Automotive Glazing Market

Automakers are constantly focusing to reduce vehicle weight. The lighter the vehicle, the less fuel, and energy required. Furthermore, the use of lighter material, reduces carbon emission., The adoption of the glazing technique has increased significantly. The global challenge of air pollution and carbon emission have had an indisputable impact on the automotive industry, as stakeholders strive to develop better, lighter, and safer car components. The influence of this has led the manufacturers of the global automotive glazing market to take measures to enhance existing products and develop new ones with the aim of minimizing the weight of cars, and making them more fuel-efficient. Sustainable development, a manufacturing megatrend, has also impacted the growth of the automotive glazing market, with players increasingly focusing on sustainable alternatives to improve the efficiency of autonomous vehicles, opening up new design options for carmakers.

COVID-19 Impact Analysis

• The automotive glazing market includes major tier I and II suppliers like SABIC, Covestro AG, Webasto SE, Trinseo, Teijin, and others. These suppliers have production facilities spread across the Asia-Pacific, Europe, North America, South America, and Middle East & Africa. The COVID-19 has had an impact on all of its businesses globally; these players have announced a temporary shutdown of production due to lockdown and also to protect the safety of their employees, which resulted in lower demand and supply chain disruptions in the U.S., France, Germany, Italy, Spain, and others during the COVID-19 pandemic. As a result, the demand for overall automotive production has decreased, which directly affected the growth of the automotive glazing market in 2020. Manufacturers will modify operations to avoid delays and schedule production based on demand from original equipment manufacturers (OEMs) and tier 1 manufacturers. Major OEM manufacturers lost revenue in the first & second quarters of 2020, and a similar scenario is anticipated to occur in the third quarter of 2020. Vehicle production is expected to resume, but not at full capacity because to the severity of the pandemic, thus tier 1 players anticipate a further decline in revenue in the remaining quarters of 2020, particularly in the U.S. and major European countries.

Top Impacting Factors
Increase in use of polycarbonate glazing, additional security as it does not shatter easily like glass, and rise in demand for light weight material drive the growth of the market.
Volatile and high cost of polycarbonate, and scratch prone property & low visibility hinder the growth of the market.
Polycarbonate usage to remove blind spot area-A-pillar, and rise in demand for electric and autonomous vehicles act as an opportunity for the market investments.

The Automotive Glazing Services Market Trends are as Follows:
Increased Use of Polycarbonate Glazing

• Carbon emission has increased in the recent decades, resulting in global climate change. Governing bodies in several regions have imposed stringent emission norms in the automotive industry, which accounts for around 18% of global carbon emissions due to which, OEMs have increased the usage of lightweight materials in automotive components to lower the total weight of the vehicle to meet emission standards. According to a recent study, the reduction in vehicle weight significantly increases fuel efficiency. According to the Environmental Protection Agency (EPA), reducing 100 pounds of vehicle weight increases fuel economy by 1% to 2%. This improvement in fuel efficiency is projected to benefit not only the vehicle owner but also original equipment manufacturers (OEMs) by helping them to achieve their fleet-level emission targets. Vehicle component manufacturers such as glazing manufacturers are focused on developing, and manufacturing polycarbonate glazing products. According to SABIC, using polycarbonate in glazing instead of glass can reduce the vehicle weight by 16–20 Kg, which will improve fuel efficiency and decrease vehicle emissions. This drives the growth of the market.

Key Benefits of the Report:

• This study presents the analytical depiction of the automotive glazing services market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with challenges of the automotive glazing services market.
• The current market is quantitatively analyzed to highlight the growth scenario of the automotive glazing services market.
• The report provides a detailed automotive glazing services market analysis based on competitive intensity and the competition that will take shape in coming years.

Questions Answered in the Automotive Glazing Services Market Research Report:

• Who are the leading market players active in the automotive glazing services market?
• What would be the detailed impact of COVID-19 on the market?
• What are the current trends that would influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the automotive glazing services market?
• What are the future projections that would help in taking further strategic steps?

 Automotive Glazing Market Report Highlights