The Automotive Glass Market is projected to grow at a CAGR of 4.80% during the forecast period, to reach a market size of USD 23.59 billion by 2025 from USD 16.21 billion in 2017 as per a report by MarketsandMarkets.
How lightweight & energy-efficient smart glasses will be a major opportunity?
New technologies and applications in the automotive glass market such as smart glass and Gorilla glass are aimed at enhancing comfort and efficiency. Smart glass such as thermos chromic glass reduces heat buildup in the cabin, thus reducing the load on air-conditioning, which in turn reduces carbon emissions and improves fuel efficiency. The electrochromic glass allows the passengers to adjust the transparency of glass as per their needs. Suspended Particle Device glass uses electricity to switch between dark and light shades and is generally used in sunroofs.
Tinted glass is used for absorbing solar radiation. Solar control glazing not only absorbs but also reflects solar radiation, thus regulating cabin temperature. This, in turn, increases the fuel efficiency as the air-cooling load is taken off the engine.
In 2017, Corning launched Gorilla glass for the automotive industry. The glass is treated with additional materials to protect it from extreme conditions such as severe winter cold or summer heat. The glass is stronger and lighter than conventional auto glass. The gorilla glass is also 40% lighter than laminated glass, which leads to better fuel efficiency. The glass also supports higher clarity and a wide viewing area for HUD. Ford GT and BMW i8 are the early adopters of Gorilla glass. Smart glass and Gorilla glass provide an excellent opportunity for glass manufacturers to not only reduce emissions but also increase their revenues.
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How low-cost glass in the independent aftermarket will impact the automotive glass market?
The automotive glass suppliers in the aftermarket provide economical alternatives to consumers as compared with glass fitted by OES, especially for windshields. According to Glass Doctor, aftermarket manufactured windshield is cheaper by about USD 100 and requires 30 minutes lesser for installation as compared with OES manufactured windshield. However, the safety of automotive glass manufactured in the Independent Aftermarket (IAM) is generally lesser than that offered by OES due to various factors. It is thinner than OES made glass, has an improper fit and does not undergo stringent safety inspections. The glass manufactured in IAM is locally produced, which reduces the transportation costs for the manufacturer and lowers its price. These factors make IAM glass cheaper than glass supplied by OES. Consumers, therefore, prefer IAM glass, especially in developing countries such as India and China. Independent aftermarket players thus have a price advantage over OES due to localized production and low product realization costs.
Thus, independent aftermarket glass manufacturers pose a significant challenge for OES as they provide consumers a variety of price points. They present a greater challenge in emerging economies where consumers are more price-sensitive than their counterparts in developed countries.
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The major players in Automotive Glass Market are Saint-Gobain (France), Asahi Glass (Japan), Fuyao Glass (China), Samvardhana Motherson (India), Webasto (Germany), Xinyi Glass (China), Nippon Sheet Glass (Japan), Gentex Corporation(US), Corning (US), and Magna International (Canada)
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Automotive Window and Exterior Sealing Systems Market by Component Type (Glass Run Channels, Roof Ditch Molding, Exterior Seals (Front Windshield, Hood Seals, Trunk Seals)), Vehicle (PC, LCV, HCV, and EV), and Region – Global Forecast to 2021
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