the prices of soda ash have declined significantly but as the demand surged and supply reduced due to the low production volume, the prices of these materials have soared to an all-time high, owing to the prices of automotive glass also fluctuating and restraining the growth of the market.