Increasing demand for the integration of solar control glasses flourishing the growth of automotive solar control glass market
Sep 4, 2019
The automotive solar control glass market is forecast to reach $1.31 billion by 2023 and is estimated to grow at a CAGR of 4% during the forecast period 2018-2023.
Hyderabad, India - September 4, 2019 /MarketersMedia/ —
Emergence of solar control glasses in the automotive industry is due to its deliverance of improved fuel efficiency, superior comfort, longer upholstery life, and better electric vehicle range without signal blocks. Solar control glass reduces A/C usage by 10%-15%, which is helpful in lowering the carbon dioxide emissions and also in the improvement of fuel efficiency. Auto glass specialists and windshield experts from Noida have suggested use of solar control glass as a windshield for a car. As the solar coated windshield absorbs the infrared rays from the sun decreasing the interior temperature of the vehicle, automotive original equipment manufacturers (OEMs) are increasing the production of this commodity. As harsh sunlight affects the upholstery in cars, solar control glasses are preferred to protect it from high temperatures along with other items such as keys, water bottle, and sunglasses. These solar control glasses possess the benefits of SPF 50+ sunscreen, offering benefits such as protection from tanning, sunburn, eye damage, and skin cancer as well. Moreover, solar control glass avoid signal blockage and encourages the uninterrupted communication of electronic gadgets even in a motion vehicle. Also, it maintains the internal temperature in a vehicle and reduces A/C load, creating comfortable long-distance travel for passengers in an eco-friendly electric vehicle. Therefore, the automotive solar control glass market is forecast to reach $1.31 billion by 2023 and is estimated to grow at a CAGR of 4% during the forecast period 2018-2023. The report covers Automotive Solar Control Glass Market size by type and applications, Automotive Solar Control Glass Market share by top 5 companies and also the market share by start-ups during the forecast period.
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Windshield is the noticeable application of automotive solar control glass market which is growing with a CAGR of 4.03% over the aforesaid period. Solar reflective windshields are more effective in redirecting the UV rays and reducing the amount of heat entering into the vehicle along with its support to maintain the cabin temperature. Approximately, it reflects 50% of the infrared rays back into the atmosphere and retain the steering wheel, cabin, seat, and plastic components cool. It provides more comfort to the occupants, additionally, it also improves vehicle styling. Pilkington is the foremost player which manufactures enhanced solar absorbing glasses namely EZ-KOOL and Optikool. These glasses uphold a comfortable temperature inside the vehicle. Among a wide variety of solar control glasses, absorbing solar control glasses offered by this company plays a crucial role in providing ultraviolet protection, design versatility, energy efficiency, safety and security. Thus, it supports best visible light transmission, and also enables low energy cost for lighting and heating.
APAC Automotive Solar Control Glass Market
Asia-pacific held a share of 51.23% in the global automotive solar control glass market revenue, as of 2017. Increase in the usage of solar control glasses in electric vehicle manufacturing is booming the automotive solar control glass market demand. International Energy Agency states that, worldwide electric vehicle (EV) experienced a growth of 54% that is 3.1 million in 2017 and is estimated to reach 125 million by 2030. China is the most dominating country in case of both EV production and sales. In China, sales of electric car has got increased with 72% in 2017. Foreign investment flow into the automobile industry in China has been creating significant number of opportunities for the growth of solar control glass market in the country. In 2017, China held a leading position in passenger car production on a global basis, which accounts for a share of 33.76% of all cars produced. China experienced a moderate growth rate in the passenger car production that is about 1.6% from 2016 to 2017. Currently, China has been reducing import tariffs and also raising foreign investment capitals to drive the automotive industry. These factors are increasing the number of imports and incorporation of foreign car company technologies to domestic car. On the other hand, it also offer improved quality at low cost. Indian government has set a target to increase the share of electric vehicles among new sales of cars and two-wheelers from less than 1 percent at present to 30 percent by 2030. These developments in the sales of cars is influencing the growth of automotive solar glass control market.
Automotive Solar Control Glass Market Growth Drivers:
Fuel Efficiency: Increasing demand for fuel efficiency in the automotive industry is boosting the growth of automotive solar control glass. Integration of such glasses reduces the A/C load for cabin cooling and hence, improves fuel efficiency, and also lowers carbon dioxide emissions, which ultimately lead towards savings on fuel costs. In addition to this, increasing significance by the regional governments in Europe to obtain compliance certificate related adherence to fuel efficiency is driving the automotive solar control glass market growth.
Electric Vehicles: Electric vehicles are popularly known as future vehicles. Moreover, the rising demand for electric vehicles is driving the solar glass demand. These vehicles are equipped with solar panel sunroofs that convert the solar energy into electrical energy. EVs are eco-friendly and installed with solar glass in automotive sunroofs. Additional benefit provided by the fixation of these solar panel sunproof at the top of the electric vehicle is helpful in passing the converted electrical energy to a battery in the motor vehicle for a smooth run.
Technology: Novel innovation, “reflective glass technology”, which reflects more than 30 percent of the sun’s energy. It is equivalent to five times to standard glass benefits as well. This technology advancement is assisting the new generation vehicles which are designed with larger glass areas. Rising number of investments by foreign companies coupled with the increasing number of expansions in the production facilities of solar control glasses is escalating the growth of the global automotive solar control glass market.
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The Major Players in this Market Include:
The major players in the Automotive Solar Control Glass Market include Nippon Sheet Glass Co., Ltd, AGC Inc. (Asahi Glass), Saint-Gobain S.A., PPG, Guardian Europe S.A.R.L., and Shanghai Yaohua Pilkington Glass Group Co., Ltd. The glass market is highly fragmented, few players especially local and regional players holds larger market share. These companies have been continuously focusing on product launching strategies to strengthen their portfolio of innovative products. For example, The NSG Group has launched a new solar control glass named, SUNCOOL, in 2018, which is a thermochromic laminated safety glass. It adapts to the changing weather outside, and possess high colour stability and low reflection.
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