The global laminated glass market for automotive is driven by factors such as the increasing demand for luxury and premium cars, stringent government regulations regarding vehicle safety, and the growing preference for laminated glass over the conventional tempered glass.
Laminated glass is a type of safety glass that is made by sandwiching a layer of plastic between two layers of glass. If the glass breaks, the plastic covering helps to keep it together, reducing the risk of major damage.
The safety benefits of laminated glass make it a popular choice for certain types of applications, such as car windshields or storefronts. It's used in those areas because if it breaks, the pieces are less likely to be sharp or cause serious injuries. Another reason to use laminated glass is its noise-reduction properties. The plastic layer helps block out some external noise which can be important in certain environments.
Finally, laminated glass can also provide protection from ultraviolet (UV) rays. This can be important in areas where the sun’s rays are particularly strong, such as at high altitudes or near the equator.
The major factor driving the growth of the automotive laminated glass market is the increasing safety regulations by governments across the globe. The market for automobile laminated glass is expanding as a result of the increased attention being paid to traffic safety and strict safety regulations.
Another factor driving the growth of this market is the growing preference for luxury and sport utility vehicles (SUVs), which use laminated glass extensively. The rising disposable incomes and changing lifestyles are fuelling the demand for luxury cars, which in turn is driving the demand for automotive laminated glass.
Laminated glass is a type of safety glass that is made by sandwiching a layer of plastic between two sheets of glass. The plastic covering serves to keep the glass together in the event of a break, reducing the likelihood of harm. Given that it might add an extra layer of safety in the event of an accident, laminated glass is frequently employed in automobile applications.
Laminated glass comes in a variety of forms, each with unique benefits and drawbacks. Conventional laminated glass is the most common type and is typically made from two pieces of tempered glass with a layer of PVB (polyvinyl butyral) in between. Acoustic laminated glass is designed to reduce noise levels and is often used in luxury vehicles. UV-film laminated glass offers protection from ultraviolet rays, while others types such as heat-strengthened laminated glass can offer additional strength or resistance to shattering.
The unique application and needs will determine which type of laminated glass should be used. However, all varieties of laminated glass can generally offer an additional layer of safety and protection in the event of an accident.
The market for laminated glass for automobiles is anticipated to grow from an estimated value of USD 15.4 billion in 2021 to USD 24.6 billion by 2031, at a CAGR of 7.3%.
The growth in laminated glass for the automotive market can be attributed to the increase in demand for luxury and premium vehicles, government regulations on vehicle safety, and the need for energy-efficient and environment-friendly vehicles.
While laminated glass offers many benefits, such as increased safety and noise reduction, the high cost of the material is a major restraint on the market. In addition, there is a lack of awareness about the benefits of laminated glass among consumers, which is another key factor restraining market growth. Additionally, recycling laminated glass is difficult and costly, further hindering market expansion. However, The rising disposable incomes and changing lifestyles are fuelling the demand for luxury cars, which in turn is driving the demand for automotive laminated glass.
The key players in the laminated glass for the automotive market are Asahi Glass Co., Ltd. (Japan), Nippon Sheet Glass Co., Ltd. (Japan), SCHOTT AG (Germany), Fuyao Group (China), and Guardian Industries Corp. (U.S.). These businesses are well-established in the global industry for automobile laminated glass.
The majority of the market is made up of the segment of laminated glass.
Another important factor driving the automotive laminated glass industry is the increasingly strict laws surrounding vehicle safety. The use of laminated glass in passenger vehicle windscreens and side windows is required by laws in a number of nations. For instance, from October 2005, all passenger automobiles in Europe are required to have laminated glazing. Australia also requires the use of laminated glass.
Automotive Industry to be on top of the market
The automotive industry is constantly evolving and looking for ways to improve the vehicles they produce. One area of recent focus has been the use of laminated glass in automobiles. Laminated glass is a type of safety glass that is made by sandwiching a layer of plastic between two sheets of glass. This construction makes the glass much stronger than conventional glass and less likely to break or shatter.
America will command the market.
During the projected period, the North American region is anticipated to have the largest market for automobile laminated glass. Major automakers are present in the area, and there are stringent laws governing automobile safety, which are to blame for this. Due to rising demand from luxury manufacturers, significant growth is also anticipated in the European market.
With a CAGR of 6.4% from 2019 to 2024, the Asia Pacific area is predicted to have the fastest-growing market for automobile laminated glass. This growth is largely driven by the booming automotive industry in China and India.
Covid-19 Impact & Market Status
The COVID-19 pandemic has had a significant impact on the automotive industry, with production and sales plummeting in the first half of 2020. The laminated glass market for automobiles is also expected to see a decrease in demand in 2020 due to the global economic slowdown. However, the market is forecast to recover in 2021 and return to growth over the next five years.
Latest Innovations in the Global Laminated Glass for Automotive Market: A Snapshot
The recent developments in the laminated glass market for automotive since 2019 include:
- The introduction of advanced laminated glass products with improved safety and performance features
- The launch of new production facilities by leading manufacturers
- The expansion of product applications into new segments such as electric vehicles
- The formation of strategic partnerships and collaborations between key players
Laminated Glass for Automotive Market Scope
|Revenue forecast in 2031
|USD 24.6 billion
|CAGR of 7.3% during 2021-2031
|Type, Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Asahi Glass Co., Ltd. (Japan), Nippon Sheet Glass Co., Ltd. (Japan), SCHOTT AG (Germany), Fuyao Group (China), and Guardian Industries Corp. (U.S.).
Key Segment of Global Laminated Glass for Automotive Market
By Type Overview 2021-2031, (USD Billion)
- Conventional Laminated Glass
- Acoustic Laminated Glass
- UV-Film Laminated Glass
By Application Overview 2021-2031, (USD Billion)
By Region Overview 2021-2031, (USD Billion)
- Rest of Asia Pacific
- Rest of North America
- Rest of Europe
Middle East and Africa