The global automotive glass market is a large market expected to witness substantial growth in the next seven years owing to its dynamic application areas such as automobile side windows, rear-view windows, and windshields.
This dynamic growth rate of automotive glass industry can be attributed to the fast pace recovery of global economic meltdown phase and surging income levels of patrons. Automobile repair establishments and auto manufacturers are the major clients for glass solutions, and so the sector’s growth can be directly associated with surging global automobile sales.
All service delivery agencies, repair outlets, and major automobile manufacturers will comprise a considerable stake in automotive glass market, as consumers are progressively demanding low-cost, high-value deployments with superior quality. The automotive glass market is expected to see exceptional growth as consumers spend extra money for superior service delivery and enhanced automotive interior decor.
Market prices for automotive glass depend on aspects such as raw material costs and supply and demand in market. The average price for automotive glass declined in the past decade due to the global financial crisis of 2008.
Recovery in global automobile sector and mounting global GDP value, both are expected to drive the market growth over the next few years. The global market is set to grow in the coming years with increasing global automotive production and increasing urbanization. Growing urban population coupled with surging automobile production, progressive economic development in developing countries, and aligned on-goings are expected to drive the automobile glass market at a higher pace in the next seven years.
Ice storms across countries like the U.S. along with early December snow led to higher repair volumes. These dangerous environmental conditions are anticipated to drive market expansion in regions like North America and Russia. Claim frequency for liability and collision losses should remain steady, with moderate fluctuations in the subsequent quarterly performance in these regions. Major automotive glass market players over the forecast period comprise Fuyao Glass, Asahi Glass Limited, Xinyi, NSG, and Saint-Gobain.