Global Automotive Polycarbonate Glazing Market is anticipated to rise at a value CAGR of 9.56% over 2019-2028. According to a study published by Insure Insights on the Global Automotive Polycarbonate Glazing Market. Polycarbonate is a durable material that has high impact-resistance and has low scratch-resistance. It is used in automotive as it is lightweight and improves the aesthetic appearance and safety. The Rise in the use of Polycarbonate in headlights and the surge in the production of sunroof and rear quarter glass-equipped premium vehicles SUVs have driven the market growth.
Top Driver: The Surge in the number of vehicle sales around the globe are driving the growth
There has been a significant rise in the number of vehicle sales around the globe, the surge in adoption of the sunroof in passenger cars, and improved consumer preference for enhancing the aesthetic appeal of the vehicle are boosting the demand of the Automotive Polycarbonate Glazing Market. Moreover, the technological advancements in automotive polycarbonate glazing, favorable initiatives by the government are enhancing the growth of the market. The demand for lightweight parts and material to provide safety and to enhance the appearance and glow of the vehicle are expanding the growth of the market. The Rise in urbanization and increase in demand for electric vehicles have further driven the market growth
Bus as a vehicle has dominated growth in the Global Automotive Polycarbonate Glazing Market
Based on the Vehicle segment, Bus have obtained the highest growth as Bus has more area i.e., 2 to 3 times more than passenger cars. The higher surface area of applications like the sidelite and windscreen has driven the market growth of automotive Polycarbonate. The demand for buses as compared with other vehicles has further propelled the growth of the market. The high demand to save fuel and to enjoy cheap travel has further driven the demand for buses. The increase in urbanization has further boosted the demand for Buses and has expanded the market.
In terms of the application segment, front lighting has obtained the most significant growth due to the Rise in the number use of automobiles, and vehicles, moreover surge in the DRL mandates has further contributed to the growth. Based on the Electric & Hybrid vehicle segment, Battery electric vehicles have obtained the most remarkable growth due to a surge in demand for safety and aesthetic features and, weight reduction.
Asia Pacific to Rule the Automotive Polycarbonate Glazing Market due to the Rise In use In Different Applications
The Rise in the presence of key market players and an increase in the use of the Polycarbonate in different applications has boosted regional growth. The Asia Pacific is known as a hub for automotive production. The increasing population and urbanization have further contributed to market growth. The rise in awareness among the consumers in the region toward convenience and safety have enhanced market growth. The surging demand for glazing materials for passenger vehicles, especially from developing countries like China, India, and Thailand, is driven the regional market. The decrease in the manufacturing costs and favorable initiatives by the government is expanding the regional growth.
Strategic Collaborations, Mergers, and acquisition are the major strategies of the competitors
The Players of the Global Automotive Polycarbonate Glazing Market is fragmented. The key competitors of the Global Automotive Polycarbonate Glazing Market are Covestro, SABIC, Webasto, Idemitsu Kosan, Mitsubishi Engineering Plastics, Teijin, Krd Sicherheitstechnik, AGC, Peerless Plastics and Coatings and Evonik
Saint-Gobain: Saint-Gobain, Inc is a giant competitor of the Global Automotive Polycarbonate Glazing Market; for instance, In November 2019, Saint-Gobain, Inc had announced the acquisition of outstanding shares of Continental Building Products. The deal was made for USD 1.4 billion. This acquisition was made by Saint-Gobain to expand its product portfolio.
AGC: AGC, is a popular competitor in the Global Automotive Polycarbonate Glazing Market. In February 2019, AGC had announced the agreement of acquisition with US-based Taconic to acquire the Advanced Dielectric Division and a portion of the Industrial Products Division. This acquisition was made by AGC to expand its product portfolio.
Scope of the Report
By Vehicle Type
By Electric & Hybrid vehicle
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Table of Content
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