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Monday, 5 February 2018

Automotive Glazing Market Is Estimated To Reach USD 33.02 Billion Till 2025

Automotive Glazing Market
The global Automotive Glazing Market is expected to reach USD 33.02 billion by 2025, according to a new report. Rising demand for advanced passenger protection in automobile owing to rising road fatalities is expected to propel growth for glazing systems.
Automotive production volume is the primary factor influencing the industry trends. Growing acceptance of lightweight components in cars contributing to improved fuel efficiency is expected to propel industry growth. Innovations in the glazing technology by industry players to offer high impact bearing materials with attractive colors and designs is likely to drive demand.
Nippon Sheet Glass Company Limited (NSG), Asahi, Saint Gobain S.A. and Fuyao Glass Industry Group Co., Ltd. together dominated the industry in 2016 accounting over 70% of the overall demand. The new entrants are likely to face a threat from these giants owing to their large production capacities, well-established consumer base, and the broad geographical reach.
Glass has been dominating the industry and accounted for a share of over 95% of the overall consumption in 2016. However, rising inclination of automotive manufacturers to replace the glass with lightweight polycarbonate materials is expected to hamper its share. As a result, the industry players are likely to invest in plastic glazing technologies to meet the rising product demand.
Further key findings from the report suggest:
• The product penetration is anticipated to be the highest for passenger cars owing to growing production volumes as compared to its counterparts coupled with high demand for lightweight vehicles with panoramic roofs and better aesthetics
• The demand in Europe was valued at USD 7.08 billion in 2016, which is attributed to the presence major car manufacturers in the region including Volkswagen, Fiat, and Daimler AG in the region
• The polycarbonate demand in the industry was USD 1.42 billion in 2016 and is likely to grow at a CAGR of 12.8% from 2017 to 2025, on account of its high impact resistance, thermal strength, and ease in designing as compared to its counterparts
• India is expected to be the fastest growing market in Asia Pacific growing at a CAGR of 7.7% from 2017 to 2025, owing to high investments in the automotive manufacturing sector by international players
• Regional expansion and product innovation to meet the standards required in innovative car designs are the key strategies undertaken by the manufacturers to strengthen their foothold in the industry
For More Details Visit @ Hexa Reports

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