Market Trends of Laminated Glass Industry
Automotive Segment to Dominate the Market
- Laminated glass helps reduce noise transmission into the vehicle cabin, enhancing comfort for passengers. As consumers increasingly prioritize comfort and a quieter driving experience, automakers utilize laminated glass to improve acoustic insulation.
- Laminated glass can incorporate interlayers that provide UV protection, reducing the fading of interior materials and protecting occupants from harmful UV radiation. This feature is essential for regions with intense sunlight exposure.
- The increasing popularity of electric vehicles (EVs) offers opportunities for laminated glass manufacturers. EV manufacturers often prioritize advanced features and technologies to differentiate their products, including the use of laminated glass for safety, comfort, and energy efficiency.
- According to the estimate released by the International Energy Agency (IEA), in 2022, sales of battery electric vehicles reached 7.3 million, up from around 4.6 million in 2021. Factors such as increased consumer interest in sustainable transport and governmental legislation that aims to reduce direct air pollution have led to a rise in the sale of BEVs.
- Further, according to the estimate released by the IEA, in 2022, around 84.76% of global electric vehicles were sold, resulting from the domestic production of these vehicles. This represented nearly 9 million sales, compared to 1.6 million units sold from international trade that year.
- According to the latest estimate published by the Bureau of Economic Analysis (BEA), the annual passenger car sales in the United States were 3.12 million units in 2023, which increased from 2.86 million units in 2022.
- Consequently, the market is expected to register growth during the forecast period due to the abovementioned factors.
Understand The Key Trends Shaping This Market
Download PDF
Asia-Pacific to Dominate the Market
- Asia-Pacific has experienced rapid population growth and urbanization, driving demand for construction and infrastructure development. Laminated glass is widely used in building facades, windows, doors, and skylights in commercial, residential, and institutional buildings across the region.
- It is home to some of the world's fastest-growing economies, leading to significant investments in construction projects. Laminated glass is a preferred choice for architects and builders due to its safety, security, and aesthetic properties. The construction of skyscrapers, shopping malls, hotels, and residential complexes in cities like Shanghai, Beijing, Singapore, and Mumbai fuels the demand for laminated glass.
- Furthermore, according to the latest estimate published by the National Bureau of Statistics of China, in 2022, the construction industry in China generated an output of over CNY 31 trillion.
- Asia-Pacific is the largest automotive market globally, leading in automobile production and sales. Laminated glass is majorly used in automotive windshields for safety and noise reduction. The region's automotive industry's growth further contributes to the demand for laminated glass.
- According to the latest estimate published by the China Association of Automobile Manufacturers (CAAM), China produced approximately 210,000 commercial vehicles and 996,000 passenger cars as of April 2022. The industry produced a total of 1.2 million vehicles during the month.
- According to the estimate released by the Ministry for Economy, Trade, and Industry (Meti), Japan, in 2022, the production value of motor vehicles by the automotive industry in Japan was approximately JPY 19.29 trillion (USD 0.13 trillion), increasing from around JPY 17.65 trillion (USD 0.12 trillion) in the previous year.
- In the coming years, all of this is expected to have a significant impact on the growth of the region's market.
Get Analysis on Important Geographic Markets
Download PDF
