Global Automotive Polycarbonate Glazing Market is the emerging market, and it is expected to grow at CAGR during the period (2022-2029).
The use of polycarbonate resins is beneficial to the environment as well. The use of polycarbonates reduces vehicle weight, which in turn improves fuel efficiency and reduces vehicle emission.
The global market for automotive polycarbonate glazing displays high growth potential with the increasing demand for fuel-efficient vehicles across the world.
Technological advancements pertaining to the use of new raw materials such as polycarbonate to replace traditional glass is expected to propel industry growth. U.S., the Federal Motor Vehicle Safety Standards specifies only laminated glass, tempered glass, and glass-plastic for automotive glazing standards.
A few Major trends of the market are application in panoramic roofs. Recent technological developments in automotive polycarbonate glazing will further offer growth and investment opportunities.
Increasing use of polycarbonate glazing in the automotive industry in India is another major factor anticipated to accelerate the growth of the Asia Pacific market in the coming few years followed by Europe.
The regulatory environment in major automotive markets such as the U.S., Europe, and Japan specifies to use of laminated, tempered, or toughened glass for automotive glazing. The use of plastics including polycarbonates is restricted in U.S, Europe and Japan for automotive glazing which restrains the market growth in these regions.
Major Drivers of Automotive Polycarbonate Glazing Market are increasing demand for lightweight glazing materials, and growing sunroof market and advanced automotive designs.
Major Restraints of the market are higher cost of polycarbonate glazing, and environmental regulations prohibiting the use of polycarbonate materials for windscreens.
Polycarbonate materials are utilized in place of glass in panoramic sunroofs, and it reduces vehicle weight substantially. This further enhances the vehicle's fuel efficiency and reduces emissions. A major opportunity in the market for automotive polycarbonate glazing is the rising acceptance of electric and hybrid vehicles. Passenger vehicles contributed approximately 71% revenue in the automotive polycarbonate glazing market in 2016.
The benefits of these sheets percolated across commercial, industrial, and institutional sectors finding wide application scope in overhead glazing and greenhouse glazing which will further boost up the market growth.
By Vehicle Type
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