Northbrook, IL -- (SBWIRE) -- 10/28/2021 -- Automotive glass demand is increasing due to increasing vehicle production, especially SUV/MPV segment, and the growing demand for smart glass technologies to improve safety as well as fuel efficiency.

The Automotive Glass Market is projected to grow at a CAGR of 4.80% during the forecast period and is estimated to grow from USD 16.21 Billion in 2017 to reach USD 23.59 Billion by 2025.

Suspended Particle Device (SPD) is expected to be the largest segment of the automotive glass market by 2025

The rising demand for premium passenger cars and hybrid & plug-in hybrid vehicles has increased the demand for smart glass in the automotive industry. Among the smart glass technologies, SPD technology is projected to capture the largest market. SPD regulates the amount of heat and light entering a vehicle, provides 99% protection from harmful UV radiations, controls the cabin temperature and reduces the air conditioning unit's consumption, and enhances safety. SPD technology is widely used in sunroofs in passenger cars. Leading OEMs such as Mercedes and BMW have introduced innovations such as Magic Sky Control and panoramic roofs in high-end luxury models.

Laminated Glass is the fastest-growing segment in Automotive Glass Market

Laminated glass is projected to be the fastest-growing market during the forecast period. Laminated glass in the windshield has a PVB layer sandwiched between the glass. It protects passengers from broken glass fragments and provides increased safety compared with tempered glass. The increasing use of laminated glass on the sidelines (in addition to the windshield) is expected to drive the growth of the laminated glass market. While European vehicle manufacturers have started using side glazing, automotive manufacturers in the US and Japan are also following suit. Laminated side glazing improves the safety and NVH (Noise, Vibration & Harshness) of the vehicle.

The Rearview mirror is the largest segment of the device embedded automotive glass market

Rearview mirror is among the first applications of device embedded glass in passenger cars. It not only provides important information to the driver when parking the vehicle but also warns about any obstacle approaching the vehicle from behind. Technological advancements by Gentex (US) and Samvardhana Motherson (India) have ensured that device-embedded rearview mirrors are available at an economical price point.

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Asia Oceania: Fastest growing market for Automotive Glass

Asia Oceania is estimated to be the largest automotive glass market and is projected to grow at the fastest CAGR during the forecast period. This growth can be attributed to the improving socio-economic conditions in emerging economies such as China and India. The growth in population in these countries has resulted in increased vehicle production and vehicle parc. This has resulted in increased demand for automotive glass. The consumer preference for SUVs in India and China is also driving this market as the volume of glass required in SUV is significantly more than that in sedans and other passenger cars.