The automotive glass market is estimated to touch USD 2,317.8 million in 2023, which will touch USD 3,310.4 million, propelling at a 5.3% compound annual growth rate, by 2030.
The progression of this industry is primarily ascribed to the constant rise in automotive manufacturing all over the world. Moreover, the demand for glass with enhanced safety features is increasing due to the rising focus of the automobile sector on passenger safety.
Furthermore, government guidelines also mandate specific safety features, which has encouraged the implementation of laminated and tempered glass, which is durable.
The laminated category, based on glass, will be a significant contributor to the industry, with a 45% share, in 2023. The increasing customer requirement for luxury, comfort, and safety is making this material a popular option among automobile manufacturers, mainly in high-end vehicle models.
The windshields category, on the basis of application, will account for the largest automotive glass market share, in 2023. This can be because windshields are essential to guarantee passengers’ safety. They act as a physical barrier between the exterior and safety, defending residents from insects, flying objects, rain, wind, or various other possible hazards.
Furthermore, to comply with the shifting requirements of vehicle consumers, original equipment manufacturers are cooperating with component makers to enhance glass safety, usefulness, and performance.
APAC will be a significant contributor to the automotive glass industry, with a share of 45%, in 2023, and it will further propel at a 5.0% CAGR during this decade. This can be ascribed to the flourishing automobile sector of this region, which led to the surging sales and production of automobiles in India and China.
In addition, the number of middle-class populaces who own automobiles is increasing continuously, leading to the surging need for automotive glass in this region.
