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.
Government-Imposed Stringent Safety Norms to boost the Automotive Glass Market
The government’s introduction of severe safety standards may have a favourable impact on the automobile glass market. In terms of safety regulations, the automotive industry is heavily regulated, and the use of high-quality glass is a crucial part of assuring passenger safety.
Governments may enforce rules forcing automakers to use specified types of glass, such as laminated glass, which is designed to withstand impact and prevent shattering. These forms of glass can assist lower the chance of injuries in a collision, making them necessary components of modern vehicles.
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The growing demand for advanced driver assistance systems (ADAS) in automobiles has increased the demand for high-quality automotive glass. Sensors and cameras in ADAS technologies such as lane departure alerts and blind spot identification rely heavily on clear, high-quality glass to function properly.
Overall, implementing stringent safety norms can help increase demand for automotive glass and ultimately lead to safe vehicles on the road.
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.
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:
A.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.
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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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)
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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