Automotive Glass Market to Expand by USD 3.9 Billion from 2024-2028 boosted by Premium Vehicles and Sunroof demand, with AI-Driven Market Transformation – Technavio

NEW YORK, Oct. 13, 2024 /PRNewswire/ — Report with the AI impact on market trends – The Global Automotive Glass Market size is estimated to grow by USD 3.9 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  3.38%  during the forecast period. Increased demand for premium vehicles and sunroofs is driving market growth, with a trend towards increasing popularity of innovative automotive glass. However, high cost of manufacturing automotive glass  poses a challenge- Key market players include AGC Inc., AGP Group, Benson Auto Glass LLC, Central Glass Co. Ltd., Compagnie de Saint Gobain, Corning Inc., Fuso Glass India Pvt. Ltd., Fuyao Glass Industry Group Co. Ltd., Gauzy Ltd., Gentex Corp., Independent Glass Co. Ltd., Koch Industries Inc., Kochhar Glass India Pvt. Ltd., Magna International Inc., Nippon Sheet Glass Co. Ltd., Olimpia Auto Glass Inc., PG Group Pty. Ltd., Vitro SAB De CV, Webasto SE, and Xinyi Glass Holdings Ltd..

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Market Driver

Solar reflective glass is gaining popularity in the automotive industry due to its advantages over conventional glass. This type of glass absorbs infrared rays, reducing the amount of heat in a car and enhancing passenger comfort. It also reduces the effect of ultraviolet radiation on interior trims and improves vehicle aesthetics. Pilkington, a leading manufacturer of solar reflecting glass, offers optimized products like Optikool and EZ-KOOL, which reduce solar energy entering the vehicle cabin by 20% compared to standard tinted glass. In January 2022, AGC Inc announced the completion of the development of the infoverre Paper-like Screen Series, an ultra-thin glass signage using AGC glass processing technology and OLEDs. Ford Motor, in collaboration with Corning, has developed automotive glass products using Gorilla Glass hybrid technology, which will be used in the new Ford GT and other Ford models. This technology is lighter and thinner than conventional laminate glass, improving vehicle performance and fuel economy. The increasing adoption of innovative automotive glass products, such as solar reflective glass and Gorilla Glass technology, is expected to positively impact the global automotive glass market. These advancements offer benefits like reliability, reduced weight, and compliance with crash test regulations. OEMs are expected to follow this trend to enhance the safety and comfort features of vehicles. 

The Automotive Glass Market is witnessing significant trends with key players like Saint-Gobain, Fuyao Glass, Asahi Glass, Magna, Webasto, and others leading the way. Technological advancements in smart glass, Gorilla glass, and self-healing glass are driving growth. The BEV segment and commercial buses are major consumers of automotive glass. Raw materials like silica, soda ash, and limestone are essential for glass production. Competition is fierce with new entrants like WBTC, LCTSL, AICTSL, and ASTC entering the market. Safety features, such as shatterproof glass and laminated glass, are crucial in both passenger vehicles and commercial vehicles. Regulations and safety standards are key considerations, with technological cost and self-healing glass, solar control glass, and safety concerns shaping the market. The aftermarket industry offers significant opportunities for market entrance, and investments in automotive glass comfort, visibility, and weight reduction are essential. 

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Market Challenges

• The global automotive glass market is significantly influenced by the production and sales of passenger cars and commercial vehicles. The decline in automotive production and sales in major manufacturing countries, including Germany, the UK, China, India, Japan, and the US, since 2017, has negatively impacted the market. The reduction in vehicle sales led to an increase in unsold inventory, compelling Original Equipment Manufacturers (OEMs) to temporarily halt production. For instance, in India, approximately 0.6 million unsold vehicles from Maruti Suzuki India Ltd., Tata Motors Ltd., Honda Motor Co. Ltd., and Mahindra and Mahindra Ltd., were reported in 2021. This inventory build-up has put pressure on OEMs to reduce production, ultimately impacting the demand for automotive components, such as glass, and slowing down the growth of the global automotive glass market.
• The Automotive Glass Market faces challenges in providing affordable solutions for low cost segments, while catering to the demands of advanced technologies in sidelite and backlite segments. The sunroof segment seeks natural light and smart features like embedded sensors, self-cleaning glass, and augmented displays. Safety remains a priority with Safety and Smart glass in windshields, side glass, and the HCV segment. Economic conditions and vehicle production impact market growth. Crossover SUVs, intra-city trucks, buses, and the EV segment require lightweight glass solutions. ITC Glass Company and others innovate with laminated side glass, Bentley Arnage, Buick Enclave, Cadillac ATS, Chevrolet Equinox, Dodge Ram, and Pilkington Glass are key players. Road accidents push the need for improved quality and safety in all glass applications.

