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The global automotive glass market size was USD 16.53 billion in 2018 and is projected to reach USD 27.75 billion by 2026, exhibiting a CAGR of 6.9% during the forecast period.
Rapid growth in the transportation and logistics sector has fueled the production of heavy-duty vehicles. Increasing disposable income and rising population across the globe has also boosted the manufacturing and sales of automobiles. These factors are driving the growth of the automotive glass market. Technological advancements in automotive glass are enabling cost and weight reductions while improving driver comfort and safety.
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Also, safety standards implemented by various governments concerning occupant crash protection are fueling the advancement in automotive glass. For example , the Federal Motor Vehicle Safety Standard 205, introduced by the US government, addresses precise standards for auto glass transparency and strength. Additionally, they also introduced Standard 212, which includes standards for the amount of force/damage a windshield could withstand during an accident.
Increased Adoption of Sunroof and Growing Focus on Safety to Drive the Market for Automotive Glass
Focus on improving the application of sunroof in mainstream vehicles and use of features such as head-up displays to improve driver alertness has led to increased investment in technological upgradation of automotive glass. Set standards for windshield retention and roof crush during the rollover to enhance the safety features of cars is driving automotive glass market trends. All these factors support and complement each other, owing to which the market is witnessing substantial growth.
The Increasing Application of Glass in Automobiles and Environmental Benefits to Boost the Market
Aerodynamic styling results in a more pronounced installation angle of windshields and back windows, thus making them longer. The added surface area increases the importance of the look of glass on the vehicles resulting in increasing preference for sunroofs and moonroofs. Reflective coatings decrease the air conditioning load, thus saving gas and reducing air pollution. Therefore environmental benefits of advancement in automotive glass are expected to have a positive impact on the market.
Growing Demand for Electric & Hybrid Vehicles to Drive Market Growth
Emphasis on emission control and stringent environmental regulations are advancing the production of hybrid and electric vehicles, boosting growth of the market. Consumers and manufacturers are likely to seek more eco-friendly cars to comply with government norms, giving a push to hybrid & electric vehicles, which is driving the demand for automotive glass .
Stringent Safety Norms Imposed by Government to Drive Market Growth
The stabilization of prices of materials such as soda ash, lime, oxides of magnesium, potassium, and aluminum, and skyrocketing fuel prices has boosted the growth of cost-effective glass for cars. Rising demand for vehicles in the transportation and logistics sector, coupled with a focus on improving vehicle aerodynamics owing to safety regulations, is driving the growth of the market. Furthermore, the increase in the sale of crossovers and SUVs and rising disposable income, particularly in developing nations , are driving the market.
High Cost and Intensive Capital Investment to Restrain the Growth of the Market
The cost of laminated glass is substantially higher compared to tempered glass and the use of this technology is considerably restrained by low adoption in developing countries . Also, high capital cost is required for R&D and production of thin laminated glass for side windows. This investment , coupled with an emphasis on reducing production costs and cost burden on consumers, is anticipated to restrain the growth of the automotive glass industry.
By Glass Type Analysis
Laminated Glass Segment to Experience Significant Growth
Based on type, the automotive glass is segmented into laminated glass and tempered glass. The laminated glass segment is anticipated to dominate the automotive glass market over the forecast period. Some European OEMs such as Mercedes and BMW have standardized side glazing in their top-selling models. Laminated side glazing provides enhanced safety to occupants in case of vehicle rollover in an accident, which is projected to drive the growth of automotive glass industry. The tempered glass segment is estimated to show steady growth in the market. The more straightforward manufacturing process and low cost coupled with high demand for sidelite and backlite are projected to drive the growth in this segment.
