2022-2030 Automotive Glass Market Forecast

According to a new market report, the global automotive glass market is expected to be valued at 3.7 billion in total sales by 2022. It will grow at a relatively stable compound annual growth rate of 4 percent in the next few years, and the market value is expected to reach 5.2 billion by 2030.

Global demand for automotive glass fell sharply in 2020, with the Covid-19 pandemic limiting auto production and reducing new orders in manufacturing. The report believes that market players will benefit from the growing popularity of smart glass technology and electric vehicles.

The report believes that the volatility of raw material pricing and higher capital requirements will hinder the development of the market.

In recent years, the automotive glass industry has witnessed steady growth, driven by the large-scale global automotive production industry, the implementation of stringent automotive safety standards, and improvements in materials and automotive technology. In addition, companies have invested in smart glass, wider windshields and sunroof designs to meet the needs of high-end car consumers.

While revenue from the automotive glass market is growing steadily, the fragmented nature of the market limits revenue potential. In addition, issues around energy efficiency and raw material volatility are also issues faced by key players.

Demand remains high for door glass products that require larger glass volumes, as well as innovations in material strength and temperature control.

The application of automotive glass in conventional passenger vehicles is growing faster than that of LCV, HCV and electric vehicles due to rising global disposable income and increased demand and production.

East Asia is a key market for production and sales, supported by the availability of numerous regional and international auto manufacturing plants in the region, as well as lower labor and material costs.

According to a lead analyst at Future Market Insights, the growth in the production of electric and hybrid vehicles, as well as various new technologies for visibility and safety, is expected to have a positive impact on the global demand for automotive glass during 2030.

The impact of covid-19 on the automotive glass market

The coronavirus pandemic is expected to negatively impact the short-term outlook for the automotive glass industry. Lockdowns have restricted the production of automobiles and related materials in North America, Asia and Europe, key markets for automotive glass.

In addition, a sharp drop in demand for new vehicles, uncertainty about the severity and duration of the pandemic, and the impact on the global economy are key factors that could hinder the market outlook and delay the industry's long-term recovery. However, after the pandemic is over, the automotive industry will gain momentum, with global demand for electric and autonomous vehicles expected to grow.

Some of the key players in the market include

Dura Automotive Systems, Saint-Gobain SA, Asahi Glass Co.Ltd., Fuyao Glass Industry Group Co.Ltd., Nippon Sheet Glass Co.Ltd., Xinyi Glass Holdings Ltd., Central Glass Co.Ltd., Glas Trosch Holding AG , Gentex Corporation and Magna International Inc.

Automotive Glass Market Split By Glass Type

Laminated and Tempered Glass; Windshield, Rear Window, Door Glass, Rear Side Window, Vent Glass, Roof Glass by Application; Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle by Vehicle Type , Electric vehicles; divided into original glass and repaired glass according to sales channels.