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The polycarbonate materials in automobiles are used in numerous applications they are majorly used to reduce the overall weight of the vehicles, which reduces the load on the vehicle’s engine. It also helps to reduce carbon emissions and increase fuel efficiency. These are widely used in rear windows, side windows, panoramic sunroofs and windscreens. It also ensures better safety and provides an aesthetic look to the vehicles. The increased demand for sunroofs in passenger vehicles is expected to drive market growth.
The increased demand for fuel-efficient and superior mouldability of polycarbonate materials are some of the major factors driving the growth of the market. Also, the implementation of several stringent government regulations to decrease vehicle production is expected to boost market growth. However, the factors such as polycarbonates turning yellow, it expands and contracts more than glass, and they are highly susceptible to scratches are some of the major factors hampering the growth of the market.
Key Market Driver -
the increased demand of enhanced aesthetic appearance passenger vehicles by the application of automotive polycarbonate glazing and rise in demand of fuel efficient and are some of the major factors driving the growth of the market.
Key Market Restraint -
the factors such as polycarbonates turning yellow, it expands and contracts more than glass, and their high susceptible to scratches are some of the major factors hampering the growth of the market.
The global automotive polycarbonate glazing market is segmented by application, by vehicle type, by technology and by geography. Based on application the market is further sub-segmented into the windscreen, sidelites, backlite, sunroof, rear quarter glass. Among these, the backlite segment is expected to account for the largest market share in 2020 and it is expected to dominate in the market in the forecast period. Factors such as increased usage of polycarbonate in the rear windshield due to availability of the largest glass panel on the back, increased demand for lightweight vehicles are some of the major factors driving the market growth.
Based on vehicle type the market is segmented into passenger cars and commercial vehicles. The passenger vehicles segment accounted for the largest market share and it is expected to dominate the market during the forecast period with a steady CAGR. Factors such as increased demand for fuel-efficient vehicles and increased adoption of premium passenger cars in developing countries are some of the major factors driving the growth of the market.
Based on technology the market is segmented into sun control glazing, hydrophobic glazing, and switchable glazing and conventional. The sun control glazing segment accounted for the largest market share in 2020 and it is expected to dominate the market during the forecast period with a rapid CAGR. Factors such as reduction in load on heating, air conditioning unit, ventilation, and also constant reduction of load on the engine which increases the fuel efficiency are some of the major factors driving the growth of the market.
Major players operating in the global automotive polycarbonate glazing market include Covestro AG, SABIC, Corning Incorporated, Fuyao Group, Saint-Gobain, TEIJIN LIMITED, AGC Inc., Nippon Sheet Glass Co., Ltd., Peerless Plastics and Coatings, Webasto and KRD Sicherheitstechnik GmbH, among others.
Geographically, the global automotive polycarbonate glazing market is segmented into North America, Europe, Asia Pacific, and the rest of the world. The Asia Pacific held the largest share of the market in 2020 and it is projected to dominate the market in the coming years with the highest CAGR. Factors such as increased demand and sales of passenger vehicles in the developing countries increased sales of automotive polycarbonate in the aftermarket industry and increased disposable income of the consumers in the region are some of the major factors driving the growth of the market.
North America is expected to be the second-largest region for the market and it is expected to grow steadily over the forecast period. Factors such as stringent government rules regarding vehicle safety and increased demand for fuel-efficient vehicles and a rise in demand for premium passenger vehicles in the region are anticipated to drive the market growth. Europe is expected to account for a considerable share in the market and it is expected to grow rapidly over the forecast period the factors such as the presence of major market players in the region, and enhanced aesthetic appeal and comfort of the vehicles due to the implementation of automotive polycarbonate glazing are expected to drive the market growth.
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