Stratview Research announces the launch of a new research report on Functional Glass Coatings Market for the Automotive Industry by Vehicle Type (Passenger Car, Light Commercial Vehicle, and Medium- & Heavy-Duty Commercial Vehicle), by Application Type (Windshield, Sidelite, Backlite, and Sunroof), by Material Type (Black Glass Enamel, Glass-Ceramic Enamel, and Conductive Silver Paste), by Glass Type (Laminated Glass and Tempered Glass), by Process Type (IR Drying and UV Curing), by Media Type (Oil-based and Water-based), and by Region (North America, Europe, Asia-Pacific, and Rest of The World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.
This market report, from Stratview Research, studies the functional coatings market in the global automotive industry over the trend period of 2012 to 2017 and forecast period of 2018 to 2023. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Functional Glass Coatings Market for the Automotive Industry: Highlights
The global functional glass coatings market for the automotive industry is projected to reach an estimated value of US$ 374.6 million in 2023. Over the next five years, the growth prospects of the functional glass coatings market for the automotive industry seem promising with a plethora of opportunities across regions for both existing as well as new players. The development of more innovative solutions is an indispensable focus area for the industry players manufacturing functional coatings, due to the changing customer needs with evolving trends, rapid transformation in vehicle design and technologies, and intense market competition.
There are a host of factors burgeoning the demand for functional coatings for automotive glass applications. The biggest driving factor among all is an organic growth of automobile production. Currently, the global automobile production has been at its peak with all four regions marking overall positive developments in the production of automobiles. China, India, Southeast Asia, and North Africa will fuel the growth of automotive industry in the coming five years. It is very important for the functional coating manufacturers to realign themselves based on the shifting opportunities from the developed economies to the developing economies including China and India.
In addition to that, the rapidly changing automotive industry dynamics, such as more glass surface area per vehicle, more complex glass shapes to make vehicle more aerodynamic, increasing production rates of glass manufacturing in order to achieve economies of scale, and the development of thinner and stronger glass in order to make vehicle lighter in weight are also imprinting a great impact on the demand for functional coatings. There is greater demand for functional coatings that can offer excellent UV resistance, heat resistance, more privacy to passengers, and higher strength.
Based on the vehicle type, passenger car is expected to remain the growth engine of the global functional glass coatings market during the forecast period of 2018 to 2023. Increasing demand for SUVs and hatchbacks in the developing economies as well as in the highly congested cities of the developed economies is the key factor, propelling the demand for functional coatings in passenger cars.
In terms of application type, sunroof is expected to be the highest-growing segment in the functional glass coatings market for the automotive industry during the forecast period of 2018 to 2023, owing to an increasing size of the sunroof to cover the entire rooftop of the vehicle. This, in turn, demands more functional coatings per vehicle.
Based on the material type, black glass enamel is expected to remain the largest segment of the global functional glass coatings market for the automotive industry during the forecast period.
In terms of region, Asia-Pacific is expected to remain the largest functional glass coatings market for the automotive industry during the forecast period. China, India, and Southeast Asia are the growth engines of the Asia-Pacific’s functional glass coatings market in the foreseeable future. It is more likely that the region will take more share of the developed economies including the USA and Europe in the coming years. North America and Europe are also likely to signpost positive growths during the same period, driven by passenger car and LCV segments.
The key functional coating manufacturers are Ferro Corporation, ICD High Performance Coatings, Johnson Matthey Plc, Shenzhen Octopus Technology Co., Ltd, and SHINCERAMIC Co., Ltd. Development of high-performance functional coatings, expansion in untapped and growing markets, and execution of mergers & acquisitions strategy are the key strategies adopted by the major players to gain a competitive edge in the market.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the functional glass coatings market in the global automotive industry and has segmented the market in seven ways, keeping in mind the interest of all the stakeholders across the value chain. The following are the seven ways in which the market is segmented:
The functional glass coatings market for the automotive industry is segmented into the following categories:
Functional Glass Coatings Market for the Automotive Industry, By Vehicle Type
Functional Glass Coatings Market for the Automotive Industry, By Application Type
Functional Glass Coatings Market for the Automotive Industry, By Material Type
Functional Glass Coatings Market for the Automotive Industry, By Glass Type
Functional Glass Coatings Market for the Automotive Industry, By Process Type
Functional Glass Coatings Market for the Automotive Industry, By Media Type
Functional Glass Coatings Market for the Automotive Industry, By Region
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