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Automotive Glass Market Size 2030 Industry Share, Trends, Growth, COVID-19 Impact Analysis, Opportunity Analysis and Industry Forecast, 2021–2030

Post Time:Oct 26,2021Classify:Industry NewsView:942

The global demand for automotive glass has declined significantly in 2020, with the Covid-19 pandemic restricting automotive production and reducing new orders in the manufacturing sector. However, long-term prospects remain bullish, with a new report by FMI projecting 4% CAGR through 2030. The report opines that market players will benefit from smart glass technology and the rising popularity of electric vehicles.


Automotive glass market

The report opines that volatility in raw material pricing and high capital requirements will hold back market developments.


The automotive glass industry has witnessed steady growth in recent years backed by the massive global automobile production sector, implementation of strict automotive safety standards, and improvements in material and auto tech. Further, businesses have invested in smart glass and wider windshield and sunroof designs for their offerings, catering to premium automobile consumer requirements.


While revenue from the automotive glass market rises steadily, the fragmented nature of the market limits the potential for revenues. Also, issues in terms of energy efficiency and raw material fluctuations are problems faced by key players.


Key Takeaways

The automotive glass market will reach US$ 16 billion, with demand receding in 2020

Door glass offerings remain in high demand, with the higher volume of glass required for these products and innovations in material strength and temperature control.

Applications of automotive glass in conventional passenger cars reflect higher growth than LCV, HCV and electric vehicle applications owing to higher demand and production, driven by higher disposable incomes globally.

East Asia is a key market for production and sales, supported by the prevalence of numerous regional and international automobile manufacturing plants in the region, supported by lower labour and material costs.

“The growth in production rate of electric and hybrid vehicles in addition to the integration of varied new technologies for visibility and safety are expected to positively influence the global demand for automotive glass throughout the forecast period till 2030,” said a lead analyst at Future Market Insights


Covid-19 Impact on Automotive Glass Market

The coronavirus pandemic is expected to have a negative effect on the short-term prospects of the automotive glass industry. Lockdown restrictions have limited the production of automobiles and associated materials across North America, Asia, and Europe, which are key markets for auto glass.


Also, the demand for new automobiles has fallen sharply, and the uncertainty over the severity and duration of the pandemic and the impact on the global economy are key factors that could hamper market prospects, and delaying the recovery of the industry in the long term. However, the automotive industry will gain traction following the end of the pandemic, with the anticipated growth in demand for electric and autonomous vehicles on a global scale.


Some of the leading players in the market include Dura Automotive Systems, Saint-Gobain S.A., Asahi Glass Co. Ltd., Fuyao Glass Industry Group Co. Ltd., Nippon Sheet Glass Co. Ltd., Xinyi Glass Holdings Ltd., Central Glass Co. Ltd., Glas Trosch Holding AG, Gentex Corporation, and Magna International Inc. among others.


Key Segment

Application

Windshield

Back Glass

Door Glass

Quarter Glass

Vent Glass

Moon/Sun Roof


Glass Type

Laminated Glass

Tempered Glass


Sales Channel

Original Equipment Manufacturer

Aftermarket


Vehicle Type

Passenger Vehicles

Compact

Mid-size

Luxury

SUV

Light Commercial Vehicles

Heavy Commercial Vehicles

Electric Vehicles

BEV(Battery Electric Vehicles)

HEV(Hybrid Electric Vehicles)

PHEV(Plug-In Hybrid Electric Vehicles)


Regional Outlook

North America (U.S., Canada)

Latin America (Brazil, Mexico, Rest of LATAM)

Europe (Germany, Italy, France, U.K., BENELUX, Spain, Russia, Rest of Europe)

South Asia & Pacific (India, Thailand, Indonesia, Malaysia, Australia, New Zealand, Rest of South Asia & Pacific)

East Asia (China, Japan, South Korea)

Middle East & Africa (Turkey, South Africa, Rest of MEA)

Source: https://marketresearchblog.org/Author: shangyi

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