Sunroof Segment to Dominate the Growth During the Forecast Period
By application, the market is segmented into windshield, sidelite, backlite, and sunroof. The sunroof segment is anticipated to dominate the market over the forecast period. Sunroof offers more control over the entry of natural light into the car. Increasing investments by new market entrants and the demand for energy-efficient products is likely to drive market growth in this segment. The windshield segment is estimated to show significant growth in the market owing to technological advancements such as embedded sensors and smart materials, augmented displays, self-cleaning glass, etc. The sidelite segment is projected to show good growth in the market owing to the increasing number of road accidents, which will accelerate the demand for improved quality of side glass. Backlite segment is also expected to show steady growth in this market.
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Passenger Car Segment is Likely to Experience Significant Growth During the Forecast Period
Based on vehicle type, the market is segmented into passenger cars, light commercial vehicles, heavy commercial vehicles, and electric vehicles (EV). The passenger car segment is anticipated to dominate the market over the forecast period. The increasing sales of passenger cars in China and India are likely to drive the growth in this segment. The LCV segment is estimated to show steady growth in the market owing to the rising popularity of crossover SUVs and high demand for intra-city trucks and buses. The HCV segment is projected to show significant growth in the market owing to the need for lightweight and safety-oriented long haul transport vehicles. The EV segment is also expected to show considerable growth in this market owing to the early adoption of technologies such as head-up displays and smart glass for panoramic sunroof.
Asia Pacific Automotive Glass Market Size, 2015-2026 (USD Billion)
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By region, the market has been segmented into Europe, North America, Asia-Pacific, and the Rest of the World. Asia-Pacific is expected to dominate the automotive glass market share over the forecast period. China and India are key driver countries for the growth of the market in this region. Improving economic conditions and high population growth has resulted in increased vehicle production. This factor has led to increased demand for automotive glass, and consumer preference for SUVs in China and India, which require more volume of glass compared to other vehicles, is likely to drive the market growth in this region. Europe holds the second-largest share in the market and is also estimated to show significant growth in the market over the forecast period. Strict vehicular safety regulations, the presence of leading innovators such as Saint-Gobain Sekurit, and the increasing share of electric vehicles are factors driving the market growth in this region. North America is projected to show steady growth in the automotive glass market over the forecast period. Early adoption of advanced glass glazing techniques by numerous companies, including Magna International and Guardian Glass, among others, is expected to have a positive impact on market growth in this region.
Saint-Gobain to Remain Dominant Player in the Market
Saint-Gobain is the leading player in the automotive glass market. Through Saint-Gobain Sekurit, the group equips the world's leading automakers with glass roofs, backlites, windshields, sidelites, and pre-assembled modules. Saint-Gobain Sekurit glazing enables reduced vehicle energy consumption and provides innovative solutions to user demands for safety and comfort. Saint Gobain, through its Autover subsidiary, is also growing its business in the distribution of automobile glazing on the independent aftermarket. However, Magna International Inc. and Asahi Glass, among others, have provided intense competition via expansion strategies, partnerships, and new product development, which has led to an increased focus on research and development of automotive glass.
An Infographic Representation of Automotive Glass Market
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The automotive glass market report provides a detailed analysis of the market and focuses on key aspects such as leading companies, Types, and leading applications of the product. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that have contributed to the growth of the market over recent years.
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Value (USD billion) & Volume (Thousand Units)
By Glass Type
By Vehicle Type
Fortune Business Insights says that the market was worth USD 16.53 billion in 2018.
The market is projected to be worth USD 27.75 billion in 2026.
The market will grow at a CAGR of 6.9% in the forecast period (2019-2026).
The Asia Pacific market size was at USD 8.62 billion in 2018.
In terms of vehicle type, the passenger car segment will dominate the market share during the forecast period.
Some of the driving factors for the automotive glass market are the rising demand for electric vehicles and increased investment in thin laminated side glazing technology. However, the initial capital investment may restrain market growth.
Saint Gobain Sekurit, Magna International, Guardian Glass, Nippon Sheet Glass Co. Ltd, and AGC Inc., are among the top companies in the global automotive glass market.
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