According to the research report titled ‘Global Automotive Glass Market Size study by Type (Laminated, Tempered), by Application (Windshield, Sidelite, Backlite, Rear Quarter Glass, Side & Rear-View Mirrors), by Material (IR-PVB, Metal Coated, Tinted), and Regional Forecasts 2021-2027’, available with Market Study Report, global automotive glass market was estimated at USD 19.55 billion in 2020 and is anticipated to be worth USD 27.14 billion by 2027, expanding at a yearly rate of 4.8% between 2021-2027.
 

Surging vehicle production, focus on improving car aesthetics, and rising customer demand for advanced features such as protection from dirt & UV rays are key factors spurring global automotive glass market growth.
 

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The report also cites that technological developments in mirrors of passenger cars and launch of innovative products by leading companies will aid industry expansion over the analysis period. Citing an example, in January 2021, General Motors Company announced that the new Cadillac Celestiq electric car is equipped with smart glass roof. 
 

On the other hand, increasing raw material costs and high price of premium vehicles are poised to hinder the market proliferation.
 

Based on type, the business space is divided into tempered, and laminated. Speaking of application scope, worldwide automotive glass industry is bifurcated into windshield, backlite, sidelite, side & rear-view mirrors, and rear quarter glass. Moving on to material, the market sphere is classified into tinted, IR-PVB, and metal coated.
 

From regional frame of reference, Asia Pacific held 45% of the global automotive glass market share in the recent past, with China at the forefront, due to increasing number of automotive products and presence of key players. Meanwhile, Europe market to poised to garner massive revenues in the coming years, owing to rising vehicle sales in the region.
 

Leading players influencing global automotive glass market dynamics are Magna International Inc., Fuyao Glass Industry Group Co. Ltd., Corning Inc., Compagnie De Saint-Gobain S.A., Gentex Corporation, Webasto SE, AGC Inc., Nippon Sheet Glass Co. Ltd., Xinyi Glass Holdings Limited, and Samvardhana Motherson Group.
 

These companies are designing tactics such as mergers & acquisitions, collaborations, product launches, partnerships, and investments in R&D to enlarge profit margins and strengthen their foothold in the business space.