PUNE, Maharashtra, September 14, 2016 /PRNewswire/ --
The report "Automotive Glass Market by Type (Laminated, Tempered), Application (Windscreen, Sidelite, Backlite, Side & Rearview Mirror), Smart Glass by Technology (SPD, EC, LC, Photochromic & Thermochromic), Application, & Region - Global Forecast to 2021", The market is projected to grow at a CAGR of 5.46%, to reach a market size of USD 25.12 Billion by 2021.
Browse 84 market data Tables and 67 Figures spread through 164 Pages and in-depth TOC on "Automotive Glass Market"
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The market is driven by factors such as increasing vehicle production and sales, demand for improved aesthetics leading to an increased usage of glass in passenger cars, growing concerns regarding safety and security, and the trend of laminated side glazing.
"Suspended particle device to be the leading smart glass technology"
Suspended particle device (SPD) technology is expected to dominate the automotive smart glass market. Market growth can be attributed to the advantages offered by SPD glass, such as regulating the amount of heat and light entering a vehicle, providing 99% protection from harmful ultraviolet (UV) radiation, enhancing safety, and controlling the cabin temperature (thereby reducing the consumption of the air conditioning unit). The key application of SPD technology is in the sunroofs of passenger cars. Advanced sunroof technology, such as WONDERLITE glass roof, MAGIC SKY CONTROL, and panoramic roofs, has been employed in high-end luxury models.
"Laminated glass to be the fastest growing segment in the Automotive Glass Market"
The laminated glass market is projected to grow at the highest CAGR during the forecast period. The growth of this market is driven by the advantages offered by laminated glass, such as enhanced safety compared to tempered glass, the ability of the polyvinyl butyral (PVB) layer to bond glass even when it is broken, clear visibility, and theft reduction. Given the growing demand for sidelite laminated glazing, a trend which first began in Europe, countries such as the U.S. and Japan have begun manufacturing vehicles fitted with side laminated glazing.
"Asia-Oceania to be the largest market for automotive glass"
Asia-Oceania is estimated to dominate the Automotive Glass Market, and is projected to grow at the highest CAGR during the forecast period. This growth can be credited to the improving socio-economic conditions in emerging economies such as China, India, Indonesia, and Thailand. The increasing per capita income has resulted in a shift towards high-end luxury cars among consumers. The low manufacturing costs and easy availability of labor is driving the market for automotive glass in Asia-Oceania. The sizeable populations in countries such as China and India have resulted in increased vehicle sales; this has boosted the market for automotive glass in the region.
The Automotive Glass Market is dominated by a few global players, and comprises several regional players. Some of the key manufacturers operating in the market are Nippon Sheet Glass Co., Ltd. (Japan), Asahi Glass Co., Ltd. (Japan), Saint-Gobain S.A. (France), Fuyao Glass Industry Group Co., Ltd. (China), and Magna International Inc. (Canada).
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