Market Leader - Automotive Glazing Market
The global automotive glazing market size is estimated to be USD 1.0 billion in 2020 and is projected to reach USD 1.7 billion by 2025, at a CAGR of 9.9%. The market will be driven primarily because of the increase in vehicle production, particularly lighting applications. The increasing demand for complex glazing design and lightweight vehicles is driving the growth of the automotive glazing market for polycarbonate.
The automotive glazing market is dominated by a few global players and comprises several regional players. Some of the key players in the automotive glazing market are SABIC (Suadi Arabia), Covestro AG (Germany), Teijin (Japan), Webasto SE (Germany), Trinseo (US), Mitsubishi (Japan), Chi Mei Corporation (Taiwan), Freeglass (Germany), KRD Sicherheitstechnik (Germany), and Idemitsu (Japan). The key strategy adopted by the leading players to gain traction in the market was new product innovation and development. For instance, In October 2020, Covestro launches its new interior design concept for autonomous, electric, and shared mobility wherein a three-dimensional multifunctional display was made using Makrolon Ai polycarbonate and Makrofol polycarbonate film. A combination of in-mold decoration and film insert molding was used for surface design and durability.
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The supply contract strategy was also adopted by automotive glazing market players to cater to the growing demand from customers. In July 2019, Teijin limited announced its agreement with Applied Electric Vehicles Robotics (AEV) to innovate and develop lightweight components by using advance materials such as polycarbonate resin, aramid fibers, composite technologies and carbon for innovative structural design
Covestro is one of the leading petrochemical companies which has invented the polycarbonate resin. The key strategies adopted by Covestro are new product development, supply contract, and expansion to retain its leading position in the automotive glazing market. In August 2018, Covestro announced that it would be launching flame-retardant battery housings for electric mobility or transparent and/or light-diffusing polycarbonates for energy-efficient LED lighting technology for automotive.
SABIC, a leading player in petrochemical manufacturing headquartered in Saudi Arabia, adopted supply contracts and new product development as key strategies to gain traction in the market. For instance, SABIC announced that it was introducing new materials for its customers manufacturing LED automotive lighting parts. LEXAN™ HF4010SR resin was one of the new offerings. This polycarbonate material can help customers develop complex headlight bezels with enhanced aesthetics. SABIC also added new grades to its existing LEXAN XHT resin line, which can offer improved flow at high temperatures compared to other high-heat polycarbonate materials.
Related Reports:
Automotive Glazing Market By Application (Sidelite, Backlite, Sunroof, Lighting, Rear Quarter Glass), Vehicle Type (Passenger Car, Light and Heavy Commercial,Off-Highway, Electric), and Region – Global Forecast to 2025
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