The automotive glass market is anticipated to secure a valuation of US$ 3.85 billion in 2023 and is estimated to rise to US$ 5.70 billion by 2033. The market is securing a CAGR of 4% during the forecast period.
Key Takeaways:
- The automotive glass market is registering to have a valuation of US$ 5.70 billion by 2033.
- With a CAGR of 4%, the global market is increasing during the forecast period.
- The market in the United States dominates the global market by capturing a maximum share through 2033.
The government put in place strict safety regulations in order to increase the market for auto glass. Strict safety laws set by the government could be advantageous for the auto glass sector. High-quality glass is an essential component when it comes to maintaining passenger safety in the automotive industry, where stringent safety rules are in place.
Governments may require the use of specific glass types by legislation, such as laminated glass, which is designed to withstand impact and prevent shattering. Multiple varieties of glass are required in modern vehicles because they may reduce the likelihood of injuries in an accident.
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The demand for advanced driver assistance systems (ADAS) in cars has increased together with the need for premium automotive glass. High-quality glass must be used to shield the sensors and cameras that are crucial components of ADAS systems like lane departure warnings and blind spot recognition.
In general, adopting stringent safety standards might increase demand for car glass and lead to the operation of safe vehicles on the road.
Who is Winning?
There are several competitive players in the automotive glass market, each playing strategic role in the industry. Here are some of the key players:
- Saint-Gobain S.A.:One of the leading players in the automotive glass market, Saint-Gobain S.A. is a French multinational company that produces a wide range of glass products, including automotive glass. The company’s strategic focus is on innovation and sustainable development.
- AGC Inc.:AGC Inc. is a multinational glass manufacturing company in Japan known for producing high-quality glass products. The company strongly focuses on research and development and constantly works to improve its products and processes.
- Nippon Sheet Glass Co., Ltd.:Nippon Sheet Glass Co., Ltd. is anotherglass manufacturing company in Japan that produces various glass products for the automotive industry, including laminated and tempered glass. The company’s strategic focus is on global expansion and growth.
- Fuyao Glass Industry Group Co., Ltd.:Fuyao Glass Industry Group Co., Ltd. is a glass manufacturing company in China that produces a wide range of automotive glass products, including laminated glass. The company focuses on vertical integration and improving its supply chain efficiency.
- Guardian Industries Corp.:Guardian Industries Corp. is a multinational company in America that produces a range of glass products, including automotive glass. The company’s strategic focus is on innovation and developing new products that meet the evolving needs of its customers.
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Other Prominent Players in the Market are:
- G.C. Inc.
- Nippon Sheet Glass Co. Ltd.
- Saint-Gobain Sekurit
- Fuyao Glass Industry Group Co. Ltd.
- Pilkington Automotive Limited (N.S.G. Group)
- Central Glass Co. Ltd.
- Guardian Industries Corp.
- Vitro, S.A.B. de C.V.
- Xinyi Glass Holdings Limited
- Gentex Corporation
- Magna International Inc.
- Webasto Group
- Shenzhen Benson Automobile Glass Co. Ltd.
- Splintex Distribution AG
- Carlex Glass America L.L.C.
Automotive Glass Market by Category
By Glass Type:
- Laminated Glass
- Tempered Glass
By Application:
- Windshield
- Back Glass
- Door Glass
- Quarter Glass
- Vent Glass
- Moon/Sun Roof
By Vehicles Type:
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Electric Vehicles
By Sales Channel:
- OEM
- Aftermarket
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa (MEA)
Recent Developments in the Global Market:
- In 2021, Saint-Gobain S.A. announced the launch of a new range of automotive glass products designed to reduce vehicle weight and improve fuel efficiency. The company also announced plans to acquire Continental Building Products, a leading gypsum wallboard and finishing product manufacturer.
- In 2021, AGC Inc. announced that it had developed a new glass technology capable of blocking up to 99% of harmful U.V. rays. The company also announced plans to invest in a new glass production facility in the United States.
- In 2021, Nippon Sheet Glass Co., Ltd. announced that it had developed a new type of glass capable of absorbing U.V. light and reducing the amount of heat entering a vehicle. The company also announced plans to expand its production capacity in China.
- In 2021, Fuyao Glass Industry Group Co., Ltd. announced that it had acquired a controlling stake in AGC Automotive Induver Morocco, a leading automotive glass manufacturer in North Africa. The company also announced plans to expand its production capacity in the United States.
- In 2021, Guardian Industries Corp. announced that it had developed a new glass technology capable of blocking up to 99% of harmful U.V. rays. The company also announced plans to invest in Poland’s new glass production facility
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