Automotive Glass

Automotive Glass Market - Size, Share, Outlook,
and Opportunity Analysis, 2018-2026
Automotive glasses are aesthetics glass of a vehicle that protects passenger from
harsh exterior environment such as rain, sun, and wind. Automotive glasses are
designed in such a way that it contributes minimal weight to the vehicle, withstand
high external forces, and minimize the strain induced on the vehicle. Hence, all these
features increase comfort and aid in protecting passenger from external
environmental factors such as dust and wind.
Request For Sample Copy of this Research Report :
https://www.coherentmarketinsights.com/insight/request-sample/1817
Rising demand for vehicles is one of the major factors driving growth of the
market
Major factors driving growth of the automotive glass market is increasing demand for
vehicles, globally. For instance, according to International Organization of Motor
Vehicle Manufacturers statistics (OICA), the total number of vehicles sold in 2016
were 94 million units and it increased to 96 million units in 2017, globally. Hence,
increasing demand for vehicles is driving OEMs to manufacture more vehicles to
meet consumer demand, which will proportionately increase demand for automotive
glass. For instance, according to the OICA, the total number of vehicles produced in
2016 was 95 million units and it has grown up to 97million units, globally. Moreover,
increasing per capita income of individuals has proportionally increased the sales of
vehicles, which is further boosting growth of the automotive glass market. For
instance, according to the World Bank Group, GDP per capita has increased globally
from US$ 9,509.4 in 2010 to US$ 10,150.8 in 2016. This is an indicator of increasing
standard living, which in turn has aided in high sales of vehicles. Therefore, strong
and consistent sales growth of in the automotive industry, is further expected to fuel
the market growth during the forecast period (2018–2026).
Global Automotive Glass Market: Key Trend
One of the latest trend gaining attraction in the market is the exponential rise in
adoption of solar control glasses for vehicles. Major benefits associated with use of
solar control glasses is that it helps in improving fuel efficiency. The usage of solar
control glass helps in keeping the vehicle cooler on the inside, which reduces the
need for air conditioner, which in turns makes the car fuel efficient. For instance, in
2014, SEKISUI S-LEC, LLC introduced S-LEC Solar Control Films. This glass help in
reducing the transmission of heat (mid-infrared) rays from the sun, effectively
controlling the in-car temperature, while reducing demand on air conditioning and
increasing the fuel economy by 3%. Additionally, another benefit of solar control
glass is that it reduces the effect of ultraviolet radiation. This solar glass controls up
to 99% of solar radiation, which is similar to the benefit associated with SPF 50+
sunscreen. This rise in the adoption of these glasses will, in turn, augment growth in
the global automotive glass market in the near future.
Fluctuating prices of raw materials is one of the major challenges for growth of
the automotive glass market
Fluctuation in the prices of glass raw material is one of the factors affecting demand
for glasses in the automotive sector. As the changes in the pricing of material directly
affects the expense of the automakers, which proportionally affects the profit margins
of the automakers. For instance, in May 2018, according to a press release of
Producer Price Index (PPI), the PPI for specialty glass, which includes auto glass,
witnessed a rise by 1.4 % year-over-year basis in terms of price.
Global Automotive Glass Market: Segment Trends
Among vehicle types, passenger vehicles segment is the fastest growing segment,
owing to increasing sales of these vehicles worldwide. According to International
Organization of Motor Vehicle Manufacturers, in 2016, around 70 million units of
passenger car were sold worldwide. Growing passenger cars per thousand
inhabitants over the past few years have reached to 182 per thousand inhabitants in
2015 from 178 in 2014, which is major factor fuelling the growth of passenger cars.
Hence, the increasing sales of passenger vehicles will inadvertently increase the
demand of automotive glass for this segment.
Global Automotive Glass Market: Regional Insights
Asia Pacific held a dominant position in the global automotive glass market in 2017
and expected to retain its dominance during the forecasted period (2018–2026). This
growth is attributed to presence of emerging economies in this region such as India,
China, and Japan positioned as the growth engines in the automotive sector.
According to Organisation Internationale des Constructeurs d'Automobiles (OICA) in
2016, 39.4 million units of passenger cars were sold in this region, up from 36.1
million units in 2015. It also stated that in 2016, China held 61.8% share of the total
Asia Pacific passenger cars sales and 35.1% of the global passenger cars sales.
Hence, China was the largest market in the region in 2016. Thus, growing sales of
passenger vehicles will inadvertently increase demand for automotive glass for
passenger vehicles. Hence, this factor will help in boosting growth of the automotive
glass in this particular region.
Global Automotive Glass Market: Competitive Landscape
Key players operating in the global automotive glass market are Fuyao Group
Automobile Glass Co., Ltd., Asahi Glass Company Ltd, Saint Gobain S.A., Nippon
Sheet Glass Co., Ltd., Magna International, Inc., Xinyi Glass Holdings Ltd, and
Gentex Corporation.
The players in the market are focusing on acquisitions and expansion of
manufacturing capability, in order to remain competitive in the market. For example,
in April 2015, Asahi Glass Company Ltd. acquired the Nordglass Group, which is
known for producing windshields for the automotive industry. This acquisition helped
the Asahi Glass Company Ltd. to strengthen its market position in the automotive
glass business.
For More Information:
https://tinyurl.com/y8uo4h8g
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering
action-ready syndicated research reports, custom market analysis, consulting
services, and competitive analysis through various recommendations related to
emerging market trends, technologies, and potential absolute dollar opportunity.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: [email protected]

The research report on Global Automotive Glass Market is segmented By Glass Type, Technology, Applications, Vehicle Type, Region - Size, Share, Outlook, and Opportunity Analysis, 2018-2026

Download Report