Global automotive polycarbonate glazing market is estimated to grow at a CAGR of 12.1% during forecast period (2022-2030). The global automotive polycarbonate glazing market is primarily driven by rising automobile sales. Growing automobile production and sales coupled with regulations and standards regarding reducing vehicle weight, increase fuel economy and greenhouse gas emission is expected to boost the adoption of materials such as polycarbonates that offers compatible properties. The Global Automotive polycarbonate glazing market has been segmented on the basis of type and application. The type segment is further sub segmented into commercial and passenger.
Passenger accounts the largest share in type segment in terms of revenue in the global automotive polycarbonate glazing market with around 76.52% market share in 2020. Adoption of polycarbonate glazing is rising in the passenger segment is driven by increasing sales of passenger cars and adoption of polycarbonate glazing by automobile manufacturers. Moreover, passenger segment is also expected to grow at fastest pace CAGR of 12.2% over the forecast period.
Side windows segment in polycarbonate glazing market is projected to grow fastest with CAGR of 12.7% during the forecast period. Side windows segment is primarily driven by adoption of polycarbonate glazing as side windows. Several companies such as Motorsport Lexan, Makrolon, Plastics 4 Performance, etc. are manufacturing polycarbonate side window kits for commercial and sports cars. Moreover, electric car manufacturers are also preferring polycarbonate glazing as side window as it helps in reducing weight of the vehicle, providing scratch resistant surface and delivering a high quality optical appearance.
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Front windshield accounts the largest share in application segment in polycarbonate glazing market and is projected to grow with a CAGR of 12.0% during the forecast period. Front windshield segment in polycarbonate glazing market is primarily driven by increasing adoption by automobile manufacturers owing to offered benefits. Polycarbonates glazing have superior properties such as shatter resistant, lightweight and also provides high optical clarity making them a better substitute for front windshield.
Geographically, the global automotive polycarbonate glazing market has been segmented into North America, Europe, Asia Pacific and Rest of World (ROW). Asia Pacific leads the global automotive polycarbonate glazing market by capturing largest market share in terms of revenue of around 40.42% in 2020. The automotive polycarbonate glazing market in Asia Pacific is primarily driven by growing vehicles production in the region and stringent regulation pertaining to vehicle weight and greenhouse gas emission.
China accounts the largest share in polycarbonate glazing market and is projected to grow with CAGR of 12.8% during the forecast period.India polycarbonate glazing market is projected to grow at highest pace in Asia Pacific with a CAGR of 13.2% during the forecast period. Growing manufacturing activities of vehicles in the country serve as the primary driver to automotive polycarbonate glazing market.
Product launch is the primary strategy adopted by companies in global polycarbonate glazing market. Product launch helps the company to increase its market share by giving them a competitive and increasing product portfolio. Collaboration, joint venture & partnership is the secondary strategy adopted by companies in global polycarbonate glazing market. Collaboration, Joint venture & partnership helps the companies to share technology and expenses by giving them a competitive and increasing product portfolio. Top companies in this market include Teijin Ltd, Trinseo S.A, SABIC, Mitsubishi Chemical Corporation and Covestro AG
KEY MARKET MOVEMENTS
- Global automotive polycarbonate glazing market is estimated to grow at a CAGR of 12.1% during forecast period (2022-2030).
- The global automotive polycarbonate glazing market is primarily driven by rising automobile sales.
- Passenger accounts the largest share in type segment in terms of revenue in the global automotive polycarbonate glazing market with around 76.52% market share in 2020.
- Passenger segment is also expected to grow at fastest pace CAGR of 12.2% over the forecast period.
- Side windows segment in polycarbonate glazing market is projected to grow fastest with CAGR of 12.7% during the forecast period.
- Front windshield accounts the largest share in application segment in polycarbonate glazing market and is projected to grow with a CAGR of 12.0% during the forecast period.
- Asia Pacific leads the global automotive polycarbonate glazing market by capturing largest market share in terms of revenue of around 40.42% in 2020.
- Product launch is the primary strategy adopted by companies in global polycarbonate glazing market.
- Top companies in this market include Teijin Ltd, Trinseo S.A, SABIC, Mitsubishi Chemical Corporation and Covestro AG
