Market Introduction
Automotive glass is a special type of glass, designed with a safety viewpoint. According to market database, Advance glass manufacturing techniques are trying to decreases the cost of production and maintain quality, further innovations are fueling customer expectations and giving the marker a steady growth.
In the early 20th century, glass was used on horseless carriages to protect against winds. The quality of glass was not got good and the dangers from the broken glass were prominent. Though the theory for laminated glass was formalized back in 1903, two decades have been practiced for laminated glass to be formally inducted into an automobile.
Firms are investing heavily in the research and development of this sector. One prominent French manufacture has invested so heavily, that 1 in 4 products in his portfolio didn’t exist 5 years ago.
Classification and Analysis
On basis of the manufacturing technique, the Global automotive glass market is divided into laminated and tempered. The laminated glass prevents miniature fraction formation in the glass during accidents and other adverse events, they are also used in sunroofs, major auto players use laminated glass. They are costly as compared to tempered glass. Tempered glass is cost-effective, higher strength, and robust. According to Global market database, Windscreen carries significant aspects in the vehicle, both glass, and automotive manufactures are engaged in developing newer technologies for enhanced features and appearance, like a new variety of windshields with self-cleaning glass.
For many years industry has preferred tempered glass for sidelight, increased safety concerns are a primary reason for the industry to shift for laminated glass use in windows, which prevents severe injuries during accidents involving heavy impact. According to market research tools, Sunroofs are the new thing in the auto industry with demand from customers. Firms are trying to incorporate sunroofs into their offerings.
Passenger cars account for more than 60% automotive glass industry market share. The commercial vehicle segment follows closely. Developed and developing nations increasing in passenger car ownership.
An increase in purchasing power has resulted in a boom for passenger cars. Passenger car use glass in the windshield, backlight, sidelight, and side and rear-view. To enhance the aesthetic feature of the vehicle, the passenger car is used for providing protection.
Market intelligence platforms foretell the increased importance to aesthetics and style by customer viewpoint has to lead to significant demand rise in the market. This is propelling firms to invest heavily in research and development.
Market Factors for Global Automotive Glass Market
The primary driver for the global automotive glass industry is a rising demand in the Asia-Pacific region. The demand can be matched with a high production rate. Also, the demand for sunscreen is growing, due to growing customer interest in SUV and premium car segment. This corresponds to growth in the glass market.
According to Global market database, The market is heavily dependent on raw materials, energy requirements, and a distribution network. Any factors that affect these will affect the supply side of the glass market. The Global market database show Covid-19 induced restrictions have disrupted the supply side. As the automobile industry slows down, so does the glass market.
Market overview for Automotive Glass Industry
According to Global market database, the global automotive glass industry is consolidated, top players account for about 75% of the market share. Mergers, acquisitions, and joint ventures with regional manufacturers are the nature of market dynamics. Leading manufacturers are engaged in research & development and implementation of new strategies for increasing their market share like strengthening product portfolio, mergers, capacity expansion, and acquisitions across different stages of the value chain. It is one of the strategies adopted by key players to maintain a competitive advantage over other manufacturers.
North American Market Prospective
According to the Global market database, North America is expected to have a stable growth rate due to the increase in the passenger car segment. Market intelligence platforms predict SUV and premium segment which uses sunscreen as a significant demand booster. The region being a well-established auto market is further fueling the demand.
