The Global Automotive Glass Market size is expected to reach $27.4 billion by 2029, rising at a market growth of 6.9% CAGR during the forecast period.
Passenger Cars captured approximately 67% revenue share of the market in 2022, as these cars are highly in demand because of the rising middle-class population. Passenger Cars utilize laminated glass mostly due to its safety feature, which allows windscreens to remain intact even after collisions. It is primarily used in windscreens to protect against injury and harm to passengers of moving vehicles. According to CDC, Around the world, 1.35 million people die on roads every year. Over 3,700 people per day die globally in collisions involving automobiles, buses, motorbikes, bicycles, lorries, or pedestrians. Bicyclists, motorcyclists, and pedestrians account for more than half of all fatalities. Therefore, the high usage of laminated glass in passenger cars makes it the largest contributor by procuring approximately $11,132.2 million revenue in 2022.
The major strategies followed by the market participants in the Market are Partnerships as the key developmental strategy to keep pace with the changing demands of end users. For instance, In February, 2023, AGC signed a collaboration with Saint-Gobain to lay out the design of a pilot breakthrough flat glass line which would significantly decrease its CO2 emissions. This would help industrial flat glass lines to be more efficient as compared to gas solutions and greatly benefit the customers. Moreover, Nippon Sheet Glass Co., Ltd. signed a collaboration with SYP Kangqiao Autoglass Co., Ltd in May, 2022 to work together and increase SYP Automotive’s automotive processing business in China by escalating its ability to satisfy increasingly complex demands for glazing solutions and meet the expectations of global automakers. Furthermore, it would help Nippon Sheet Glass Co., Ltd. to build up the ability to meet the growing demand of customers.
Based on the Analysis presented in the KBV Cardinal matrix; Saint-Gobain Group is the forerunner in the Market. In October, 2021, SAINT-GOBAIN SEKURIT entered into a partnership with HOPIUM, in order to provide innovative solutions that combine design, safety, and thermal and acoustic comfort to Hopium for creating a great user experience on all of the vehicle's glass surfaces. Companies such as Corning Incorporated, Magna International, Inc., Xinyi Glass Holdings Limited are some of the key innovators in Market.
The demand for automotive smart glass is gaining popularity, especially among premium vehicles. In addition to providing greater levels of comfort for passengers, these materials also operate better in terms of privacy, security, and temperature management, which will increase market penetration in the years to come. With changes in customer preferences and the auto industry, particularly in Europe, smart glass alternatives are expanding quickly in the fabrication of sun and moon roofs. The car industry's future has been predicted to lie in the smart glass. This will help the market to expand.
Numerous countries, including the United States, China, India, Japan, the United Kingdom, and Germany, are experiencing rapid growth in the automotive industry, promoting market expansion. The market for autos and automotive parts is expected to continue to increase due to this expansion. As a result, companies are growing their manufacturing plants in underdeveloped nations. In addition, smart glasses are also being employed, which is predicted to stimulate market growth as demand for luxurious & comfortable vehicles develops. Furthermore, global urbanization, industrialization, and economic expansion are raising the demand for luxury vehicles, which is, in turn, raising the need for automotive glass.
The market is incredibly reliant on various raw commodities, including limestone, silica, soda ash, and natural gas. As a result, fluctuating raw material prices can significantly impact the market. For instance, silica prices, which comprise the majority of automotive glass, have fluctuated in recent years due to variables such as shifting supply and demand, shifting production costs, and geopolitical reasons. As a result, automotive glass prices have fluctuated due to this instability, posing problems for manufacturers' pricing tactics. In light of this, the fluctuating prices of raw materials may hinder the growth of the market.
Based on type, the market is segmented into laminated, and tempered. In 2022, the laminated segment held the highest revenue share in the market. A PVB layer is positioned between two glass layers to form the structure. Sunroofs are another use where it is chosen, which is anticipated to fuel market expansion. All panoramic sunroof vehicles produced by brands like Ferrari, Tesla, and Volvo use laminated glass.
By application, the market is fragmented into windshield, sidelite, sunroof, and backlite. In 2022, the sidelight segment garnered a significant revenue share in the market procured a promising growth rate in the market. The sidelines or side windows of cars have been made with tempered glass by automotive manufacturers for a number of years. In the upcoming years, market growth is predicted to be fueled by the increased use of tempered automotive glass in sidelites, especially in the aftermarket. The rise in glass used in the automotive aftermarket is primarily due to an increase in traffic accidents.
On the basis of vehicle type, the market is divided into passenger cars, and commercial vehicles. The commercial vehicles segment covered a considerable revenue share in the market in 2022. This is due to an increase in transportation and building projects. Because of this, automakers are forced to boost output to meet the escalating demand. Furthermore, because larger cars generate higher profit margins for manufacturers and dealers due to higher list prices, the automotive industry intends to boost the production of commercial vehicles. In light of this, it is projected that expanded commercial vehicle manufacturing will offer lucrative prospects for the market in the years to come.
By end user, the market is bifurcated into original equipment manufacturer and aftermarket. In 2022, the OEM segment registered the maximum revenue share in the market. The automobile industry's growth is stagnating, but demand for electric vehicles is growing as consumers become more mindful of gasoline emissions and governments adopt measures that will help electric vehicles become the preferred option. The need for automotive glass will increase as the market penetration of electric vehicles increases.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 17.3 Billion |
| Market size forecast in 2029 | USD 27.4 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2029 |
| Revenue Growth Rate | CAGR of 6.9% from 2023 to 2029 |
| Number of Pages | 236 |
| Number of Table | 423 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Type, Vehicle Type, Application, End User, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the market is analysed across North America, Europe, Asia Pacific and LAMEA. In 2022, the Asia Pacific region led the market by generating the highest revenue share. Due to the region's strong economic growth, increased disposable income, and consequent rise in demand for commercial cars, this is understandable. The region's market is expanding due to increased investments in the automotive sector. Customer demands for car comfort, safety, and aesthetics have changed recently, particularly in nations like China and India. Due to shifting consumer lifestyles and increased disposable money, Asia Pacific has seen significant demand for luxury vehicles.
Free Valuable Insights: Global Automotive Glass Market size to reach USD 27.4 Billion by 2029
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AGC, Inc., Corning Incorporated, Saint-Gobain Group, Magna International, Inc., Nippon Sheet Glass Co., Ltd., Xinyi Glass Holdings Limited, Fuyao Glass Industry Group Co., Ltd., Guardian Industries Corporation (Koch Industries), Webasto Group and Taiwan Glass Ind. Corp.
By Type
By Vehicle Type
By End User
By Application
By Geography
The Market size is projected to reach USD 27.4 billion by 2029.
Rising demand and production of luxury vehicles are driving the Market in coming years, however, Fluctuating prices of raw materials restraints the growth of the Market.
AGC, Inc., Corning Incorporated, Saint-Gobain Group, Magna International, Inc., Nippon Sheet Glass Co., Ltd., Xinyi Glass Holdings Limited, Fuyao Glass Industry Group Co., Ltd., Guardian Industries Corporation (Koch Industries), Webasto Group and Taiwan Glass Ind. Corp.
The Passenger Cars segment acquired maximum revenue share in the Market by Vehicle Type in 2022 thereby, achieving a market value of $17.1 billion by 2029.
The Windshield segment is leading the Market by Application in 2022 thereby, achieving a market value of $9.8 billion by 2029.
The Asia Pacific market dominated the Market by Region in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $11.2 billion by 2029.
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