The larger issues of air pollution and carbon emission have had an indisputable impact on the automotive industry, as stakeholders continually work toward the development of better, lighter, and safer components for cars. The influence of this has led to manufacturers in the global automotive glazing market also taking steps to improve existing products and develop new ones that are aimed at reducing the weight of cars, thereby making them more fuel-efficient.
Seattle, WA -- (SBWIRE) -- 12/03/2019 -- The Automotive Glazing Market is estimated to be driven primarily by the usage of polycarbonate in headlights and the increasing production of sunroof and rear quarter glass-equipped premium vehicles such as sedans and SUVs. The increasing demand for complex glazing design and lightweight vehicles is also driving the growth of the automotive glazing market for polycarbonate.
As per WMR analysis, the average size of glazing for buses is highest than any other vehicle type. The average glazing area of the bus is 2 to 3 times more than passenger cars. This is because of the higher surface area of applications such as side lite and windscreen. Buses account for the smallest share of global vehicle production. However, the polycarbonate usage in buses for glazing is estimated to have a high impact on their fuel efficiency.
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The increasing urbanisation rate has increased the number of megacities resulting in the demand for cheap and faster travel. This why the production of buses is estimated to increase. Hence, the fuel efficiency impact coupled with increasing bus production is estimated to drive the automotive glazing market for buses at the highest CAGR.
Because of stringent emission norms, the sale of electric vehicles has increased tremendously in the last few years. As per Worldwide Market Reports analysis, this trend will drive the market for electric vehicles such as BEVs. BEVs are propelled by an electric motor and have high power rechargeable battery packs.
Weight reduction is the predominant criteria in BEVs. Therefore, polycarbonate glazing is expected to have a significant market share in BEVs. Additionally, a majority of BEVs fall under the premium vehicle category. So, safety and aesthetic features play an important role in these vehicles, which, in turn, are projected to drive the growth of SABIC, Covestro, Teijin, Webasto, Freeglass, Mitsubuishi, Trinseo, Chi Mei Corporation, KRD Sicherheitstechnik he BEV segment at the highest CAGR in the automotive glazing market for electric vehicles.
Asia Oceania is the largest automotive glazing market and is expected to retain its position during the forecast period. Asia Oceania has emerged as a hub for automotive production in recent years owing to the increasing population and urbanisation. According to OICA, Asia Oceania accounted for most of the global vehicle production in 2018 because of the presence of OEMs such as SAIC, Hyundai, Toyota, Suzuki, Tata, and Honda.
Manufacturers in this region are focused on developing specific solutions that address fuel efficiency mandates. As consumers in the region are showing an increased inclination toward convenience and safety, it has witnessed higher growth than the matured markets of Europe and North America.
The automotive glazing market is dominated by global players and comprises several regional players. The key players in the automotive glazing market are SABIC, Covestro, Teijin, Webasto, Freeglass, Mitsubuishi, Trinseo, Chi Mei Corporation, KRD Sicherheitstechnik, and Idemitsu.
Key questions addressed by the report
- Which type of glazing in on-highway vehicles is expected to dominate in the future?
- How are the industry players addressing the challenge of maintaining a balance between performance and cost of a polycarbonate glazing?
- When is the polycarbonate windscreen expected to get mass adoption in the automotive glazing market?
- What is the market size of the automotive glazing market, by polycarbonate, for off-highway vehicles?
- What are the key trends observed in the polycarbonate glazing market?
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