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Segment Overview 

This automotive glass market report extensively covers market segmentation by  

1. Application 

• 1.1 Passenger cars
• 1.2 Light commercial vehicle
• 1.3 Medium and heavy commercial vehicle

Type 

• 2.1 Laminated glass
• 2.2 Tempered glass
• 2.3 Others

Geography 

• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Passenger cars-  The passenger cars segment leads the global automotive glass market due to technological advancements and rising sunroof penetration in mid-range vehicles. Consumers increasingly demand enhanced performance and safety features. Developing countries like China, India, Brazil, South Korea, Indonesia, and parts of Eastern Europe present growth opportunities for OEMs, with India projected to reach 72 vehicles per 1000 people penetration rates by 2025. Urbanization and population growth fuel the demand for personal mobility solutions, driving passenger car sales and, consequently, automotive glass demand. Solar reflective and privacy glasses are gaining popularity due to consumer focus on security, safety, and comfort. The increasing demand for larger utility vehicles like SUVs, CUVs, and MPVs further boosts market growth. The growing penetration rate of automotive glass in passenger cars will continue fueling market expansion during the forecast period.

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Research Analysis

The Automotive Glass Market is witnessing significant growth due to increasing demand for passenger vehicles and commercial vehicles. SUV segment and luxury cars are driving the market growth, with a focus on lightweight glass for weight reduction and improved driver comfort. Technological advancements in glass technology, such as Smart glass and Safety glass, are enhancing vehicle safety features, including shatterproof glass, laminated side glass, and rear windows. ITC glass company and other key players are investing in research and development to produce stronger and more transparent glass for windshields, offering better occupant crash protection. Raw materials, such as soda-lime glass and borosilicate glass, are used to manufacture tempered glass and laminated glass, respectively. The market is expected to continue its growth trajectory, driven by the increasing production of automobiles and the demand for advanced safety and comfort features.

Market Research Overview

The Automotive Glass Market is a significant sector in the global automotive industry, focusing on the production and supply of glass components for passenger vehicles and commercial vehicles. The market caters to various glass types, including safety glass, smart glass, and lightweight glass, used in windshields, side windows, rear windows, and sunroofs. The SUV segment and luxury cars are major consumers of automotive glass, while the BEV segment and commercial buses are also growing markets. Technological advancements in glass production, such as self-healing glass, solar control glass, and electrochromic roofs, offer enhanced driver comfort, visibility, and safety features. Key raw materials include silica, soda ash, and limestone. Competition in the market comes from established players like Pilkington Glass, Saint-Gobain, Fuyao Glass, Asahi Glass, Magna, Webasto, and new entrants. Regulations and safety standards, technological cost, and competition shape the market dynamics. The aftermarket industry plays a crucial role in market entrance and investments. The application of sunroofs, moonroofs, and head-up displays in mainstream vehicles and aerodynamic styling are driving the demand for automotive glass. The market’s growth is influenced by factors such as automobile production, global auto production, electric car sales, and the surface area of glass used in vehicles.

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation

• Application
• Passenger Cars
• Light Commercial Vehicle
• Medium And Heavy Commercial Vehicle
• Type
• Laminated Glass
• Tempered Glass
• Others
• Geography
• APAC
• Europe
• North America
• South America
• Middle East And Africa

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Company Landscape

11 Company Analysis

12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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